“Apple (AAPL) is still the No. 1 stock to buy,” Richard Cox writes for TheStreet. “Markets have found a bottom value (just north of $400), and the most well-known brand in the world will now regain its footing and move back toward the higher end of its historical valuation for the rest of 2013.”
“The main fundamental driver for this will come in the back end of 2013, where the Street’s earnings could rise as high as 15% (after the 14% declines that will likely be seen in the first half of this year),” Cox writes. “Markets are clearly at an inflection point with the stock valuation of Apple, and this presents some excellent opportunities for investors looking to capitalize on the rebound. While the June quarter might not be stellar, any lags in the stock price will only extend the window of opportunity for new buy positions. ”
Cox writes, “Most promising will be the new line of products scheduled to roll out in the second half of the year. This will be the central reason to own the stock.”
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