iWatch Sales Not A Problem For Apple
Blue chip stocks in the tech space have few competitors that are as strong as Apple, Inc. (NASDAQ: AAPL), and newer investors continue to grapple with the question of whether or not it is a good time to buy Apple stock. Of course, there are always going to be arguments for and against this type of stock strategy but when we look at other major tech giants, such as search engine giant Google, Inc. (NASDAQ: GOOG),there are still some clear positives that should be considered.
Perhaps most important is the fact that sales of the company’s iWatch have not exactly been the massive disappointment that many had initially anticipated. It was clear right from the beginning that Apple would need to make some sort of entrance into the wearables market, and many have even argued that this mobile device should have been made available much sooner.
These sales have been stronger than many analysts had forecast, so this still puts the stock ahead of competitors in other sectors, such as Bank of America Corp. (NYSE: BAC), and Exxon Mobil Corp. (NYSE: XOM). All of this points to continued rallies in Apple and it still looks as though it is a good time to buy AAPL stock.
Apple, Inc. (NASDAQ: AAPL)
(Chart Source: Swiss Forex Broker)
In the chart above, which has been provided by CornerTrader, we can see that the overall trend remains positive in this closely watched consumer stock. This essentially means that the sales of the company’s new iWatch have not damaged the broader outlook for the company. Prices have started to stabilize at the upper levels, so it would appear that it is only a matter of time before Apple stock will rally again. This makes AAPL one of the best stock strategies that can be found in the current market environment.