Dear Valued Visitor,

We have noticed that you are using an ad blocker software.

Although advertisements on the web pages may degrade your experience, our business certainly depends on them and we can only keep providing you high-quality research based articles as long as we can display ads on our pages.

To view this article, you can disable your ad blocker and refresh this page or simply login.

We only allow registered users to use ad blockers. You can sign up for free by clicking here or you can login if you are already a member.

Here’s One Key Reason to Be Bullish About Apple Inc. (AAPL): Analyst

As the trading days continue to pass by, Apple Inc. (NASDAQ:AAPL)‘s fundamentalists increasingly appear to be in a vis-a-vis position with technical analysts. On one side of the aisle, shares of the tech giant are obviously attractive, trading at below-average valuation metrics, from the P/E to the P/C ratios. From a chart-watcher’s perspective, however, AAPL is slowly treading into bearish territory, nearing the dreaded “death cross” (see Should You Trade Apple Near the Death Cross?), in addition to seeing high volume on down days, a classic “sell” signal.

Apple Inc. (NASDAQ:AAPL)

In the midst of this debate, though, investors may have missed one very important piece of information coming from notable Apple analyst Brian White of Topeka Capital Markets. White is known for having one of the most bullish AAPL price targets on Wall Street; he currently holds a $1,111 target on the tech company.

As originally reported by Barron’s this morning, White reported a massive uptick in his “Apple Monitor” last month. According to Barron’s, the Apple Inc. (NASDAQ:AAPL) Monitor “looks at sales by Taiwanese electronics manufacturing firms that supply Apple, as a sort of proxy,” and on a monthly basis, the index rose by 16% in November. This spike is notable, because it is “three times the average increase over the past seven years.”

From White’s standpoint, the above-average gain “is driven by the strongest new product ramp in the company’s history,” but what does it mean for investors? Well for starters, it did predict Apple Inc. (NASDAQ:AAPL)’s disappointing earnings in the company’s fiscal third quarter this summer. In June, one month prior to the release of Apple’s Q3 results, the Monitor dropped by 13%.

Obviously, it’s impossible to know what Apple’s top line will be until it reports its first quarter results in late January, but if supplier sales are any indication, we may be in for a positive surprise. On the Street, the consensus revenue estimate is $54.8 billion, which would mark an 18% increase year-over-year. At Apple Inc. (NASDAQ:AAPL)’s current valuation, it seems clear that if the stock were to receive such a positive growth driver, a significant portion of the recent selloff could be erased.

Biotech Stock Alert - 20% Guaranteed Return in One Year

Hedge Funds and Insiders Are Piling Into

One of 2015's best hedge funds and two insiders snapped up shares of this medical device stock recently. We believe its transformative and disruptive device will storm the $3+ billion market and help it achieve 500%-1000% gains in 3 years.

Get your FREE REPORT and the details of our 20% return guarantee today.

Subscribe me to Insider Monkey's Free Daily Newsletter
This is a FREE report from Insider Monkey. Credit Card is NOT required.
Loading Comments...

Thanks! An email with instructions is sent to !

Your email already exists in our database. Click here to go to your subscriptions

Insider Monkey returned 102% in 3 years!! Wondering How?

Download a complete edition of our newsletter for free!