CNBC let two fund managers loose on Trading Nation Monday.
Matt Maley of Miller Tabak argued that the stock is at a technical crossroads. According to Chad Morganlander of Washington Crossing Advisors it’s fundamentally doomed.
Cue the video:
My take: Chad Morganlander was not wrong when described Apple’s earnings growth as “illusionary.”
This company had a lot of cash at one point and very little debt. Currently on its balance sheet, while it’s cash neutral, that cash has been eaten up by stock buybacks that have given it this illusionary effect of earnings growth.