“Shares of Apple have been stuck in a rut, down 2% over the past month and 14% over the past three months,” Bret Kenwell reports for TheStreet.
“Even when analysts defend the stock and reiterate their bullish stance, the share price doesn’t move higher, said TheStreet’s Jim Cramer, co-manager of the Action Alerts PLUS portfolio, said on CNBC’s ‘Mad Dash’ segment,” Kenwell reports. “This trend concerns Cramer but he is not changing his long-held stance that Apple is ‘a good one to own, not trade.'”
“Apple stock has a low valuation, Cramer insisted,” Kenwell reports. “It seems like investors are selling it in order to raise capital for other investment opportunities but shares will likely to regain momentum at some point — athough it could be a few more months before that happens, Cramer noted.”
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MacDailyNews Take: Apple dividends are the gift that keep on giving.