The consensus of Wall Street analysts sees Apple returning to growth in the December quarter. Interested AAPL investors are wondering if Apple stock is a buy right now.
Patrick Seitz for Investor’s Business Daily:
Apple has been an American success story several times over. First, it ignited the personal computer revolution in the 1970s with the Apple II. Then it reinvented the PC in the 1980s with the Macintosh.
Co-founder Steve Jobs returned to run Apple in 1997 and oversaw a winning streak of innovations that included the iMac, iPod, iTunes, iPhone, iPad, and the App Store.
The biggest driver of Apple’s modern success is the iPhone…
In late December, a ruling by the U.S. International Trade Commission forced Apple to stop selling its Apple Watch Series 9 and Apple Watch Ultra 2 smartwatches.
AAPL stock has an IBD Relative Strength Rating of 79 out of 99. The Relative Strength Rating shows how a stock’s price performance stacks up against all other stocks over the last 52 weeks. Apple stock currently is in the top 10% of all stocks for performance.
Apple stock has an IBD Composite Rating of 81 out of 99, according to IBD Stock Checkup. IBD’s Composite Rating combines five separate proprietary ratings of fundamental and technical performance into one easy-to-use rating. The best growth stocks have a Composite Rating of 90 or better.
Apple stock is not a buy right now. It is showing weakness after its Dec. 5 breakout from a cup-with-handle base at a buy point of 192.93, according to IBD MarketSmith charts.
MacDailyNews Note: Currently, Apple shares are down $1.62 (-0.84%) to $191.43.
Please help support MacDailyNews. Click or tap here to support our independent tech blog. Thank you!
Support MacDailyNews at no extra cost to you by using this link to shop at Amazon.
No, it’s going to have a tough time breaking through $200. Apple Vision Pro will be way too low volume to make an appreciable difference for a year or more. Most of the products have been refreshed in the past few months, new iPads that do the same exact things just marginally faster aren’t going to be a catalyst. The Watch ban has been stayed for now but the stock took the hit. Late October at $167 was the last good recent entry point. I expect a lot of middling performance in 2024 while all the tech companies that have taken AI seriously continue their run.
“… while all the tech companies that have taken AI seriously continue their run.” If you followed Apple’s history you would see that they (typically) don’t release products half-baked and early, just to be able to say they were “first.” They’ve been pouring R&D dollars into AI for many years AND are designing their hardware (CPUs) around a AI that does not require all your info to be transmitted to the “Mothership” like Google, MicroSoft, and others. “Machine Learning” in your pocket …
“Investors” pour money into anything that has AI, just like they did in the 90’s with anything that had “internet.” But who’s still around and flourishing? Microsoft and Apple, both slow to the internet game.
For me, the right time to buy AAPL is when I have more cash to allocate, and Apple always gets some of that.