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Shares of Apple (AAPL) failed at $555 resistance on Friday and dropped back to $530. Apple (AAPL) will have support around $530 as well as $518 and $506. Apple (AAPL) is dropping due to fiscal cliff selling, the fundamentals of the company are the best ever.
In my opinion, you can throw all the bad news you want at Apple (AAPL) but the stock is trading at just 12 times trailing earnings and 9.5 times 2013 earnings. Wall St is now pricing AAPL at an insanely cheap valuation. The company pays a 2% dividend and has $122 billion in cash. Buy with confidence below $550.
Also see - Top Stocks 2013 - Top Gold Stocks 2013
