Analyst: Apple Will Pop Soon
While there may not be a lot of love around Apple (NASDAQ:AAPL) stock these days, investment expert Cody Willard thinks the stock is a “potential popper in the near- and mid-term.” Willard wrote for MarketWatch that while the ongoing fall in Apple — the stock has dropped more than a third of its value since it reached a closing high of $702.10 in September — was substantial, it wasn’t worrisome.
“I’ve mentioned before that I’ve seen pullbacks in Apple that lasted longer and went deeper than even the current 30 percent drawdown from Apple’s all-time high,” he wrote. “I’ve been following Apple over the years since I owned it from $7 in March 2003.”
Willard said he was planning to add Apple common stock to his portfolio soon and may even add call options in the stock if it showed signs of moving back toward the $500-mark. Apple call options have been “been very, very good to me and my investors and subscribers,” Willard said…