Does 2013 Look Good for Apple?
Apple’s (NASDAQ:AAPL) recent rotten performance has driven many a loyal shareholder away, but investment website Barron’s is putting its faith in the world’s most valuable company in the coming year, too. In its list of ten top stocks to watch out for in 2013, the financial website has placed Apple at the very top.
What is the Apple Forecast for 2013?
“Apple is still going strong, even as the company’s shares have traded down 23 percent, to around $540, from a September peak of $705,” Barron’s wrote in its premium report, according to BGR.
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Apple reached that high mark in intraday trading on the buzz around the launch of the iPhone 5, though its closing high on September 19 was at $702.10. Since then, though, it has tumbled on worries of rivals gaining market share, increasing product component supply problems, and concerns about narrowing margins. Apple shares closed at $533.25 on Friday.
However, the drop does not bother Barron’s. “None of the recent investor concerns — lower margins, supply constraints, management changes, iPad competition, and the iPhone 5 map fiasco — are major,” the report said. “It’s true that Apple’s earnings growth has slowed to a 23 percent rate from more than 100 percent a year ago, but that’s understandable, given the company’s $156 billion in annual sales.”
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