Apple Dips Into Negative Territory, Analyst Says Now Is Attractive Entry Point (AAPL)
Shares of Apple (NASDAQ: AAPL) have now moved into negative territory after gapping up at the open this morning. The high of the day was hit early in the session when the stock touched the $258.55 level.
Since then, however, AAPL shares have been dragged down into the red and are currently trading 0.45% lower at $253.01. The stock is outpacing the broader Nasdaq market, however, as that index has fallen 0.90% on the day to 2,333.
A Wall Street analyst appearing on CNBC today, said that now is a good entry point for buying the stock. Over the last three months, AAPL shares have gained 24.62%.
The stock is showing good relative strength during the recent market pull back. The ProShares QQQ Trust ETF (NASDAQ: QQQQ), which tracks the Nasdaq 100, has fallen 5.69%, while AAPL shares have gained 2.41%.
