“Apple (AAPL) is the world’s largest company by market capitalization and is also one of the most followed and traded stocks in the world. The company had run up substantially last year with analysts setting targets of $1000 and greater,” Sneha Shah writes for Seeking Alpha. “We had advocated a short position when the stock was trading near its all-time highs above $700. The stock has gone down substantially since that time and is now trading at ~$450.”

“The sharply bullish sentiment has now turned quite bearish and many of the disadvantages and risks have been discounted in the current stock price,” Shah writes. “We think that Apple now makes a decent buy at the current levels, given that the company is still a dominant force in the consumer technology markets.”

Why Apple is a Buy:
• Presence across all major consumer products
• Valuation is Cheap on both Absolute and Relative Basis
• Innovation and Marketing Strengths
• Sentiment is highly negative now
• Fortress like Balance Sheet
• Enterprise Entry
• Expand into Emerging Markets

Read more in the full article here.

[Thanks to MacDailyNews Reader "Arline M." for the heads up.]