AAPL Apple Stock Sinks During After Hour Trading Giving Good Buy Opportunity

Despite good Quarterly Earnings Report, AAPL apple stock has fallen to around $120 per share. Wall Street was left unimpressed. Despite beating earnings estimates on Tuesday evening, Apple’s stock has sunk in after-hours trading and is on course to write a new page in the history books.

Even though iPhone sales climbed 35 percent to 47.5 million units in the fiscal third quarter, the result fell short of the 48.8 million shipments projected by analysts. That, plus a revenue forecast for the current period that missed estimates, triggered the steepest post-earnings share decline in extended trading Tuesday since January 2013, when Chief Executive Officer Tim Cook was under scrutiny over his ability to keep up Apple’s pace of innovation and sales growth.

Now this AAPL sink doesn’t mean you should freakout. This depression in AAPL price is an incredible buy opportunity. This is what this analyst thinks. There’s been a lot of discussion recently about how buybacks might amount to “financial engineering,” especially if a company is buying back shares at high prices, or if the buybacks simply counter the dilution caused by stock-based compensation to executives, or if the money might be better spent on business expansion. But those arguments don’t mean much in the case of Apple, whose cash is piling up.

Though Apple’s stock is depressed, it is nonetheless an incredible bargain.

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