Oracle Investment Research is pounding the table on Apple (NASDAQ: AAPL) Thursday afternoon. The firm said with retail in "panic mode" it is time to "back up the truck."

"We see retail abandoning the Apple thesis, and money flows show evidence of that (Red). However institution block trade buying is there in a large accumulation. (Green)."

Selling is overdone, analyst Laurence Balter explains.

"With valuation in the past 30 days down ~$14 billion, money flows are down ~1.56 billion. This sort of trend does not last and shows at or near capitulation levels."

The firm reiterated a Strong Buy rating and price target of $670.00



For an analyst ratings summary and ratings history on Apple click here. For more ratings news on Apple click here.

Shares of Apple are down 2 percent to $528.17.

Analyst Comments

Sales of Apple's (AAPL) iPhone 5 May See Larger than Expected Q1, Q2 Sales Drop - AnalystDecember 13, 2012 12:47 PM Piper's Munster Suggests Demand for Apple (AAPL) iPhone 5 is as Strong as EverDecember 13, 2012 12:32 PM