“Apple investors rejoice! The correction is over!” Matt Krantz reports for USA Today. “”
“Shares of the gadget maker are now down just 8.5% from their all-time high notched in April – ending what was a somewhat painful period for Apple investors,” Krantz reports. “Back in July, Apple’s stock first dropped 10% from their high as investors feared Chinese demand – and shares were down more than 20% at their worst point during the summer.”
“That’s in the past now. The afterglow of the company’s most recent quarter results – which came in better than expected – has put the stock back on track,” Krantz reports. “Shares of Apple are up $2, or 1.7%, Tuesday to $123.16. That’s an 11.5% gain this year – which beats the Standard & Poor’s 500’s 2.5% year-to-date gain.”
Read more in the full article here.
MacDailyNews Take: iCal sez:
The fear is that Apple is entering growth purgatory… You’d have to believe that the car would kick in, and drive revenues. Or that the watch would ultimately be something very big. But I think investors are worried about the next two-year period… I think its best days are behind it. — Toni Sacconaghi, Sanford C. Bernstein analyst, October 27, 2015. Apple shares closed at $114.55 that day.
SEE ALSO:
Analyst: I think Apple’s best days are behind it – October 27, 2015
Until you put out this story. Now Apple is down again.
“The correction is over!”
Really? I think the correction is just starting. AAPL is seriously undervalued by every metric you can through at it and Apple has not been getting its story out effectively. The market has been driven by fear that AAPL cannot be as good as it appears and therefore the market ‘leaves AAPL before it collapses like many other companies did’.
Unfortunately, the market is always right and if many start leaving (rightly or wrongly) a ‘sinking ship’, then like lemmings on the move, we must rush to get ahead of the fall. Those who buy again at the bottom will be rewarded and those who stay in AAPL – not so much. The delay in profit for those who buy and hold is the same as a decrease in pay. The fact is: the market is driven by fear and greed. It is sad but true. The market is not rational.
By the way, the correction is that AAPL is now getting values nearer to the value that other lesser stocks enjoy. The market is finally repeating what Apple is doing and driving the price up.
The market is only the market and usually wrong about Apple.
The market panics about a fall in China. Then hear they are WRONG vs Apple. Market WRONG!! Nuff said.
Toni Sacconaghi is either a stock manipulator or an idiot. Probably the former…