“Apple took a major hit Thursday, with shares plummeting by more than 2.5% at one point,” Kat McKerrow writes for TheStreet. “Apple finished the day down 2.37%.”

“However, now is not the time to give up on Apple,” McKerrow writes. “It is still one of the world’s greatest companies and an excellent place for your investing dollars. It has a lot of cash for developing new products and will introduce a new edition of its popular iPhone in a few months.”

“Apple is one of the world’s most profitable businesses,” McKerrow writes. “Its free cash flow is out of sight, and the company is currently resting on about $230 billion in cash and investments on its balance sheet. ”

Read more in the full article here.

MacDailyNews Take: Please don’t confuse Wall Street with facts.

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Go figure: Google’s ‘more valuable’ than Apple, but Apple’s iPhone takes 94% of smartphone industry’s profits – February 2, 2016
Apple’s iPhone can soon reap 100 percent of world’s smartphone profits – November 17, 2015
Apple’s iPhone owns 94% of smartphone industry’s profits – November 16, 2015