“Negative sentiment toward Apple stock has gone too far, Drexel Hamilton analyst Brian White said in a report Tuesday,” Patrick Seitz reports for Investor’s Business Daily.
“‘In our view, the ‘gloom and doom’ sentiment engulfing the Apple story has reached extreme levels and we believe the stock represents an exceptional value,’ White said,” Seitz reports. “He reiterated his buy rating on Apple stock with a price target of 185.”
““We believe that Apple is extremely oversold,” White said. He predicted that the current quarter, Apple’s fiscal Q3, will mark a trough for sales and operating profit,” Seitz reports. “He expects Apple’s financials to recover starting this fall with the iPhone 7 release.”
Read more in the full article here.
MacDailyNews Take: White is correct in blaming the combination of a touch year-over-year iPhone compare and a rough macro environment for Apple’s recent share price issues.
[Thanks to MacDailyNews Reader “Arline M.” for the heads up.]