In the video below, Fool analysts Jeremy Phillips and Austin Smith talk about Apple (NASDAQ:AAPL) and where its stock price might be headed over the next nine months.
Austin says he gathered all his numbers on Apple, and he came up with a big question mark. A common mistake investors make is that they find comfort in the precise estimates that Wall Street deals in. Instead, investors should be seeking out great companies that make them rich over the long run, he says.
No one 10 years ago could have told you where Berkshire Hathaway or Coca Cola would be trading today, but they could tell you that they were, and still are, great companies, Austin says.
So, when should price matter to investors? Austin says investors should not have a penny in a stock that they cannot leave there for at least three to five years. For him, that's the minimum time an investor should be looking to let a stock investment work.
Austin Smith owns shares of Apple. Jeremy Phillips owns shares of Apple. The Motley Fool recommends Apple. The Motley Fool owns shares of Apple. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.