“Apple investors rejoice! The correction is over!” Matt Krantz reports for USA Today. “”
“Shares of the gadget maker are now down just 8.5% from their all-time high notched in April – ending what was a somewhat painful period for Apple investors,” Krantz reports. “Back in July, Apple’s stock first dropped 10% from their high as investors feared Chinese demand – and shares were down more than 20% at their worst point during the summer.”
“That’s in the past now. The afterglow of the company’s most recent quarter results – which came in better than expected – has put the stock back on track,” Krantz reports. “Shares of Apple are up $2, or 1.7%, Tuesday to $123.16. That’s an 11.5% gain this year – which beats the Standard & Poor’s 500’s 2.5% year-to-date gain.”
Read more in the full article here.
MacDailyNews Take: iCal sez:
The fear is that Apple is entering growth purgatory… You’d have to believe that the car would kick in, and drive revenues. Or that the watch would ultimately be something very big. But I think investors are worried about the next two-year period… I think its best days are behind it. — Toni Sacconaghi, Sanford C. Bernstein analyst, October 27, 2015. Apple shares closed at $114.55 that day.
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Analyst: I think Apple’s best days are behind it – October 27, 2015