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After a bracing drop, Apple could now be an epic buy

An Apple logo hangs above the entrance to the Apple store on 5th Avenue in the Manhattan borough of New York City, July 21, 2015. REUTERS/Mike Segar/File Photo

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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


 Varchev Traders

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