Is Apple Stock Overbought? The Answer May Surprise You.
With shares of tech giant (NASDAQ: AAPL) up more than 32% year to date, some investors might be wondering if the stock has become overvalued. After all, revenue or earnings didn't grow during this period. On the contrary, they contracted.
The stock's big gain, therefore, has been driven solely by valuation multiple expansion. Is the big move justified? Or is it time for shareholders to take some profit off the table?
Despite the stock's sharp and rapid rise this year, shares not only don't look overbought, but they arguably appear attractive.
Source Fool.com
Apple Inc. Stock
€206.25
0.190%
Currently there is a rather positive sentiment for Apple Inc. with 105 Buy predictions and 6 Sell predictions.
With a target price of 210 € there is a slightly positive potential of 1.82% for Apple Inc. compared to the current price of 206.25 €.
