“It often pays to be a contrarian in the investment world; it’s a good way to pick up quality investments at a cheap price,” Thomas Scarlett writes for TheStreet. “But sometimes the contrarian instinct can go too far, as it has recently with Apple.”
“Apple is to 2016 what General Motors was to 1956: the company that defines the times we live in,” Scarlett writes. “But a rare spate of bad news has caused many analysts to turn against the company.”
“Have no fear: Apple is still a great company and a superb growth investment that is a solid choice for your retirement portfolio. Even better, it’s now selling at a bargain price, having declined more than 10% over the last four months,” Scarlett writes. “Thanks to the recent price slide, Apple’s price-earnings ratio is now below 10. That’s a ridiculously low level for the dominant company in America’s leading industry.”
Read more in the full article here.
MacDailyNews Take: Each rare island of sanity that pierces this endless ocean of lunacy is an overwhelmingly welcome respite.