Joe Terranova says margin calls and short-term thinking are driving shares down
Recalling the S&P in 2009, top trader Joe Terranova says this is a once in a lifetime opportunity to secure AAPL shares. Speaking on CNBC this weekend, trader Joe Terranova advised Apple investors to buy, buy, buy!Currently at $527.68 (€413), the AAPL share price is about to go a lot higher, according to Terranova.
“I bought it at $240. I think Apple is experiencing a March 2009 moment; what that means is it’s a generational buy […] I am all in on Apple,” he said on live TV.
“It think what’s driving it lower here is margin calls, short term thinking… Longer term, this is the buy,” Joe Terranova added.
Some analysts aren’t so optimistic, though. While such fluctuations have occurred in the past, recent blunders such as the Maps fiasco and Apple’s highly-incremental product announcements as of late have prompted some brokerage firms to hold off any radical forecasts.