This is why these guys get paid the big bucks.
Ben Reitzes at Barclays writes about Apple’s recent stock volatility and notes:
Shares Usually Gain into iPhone Cycles: In this report, we demonstrate how shares have performed into each new iPhone ship date. On average, shares have gained 31% in the 6 mos. preceding the initial ship date of major iPhone releases. Since we believe that the iPhone 5 cycle will be particularly special – and will start in the September timeframe – it is not time to give up on Apple’s stock right now in our opinion. In fact, it seems the volatility represents a buying opportunity.
And here’s the chart to prove it: