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-- all right well look shares of apple has changed gears a little bit so bouncing back now often nearing.
500 bucks a share as Wall Street analysts cut their estimates and price targets for the tech giant but my next guest says.
He -- apple and is holding onto -- long term joining us now Mike croft and CEO of the Philadelphia trust company Mike will.
Get -- the bigger picture of the markets -- a -- this is talk about apple probably have a number of major banks Citigroup the latest cutting their price targets on apple.
You know I yes -- quite a -- thousand dollars was the price target what is a reasonable price where do you see apple going.
I think Apple's reasonable in the mid six hundreds given they can't they have on the balance sheet given how well the iPhone 5 is selling -- great sales in China over the weekend giving the I -- many in the Christmas season.
I think Apple's really poised to have.
A good finish to this year I think they're really well positioned for next year.
Particularly if we get to the apple TV which I think is going to be another game changing technology I think apple TV will put apple right back into -- Well everybody's targets very kids -- holding long term he's still think it's a -- this price.
Food I think we're gonna have a lot more selling between now and year -- the next couple weeks because of the capital gains issue other than that I think Apple's great place to be we're not buying right now board ethical and five let's talk about the markets were moving higher today slightly on the Dow com.
Well good markets go -- us to scenario is assuming we get some -- -- deal dogma.
Is the market poised to move higher and and that's true you believe that this market is actually pretty cheaply priced right now.
Yeah I think on fundamental basis there are lots of sectors of the market that are really really chief.
If we get a deal in the fiscal cliff which I think will most likely occur in the next couple of days -- week.
I think the markets poised to go much higher but again -- go higher on low volume which is a little bit tricky.
Yeah -- -- sectors in particular do you like.
Love technology love energy particularly domestic energy love industrials I think that all those sectors of poised to do really well.
I think 2013 will be a pivotal year.
Lot of things can happen in 2013.
If any one or two of them are good it's gonna set the market up for a very strong here.
He also saying -- notes -- that say USA the housing and employment bola improve decision as credit becomes available that's a big.
If and when it becomes available it's still pretty tight buying some very Leary right now to lend money on things.
They are very -- to lend money and they've basically been waiting for interest rates to go up.
The Fed has signaled that interest rates on going up for a year maybe two years maybe longer so now the banks really have to come to grips with the fact.
That they're not going to be able to earn any return unless they get back the lending.
I think that happens in 2013.
Talking of the banks led generally moving higher today do you like the financial sector.
I like parts of that I like some of those super regionals like like PNC -- had -- been fairly well today US bank.
We like those who love JPMorgan and we like Goldman -- It very good -- all of info and thank you so much -- -- of -- -- Philadelphia and I found that people appreciate it thank you.
Apple didn't another day another officer -- -- up.
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