“Investors looking for value may find it in an unexpected place, according to Hugh Johnson of Hugh Johnson Advisors: Apple,” Fred Imbert reports for CNBC.
“‘The upside potential, in my judgment, is at least 30 percent. I know everybody is worried about the fact that there is a slowdown in smartphones… but also a slowdown in China. I understand that,’ Johnson CNBC’s Power Lunch on Tuesday,” Imbert reports. “‘But keep in mind we’re going from 50 million middle-class buyers of iPhones … to about 500 million in the next five years,’ [Johnson said].”
“Johnson added he thinks the broader market is oversold and that stock market investors will see sizable gains in 2016,” Imbert reports. “[Johnson said], ‘The level of pessimism, especially among smaller investors, is extraordinarily widespread. When you get a market that is this undervalued, and you get a lot of pessimism, that’s a combination you rarely see.'”
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Read more in the full article here.
MacDailyNews Take: From your lips to Mr. Market’s ears, Hugh!