But as is the case with companies dependent on the diminished spending power of consumers, Apple's stock is still best approached with a healthy degree of caution.
Even the continuing popularity of Macs, iPhones and iPods won't provide Apple immunity from the current economic contraction, analysts warn. The consensus estimate is for Apple's per-share net profit to dip to $5.20 this year from $5.26 in fiscal 2008 (ended in September) before recovering to $5.97 next year. As can be seen in the accompanying table, Apple's net for the 12 months ended Dec. 31 was $5.39.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV