By now, the investment world has opined on Apple
(NASDAQ:AAPL) enough to make investors dizzy. Trading on opinions is a good way of losing money.
Readers emailed us asking what to do now with the name since we downgrade the stock this past Monday
. Readers had a good opportunity to sell Apple on Monday; the stock closed at $634. At this juncture, we are waiting for one of two catalysts: (1) an approaching oversold level to begin a new position or (2) an upgrade back to a Buy (4 rating). Until further notice, we are staying out of Apple. Our advice to investors: Sit on your hands and let Apple come to you.
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No positions in stocks mentioned.
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