The Position Makers

so i was reading through some recent articles about aapl; it’s def’ still worth watching closely for even more growth.  preaching to the choir, here.  :)  i was curious how valuations for the $300+ area were, assuming 27% growth of sales.  this seems fairly feasible due to leopard crushing windows vista in reviews, further driving general mac sales as well as itunes, iphones, and ipods by extension.  as far as targeting consumer interest in seeing, touching, using futuristic (romanticized futurism) devices, apple continues to deliver.  i think y’all are right to be excited about new highs.  how high do you think?

looking at the call vs. put for 2010, there’s almost zero activity on the put side, not until the $350 area.  (and a sweet as premium to collect there.  ).  $340 doesn’t seem too crazy to me.  $19k for the $100 shares of aapl, sell calls at $340 for $2k immediately back.  easily reinvest that in more aapl for a compound of 10.5%, and riding the general ’stack’ up to  even $300 would put the total investment (of $19k & 110 shares)  at $33k equaling 73.3%  roi for the 2-year period.  obviously if  it’s at the money, in 2010 the return would be significantly higher since you would still have the premium and the total value of the 110 share lot would be $37.4k.

this is still assuming a generally bullish outlook on aapl for the 2-year period.  the market would still need to be pushing the shares up.  meaning no recession??
is this TOO bullish of a stance on aapl?  it’s really not clear to me how spending on the consumer level is going to change over the next few quarters.  also, there’s no real corp-purchasing base for aapl at this time.  if there’s any sort of growth in that segment, even just because general consumers begin to prefer mac’s over pc’s, then $340 per share might even be too low!

good, bad, stupid?