It is going to take a while for the bulls to get control of this one again - might we soon start to see analysts reigning in their optomistic share price targets?
This looks like a traditional dead cat bounce. Apple and many other techy orientated shares were primed for a fall even if the market had not fallen back.
Apple was due for a "correction". Overly ambitious rating, supply issues because of coronavirus and a feeling that all of the potential good news was already in the price - surely the company can only disappoint from here?
The rating is still way to high for my liking, let alone the fact the market falls dont appear to have finished yet. Really dont get why people are piling into this one - the company cant even spend its multi billion dollar warchest!
I think there is further downside in the short term - the Fed interest rate cut is useless on its own. More needs to be done to fight the coronavirus!
I wonder if Apple will need to dip into that huge warchest? Or will they use it to buy up weakened companies which they can bolt on to their main business?
Surely it is time Apple to go on the offensive and unlock that war chest as there must be some tremendous bargains out there today? This must be time for the company to be bold and adventurous rather than conservative and boring?
As interest on deposit is minimal surely to god now is the time for Apple to go on the offensive with its huge war chest? If now is not the time then when is?
Its time for Apple to loosen the purse strings and add a new bow to the company's operations. If ever there was a time to loosen the purse strings it must be now? Some of the long term viable tech companies will collapse without new funding.
I totally agree with the comment that Apple needs to open the war chest and invest. We WILL look on this as one of the best buying opportunities for companies such as Apple with huge huge war chests.
