Is Apple Still Dead Money Here?

Victor Dergunov
Investing Group Leader
(9min)

Summary

  • I maintain a hold rating on Apple due to its high valuation and limited near-term growth prospects despite solid recent earnings.
  • Apple's iPhone revenue struggles in China and wearables show softness, but potential improvements in AI and the upcoming iPhone 17 could boost growth.
  • Technically, Apple's stock is solid, with strong support at $220, but the upside may be capped at $300 without substantial growth catalysts.
  • Apple's valuation remains frothy with a TTM P/E ratio of 35, limiting the upside until more growth and higher earnings power are demonstrated.
  • This idea was discussed in more depth with members of my private investing community, The Financial Prophet. Learn More »

Top view of Macbook air notebook laptop computer with apple logo on topside. Macbook Pro 16 M1 chip laptop in grey, silver by Apple Inc. iMac on dark grey background isolated.

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The last time we discussed Apple Inc. (NASDAQ:AAPL), I had a hold rating on the stock. Since then, Apple's stock hasn't moved much, and I continue with my hold rating here. While Apple put up

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This article was written by

Victor Dergunov
51.91K Followers

Hi, I’m Victor Dergunov, MBA, and I’ve been an active investor for over 20 years. My passion for investing started early, and I’ve spent two decades honing strategies that consistently deliver results. Whether it's tech giants like Apple and Tesla or opportunities in commodities and crypto, I provide diversified insights to help you succeed. Join me, and let’s take your investing to the next level.

Analyst’s Disclosure:I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

I am long a diversified portfolio with hedges.

Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

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