Apple Stock Is Down 23% From Its All-Time High. Here's Why I'm Still Not Buying Shares.

Apple (NASDAQ: AAPL), the world's largest company, fell alongside most other stocks during this month's market downturn. It's around 23% off its all-time high, which is likely causing many investors to question whether now is a good time to buy the stock.Although Apple is down significantly, I don't think today's prices are a buying opportunity. Apple is still rather expensive compared to some other big tech stocks, and it would need to tumble further before I'd consider taking a position.Apple is one of the most recognizable brands on earth due to its strong foothold in the smartphone sector, a device the vast majority of Americans own. However, that market is saturated and isn't growing like it used to. Furthermore, Apple hasn't released an innovative feature on its iPhones in a long time, so consumers are not upgrading their smartphones as often.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool