Apple investors appear to have had concerns about slowing growth and possible antitrust actions assuaged as Apple stock is approaching a buy point after rebounding from a spring sell-off.
Patrick Seitz for Investor’s Business Daily:
In morning trading on the stock market today, Apple stock rose 0.2%, near 136.65. Earlier in the session, it climbed as high as 137.02.
Apple stock is nearing a buy point of 137.17 out of a cup base, according to IBD MarketSmith charts. However, trading volume has been well below average.
Morgan Stanley analyst Katy Huberty says Apple stock faces several headwinds… “We recognize these risks but have a more positive outlook,” Huberty said. “In the near-term, we believe the June quarter will be stronger than originally expected as iPhone and iPad builds are tracking ahead of our model.”
Huberty rates Apple stock as overweight, or buy, with a price target of $162.
MacDailyNews Take: From Huberty’s lips to Mr. Market’s ears!
Did the writer prescribe the “buy point” when share price was in the $120’s? I won’t say now isn’t a buy point, but the relative excitement compared to a month ago is curious…f the “cup base.”
Great question DF. This site ALWAYS puts buy points @ higher #’s with “cup base” BS. If any stock savvy MDNer can explain this novel approach to “buy high not low, this pilgrim would be most grateful. Cheers
YES!!! Exactly. I don’t know WTF these people think and why anyone should believe them. I like Katy, I think she does a great job, but to make a call like this is just so stupid. To be fair, she has been a bull all along but this is just a dumb call 🤦♂️
Call me old fashioned, but I reckon the best time to buy AAPL was in early March, early May or early June, when it was around $125 rather than $137
The last time AAPL hit a buy point it stuck there a bit and then fell hard. Volume right now is so low that trying to suggest AAPL is going to take another leg higher is borderline lying.
After watching Apple stock for 20 some years, and prematurely selling a few times, the best lesson I’ve got is to buy and hold. Given the company’s R&D in key areas – its chip designs for example, it’s bets years are in the future.
I’ve owned and traded AAPL for a little longer than that. I used to buy and sell on certain predicable points in the Apple calendar and did very well out of it, but in the last ten years or so, it’s been much more difficult to spot definite opportunities to buy or sell, therefore I mostly hold my AAPL these days and am quite happy with its performance over the long term.
As many say, “the trend is your friend” and the trend is upward. Now may be a good time to buy, but the last 2-3 months would have been better.
AAPL is 5-6 points from ATH and it’s better today than yesterday, or the day before, or the day before, or the day….the trend is your friend.
Apple stock doesn’t seem very predictable, but I’m always thinking that the massive stock buybacks sort of mess up any predictability. Why would any fund be buying Apple stock while the buyback plan is ongoing? The whole point of the buyback is for Apple get rid of stock for a cheap a price as possible, so let Apple do it’s thing. I suppose it’s OK for the little investor like myself to buy small amounts along the way, but funds are going to buying millions of dollars worth of stock in one shot, so there’s no hurry for them to get in (hence the low volume). I get tired of reading these “Is it time to buy Apple?” articles. I suppose there are the best times to buy Apple, but anytime is a good time to buy Apple stock in the long-term of things.
Why are Apple shareholders always worried about slowing growth with Apple? Don’t most companies have that same problem? I mean, there’s always a chance of slowing growth that can happen all of a sudden. Is this the usual iPhone growth thing they’re worried about? I would think higher Mac sales would somewhat ease that concern.
Why are your comments always overlong?
He offers an opinion and then explains his reason so that intelligent people can understand why he has formed that opinion. I’ll happily read any amount of comments like that instead of the off-topic political crap.
@Nick: why are your comments always trite emptyheaded whining?
If you are too rushed to read anything longer than 244 characters, you should find another social media tool or go back to school. Or both. And learn some effing manners.
didn’t apple
invest in DIDI about 2-3 years ago? Wonder how many millions that’s worth now
The way I look at investing is that you have to believe in the company mission, how they do business, and how ethical the principals are before giving them significant capital.
What is confusing about this site is a significant number of posters that MDN supports truly hate the people of Apple, where they do business, and how they act. Their posts are 95% bile and hate.
You can easily find faster growing companies and you can find safer places to put your money. Why do you keep trying to pump AAPL?