Despite posting one of their most profitable quarters ever, Apple’s stock (AAPL) has taken a dive over the last two months. It’s been down nearly 25% from it’s recent highs and some analyst have said that the stock is great buy right now.
This morning, Brian White from Topeka claimed that the sell-off in Apple’s stock over the past weeks has been “insanely insane” given how Apple is poised to have a record breaking holiday quarter. Since making his claim, Apple’s price has jumped up 5% today.
At the time of publication, AAPL is selling at 558.32 per share, which is a gain of 30.64. Optimism around Apple’s holiday lineup, mixed with bullish claims from investors may be one reason why the stock is rebounding.
Other factors that may be helping the stock include optimism about the looming fiscal cliff after President Obama met with Tim Cook and other Fortune 500 CEOs, as well as an improvement of the European markets.
Source: Business Insider