“Apple Inc. as a ‘value play?’ Seems counter-intuitive to think of a company trading at better than 20 times next year’s earnings as a “value,” but maybe–just maybe–the Street is coming around to the idea that the growth and potential of this company seem horribly undervalued,” Jim Goldman reports for CNBC.
“The latest to join the Apple ‘party’ is Citigroup analyst Richard Gardner who put Apple on the firm’s ‘Top Picks Live’ list yesterday, Citi’s top picks of 59 stocks that show the greatest potential for growth. Despite the steep sell-off recently, Citi maintains its $212 target. And because of the steep sell-off, Citi says Apple offers enormous value right now,” Goldman reports.
“Apple shares are off 37 percent so far this year. The stock is inching back as the clouds on Wall Street begin to dissipate, and the Apple story re-captures a kind of clarity missing these past few months,” Goldman reports.
Full article here.
The clarity of Apple’s story was never obscured for those not easily blinded by the rather transparent manipulations of others.