Apple is Barron's best stock idea for 2013
better value than Samsung's equity. Apple's stock set an all-time high on September 21st at $705. That date might sound familiar since it was the launch date of the Apple iPhone 5. Apple's stock price, which made the company the most valuable of all-time back in August, surely fit the bill of "buy on the rumor, sell on the news" considering the recent decline which has led to a close Friday at $533.
It should be interesting to see if Barron's is right. As we recently mentioned, those who look at stock charts have pointed out that Apple's downside penetration of both the 200 and 50 day moving average signifies more downside ahead for the Cupertino based company. To be sure, Apple has had a series of problems including the Apple Maps fiasco and technicians say a drop under $500 means look out below.
For those who are curious the other nine names on Barron's list include Barnes & Noble, BlackRock, General Dynamics, JPMorgan Chase, Marathon Petroleum, Novartis, Royal Dutch, Viacom B, and Western Digital. The top ten have returned 17% thus far in 2012 vs. 12.6% for the S&P 500.