Andrew McCreath Apple Inc AAPL-Q PAST TOP PICK Jun 21, 2011

Supply chains and labour costs. Moving from China to India will still not appease the president. It would take years, not months. iPhone prices would increase substantially. More like a consumer stock, and not introducing anything new to the market. Money from services starting to ebb, margins declining. Fallen 30% from highs last year.

Not a Mag 7 that's in favour right now.

Sentiment is so poor on the stock right now. But he's looking forward. Excited by unleashing AI into its products, when we'll have agents like Siri doing a lot of things for us. Closed system with 1.1B users, and it'll sell them more products and services over time. One of the best businesses in the world, generates lots of FCF. Valuation is as attractive as it's been in a long time. Yield is 0.51%.

Doesn't mind nibbling here around $200. Lots of moving parts, and no one knows exactly how they'll play out. It is a laggard. Support is around $190-200. If you buy here, and it goes 5-10% lower, he'd look to exit. But if it pushes higher, and you're up 10%, he doesn't mind adding more.

Monday they host a Worldwide Developer's Conference and some have bid on the stock today based on that, up 1.64%. However, Trump wants Apple to build iPhones in the US, which is a serious problem and make Apple hard to own. However, maybe Apple can catch a break now that Elon Musk is drawing so much fire.

They held their developer's conference today, with no big news. As long as you didn't hear "switch" from that conference, then hold onto Apple. This has been dowgraded, but he thinks that downside will be limited. He's long been a believer in this name. The company has been in a dry spell, offering no new products, but it can always buy another company. Also, Apple could lose the Google or Epic case, but likely not both. Also, Apple never stands still; the CEO has been busy dealing with Trump (i.e. shifting production from China to India).

It is a great brand but does not have enough of a margin of safety for him since it trades near 30X forward earnings. Most earnings come from the sale of hardware and there is not a lot of margin in this. Also tariffs could have a big effect. It has other parts as well.

There is a lot of noise around it but it is one of the largest companies in the world, although not one of the leaders. It is one of the worst in the AI space. The fundamentals should do well but it might take a while for it to reach its 15% upside. She gives it a 3 out of 10 for valuation.  It is a money making machine with most of the bad news priced in. She is starting to see some sells. If owned you could trim your position.

You can't bet against their eco-system and their ability to buy back shares, but now there are many tech competitors to buy.

Compared to tech peers, Apple has been stuck for so long. It's depending on this super upgrade cycle which isn't happening, but it eventually happen but not in the next few months. Trades at 26x forward PE. Step in when it shows an uptrend.