Earnings Off at Apple

Apple Inc. (AAPL) designs, manufactures and markets personal computers, mobile communication devices and portable digital music and video players, as well as sells various related software, services, peripherals, and networking solutions. [PostStockWidget stock_valuation="" pricetype="live" manual_date="Dec. 21, 2012, 2:04pm GMT" symbolcodes="'AAPL'" symbolprices="110" div_align="right"]

• We bought a position in Apple during the first leg of the sell-off in December. Earnings are expected to decline over the next year.

• We made a minor profit and prefer to stand aside and seek better opportunities until the earnings recover.

• EXITING APPLE AT $111.86 (AAPL-US) FULL POSITION

• TOTAL RETURN: +5.3%