Today, I made the decision to sell our remaining Apple (AAPL) stock. We sold at $455.48 per share. We had bought those shares at $440.26 per share.
Why did we sell?
In less than 1 year, we have seen the stock hit $700 per share, and drop under $400 per share. Competition is only getting stiffer for Apple and I am no longer confident that it is a great stock to own, so when the stock shop up due to a recent earnings report, I jumped at the chance to unload it.
You see, I have had my eye on another big name stock for a while now.
With a massive dividend yield of 5.08%, AT&T (T) looks like a mighty fine purchase. I can't say I plan on hanging on to this one for a super long time, but am looking forward to the next 18-24 months of growth.
Apple is a fun one to own, but it has no longer become a sure thing. I also wanted to add another dividend paying stock to our portfolio. Additionally, as a stock holder, I like AT&T as a company. Their growing U-Verse program as well as their stable cell branch of the company is attractive as a shareholder.
I don't look too much further than that into a stock purchase. As of now, this approach has worked great, so I thought I'd share today's decision with you!