Thursday October 02, 2008
"We expect that an Obama-Biden victory will provide a renewed sense of optimism on the part of middle class consumers," says growth stock specialist Nate Pile.
The editor of Nate's Notes suggests, "To profit from this expected trend we would buy shares of Apple (NASDAQ: AAPL)."
"Apple has been crushed this year on concerns about consumer spending. Any improvement in consumer spending that may come from an Obama win should only add fuel to the fire that is already burning brightly for Apple.
"The company's product line-up is one of the best in the consumer electronics space, and as we have been anticipating for a number of years now, success with products outside of the PC market is translating into growth rates for the Mac line that are significantly above the industry average.
"Apple’s stock price certainly suggests that there is a huge buyer boycott going on when it comes to tech stocks these days.
"Part of the reason for the continued slide is being attributed to the lack of a 'major announcement' at a recent publicity event, though I believe the fall has more to do with where we are currently at in the 'psychology cycle' on Wall Street than anything else.
"Though we may have to wait until we get through tax-loss selling season this year to see a significant rebound in the stock price, we believe Apple's best days are still ahead of it, and a win by Obama will only help to accelerate the trends that are already underway for the company."
