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Thursday January 03, 2013
Top stocks 2013: Apple
by Stephen Quickel, editor US Investment Report Can Apple Inc. (AAPL) return to the $700 level? Whether its does or not, I suspect that the stock will be one of the outstanding comeback stories during the year ahead. Indeed, even if it rebounds to $600 or so, that's a 20% gain. Most investors would settle for that. And chances are it will do much better over time, given Apple's knack for coming up with new products. Short sellers have cleaned up since they began bum-rapping Apple in late 2012. Three observations are appropriate:
Whether or not Apple comes up with a TV-type product, as current speculation has it, one would be mistaken to assume that this enormously talented company has run out of its creative juices. At some point, to be sure, the law of large numbers comes into play; Apple one day will grow at a slower percentage pace just because it has grown so large. But at $150 billion in revenues, we aren't there yet. Last year, my Top Pick for this report was the then much-battered Amazon,, which has since rebounded more than 40%. Can Apple make it two winning calls in a row? Apple is risky. The stock, after all, trades well below its 50-day and 200-day moving averages. But there's noting wrong with buying into a fundamentally strong company when it's down. This has the earmarks of a good buying opportunity, especially in a steadily improving economy and federal fiscal issues resolved. Nor, however, is there anything wrong with waiting for a confirming rally in AAPL before jumping in. Learn more about this financial newsletter at Stephen Quickel's US Investment Report. Related articles 
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