Apple hit a low of close to $483 a share today since it peaked at around $705, does CNBC’s Joe Terranova still think Apple is a generational buy? He said he bought some Apple shares at $540 and was buying more when Apple was around $520 a share when the video below was recorded. Terranova called it a March 2009 moment, when Apple was trading for under $100 a share.
You do have to say that Apple is close to bottoming out here. That Terranova is right but just off buy 50-100 points give or take – yeah that’s a lot of points. But Apple has over $117 billion in cash alone and it now has a dividend that’s well over 2% – before long it will be one of those Jim Cramer favorite “accidentally high yielders”.
Of course, Apple could go lower, as maybe margin call hit, but it certainly seems like it’s getting close to a huge buying opportunity. After all, I don’t think people are going to all of a sudden stop buying Apple products when all the products integrate with one another. Plus, the growth across the world and in China is still to come.