Nasdaq Market Correction: 1 "Magnificent Seven" Stock to Buy Now, and Another to Avoid
Recession fears resurfaced last week when a disappointing jobs report raised questions about whether the Federal Reserve has waited too long to cut interest rates. That knocked the Nasdaq Composite (NASDAQINDEX: ^IXIC) into correction territory, meaning the technology-heavy index has fallen at least 10% from its record high.
The "Magnificent Seven" stocks have suffered double-digit declines, though some have been hit harder than others. Amazon (NASDAQ: AMZN) plunged 20% from its high, while (NASDAQ: AAPL) has slipped just 11%. Investors may be tempted to buy the dip in both cases, but not every pullback is a buying opportunity.
Amazon shares currently trade at a reasonable valuation, but Apple shares still look expensive. Here are the important details.
Source Fool.com
Apple Inc. Stock
Currently there is a rather positive sentiment for Apple Inc. with 100 Buy predictions and 9 Sell predictions.
With a target price of 214 € there is a slightly positive potential of 4.77% for Apple Inc. compared to the current price of 204.25 €.
