From BI:Google is the new Apple. Well, not necessarily, but while
Apple's stock continues to grind lower, Google's stock is on a tear. And now analysts are jumping over themselves
to get more bullish on Google. Just
yesterday, two separate analysts put $1,000 price targets on the stock.
What gives? Well, of course people can make up all kinds of
stories about the momentum of either company, and their products and so forth. But there's a bigger macro-market story as well. Throughout
recent years, Apple has basically been an asset class on its own: Gold, commodities,
stocks, bonds, and Apple. If you were in
Apple, your portfolio did great. If you weren't, you almost certainly lagged
the market. End of story.
At a time when people were uncertain about markets, Apple
was a solid store of value. A company growing at abnormal speeds at a good
price. Even if the economy were to slow, there was Apple, which you know would
still be crushing it. But things have
shifted in recent months…..
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