So what does this mean for tech investors? I say sell Apple and buy Google stock instead.
I recently talked with my friend Liz Claman to explain my reasons. In a nutshell, I think Apple is a decent buy — particularly with a plan to return $100 billion in capital to shareholders through 2015 — but Google will be better across the next 18 months or so thanks to strong leadership, better fundamentals and a fair valuation.
GOOG isn’t a slam dunk, of course, with recent softness in its online ad business. And there certainly is a risk of buying a top after the run. But I like Google better.
Jeff Reeves is the editor of InvestorPlace.com and the author of “The Frugal Investor’s Guide to Finding Great Stocks.” Write him at firstname.lastname@example.org or follow him on Twitter via @JeffReevesIP. As of this writing, he did not own a position in any of the stocks named here.