Did You See Gene Munster’s Opinion of the Massive Apple Inc. (AAPL) Selloff?

In his note, the Piper Jaffray analyst also mentions the death cross that has technical analysts in a tizzy, in which he mentions that “we believe that for this technical indication, most of the damage has been done to AAPL, but there could be a worst case additional 10% move to the downside which could be the next meaningful area of support.” This worst-case-scenario might be achieved if Apple Inc. (NASDAQ:AAPL)’s 50 day moving average crosses below its 200 day moving average, but it’s worth noting that this has not happened as of yet.

From a valuation standpoint, you know where we stand (see Is It Safe To Buy Apple Again?), and the stock is still the top pick among billionaire hedge fund managers (see the full list here). It’s encouraging to see a few rational rebuttals from Gene Munster’s corner, who has made a career out of shedding insight on the tech giants, Apple Inc. (NASDAQ:AAPL) in particular. Let us know your thoughts about Apple at the moment, and if you’re using the selloff to boost your stake, or if you’re sitting on the sidelines.