“When Apple (AAPL) shares recently saw their single worst day since January, dropping over 4% in a single day and wiping out over $26 billion in market value, the reactions were mixed and often severe,” Douglas Ehrman writes for Seeking Alpha. “Few stocks have been as impacted by rapid shifts in sentiment as those of the iPhone maker, but many of these suggestions seem too reactionary.”
The unveiling of the iPhone 6 on September 9, plus the potential for an iWatch announcement, should outweigh short-term negatives,” Ehrman writes. “The dip in Apple shares should be seen as a buying opportunity as I believe shares will run higher thru the announcement.”
Ehrman writes, “Ultimately, Apple shares have upside to $110 or beyond, in my opinion, and I would take the dip as a chance to acquire additional shares.”
Read more in the full article here.