REASON FOUR: Stock price beat down unfairly.
While peaking over $700 may have been too much too soon, there is not doubt that the reason fall below $400 was unjustified. I see this as an easy $600 stock and that is my target right now.
I think it is a solid buy in the $400 range.
Here is why. When you look at analysts estimates some have beat the stock up as missing their earnings estimates for the last couple of quarters. The truth is those “misses” are so minor that it totally defies logic that the stock has fallen so much. The real truth is that AAPL shares are way undervalued based on the cash position of the company and just about anyones estimates for the quarters and year coming up. Get ready.