Apple

Ladies and Gentlemen,

These are the times when being in stocks vs. funds or broad market indices pays off. These are the fruits of our labor; when a company with strong fundamentals like Apple, destroys earnings forecasts and surges 7% after hours. I recall blogging after Apple's 4Q earnings report, when they reported a loss, and told you all to stay the course with Apple, as short term issues wouldn't affect the long term story with Apple.

Apple reported 1Q results today with EPS of $13.87 vs estimates of $10.08. The year ago EPS number for this quarter was just $6.43. Overall, Apple sold 37 million iPhones and 15.4 million iPads during the quarter.

I look forward to updating the progress on the virtual portfolio tomorrow, taking into account Apple's rally tomorrow and Coach's (COH) impressive 6% gain today.

Cheers,
EZ

Stick around for valuation part 2: Precedent Transactions Analysis, now that I am done with recruiting for internships.