In the darkest hour of Apple’s ‘white-knuckle period,’ some investors are loving it

“Apple’s stock was down $8.88, or 4.8%, yesterday, and the stock is down 23.7% since its peak in early October,” Jim Edwards writes for Business Insider. “AAPL is doing so badly it’s dragging down the rest of the tech-heavy NASDAQ, too.”
“We are in one of those unusual periods where there are more questions about Apple’s future than there are certainties,” Edwards writes. “Historically, only fools bet against Apple. Yet the ‘fools’ are winning. Anyone who bought the stock before the launch of iPhones XS, XS Max, and XR is now poorer.”
MacDailyNews Take: Only if the dupes sold at a loss in an uninformed panic. Those are the only fools.
“At least one investor is clear: Buy aggressively on the dip,” Edwards writes. “There will be no future bump in iPhone sales. But the average selling price of an iPhone has risen $220 since 2008, or 40%. The future is all about revenue growth. In addition, services revenue (apps, music, and so on) was up 17% year-on-year in Apple’s Q3 earnings this year. As Apple’s existing “installed base” of iPhones continues to grow — it will hit 1 billion phones by the end of the year, according to Bank of America Merrill Lynch analyst Wamsi Mohan and his team — the market for those services will also grow.”
Read more in the full article here.
MacDailyNews Take: The fomenters prey on the uninformed using specious arguments that knowledgeable investors can see right through.
Hoping for sub-$170, please!
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