Apple faces a litany of challenges that have weighed on Apple stock, including missing the GenAI revolution, an antitrust lawsuit by the U.S. Department of Justice, CCP-controlled China, and more. Still, after being knocked down below $170, some investors might be wondering if AAPL is a buy right now.
Patrick Seitz for Investor’s Business Daily:
Wall Street analysts said the [DOJ’s antitrust] case will be a headline risk for Apple, which has a good chance of beat the rap. But the lawsuit could take three or four years to wind its way through the legal system.
Other issues weighing on Apple stock include weak iPhone sales in China and legal problems over its App Store policies in Europe. Investors also are concerned about Apple lacking a strategy for artificial intelligence. With the iPhone business maturing, investors are wondering what the next big growth driver will be for Apple stock.
For the current quarter, Apple guided to sales of about $90 billion, down 5% from the same period last year. Analysts had been modeling $95.6 billion for the fiscal second quarter.
Is Apple stock a buy right now? No, Apple stock is not a buy right now.
It needs to form a new base in the right market conditions before setting a potential buy point.
Support MacDailyNews at no extra cost to you by using this link to shop at Amazon.
MacDailyNews Note: Apple is scheduled to report second fiscal quarter results and, with history as our guide, dividend and buyback plan updates, right after market close on Thursday, May 2, 2024.
Please help support MacDailyNews. Click or tap here to support our independent tech blog. Thank you!
Support MacDailyNews at no extra cost to you by using this link to shop at Amazon.
You have to be an idiot to buy AAPL now. Only when Tim Cook is gone (hopefully fired), is AAPL going to go higher.
So your strategy is to wait for the stock to go higher and then buy? When you could have bought it when it was lower (like now) and profited from that rise? OK for you, then. I have a more radical philosophy: Buy low, sell high.
Yes, that is the usual advice. The question is, is the current price the ‘new’ high for the near future.
It’s the same price as two years ago. Nothing tells me it’s a great buying opportunity now. Best case it vegetates sub-$200 for another year until Apple shows signs of its old self (if that’s ever possible again). More likely is that Apple will persist as a victim of its own success, a result of the way premature death of Steve Jobs. It may already be the Procter & Gamble of consumer tech.