Shares of Apple jumped more than 7 percent Monday, with one analyst calling a two-month selloff in shares of the most valuable company on earth “insanely insane.”
After hitting an all-time high of $705.10 on the day the company launched the iPhone 5, Apple’s stock slumped into correction, and then into bear territory, down nearly 21 percent from September. Topeka Capital Markets analyst Brian White, who sees insanity in the stock plunge, believes that the selloff is overdone. He cites new “blockbuster” products for the holiday season – including the iPad Mini – as reasons for buying the stock “combined with growth opportunities in tablets and new potential areas such as Apple TV.”
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