Is Apple stock a buy right now?
AAPL stock is down about 12% since hitting $132.97 on July 20 – the day before Apple Inc. (Nasdaq: AAPL) reported earnings and revealed that iPhone sales had missed expectations.
In mid-morning trading today (Tuesday), Apple stock was hovering around $117.
In addition to missing on iPhone sales in the June quarter, analysts have voiced concerns that the new iPhone 6s, expected to be revealed Sept. 9, won't grow sales as well as its predecessor.
Signs of weakness in the Chinese economy added to the consternation, as China has been an area of rapid growth for Apple. In the most recent quarter, Apple's revenue from China grew 112%, with iPhone sales rising 87%.
So does all this mean investors should stay away, or is Apple stock a buy at a bargain price?
That's the question host Stuart Varney of the FOX Business program "Varney & Co." posed to Money Morning Technical Trading Specialist D.R. Barton this morning.
For Barton's AAPL stock strategy, watch the video below.
Follow me on Twitter @DavidGZeiler.
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