“The bar has been raised too high for Apple [AAPL] ahead of quarterly earnings and could disappoint investors, Tim Seymour of EmergingMoney.com said Wednesday on CNBC,” Bruno J. Navarro reports for CNBC
“On ‘Fast Money,’ he called out Apple CEO Tim Cook’s revelation this week that the company recently sold 100 million iPads,” Navarro reports. “In order to boost Apple stock, Seymour said, the company would need to sell in the neighborhood of 200 million iPads next year.”
Navarro reports, “‘It’s not a valuation question. It’s an overcrowded trade, where it’s show-me-now, and there’s not much to show them,’ he said. ‘I think the stock goes to down to $580 before you get good support.'”
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