“In a note to clients issued Monday, CLSA’s Avi Silver seeks to calm nervous Apple (AAPL) investors in the wake of the stock’s ‘bear market’ 22.4% drop since it topped $705 in intraday trading on Sept. 21,” Phillip Elmer-Dewitt reports for Fortune.
“‘We believe Apple’s fundamentals are intact,’ he begins, suggesting — as sell-side analysts are wont to do — that the stock’s miserable performance over the past seven weeks creates a ‘buying opportunity,'” P.E.D. reports.
P.E.D. reports, “Silver is particularly enthusiastic about the iPad mini. ‘We believe the iPad mini will be a home run,’ he writes. ‘As former users of the Nexus 7 and now proud owners of the iPad mini, we believe Apple’s brand, premium feel of the product, 35% larger screen (substantial), will drive consumers to pay up the extra $80-130 for this product.'”
Read more in the full article here.