The investment world has thrown the baby out with the iPhone. As much as a fan favorite Apple Inc. (NASDAQ:AAPL) was, it is now hated on by nearly every investor. Institutions and investment kings like Carl Icahn have dumped their positions, hundreds-of-millions of shares sold.
The stock currently trades at $95.32, +0.33 (+0.34%), down from a 52 week high of near $135.00. This is a whopping 30% fall for a company that sits on an epic cash pile and pays a solid $2+ dividend per year. With an over 2% yield in an environment that has seen the 10-year yield slump below 1.4%, Apple should not be ignored.
It may not be the flashy growth stock it once was, but it is a company that will continue to pay you. At current valuations, it is probably one of the smartest stocks to hold with the Brexit uncertainty shaking the stock market. In addition to the valuation and dividend yield being attractive, the daily chart is compelling.
Note below the down-sloping trend line that hovers at $104. There is also a major gap fill there. The stock is heading there like a magnet drawn to metal. Also, note the recent higher low put in. That is a very bullish chart.
Lastly, the negative investor outlook is probably one of the brightest things for the company. Finally the expectations are at rock bottom after years of being sky high. This will set the company up to easily outperform expectations.
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