Apple investors are now suffering from an unusual condition: loss of money.
After surging as much as 42 percent from the end of 2016 to the beginning of September, Apple has seen a bracing series of losses. The stock slid 5 percent last week alone, for its worst weekly performance in more than a year.
Yet Wall Street analysts, always a group somewhat predisposed toward looking on the bright side, say the lack of enthusiasm could actually be a bullish indicator.
"Any Weakness for Early Sales of iPhone 8 Could Be a Case of 'Short-term Pain for Long-Term Gain,'" Piper Jaffray analyst Michael Olson advised in a Friday note. He explained that "potential buyers may wait for iPhone X," and that since the X will tend to be about $250 more expensive than the 8, "a mix shift toward iPhone X, even to the detriment of near-term iPhone 8 units, is positive for Apple."
Source: Bloomberg Pro Terminal
Junior Trader Stefan Panteleev
Read more:
25 Canada Square, Level 33, office 50, Canary Wharf London, E14 5LQ +44 20 3608 6256
World Financial Markets - 0700 17 600 Varchev Exchange - 0700 115 44
Varchev Finance Ltd is registered in the FCA (FINANCIAL CONDUCT AUTHORITY) with a passport in the United Kingdom: FCA, United Kingdom - registration number: 494 045, which allows provision of financial services in the United Kingdom.
Varchev Finance Ltd strictly comply with the statutes of the European directive MiFID (Markets in Financial Instruments). targeting increased efficiency, transparency and uniformity of financial instruments.
Varchev Finance Ltd is authorized and regulated by the Financial Supervision Commission - Sofia, Bulgaria: License number RG-03-02-05 / 15.03.2006
The information on this site is not intended for distribution or use by any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.
Disclaimer:
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 63,41% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.