General World News

Apple’s stock has doubled in the last year. Here’s why a longtime investor says it’s not time to sell. (AAPL)

FILE PHOTO: Tim Cook, CEO of Apple, attends the annual Allen and Co. Sun Valley media conference in Sun Valley, Idaho, U.S., July 10, 2019. REUTERS/Brendan McDermid/File Photo

  • Apple’s stock has essentially doubled in the last year, giving it a price-to-earnings valuation at the high-end of its recent range.
  • But that doesn’t mean it’s overpriced, said Dan Morgan, a senior portfolio manager with Synovus Trust.
  • Apple’s stock sold off in late 2018 and early 2019 after its sales plunged in China and overall, but its overall business has stabilized and certain businesses are showing strong growth.
  • Plus, compared with those of other tech companies, Apple’s valuation looks modest, Morgan said.
  • Click here for more BI Prime stories.

Dan Morgan realizes there are reasons for investors to be skeptical about Apple.

The read more >>>

Source:: BusinessInsider.Com