Is it time to buy Apple shares yet?

“Shares of Apple remain under heavy pressure, bobbing just above the recent lows,” Bret Kenwell writes for TheStreet. “We’ve seen big swoons in Apple before. The latest one started after the company reported earnings, telling Wall Street it will do away with reporting unit sales of its iPhone.”
“Does it matter? In reality, not really,” Kenwell writes. “Take a step back and look at the company we’re talking about here. Apple trades at 12.5 times this year’s earnings and despite its decision to remove unit sales from its reporting, is still expected to post pretty solid growth. Analysts expect almost 5% sales growth this year and 4% growth in 2019. Earnings expectations call for 12% growth in 2018 and 10% growth in 2019.”
“But let’s not forget about its titan of a balance sheet, $100 billion buyback plan (with another big buyback plan due up in April or May) and 1.8% dividend yield. Its Services unit is churning out $10 billion in sales per quarter now while year-over-year growth remains robust, north of 25%,” Kenwell writes. “Despite the swoons in the stock price, Apple will gobble up stock, Services revenue will continue higher and its business will grow stronger. That said, let’s look at the stock charts.”
Read more in the full article here.
MacDailyNews Take: You’ll not likely time the bottom perfectly, but…
When the lemmings, er… “analysts” start their upgrade parade, then you’ll know the bottom has been found. – MacDailyNews, November 26, 2018
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In fiscal year 2018, Apple’s revenue grew over $36 billion to $265.6 billion. For the current quarter, Apple has guided for revenue between $89 billion and $93 billion, a new all-time record. (That’s revenue of roughly $1 billion — with a “B“ — per day.)
When analysts learn to see without the unit share blinders Apple has just removed, hopefully their eyes won’t pop out of their heads when they finally see those huge numbers and realize how very much more is to come. — MacDailyNews, November 28, 2018