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Thursday, Dec 13
2012, 5:30 PM
It's time to "back up the truck" on Apple (AAPL -1.7%), says Oracle Investment's Laurence...
It's time to "back up the truck" on Apple (AAPL -1.7%), says Oracle Investment's Laurence Balter, who's reiterating a Strong Buy and $670 PT. Balter notes Apple money flows are down $1.56B over the last 30 days, something he considers a sign of retail capitulation, and believes block trade activity indicates heavy institutional buying. He ignited a firestorm in August by downgrading Apple to Hold (shares then traded at $659), but has made multiple upgrades since. (iPhone estimate cuts)