'Let Apple go,' strategist says – buy these stocks instead $AAPL (via TradingNation)
Craig Johnson, chief market technician at Piper Sandler, disagrees. He predicts consumer spending to spring higher, driven by pent-up demand, once the worst of the outbreak passes.
"Right now [is] obviously a very difficult time in the country with the pandemic," Johnson said during the same segment. "From a tactical perspective, I think people are going to want to get out. And I think a lot of these cruise lines and airlines and these other players are going to really start to cut price, drive traffic, we're incentivizing some additional payment checks coming in for people that are going to be laid off.
"People are still going to step up and they're going to buy the iPhone. You know, when this gets relaunched and gets released for the 5G iPhone, they're going step up and buy it. We saw the iPhone get released in 2007 and 2008 in the middle of the crisis there. Consumers still were able to open their wallet and buy these things," said Johnson.
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