“The recent selloff of Apple has reached such an extreme that some portfolio managers say it’s a buying opportunity for investors,” Priya Ganapati reports for TheStreet.com.
MacDailyNews Take: Ya think? Does that mean they’re done manipulating it for now?
Ganapati continues, “Company observers say Apple’s steady growth overseas and its coming launch of the iPhone in new markets overseas could help offset some of the economic uncertainty in the U.S. markets.”
“Consumer demand remains strong for the iPhone, a major player in the smartphones market, according to market research firm ChangeWave Research,” Ganapati reports. “Indeed the iPhone is the top choice among consumers planning to buy a new cell phone in the next six months.”
“Darren Chervitz, director of research for the Jacob Internet Fund, says Apple’s long-term prospects remain strong and the recent dip presents a buying opportunity. Jacob Internet Fund holds shares of Apple in its portfolio,” Ganapati reports. “Fears that a recession or a slowdown could impact consumer spending may already be baked into the stock at its current levels, experts say.”
Full article here.