Why Apple Is Floundering And The Stock Price Is Down
by Timothy Perdian
There is a prevailing theory among Apple (AAPL) investors that Wall Street has got it wrong: Apple is simply the world's best company and it is being priced at a PE of 9.5 instead of the S&P average of 15 because Wall Street does not understand the company. If you state that Apple is correctly valued and may even go lower, be prepared to be ruthlessly flamed in any forum where Apple is discussed. The Motley Fool, Forbes, and even Goldman Sachs (GS) have echoed that sentiment. There is no shortage of articles from Seeking Alpha and the on-line financial press that nearly every day make the case for Apple being a good buy at current levels. Bulls ignore the competition from Samsung (SSNLF.PK) and other factors that explain the declining stock price. But keep in mind that this has been going on since last fall, and so far, the stock is down 265+ points from its peak at 705. That is more than 40 percent. In November and December of 2012 when the stock was over 500 the same bullish arguments were made. read more »
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