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November 28, 2012 at 13:30 PM EST
The Apple of Our Eye
We love Apple (NASDAQ:AAPL). It's a great company and a beacon of innovation for the entire technology industry. As for the stock we previously asserted that the shares were extremely cheap. However we suggested waiting until the stock dropped down to $550 before entering a new position. That has now happened. The shares have fallen by more than 20% in about a month. We think the recent selling is completely unwarranted and is instead a result of profit-taking ahead of a potential tax hike. This means that the recent move lower has almost nothing to do with the fundamentals ...
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