Why Apple stock is far from dead

Apple shares are taking a dive.
Apple shares have been taking a beating!
Photo: Ste Smith/Cult of Mac

AAPL stock fell to a new 52-week low last week, signaling its longest loss streak in 18 years, but portfolio managers aren’t close to throwing in the towel on Apple just yet. In fact, this could turn out to be the equivalent of a Black Friday sale for anyone wanting to get their hands on some massively undervalued stock!

“Things aren’t as bad as everybody thinks,” said Dan Morgan, senior portfolio manager at Synovus Trust, speaking on CNBC‘s “Squawk on the Street.” “[Apple has] a tremendous amount of room to grow.”

Sapphire supplier CEO cashed in his shares before iPhone 6 reveal


GT Advanced Technology shares have dropped a massive 93%.
GT Advanced Technologies CEO appears to have parachuted out before shares hit rock bottom.

The idea that the iPhone 6 and 6 Plus would have a sapphire display was one of the most widely reported errors leading up to the unveiling of Apple’s next gen iPhones.

But while plenty of time was spent discussing the possibility, very few people made any money through the speculation — except for Tom Gutierrez, CEO of sapphire manufacturer GT Advanced Technologies, which just filed for bankruptcy protection.

According to the Wall Street Journal, one day before Apple revealed its new iPhones wouldn’t feature sapphire screens after all, the boss of the struggling company cashed in more than 9,000 shares of GT stock for an average price of $17.38 — bringing in a total of $160,000.

Since February this year, Gutierrez has sold close to 700,000 shares in his company, valued at more than $10 million.

Apple Shares Fall More Than Six Percent Today, Biggest Single Day Loss In Four Years



Apple shares took a tumble today, with a over six percent loss, making this the largest stock drop in a single day, making it the biggest one in four years. Analysts and other investors are blaming the sell-off and resulting stock price drop on many factors, including a recent forecast by an influential firm that Google’s Android operating system continues to gain ground, as well as unconfirmed reports that at least one stock-clearing house has been raising margin requirements on trades in Apple stock.

Forrest Gump’s Investment In Apple Would Be Worth $7 Billion Today


Gump's investment in Apple would make him a billionaire today.
Gump's investment in Apple would make him a billionaire today.

In the 1994 Oscar-winning movie Forrest Gump, there’s a short scene in which Tom Hanks’s character opens a letter of thanks from Apple after his former military colleague and business partner Lieutenant Dan invested some of the profits from the Bubba Gump Shrimp Company in “some kind of fruit company.”

If Gump was real and if he was still clinging on to his investment today, he could have a staggering 12 million shares in the Cupertino company, worth around $7 billion.