Apple has been down for 8 of the last 9 sessions and for the first time in over a year - threatens to break the 200 DMA. What happens if the red line in the sand doesn't hold? Will we see a real break lower - towards 115 perhaps?
I think most of this selling is an expectations game. The earnings report was only a disappointment if you were looking for perfection. The fact is Apple sold a pile of iPhones and other devices (including Macs) - and turned in a wonderful quarter. The balance sheet swelled to 204 BILLION - meaning not only is the dividend safe - it will be going higher. Much, much higher.
Apple right now could be the best bargain on Wall Street. 1.71% dividend yield. 14 P/E.
Short term rating = BUY
Long term rating = STRONG BUY
I think most of this selling is an expectations game. The earnings report was only a disappointment if you were looking for perfection. The fact is Apple sold a pile of iPhones and other devices (including Macs) - and turned in a wonderful quarter. The balance sheet swelled to 204 BILLION - meaning not only is the dividend safe - it will be going higher. Much, much higher.
Apple right now could be the best bargain on Wall Street. 1.71% dividend yield. 14 P/E.
Short term rating = BUY
Long term rating = STRONG BUY