Apple Inc. is the king of Wall Street right now. And to some, that’s a sign the tech icon’s best days are behind it.
But if you’re an Apple2 bear, it’s worth remembering that Apple didn’t just magically turn into a $725 billion company.
Yet in an age when it’s oh-so-fashionable to be a contrarian, it’s no surprise that many folks are hating on Apple amid this popularity.
Consider that the first quarter of 2015 is on track for a blended earnings growth rate of just 0.1% for the S&P 500 based on stocks that have reported thus far. That’s the weakest earnings season since the third quarter of 2012. Contrast that with a 33% earning surge at apple after another amazing quarterly report, and it’s no surprise that the stock has plenty of buyers even at these levels.
Let’s also not forget that the supposedly foolish people whose portfolios are overweight in Apple right now have enjoyed a gain of more than 50% in the past 12 months, more than four times the 12% gain for the S&P 500 in the same period.
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