#7 - Apple (NASDAQ:AAPL)
Another company that I love right now is Apple (NASDAQ:AAPL). The company’s supply chain took a direct hit when its factories in Wuhan, China were closed due to the virus. Those factories are back on line, but the company has recently said they are forecasting the possibility of soft demand for its new iPhone scheduled to be released later this year.
Like other companies, Apple stores are being closed as the world rides out this quarantine period. Not surprisingly all of this activity has knocked the stock down 17% in 2020 with virtually that entire loss happening in March.
But Apple is every bit the cult stock that Tesla is, but Apple has a more affordable product and a longer track record for investors to believe in. The pandemic hasn’t infected Apple’s devices, just the opportunity to buy them. This is a company that has consistently been doubted, and consistently defies the naysayers. I see no reason why this time is any different.
About Apple
Apple Inc designs, manufactures, and markets smartphones, personal computers, tablets, wearables, and accessories worldwide. The company offers iPhone, a line of smartphones; Mac, a line of personal computers; iPad, a line of multi-purpose tablets; and wearables, home, and accessories comprising AirPods, Apple TV, Apple Watch, Beats products, and HomePod.
Read More - Current Price
- $255.01
- Consensus Rating
- Moderate Buy
- Ratings Breakdown
- 24 Buy Ratings, 11 Hold Ratings, 2 Sell Ratings.
- Consensus Price Target
- $236.78 (7.2% Downside)
