The editors at Fortune published a story I wrote for them today on a certain level of caution that investors should use when relying on fundamental analysis as a tool to make short or intermediate term price projections for Apple (NASDAQ:AAPL) or any other company. Though valuation proves very useful for making long-term predictions, history has taught us that patience is key when making investment decisions.
Even today, Apple has been very range bound largely due to the sizable market correction that began on April 26 suggesting that Apple, like nearly every other company, is at the whim of the larger concerns of the broader market at least in the short-term. As I noted in the article, I'll be running a second piece on Apple's long-term valuation this week, but I had to stress just how important it is to have a long-term horizon on the company when relying on valuation as a basis for investment decision. So much so that it warranted a full article on the subject. You can read the full piece here.
Disclosure: Disclosure: All Cash.