“Apple has been knocked down over the past three months – shedding billions in market cap with shares falling almost 30% from an all-time high of $705,” Richard Saintvilus writes for The Motley Fool.
“Whether or not this drop is justified depends on who you ask,” Saintvilus writes. “However, it was remarkable (if not shameful) to have witnessed how quickly the entourages — excuse me, ‘analysts’ — disappeared off the bandwagon.”
Saintvilus writes, “Though it’s true Apple’s Q1 outlook was uninspiring, on the other hand, the company is known to under-promise and to over-deliver. The company’s projections of $11.75 per share on revenues of $52 billion now appear extremely conservative. With iPhones having regained its market lead in the U.S. and expected to represent well over 50% of Apple’s fiscal Q1 revenues, I can’t imagine a bigger ‘no-brainer’ on the market.”
Read more in the full article here.