Apple computer (AAPL) is down huge after earnings report and "weak" guidance. Jim Cramer is cautious about the stock. Last time such combination of events happened in May-July 2006. It was a huge buying opportunity. I think it is now, again. Stock trades at future P/E 21.56 and PEG 1.24. It's a buy!
Would I buy more? Apple is a biggest position in my portfolio, even at a current price, so discipline says I shouldn't. But situation is so tempting...
Apple can go even lower, so due diligence should be observed (buying in stages).
Full disclosure: at the time of publication author had long position in AAPL. Positions can change at any time.
Disclaimer: This article is not intended as an investment advice. Every person should make her/his own investment decisions based on all available information and advice from her/his own financial advisor.
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