RE:Never chase a high flyer1st off it's no where near a high flyer.
-market cap is 5.17 b, revenue is just over 2 b plus it is growing at over 30% for the foreseeable future, so not much more than 2x sales down here with pretty good margins for retail.
-expenses have been higher due to adding inventory, inflation, supply chain and the cost of building it's new distribution center which will be finished this summer, as to these issues they have contol of the inventory and don't expect it to be an issue, inflation is dropping, supply chain is much better and improving, the new distribution center is almost finished so the cost of building is done sooner than later. the only negative I see is the small margin contraction which should level out over this year.
-the other thing is the US is now looking more and more like a soft landing, and no real recession so spending should increase thru the year as monetary policies ease off.
2nd apple has had it's misses thru the years and had big corrections, I'm sure there'll be more in the future but within 2 years they'll be using all their own chips so that should help their margins etc. I kinda like googl down here for US tech name, very recently bought it.
overall imho I think this is a great buying opportunity as the market seems very short term focused on this sell off, I added some at $45ish this morning, for me it's a great frowth story still unfolding, one of the few in Canada that isn't a roll up and has a huge runway ahea of it, minor hiccups are all a part of it, I'm a bit surprised at the extent of the sell off but I think 45 ish and possibly 43 ish could be ballpark bottoms near term as long as the market stays reasonable. great company, great future imho
cheers and gl ferret