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Apple’s (NASDAQ:AAPL) stock has been hammered lately, leading to even some loyally bullish analysts starting to have misgivings about the company, but Techonomy Conference founder David Kirkpatrick is still sticking up for the iPhone maker. Kirkpatrick cited both technical and basic sales-and-revenue terms to insist that while Apple may be walking the market tightrope for now, there were no long-term worries.
Let’s Talk About Apple
“I don’t think there’s any fundamental problem with Apple,” Kirkpatrick told Yahoo Finance’s The Daily Ticker. “In fact, Apple’s P/E is still ridiculously low. It’s still by the far the world’s most popular consumer electronics company. I would be a buyer of the stock.”
Kirkpatrick also put his faith firmly behind Tim Cook, calling the Apple CEO a “brilliant” leader and insisting the executive had “a lot of tricks up its sleeve” for the coming year.
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CHEAT SHEET Analysis: Catalysts for a Stock’s Movement
One of the core components of our CHEAT SHEET investing framework focuses on the factors that could affect a company’s stock. According to the tech expert, sales of Apple’s best selling mobile devices, including the iPhone, the iPad, and the iPad mini, will stay strong in 2013, even though margins may come down gradually. Such confidence will certainly raise the hopes of Apple’s worried investors.
Kirkpatrick is also certain of that the much-rumored Apple TV — which will be a “real, full-fledged screen TV” that connects to the Internet — is on its way next year, proving to be a catalyst for sales and revenue as well as the stock.
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