Wall Street Analyst Says 'Buy the Dip' After Apple's Stock Price Steadily Declines in September

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Since hitting an all-time high of $164.94 on September 1, Apple's stock price has steadily declined throughout the month. Apple's closing price of $150.55 on Monday represents a nearly nine percent decline in just under four weeks.


Despite some negativity surrounding the stock, one Wall Street analyst believes the recent skid is a buying opportunity.

"We believe concerns around the strength of this cycle are misplaced and we would be aggressive buyers of the stock during this correction," said Brian White, a longtime Apple analyst at investment banking firm Drexel Hamilton.


White believes the staggered launch of the iPhone 8 and iPhone X is confusing industry observers, who are perhaps worried by reports of shorter lines at Apple retail stores and lower adoption rates of the iPhone 8 and iPhone 8 Plus.

"We believe more consumers in the developed parts of the world will pass on the iPhone 8/8 Plus and buy the iPhone X," added White, in a research note obtained by MacRumors. "Those that are on the fence will likely wait to see the iPhone X."

White is one of the most bullish Apple analysts, with a lofty $208 price target for the iPhone maker. If the price were to rise that high, Apple would be over a trillion dollar company based on market capitalization.

Raymond James analyst Tavis McCourt also said Apple's recent pullback is a "trading opportunity." His survey indicated there could be higher demand for the iPhone X than the firm initially anticipated.

Apple's slide has held back the Dow Jones, which is still up around 1.5 percent since the start of September. But it's not the only tech stock in the red, as Amazon, Facebook, and Netflix all declined Monday.

By comparison, Apple's stock price was up nearly 5 percent over this same period in each of the past two years.

Apple is up over 1 percent in early market trading today.

Article Link: Wall Street Analyst Says 'Buy the Dip' After Apple's Stock Price Steadily Declines in September
 

RickInHouston

macrumors 65816
May 14, 2014
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The big concern, I see...

Other than the 'I'm obviously going to buy the new phone'.

Others will say, "Wait, this new Ten is $600 more than that one (people will compare the retail price of the 8 with retail+applecare+two charging pads+tax of the one they are buying (they just do, it's human nature) and say, "now wait a minute!"
 
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DoctorDoctor

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Jul 14, 2016
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I don't understand how some analyst are confused on this. It seems pretty obvious most are waiting on the iPhone X. With that said I will say I think Apple really screwed this release up. The X should have been ready at announcement time and not months later.
 

Oblivious.Robot

macrumors 6502a
Sep 15, 2014
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Most people are probably waiting for the iPhone X, but fans aside it’ll be interesting to see people who are not in USA to shell about ~1,500$ after taxes for the 256Gb X.

To think that still excludes AppleCare, wireless charging pad or 29w fast charging adapter and usb c cable.
Then it balloons up quite a bit.

I’m buying one, I already have saved up as I’m upgrading after 3 years from the iPhone 6.
But, I don’t expect a large queue from where I am, honestly am not worried to be able to get my hands on one by December. (Unless supply is really restricted).
 
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OldSchoolMacGuy

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Jul 10, 2008
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I think it often goes down after a keynote, as over high expectations are shot down and reality sets in.It usually recovers when sales numbers start being known.
Every single time without fail it goes up before the Keynote and down after. You see the same with every company. Even when original iPhone was announced and Apple changed personal technology forever, it still went down.
 
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OldSchoolMacGuy

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Would be interested in asking Brian White of Drexel Hamilton what his view on 300,000 a month https://www.macrumors.com/2017/09/11/kgi-gold-iphone-x-possibly-delayed/ @ $400.00 approx gross profit for iPhone X 64GB

= the poultry amount (for apple) of $120,000,000 gross profit a month.

Based on above and lacklustre iPhone 8 sales it is hardly surprising AAPL is tanking.
You're showing your complete lack of knowledge on investing if you think the current price in any way shape or form indicates "APPL is tanking."

Please stop now before your embarrass yourself any more.
 

MH01

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Feb 11, 2008
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Most people are probably waiting for the iPhone X, but fans aside it’s be interesting to see people who are not in USA to shell about ~1,500$ after taxes for the 256Gb X.

To think that still excludes AppleCare, wireless charging pad or 29w fast charging adapter and usb c cable.
Then it balloons up quite a bit.

I’m buying one, I already had saved up as I’m upgrading after 3 years from the iPhone 6.
But, I don’t expect a large queue from where I am and honestly am not worried to be able to get my hands on one by December. (Unless supply is really restricted).
Excellent question . This is what I am thinking . And of those buying it , will face Id win them over or how many go back to an 8z interesting times ahead. Might end up being a huge success , even at its price
 
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Abazigal

macrumors G4
Jul 18, 2011
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With jobs running the show .....sure !

Mind you with jobs gone...... remember history ?
One bad experience is hardly enough to form a precedent. Apple may or may not end up like the past, but looking at how they are doing, I would say that Apple is in good hands. Maybe not the way people would have liked it to, but Apple remains a tightly-run ship nevertheless.
 
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LordVic

macrumors 603
Sep 7, 2011
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reminder: Stock prices today are based on what people/investors believe the performance of the company will be in the timeframe that they plan to hold the shares

This dip is just mild concern that sales of the iPhone 8 will not meet expectations. so the stock price suffers. however, whether or not that's true will likely not come out till the end of the quarter. so this is purely speculation. buy now if you believe the iPhone 8's sales will rebound, but if you don't, probably a good idea to hold off
 
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