Apple Inc. (NASDAQ:AAPL) is the most widely discussed stock on the blogosphere, second to none. From Cupertino’s secret hedge fund, to rumors of a potential smart watch in the company’s product line, there’s never a dull moment.
Today, on CNBC, Robert W. Baird analyst Will Power was discussing Apple Inc. (NASDAQ:AAPL)’s prospects. Power called the stock his “top pick,” adding that “we continue to like Apple [...] on the weakness.” Here are more details from the interview:
“Stock’s been beaten up as we all know over the last couple of months, but all of our checks suggest that demand remains very good [...] even the supply chain side that our semiconductor team has come up with, suggest that procurement numbers remain good, so we like the outlook over the near and long term.”
It’s worth mentioning that Wall Street on the whole expects Apple Inc. (NASDAQ:AAPL) to grow its earnings by an annual average of 19-20% over the next half-decade. At an earnings-growth multiple of a mere 0.61, it looks pretty clear that the markets are under-appreciating the tech giant’s prospects moving forward. With a projected dividend yield slightly above 2%, income investors can also receive a decent payout while waiting for a turnaround.
In addition to discussing Apple Inc. (NASDAQ:AAPL), Power also mentioned a few other of his tech picks. Continue reading to see what he likes..