Apple Reenters Our Buy Zone (Technical Analysis, Rating Upgrade)

Summary:

  • Apple Inc. stock prices have corrected to around $170, making it an attractive entry point for long-term investors.
  • The corrections reflect short-term marketing thinking in my view.
  • Its long-term moat remains intact and is being strengthened by the growth of its service revenues.
  • It offers far better return potential than the broader market under current conditions.

Apple Reports Quarterly Earnings

Justin Sullivan

AAPL – why we like it around $170

The goal of this article is to update our thesis on Apple Inc. (NASDAQ:AAPL) and upgrade it from HOLD to BUY. We last covered the stock back in Dec


Analyst’s Disclosure: I/we have a beneficial long position in the shares of AAPL, BRK.B either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Seeking Alpha’s Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.


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