“Investors should buy Apple stock on the big dip, according to D.A. Davidson,” Tae Kim reports for Barron’s. “The firm’s analyst Tom Forte reaffirmed his Buy rating and $280 price target for smartphone maker’s shares, citing its inexpensive valuation.”
We believe the near-term challenges, including lower unit sales in emerging markets, are more than priced into shares. In fact, as Apple is able to further show its ability in mitigating tariff risks, we think the shares at current levels provide an attractive buying opportunity. — D.A. Davidson analyst Tom Forte
“The analyst noted even in a bad scenario where the trade conflict between the U.S. and China escalates, Apple can move its production outside the Asian country,” Kim reports. “He also said the company may increase its stock buyback plans and raise its dividend.”
Read more in the full article here.
MacDailyNews Take: We look forward to Apple’s holiday quarter earnings report (fiscal Q119) early next year.