“After dipping below $500 on Tuesday, shares of Apple rebounded on Wednesday, retaking the $500 mark, still trading close to 30 percent below its all-time high,” Panos Mourdoukoutas writes for Forbes. “Does this rebound signal the end of the four-month sell-off?”
“I cannot read the mind of the market, as Apple’s stock has become very volatile recently. What I can say, however, is that investor sentiment has shifted from maximum optimism in September to maximum pessimism in the last week,” Mourdoukoutas writes. “That’s certainly a bullish indicator for contrarian investors, and it may very well be one of the factors driving the stock’s rebound today, as there are no official corporate developments to account for the rebound.”
Mourdoukoutas writes, “The definitive answer to the above question will be given next Wednesday when the company reports earnings… I believe that the debate over Apple’s product pipeline is overblown, for a simple reason: Apple’s product innovations are disruptive; and disruptive innovations don’t come out every year; but when they do come they create entirely new markets that last for years.”
Read more in the full article here.
[Thanks to MacDailyNews Reader “Rainy Day” for the heads up.]