AAPL - 3 Magnificent Stocks to Buy on Market Weakness
2023-08-31 09:46:00 ET
Sometimes, it's easy to fall into the trap of thinking that the stock market is a voting machine for an election of a company's progress. While that's true in the short term, it doesn't tell the whole picture. Valuations also matter. Sometimes, valuations get ahead of company progress, causing stock prices to eventually correct despite relatively good news from companies. That's what happened recently with Honeywell (NASDAQ: HON) , Rockwell Automation (NYSE: ROK) , and Apple (NASDAQ: AAPL) . There wasn't a lot wrong with their recent earnings report, but all three stocks are down over the last month. Here's why.
Honeywell's stock is down over the last month, along with the other two companies featured. That might seem odd because Honeywell raised the midpoint of its full-year sales and earnings guidance on account of raising the low end of their ranges. Moreover, it marked the continuance of raising full-year guidance on every possible earnings call since the start of 2021.
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3 Magnificent Stocks to Buy on Market Weakness