“With the stock down more than 15 percent over the past month alone, Apple Inc. could be seen as being in a ‘period of undervaluation,’ ARK Investment Management CEO Cathie Wood told Bloomberg TV,” Jayson Derrick reports for Benzinga.
“Wall Street analysts are wrongly focusing their attention on how many iPhones Apple is able to sell and their corresponding average selling prices, Wood said during an interview on ‘Bloomberg Technology,'” Derrick reports. “The Street’s simplistic approach to Apple’s stock overlooks the company’s Services businesses — which continue to expand beyond the App Store and into new ventures like health care and augmented reality, she said.”
Derrick reports, “As a services-focused company, Apple’s stock warrants a higher multiple compared to where the Street is pricing Cupertino as a hardware company, Wood said.”
Read more in the full article here.
MacDailyNews Take: All hail this brief break of sanity!
We now return you to the ongoing stampede of uninformed lemmings.
(Beloved interns, roll out the barrel! Cheers, everyone!)
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