Apple shares are in the crosshairs.
Stacey Gilbert, market strategist at Susquehanna, says market appetite could keep Apple under pressure for longer.
“What we have going on right now in the marketplace is what I’d call a buyers’ strike, so it doesn’t really matter if it’s a name that’s worth buying that you want in your portfolio for the next two years or a name that’s still overvalued here. The buyers just aren’t there,” Gilbert said on “Trading Nation” on Thursday.
Even so, to the long-term investor, Apple’s sell-off could present a discount opportunity.
“If I were looking to something like Apple, if you like the stock, if you like the valuation, I do think that this is a name that in your portfolio two years out, you’re probably happy you own it,” said Gilbert.