Apple Is Still A Great Buy

Filed under: Apple Inc (AAPL)

On Monday, Apple, Inc. (AAPL) announced that its founder and CEO Steve Jobs was taking another medical leave of absence. The stock was initially hit on this news, but there has been almost no follow through to the downside. In fact, the shares have bounced back to within $10 of where they were trading prior to the setback. This suggests that there continues to be strong demand for the stock at its current valuation.



Furthermore, the company reported tremendous earnings on Tuesday after the closing bell. Apple reported earnings per share of $6.43 compared to $3.67 in the year ago period and analysts' consensus earnings per share estimates of $5.39. Year over year revenues were up 70.5%. It was an absolute blowout quarter which showed that the company is still experiencing tremendous momentum with their product line, particularly with the iPhone and iPad.

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Apple Is Still A Great Buy originally appeared on BloggingStocks on Wed, 19 Jan 2011 18:30:00 EST. Please see our terms for use of feeds.

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