“As Apple shares rose above $100 a short while ago for the first time since Thursday of last week, Gene Munster of Piper Jaffray took to CNBC’s ‘Fast Money: Halftime Report,’ to chat with host Scott Wapner and the gang about the note he put out late yesterday pounding the table for the stock,” Tiernan Ray reports for Barron’s.
“As Munster told Wapner, “There are periods we think are unique opportunities” for a given stock,” Ray reports. “Such is the case right now for Apple, he argued, given Apple’s “valuation on a 10-year basis is near a historical low.”
“Said Munster, people have sat on their hands because they’re scared,” Ray reports. “‘I’ve spent the past week meeting with investors. It is clear they are handcuffed going into the call [Apple reports earnings Tuesday, January 26th]. They are afraid there is going to be some sort of massive reset, they are waiting for the June quarter numbers [for iPhone] to come down based on the March guide.'”
MacDailyNews Take:
Be fearful when others are greedy and greedy when others are fearful. — Warren Buffett
“Munster was also peppered with questions about a potential automobile offering, some day, from Apple,” Ray reports. “He was upbeat about the sheer size of autos, arguing that ‘If they can replicate the success of BMW, a couple million units a year, that would add $135 billion in revenue, and on $260 billion in revenue annually, that’s meaningful.'”
Read more in the full article here.
MacDailyNews Take: Just wait ’til Gene starts telling ’em about the TV! 😉
SEE ALSO:
Why Apple is giving investors a heart attack – January 22, 2016
Morningstar: Apple sell-off looks overdone – January 8, 2016
Real world iPhone 6s adoption data contradicts Apple analysts’ so-called ‘supplier channel checks’ – January 7, 2016
Top-rated analyst: Apple’s iPhone business is healthy – January 7, 2016
Apple falls for third day as so-called ‘iPhone woes’ trim $40 billion in value – January 7, 2016
Apple stock price tumbles 3% in premarket, now trades well below $100 – January 7, 2016
Apple stock slumps near $100 amid ‘iPhone sales worries’ – January 6, 2016
Wall Street’s freak out over declining iPhone sales is overblown – January 6, 2016
Piper Jaffray: Apple’s iPhone production cut do not necessarily presage sales decline – January 6, 2016
Foxconn plans ‘rare’ holiday as iPhone output fears rattle investors – January 6, 2016
Apple to release Q116 earnings, webcast live conference call on January 26th – January 5, 2016