Apple could provide investors with shelter
It feels like investor nerves are looking for refugee once again, as they’re extremely impressed by the opening setup on the stock exchange. Monday’s gloomy manufacturing news gave another reason to worry.
Wall Street forecasters are looking forward to a rocky start. Meanwhile, on Tuesday Credit Suisse reduced its year-end S&P 500 target to about 2,050 from the previous value, 2,150, justifying this move by a by a complicated macro picture and flat earnings growth this year. Investors as well as financial analysts around the world are waiting for oil stabilization.
Credit Suisse appeared to be the second bank to cut its S&P target this week. A J.P. Morgan strategist also cut his year-end S&P target from 2,200 to 2,000.
Furthermore, Credit Suisse isn’t alone in its concern regarding American economy. RBC Capital also drops a clear hint at the approaching downtime and offers a list of shares to get through it. Among them Apple is one of the first to be mentioned.
Along with semiconductor groups Microsemi and Broadcom, Apple boasts the most attractive stock set up in 2016. Moreover, share buyers can count on sound margin protection. The similar potential on the stock exchange is also demonstrated by Hewlett-Packard and IBM.