Warren Buffett is famous for saying, "Be fearful when others are greedy and greedy when others are fearful." On an individual stock basis, Apple (NASDAQ:AAPL) trading below $500 for the first time in a year suggests it's a good time to get greedy. While the stock briefly dipped below the magic level during yesterday's session, the price action thus far today makes it look like a close below $500 is becoming an inevitability. The question you must now ask is whether the stock is a buy on its first day below $500, or if it has room to fall. As bullish as I have been on the stock at these levels for some time, a wait-and-see approach seems more sensible for now.
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