Analysts: Buy Apple Stock


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You may have heard that Apple’s stock took a hard drop yesterday.  This is one case however, where analysts are still suggest buying it.

According to Peter Burrows of BusinessWeek, “Wall Street got hung up on Apple’s skimpy forecast for Q2 earnings, despite knowing full well that Apple always offers up skimpy forecasts.”

“Yes, Apple’s forecasted earnings were 15% below consensus estimates, compared to the 9% difference that Apple has typically guided to over the past seven quarters, according to Piper Jaffrey analyst Gene Munster,” added Burows.  “But then, we are heading into a possible recession. It makes sense that a company that routinely lowballs would do so even more at a time of such uncertainty. ”

iPods have been in a sales slump, but are still performing well.  Macs however, have been selling like hot cakes.

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