Why the Apple Death Cross Doesn’t Matter

Videos
Apple (APPL) shares have plunged from their highs. Zacks Stock Strategists Tracey Ryniec and David Bartosiak discuss Apple’s fundamentals and its chart.

Apple is cheap. It is trading with a forward P/E of just 11.4. Earnings are expected to grow 41% this year but only in the single digits for next year. China now makes up 25% of revenue. Should investors be concerned for 2016 with China weakening and the estimates lower?

Shares have also just hit a death cross. David discusses why he thinks the death cross is meaningless and what else the chart is telling him about Apple.

Apple is a Zacks Rank #3 (Hold) but has a Zacks Style Score of A in Growth, Value and Momentum. Is it a buy here?

Watch our short video below to learn more about Apple.

Apple: http://www.zacks.com/stock/quote/AAPL?cid=CS-YOUTUBE-FT-VID

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