Apple (AAPL): Is It Time to Buy the Stock?

By Feb 3, 2013, 8:18 AM Author's Blog  

As the U.S. market continues to flirt with record highs, Apple (AAPL)’s stock price keeps declining.

Since printing the tape at an all-time-high of $705.07 during the day on Sept. 21, Apple shares have plunged more than 35% to its current price of $453, erasing a staggering $235 billion in market value. So, is it time to buy the stock?

Joe Terranova of ‘Virtus Investment Partners’ tells CNBC he is a buyer.

“With the overall sentiment in the market being good, technology being good, I’m adding to Apple right now, doing it a little bit through the options market,” he said. “And I think longer-term, that is the right trade to make.”

OptionMonster’s Peter Najarian, disagrees.

“The time isn’t yet,” he said. “[Apple] has been a broken stock for a while now and until….they start to get some of [their] products actually working out in China, when they start to get to the phone market out there, that’s when we start to see Apple [moving] back up to the upside…”

Najarian also said there were better trades available in the market, noting that the Financial Select Sector SPDR (XLF) has performed “extremely well,” as has stock in insurance companies, such as American Int’l Group, Inc (AIG).

“They will continue to perform,” he said.

  • SHARE:
  • Share on StockTwits

LEAVE A COMMENT

SPY209.995  chart+0.205  chart +0.10%
GOOG629.90  chart-1.31  chart -0.21%
AAPL116.64  chart-1.80  chart -1.52%
TSLA261.67  chart+1.68  chart +0.65%
TWTR29.61  chart+0.34  chart +1.16%
BBRY7.61  chart+0.06  chart +0.79%
NFLX115.37  chart+2.81  chart +2.50%
FB93.93  chart-0.21  chart -0.22%

Nikkei20520.36  chart-27.75  chart -0.14%
UK6694.38  chart+5.76  chart +0.09%
France5107.75  chart-12.77  chart -0.25%
Germany11448.33  chart+4.61  chart +0.04%

EUR / USD1.0971  chart+0.0017  chart +0.16%
GBP / USD1.5609  chart+0.0022  chart +0.14%
CAD / USD0.7624  chart+0.0024  chart +0.32%
AUD / USD0.7407  chart+0.0130  chart +1.79%

Gold Fut1091.10  chart+1.90  chart +0.17%
Oil Fut45.76  chart+0.59  chart +1.31%