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How Will This Affect Apple and Its Investors?
Enis Taner of RiskReversal.com told CNBC that while the trends did not look good, all investors needed to do was to be cautious. “The technicals don’t look that good,” Taner said. “The stock has missed earnings two straight quarters, and very few people actually talk about that. You need to see Apple perform, I think, in the coming quarter before the stock is stabilized enough to buy it.”
According to Taner, there had been a shift in sentiment regarding Apple. “I think Apple’s a value stock,” he told CNBC. “It’s no longer a growth stock.”
Scott Redler, chief strategic officer at T3Live.com, agreed with Taner’s point, saying that it was no longer a given that Apple shares would head back to record highs. “The news today created a perfect storm after technical analysis already pointed to lower prices,” Redler told The WSJ. “Overall it seems the psychology of Apple has changed a bit — the perception is no longer that you can just buy all dips in Apple and close your eyes.”
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