“Apple Inc. is the king of Wall Street right now,” Jeff Reeves writes for MarketWatch. “And to some, that’s a sign the tech icon’s best days are behind it; Apparently, popularity is always equal to ‘irrational exuberance’ in the eyes of some investors.”
“But if you’re an Apple bear, it’s worth remembering that Apple didn’t just magically turn into a $725 billion company with $230 billion in projected sales,” Reeves writes. “It got to be huge and hugely popular because it’s a wildly successful company, and perhaps the biggest success story of the last 25 years.”
“So don’t hate Apple stock simply because it’s popular, or because you missed the party,” Reeves writes. “In fact, considering the lack of alternatives and the proven growth of the iPhone giant, it may be profitable to jump in on the bandwagon and enjoy the ride while there’s still time… In a sideways market where there aren’t a lot of alternatives, Apple is one of the few bets in town that continues to offer a decent return potential.”
Read more in the full article here.