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Apple Losses Take Big Bite Out of Markets

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  • Description

    Wedbush Securities managing director Scott Sutherland gives his outlook for Apple stock.

  • Duration 3:38
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This transcript is automatically generated

We'll bring you the numbers.

I take a look at this -- is apple shares turning higher today after a five day losing streak but whether or not.

You own list dot outright you need to pay attention.

Apple's five day losses took a big buy -- the S&P 500 and out of the NASDAQ joining us now Scott Sutherland managing director -- us.

-- -- -- -- I think there's been a lot of concern about the fact that apple has such power over -- ES -- NASDAQ.

Do we just sort of Bible lesson about the size -- -- -- that.

Well I think we look at the -- of the stock I mean obviously -- being fairly represented.

I'm conversely it's not been in the Dow Jones and some have claimed that it was in the -- -- that it would create more optimism in the market and is there right now.

All right let's talk about this because the stock itself.

Has been tenfold tenfold since march of 2000 -- -- six -- I mean if you look at the -- longer term run of the stock like apple.

Understandably so when the run up what's happening you know 08092010.

With all the new products coming up the elevation of Steve Jobs that.

Scott he's gone and there has been concerned that -- like to see the innovation we've gotten from this company can't continue without him.

Alive.

Is that a fair concern.

They care.

I think it a longer term it's a fair concern I think before you left and obviously -- book the -- as the platform for the next decade.

Severity of the platform plays I think some -- the products you know even as book you mentioned about BM apple TV.

He already implant they're so we're seeing now I still think has his.

Thumbprint on those products.

Longer term I think keeping the development cycles quick and good parts coming out will be key and -- -- -- a little bit their long term.

-- -- we talk about a company like apple again the fact that it is such major -- now the S&P and -- -- NASDAQ.

If somebody was thinking of themselves OK maybe I'm concerned about the -- -- bam a sell out even -- it's part of my holdings right now take a little bit off the table.

Where else could they go do you think they can get the income parable growth that made apple won't deliver for the rest of this year.

Well obviously I think there might be out some of the FaceBook affect people holding some money back to get involved in FaceBook which should be -- -- believe in me coming out.

-- there are other large cap growth companies out go out there.

But clearly I think -- talking individuals out there apple has been a significant holding for those of hell the last three years and diversification still -- for some people.

We just got one of the things that concern me about apple and not public concern a lot of people uphold the stock when they have the whether -- big figure -- not.

Was the volume the cell volume was actually pretty strong over this five day period we had that seven day period of selling back.

In the fall of 2011.

Do you look at the volume when you -- -- -- you know your opinion and apple.

Well I think that is that more minor impact that we look at we continue to focus on the product roadmap.

The fundamentals in the valuation of the company we still think is very strong.

But clearly after -- 50% run up since it started this year.

There's been a lot of money going into apple.

Maybe some of -- -- -- coming out pretty fast here you know ahead of the quarter are some people made some pretty quick gains year to date.

I think the fundamentals are still -- the valuation here are still makes a lot of sense long term.

Last question ten billion dollar stock buyback that is the plan here deal like that -- -- Yeah I think sure orders have been looking forward to us some sort of return of capital on buyback and dividend -- the dividend more.

But the our buyback is as one form -- that so I'll I like that a little bit.

Scott Sutherland Webber securities and direct Scott thank it's a stock to watch the.

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