“So far, 2016 hasn’t been a good year for Apple,” Kat McKerrow writes for TheStreet. “Since the markets opened on January 4, the company’s stock has been sagging, dropping from a high last year of $134 to $92.39 on January 28. This week, the stock finally pushed back above $100 again.”
“The headwinds should soon pass and Apple’s inherent strengths will come to the fore,” McKerrow writes. “The company is predicting $50-53 billion in sales for the first quarter ending in March. That would be a 14% year-over-year decrease and would mark the company’s first year-over-year unit and revenue decline. In addition, slowing markets in China, where Apple realizes nearly 25% of all sales, plus an unfavorable currency exchange rate, are pushing down the stock.”
“Analysts are expecting that the bad news is over,” McKerrow writes. “The hurdles that the company has faced are now priced into the stock, they say. The company’s stock is ready to rise again.”
Read more in the full article here.
MacDailyNews Take: Back above $100 feels better than below, but not quite a good as $134.54 did.