Tags: Apple | Stock | shares | price

Apple Shares Soar as Topeka Analyst Calls Stock Undervalued

Monday, 19 Nov 2012 12:20 PM

Apple's stock surged 7.2 percent Monday, with one analyst calling a recent sell-off in shares of the iPhone and iPad maker "insanely insane."

Shares of Apple Inc. rose $38.05 to $565.73. Even with the gain, the stock is down about 20 percent from the record high of $705.10 that it hit in September.

Topeka Capital Markets analyst Brian White says the sell-off in the past eight weeks is overdone. He cites new "blockbuster" products for the holiday season — including the iPad Mini — as reasons for buying the stock.

Monday's increase was the biggest one-day gain since May 21, when the stock closed up 5.8 percent at $561.30.

© Copyright 2015 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

1Like our page

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

© Newsmax Media, Inc.
All Rights Reserved