Apple: Up 10% From The Bottom And Going Higher
by Bret Jensen
There are four basic types of investors; Growth, Value, Income and Momentum. For many years, Apple (AAPL) was a stock that appealed to all these investors with the exception of Income investors. Although its growth was phenomenal for years, its earnings multiple rarely got above the overall market especially if one considers its giant cash hoard. From the stock market bottom in March 2009 to its all-time in Mid-September, Apple was a stock that made all of its investors (growth, value, momentum) consistently happy. However, starting with its descent from over $700 a share in September all the way down to its recent low of $420 a share; Apple gradually lost its investor base. First, momentum investors started to bail when the stock moved under its 200 day moving average in early November. Then growth investors started to abandon the stock soon thereafter as concerns about declining gross margins and increasing competition from Samsung weighed on growth investors worried about falling earnings estimates. This left only the value investors to support Apple's stock price. read more »
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