Apple's doing something it hasn't done in more than a decade (via TradingNation)
div > div.group > p:first-child"> The stock has been trading well above Wall Street's average price target of $195, settling at $207 on Tuesday after gaining more than 1%. Still, Wall Street analysts are the most bearish they have been on the stock in years, with 16 buy ratings, 14 hold ratings and 3 sell ratings, according to FactSet."Quite frankly, the Street has been offsides on this stock.
"[Apple has] executed very well on transitioning from unit sales over to services, and services are all recurring revenue and high margin, so I think the analysts are finally beginning to wake up and they're applying different multiples to these different business lines," he said."And, obviously, the deal with Qualcomm ensures that Apple's going to have that 5G phone sooner than later.
"Once it becomes a consensus buy, that's when all the easy money has been made and that's the time to get out and sell," he said."So, right now, I like the stock. There are catalysts to take it higher and I think it's going to continue to run." "There's always going to be volatility, of course. But, really, over the short, intermediate and long term, Apple's in a long-term uptrend, or an uptrend with momentum," she said in the segment, pointing to the stock's move above its 50-day and 200-day moving averages, which tends to signal strong momentum.
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