“I’m not an Apple fanboy. I don’t like the ‘closed world’ of Apple’s technology, and I’ve never bought one of its products,” Jon Wallis writes for The Motley Fool.
MacDailyNews Take: Poor bastage.
“But not liking a company’s products is not necessarily a good reason not to buy the shares,” Wallis writes. “I’m not wild about Coke, but I’d be very happy (and rather wealthier) if I’d bought Coca-Cola shares when Warren Buffett did.”
“I didn’t buy Apple shares at the end of the ’90s because I didn’t think much about the company at all. At worst it seemed washed up — at best it made niche products for trendy people and graphic designers,” Wallis writes. “As the share began its upward trend under Steve Jobs, it always seemed that it just couldn’t continue, and so I resisted buying. As Apple’s price climbed and climbed, my resistance to buying grew with it, because surely it couldn’t go any higher. But it did, and I should be kicking myself.”
Wallis writes, “I reckon it’s fallen too far for a company of this quality and growth record, and too far for a company with nearly $140 billion — almost a third of its market cap — in the bank. Irrational negativity about the company has taken hold and the sell-off has been too big. At its current price, Apple is on forward P/E of under 9. That’s just wrong. And that’s why I’m seriously thinking of buying Apple.”
Read more in the full article here.
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