“After three tough months for Apple, the tech giant is finally finding a bottom, according to one trader,” Stephanie Yang reports for CNBC.
“Apple shares are down more than 20 percent since November due to concerns about slowing iPhone sales and a difficult economic environment in China,” Yang reports. “But that selling makes this the ideal time to make a bullish play on the stock, according to Andrew Keene of AlphaShark.”
“Keene believes that new products will give Apple a much-needed boost. Keene also noted that the company is still holding plenty of cash,” Yang reports. “‘In the short term, we might get some volatility… [but] it is starting to consolidate here,’ Keene said Thursday on CNBC’s ‘Trading Nation.’ ‘This is a tug of war between the bulls and the bears to see who wins… And Keene says the bulls now have the edge.”
Read more in the full article here.
MacDailyNews Take:
[Thanks to MacDailyNews Readers “Fred Mertz” and “Dan K.” for the heads up.]
452 information stock companies have been suffering an average 11.5% decline in stock valuations – so it isn’t just Apple that is being squeezed by Wall Street.
http://www.usatoday.com/story/money/markets/2016/02/05/tech-wreck-destroys-514b-year/79875316/
I just bought 10 more shares. It’s a steal.
And the bulls and the bears keep in excrementing on the long term stock holders.
On, not in. Sheesh!
I don’t play this game, but a friend who does this for a living told me, “Bears and Bulls make money, Pigs never do.”
You have to figure now that Apple is below its split price and the company isn’t losing money, combined with dividends and buybacks it is likely to go up above the split price. The company has to be at worth at least that much. I’m not going to expect any more than that until new iPhones are released. I believe the world is going through a period of economic weakness so I can understand somewhat why Apple is down in 2016. The most I can even hope for in Apple’s share price is that it reaches $130 again sometime this year. That shouldn’t be asking for too much as it would bring the P/E to around 13 or so.
You are talking about numbers like a scientist, in the end you just hope for the best.
Yawn.
Bloodbath on Wall Street today, an ocean of RED!.
Gaaglbet is down over 100 points in 2 days.
With all the 24 hour “Business” news channels, instant text advisories and Twitter accounts trying to scare the hell out of you, the tendency of the average stockholder is to hold onto their stock for a much shorter period of time.
Be an investor, not a day trader. There are people out there that make a living taking money away from day traders.