A dip in in Apple’s stock after a report of weakening iPhone demand may offer a rare buying opportunity into Cupertino Colossus, says one market strategist.
Brian Sozzi for Yahoo Finance:
“We actually like Apple, and we are adding to our position,” said Victoria Fernandez, Crossmark Global Investments chief markets strategist, on Yahoo Finance Live, adding Apple’s fundamentals are “strong.”
Apple bulls remain aplenty on Wall Street even on iPhone demand concerns.
“Our iPhone 13 checks continue to be much stronger than expected with our belief that Apple is now on pace to sell north of 40 million iPhones during the holiday season despite the chip shortage headwinds. The focus of the Street has been on the lingering chip shortage for Apple (and every other tech and automotive player), however the underlying iPhone 13 demand story for Cupertino both domestically and in China is trending well ahead of Street expectations in our opinion,” said Wedbush tech analyst Dan Ives in a research note this week.
Ives said Apple is his top tech stock pick, and believes it has the potential to reach $200 a share over the next 12 months.
MacDailyNews Note: Shares of Apple are currently down a mere $1.00 (-0.61%) to $163.77.
Please help support MacDailyNews. Click or tap here to support our independent tech blog. Thank you!
AAPL down a bit over .50% and the World is melting. AAPL’s projected estimates at last earnings report drew stock down a few percent, but AAPL left that “deficiency” in the rear view mirror with new record highs.
In these times of devalued dollar, ridiculous debt and bond returns that actually mean losing money b/c of inflation, AAPL (and some other MangFangs) are a great store of value options that all cash flow well and some offer a great divi.
What’s not to like about owning AAPL!
Indeed.
That is, if you have the money as inflation is at a 30-year high affecting EVERYTHING. Winter home heating costs up 50%, even Christmas trees up 30%, crime and murder rates at historic highs, millions projected to lose their jobs and benefits as a result of Democrat DICTATOR policies, and much more too numerous to mention.
45% of Americans report financial hardship triggered by increased prices:
https://news.gallup.com/poll/357731/inflation-causing-hardship-households.aspx