AAPL Purchased

Today i purchased a very small number of shares in Apple.

Its share price has fallen sharply in the last few weeks, on what appears to be a combination of (a) a lack of clarity around plans for its cash surplus and (b) concerns around a lack of future innovations / new products in the pipeline.  I understand there may also be some form of vicious circle occurring with portfolio managers re-balancing their 'tech' holdings as a result of the recent fall in Apple in comparison to gains in the likes of Google, which is perpetuating their respective falls & gains.

Whilst i to some extent agree with these concerns, the fundamentals (a PE under 10, dividend yield of 2.5% and a large cash reserve) now look attractive to me.

I'm personally a fan of Apple products and i'm always amazed at how busy the flagship HK store is, and how long the queues are when new products are launched. I think there is still a lot of appetite for innovation & evolution with the existing range, let alone potential pipeline products such as the often rumoured apple tv, watches etc.

Although i've been looking to add US exposure to my portfolio for some time, this investment doesn't fully fit my core strategy of holding well diversified, income based index tracking ETFs.  As a consequence the size of the investment is very small in comparison with my core holdings of ETFs.

I'm viewing this investment primarily as a small test of my 'value radar' rather than a core holding.  The purchase price was USD426.