Oct 24, 2016 - 05:15 PM UTC — AAPL: 117.65 (+1.05, +0.9%) | NASDAQ: 5309.83 (+52.43, +1%)
“Nigam Arora‘s technical analysis of the Apple stock price suggests it faces a few key days. At one stage Friday it was down at $558, from above $700 in September,” Haydn Shaughnessy writes for Forbes. “How ludicrous is this? Apple is a top performing company with plenty of room to grow. In the mobile space it is normal to count sales in the hundreds of millions. In computing you are big at 30 million units. Contrast with Nokia. At its peak, the Finnish company sold around 450 million phones a year. Mobile represents scale beyond the dreams of computer makers.”
“So Apple has upside – here’s the story on the iPad mini [Analyst: 2 million of those 3 million iPad sold in first weekend were iPad mini units]. And Apple has reinvented enterprise structures to facilitate extraordinary growth at low relative cost,” Shaughnessy writes. “What’s changed is sentiment. In the past what mattered was trader sentiment – that’s why share prices go up and down – but what matters now is pervasive sentiment.”
Shaughnessy writes, “The right way to deal with it – Cook has to up his game and become more of a peer in the community of people building their businesses around Apple.”
Read more in the full article here.