NEW YORK (TheStreet) -- The frenzy and scrutiny surrounding Apple
highlights the challenging psychology of owning the iPhone maker's stock, according to investor Vitaliy Katsenelson, chief investment officer of Investment Management Associates.
Apple shares have fallen 13% this year and are down double that amount over six months, as investors have started to question the company's growth potential. Once seemingly unstoppable, Apple saw its fourth-quarter earnings miss consensus estimates and the company took another hit last month when its first-quarter revenue failed to meet Wall Street's expectations.
In a column on the Institutional Investor Web site, however, Katsenelson says that understanding Apple requires an analysis of fundamentals and psychology.
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