Apple Inc. has the slowest revenue growth among Big Tech stocks and is facing tariff-related risks going into Donald Trump’s second term. None of that is holding back the stock.
Subrat Patnaik and Ryan VlastelicaDan Morgan of Synovus securities, discusses Apple reports Q4 eps $1.64.
“It is definitely a head scratcher that the stock is doing so well with China being in the state it’s in, and with the geopolitical face-off we’re entering,” said Andrew Choi, portfolio manager at Parnassus Investments. “It’s surprising the stock hasn’t been more volatile given these are existential issues involving a material part of its business.”
“The hoped-for iPhone 16 replacement cycle boost has not materialized, with expectations pushed back to the iPhone 17 now,” said Richard Clode, a portfolio manager for Janus Henderson Investors’ Global Technology Leaders Fund. “The market, having skewed too bearish earlier this year, is probably a bit too optimistic here.”
“Apple is going to be how AI is brought to millions of consumers,” Parnassus Investments’ Choi said. “It is so advantaged by owning the chokepoint between AI and the consumer.” “It is expensive, and I don’t see how you can argue that it isn’t, unless you really believe a supercycle in AI iPhones is going to really bump up revenue and earnings growth over the coming years,” Halter said. “Really, what is going to drive the stock higher from here?”
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