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After blowout earnings, beaten-down Apple shares are ripe for the picking, say analysts

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Analysts tally up the wins for Apple following blockbuster results. One piece of advice: pick up some beaten-down shares.

The pullback in Apple shares since the start of the year is offering up a golden opportunity for investors to get some exposure to the tech giant, after a blowout set of results.

Muscling past a pandemic and supply-chain woes, Apple made just enough optimistic noises about the current quarter to keep Wall Street satisfied. Apple shares were up close to 4% in premarket trading on Friday, but a tech-fueled selloff for Wall Street so far this year has driven a 10% drop in shares of the iPhone maker.

“We believe as the active base of installed iPhone users grow, Services is likely to grow multiple times faster and should result in strong margin mix shift,” they added.

 

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