Brian Acker, CA Apple Inc AAPL-Q PAST TOP PICK Jun 26, 2018

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.

He sold a covered call and brought a few dollars in. This isn't doing too much. Got it back today basically for nothing. Wrote another call expiring in 1.5 weeks.

Is -6% the past year and -19.7% this year, and has been trading sideways as the rest of tech has been roaring. The company last gave tepid guidance because of Trump (25% tariff on iPhones), and gave an adverse ruling against their app stores. The stock is out of favour, uncertain, but he will hold on. Past downturns have turned out to be buy opportunities. Trades at 28x PE, down from 35.5% at its peak last July. Their recurring service revenue now amounts to 25% of overall, and growing faster than all other businesses. AAPL has bottomed several times in recent years, bottoming at 25x PE, the last time in early April after tariffs, then quickly recovered. During the 2022 bear market, the PE plunged to 20x PE, then rebounded strongly. Since it bottomed at the start of 2023, shares rallied 93% of the time in the next 3 years. Meanwhile, the earnings growth is 14% projected this year, while the S&P is projected at only 9.4%. So, Apple deserves a premium, now trading at 28x PE vs. the S&P's 23x. Apple PEG ratio is under 2 while the S&P is 2.5, so if Apple had that PEG ratio, AAPL should sell at 35x PE and $250. Therefore, buy Apple at $180, too cheap to ignore, or 25x PE, but if it shares off the negativity, this should trade at 35x PE.

They're in the dog house because of Trump's tariffs, and they won't get out of it until they make iPhones in the US. Apple can still revive itself by making more and better AI products. This remains an own it, don't trade it stock.

Is a successful online retailer, with sales more than doubling between 2019-2021, thanks to Covid, then declined in 2023, but recovered in 2024. Don't count out Apple. Lang says the stock has recently broken out from its recent price range on higher volumes. The stock is below its 200-day moving average, but closing the gap. Lang says that when Apple moves higher, it tends to move higher for a long time, such as late 2024. The MACD line has shot higher to make a bullish crossover. Though the Chakyin Money Flow has gotten weaker, but Lang expects this to turn around slowly. Lang targets $225-250 by year's end. Yes, it's a contrarian view, but he believes in Apple and hold his shares.