Still Waiting to Buy Apple (AAPL)? Why?

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Price: $433.26 -0.3%

Overall Analyst Rating:
BUY (= Flat)

Dividend Yield: 2.7%
Revenue Growth %: +11.2%

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Has there never been a better time to buy Apple? What about selling?

The question rings in the minds of millions of investors and traders heading in to the end of the calendar year. Apple shares are down over 20 percent from all-time highs hit in September, with its market cap approaching the $500 billion mark once again, this time from the opposite direction.

So, what's changed? That's it, nothing about Apple (Nasdaq: AAPL) has changed. The company is finally meeting demand with its key iPhone 5 product, iPad mini and iPad 4 sales are robust, and it's revamped iTunes portal is keeping customers tuned in and buying more.

It appears as though many are selling into the end of the year to lock in capital gains and lower taxes on those gains as the issue behind some $600 billion in new taxes and lowered government spending starts to kick in.

People could go over valuation, earnings, growth trajectories, and the whole lot.

But, common sense tells smart investors to buy when others are selling. Even if Apple goes down another few points (or to our bear case at $525), Apple is still Apple. And profits are still profits.

Most forget that Apple still has a long way to go: it's not the number one smartphone vendor, its not the number one music vendor, it's not the number one computer maker, and it's not the number one stock in most portfolios...

... yet.

Apple is down 3 percent on the session to $530.71.

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