Apple Stock Surges, Lifting 3 Suppliers Higher
In a big day for stocks -- with the S&P 500 up 7% at 2:04 p.m. EDT on Tuesday -- shares of Apple (NASDAQ: AAPL) are up 6.2%. While today's surge in the tech giant's stock is partly just the product of a big day for the market, one analyst issued a note to investors reaffirming that his long-term thesis hasn't changed, though his near-term estimates have.
Oppenheimer's Andrew Uerkwitz expects the iPhone maker's results to recover more quickly than other smartphone makers, due to the company's balance sheet and operations strength, along with the "essential" nature of the iPhone for millions of people around the world.
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Source Fool.com
