/// Apple Investors Return to Senses After Brief Moment of Insane Insanity
Apple’s stock rallied Monday following a decline that dragged the price down 20 percent from an all-time high in September. By mid-morning Apple shares were trading around $557, up about $30, or 5 percent, from their closing price last Friday. Driving the rally: A number of analyst reports calling out the slide as unmerited and touting Apple as undervalued. In a note to clients this morning, Topeka Capital Markets’ Brian White said Apple’s slide is a real head-scratcher. “The sell-off in Apple’s stock over the past eight weeks has gotten to the point of being ‘insanely insane’ given the depressed valuation, new blockbuster products for the holiday season, the attractive long-term growth opportunities that lie ahead and the company’s ability to distribute significant cash flow to investors,” White wrote.