Apple Shares Bounce Back
For the past two trading sessions Apple Inc. (NASDAQ:AAPL) have inched higher after falling daily since mid September. Apple closed the day at $548 a share up 2%. Could we finally have experienced the bottom in Apple?
I would appear so, Apple is on the mend. For investors waiting on the sidelines to get in on Apple now is the time. After hitting $540 Apple Inc is now well above that level and closing in fast on $550. Thanks to the recent decline Apple is trading 33% from its 12 month high of $705. The stock is now attractive with a respectable price to earnings ratio of 12.6.
For Christmas everyone wants an iPhone, iPad or iPad Mini. Its just what we all want, the end. Yesterday Jefferies reiterated their 'Buy' rating on Apple Inc with a $900 price target. They believe Apple's gross margin issues being positively resolved in Q4. Mastery still believes Apple shares will hit $1,000 by 2015 (or before).
MASTERY Bottom line:
The time is now to pounce on Apple while it trades under $550.
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