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Back on July 10 - in the Private Briefing column "What Our Experts Predict For the Year's Second Half" - Capital Wave Forecast Editor Shah Gilani said that Apple Inc. (Nasdaq: AAPL) was a flat-out "Buy."
Shah liked the stock so much, in fact, that he re-recommended it in the special report "Bernanke's Deal With the Devil," which we released very soon thereafter.
At the time Shah first issued his "Buy" alert, Apple's shares were trading 40% below the all-time high of $705 set back in September. And it was clear that investors had really fallen out of love with the stock.
But Shah said those investors needed to open their eyes. The iPhone and iPad maker was cash-rich, and due for a shakeup. And the stock perfectly represented the kind of low-risk/high-upside profit play that you need to consider given the U.S. Federal Reserve's desire to throttle back on its quantitative-easing efforts, he said.
For all those reasons, Shah told us, it was likely that Apple's shares had bottomed.
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