Not Much Further to Go for Apple Stock: Analyst
has crossed the key $500 a share mark, but Joe Magyer, senior analyst at The Motley Fool, is warning shareholders that the tech giant doesn’t have much further to go.
“If you are an Apple shareholder, there is a built-in expectation that the stock will outperform because results have been so strong on the topline,” Magyer told CNBC on Tuesday.
“You’ve seen the halo effect playing out, and if you’re an Apple shareholder you are absolutely confident this will keep rolling forward. Now, whether or not that happens, I think I am a little more skeptical,” he said.
Magyer pointed out that historically, consumer electronics companies suffer peaks and troughs.
“I know Apple doesn’t seem like it’s capable of ‘troughing.’ But that’s certainly going to be the case at some point, and I don’t think that’s baked into the stock price right now,” he warned. » Read More