Investing.com - Gold, U.S. Treasuries and the Swiss Franc have long been considered safe haven investments during times of stock market volatility.
Apple shares (NASDAQ:AAPL) may have joined the exclusive club.
Bank of America/Merrill Lynch has told clients that the tech giant is a stock to own in "volatile market environments," thanks in part to its huge cash reserves.
It's not, however, the first firm to suggest as much.
Needham and Company last year said Apple's strong balance sheet and cash-generating prowess gives it the ability survive "chaotic global macro environments."
BOAML said Apple is an example of the kind of large-cap stock the firm prefers during volatile markets, but it did not mention any other company by name.
Apple stock gained about 30% in 2017, twice that of the S&P 500, but has slumped a bit since issuing a disappointing revenue forecast two weeks ago.
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