Oh No, Apple Shares Falling
After an incredible ride is it really that hard to believe that Apple Inc (AAPL) shares can't go up every single trading day? Come on.
Apple shares have fallen for five straight trading sessions, off its 52-week high of $644. Today AAPL is down another 3.3% and trading at $585.28. Its really not news and nothing to go crazy about, the stock was due for a pullback.
Mastery, as much as we have bashed the stock for being to high in the past, this may present a temporary buying opportunity. Apple shares are down on zero news this past week and its shares now trade with a 17 P/E.
Apple could bounce in the coming days on success of its iPad launch across the world. The new iPad goes on sale in South Korea and 11 other countries this week. The iPad hits India on April 27th, time will tell if its a hit there.
MASTERY Bottom line:
The pullback on Apple shares was due, it may be a great entry point.
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