The market is “absolutely priced for perfection,” as Apple (AAPL) and a host of other highflying stocks have found out recently.
Fidelity Investor Editor Jim Lowell recently spoke on CNBC Asia to discuss the current bloat in market valuations, earnings season and other Wall Street headlines.
Apple and its post-earnings slump is particularly notable. Lowell points out that most businesses envy Apple’s ability to sell, both here and globally, but simply the sense that AAPL earnings hadn’t beaten by enough was all the reason Wall Street needed to flee amid otherwise good numbers.
Check out the video below for more on Apple, Qualcomm (QCOM) and how Lowell is positioning ahead of an expected interest-rate hike by the Federal Reserve: