Apple Inc. (AAPL) is a ‘Buy’ Ahead of New Product Launches: Charles Payne

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Apple Inc. (NASDAQ:AAPL) is going to launch much awaited iPhone 6 next month according to the reports. Answering the question about Apple’s stock and whether it is a ‘Buy’ or not in a program on Fox Business, Charles Payne said that Apple is a ‘Buy’ because after the new product launches, it will regain its charm and touch new heights. Payne also said that the latest reports of new iPads can also give a lift to the Apple stock, but Apple must be vigilant about the cannibalization because of two product releases. He said that Apple Inc. (NASDAQ:AAPL) does not normally come up the to the hypes of the media.

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“I do think Apple Inc. (NASDAQ:AAPL) is a ‘Buy’, I am an Apple Inc. (NASDAQ:AAPL), our subscribers are an Apple, and Apple has reclaimed some of that charm, […] I think when this thing gets over a hundred bucks, it’s going to regain some of that legendary status […],” said Payne.

Payne said that there is no news so far about the Apple Inc. (NASDAQ:AAPL)’s TV and Apple has probably delayed this product because of new iPhone 6 and tablet releases. He also said that a bigger version of iPhone 6 will likely deplete the iPad sales, because the phablet version of iPhone 6 will serve the purpose for which iPads are bought.

FBN’s Tracy Byrnes said that Apple cannibalizes the sales very often and keeps its customers waiting for the new products. She said that Tim Cook has a strategy of not releasing Apple Inc. (NASDAQ:AAPL) products at once to keep the customers waiting and excited about the upcoming releases. She also said that there is a high chance that the bigger version of iPhone 6 will be released after the smaller version.

Disclosure: None

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