One stock that might be an intriguing buy right now is Apple, Zacks Equity Research writes. This is because Apple is seeing solid earnings estimate revision activity, and is in great company from a Zacks Industry Rank perspective.
This is important because, often times, a rising tide will lift all boats in an industry, as there can be broad trends taking place in a segment that are boosting securities across the board. This is arguably taking place in the Computer – Mini computers space as it currently has a Zacks Industry Rank of 45 out of more than 250 industries, suggesting it is well-positioned from this perspective, especially when compared to other segments out there.
Meanwhile, Apple is actually looking pretty good on its own too. The firm has seen solid earnings estimate revision activity over the past month, suggesting analysts are becoming a bit more bullish on the firm’s prospects in both the short and long term.
MacDailyNews Take: Once we get past this coronavirus issue, the sky’s the limit!
I’ve seen where Millennials are dumping Apple stock and buying Tesla stock for unlimited share gains. I guess that makes sense as Tesla’s stock seems to know no bounds despite having a negative EPS. Now it seems that even their solar business has suddenly become valuable. I’m almost willing to bet that Tesla’s P/E, if it’s ever revealed, will be three or four times that of Apple’s P/E. I honestly don’t see that many Tesla vehicles on the road but I live in the northeast U.S. and maybe Tesla vehicles aren’t as popular where I live due to the harsher winters. I wonder who is buying all these Teslas. I don’t happen to know anyone who is interested in buying one.
Anyway, it looks as though it’s Tesla stock where the sky is the limit and not Apple stock. The cult of Tesla appears to be much more powerful than the cult of Apple. I guess Tesla could be considered a tech stock more than an auto stock. Maybe Apple should have bought Tesla a few years back but I would have thought it was a waste of Apple’s time and money. It turns out I have little understanding of Tesla’s value. How Tesla stock is worth a $1000 a share is totally beyond my understanding.
I’m just musing about whether Apple stock is going to be the stock to own by major investors. Of course, I’m still keeping my Apple stock, but that’s just me and my loyalty to a dependable stock that gives dividends.
In the words of Warren Buffett, “in the short term the stock market is a voting machine, and in the long term it’s a weighing machine.” Unless Tesla can pull an Amazon and become a front runner in a completely separate, aggressively growing, and very profitable business, I’d have to say its valuation is insane.
The almighty car crash is coming…..
I respect Elon’s vision to accomplish. I question his follow-thru for the long-term. I still think Apple is a better long-term investment. IF the BOD for Apple would replace Tim Cook (but keep him on the team), and get a more aggressive CEO, Apple would thrive at higher peaks and at a faster rate.
Elon is a unprofitable CEO see Bill Gates or Steve Jobs…..