Tag AAPL

We’re downgrading AAPL stock to a sell after Q2 2023 earnings results. iPhone sales were stronger than expected, but click for our doubts about that market...

Managers with relatively low exposure to tech heavyweights might be kicking themselves right about now...

Almost everyone knows Steve Jobs' uncanny vision, relentless drive and technological wizardry hatched the iPhone, a breakthrough that continues to reshape culture 16 years after the late Apple co-founder introduced the device to the world. It was the BlackBerry, a device so addictive that it became known as the “CrackBerry” among tech nerds and power brokers hunched over a tiny keyboard that was best operated with both thumbs clickety-clacking. Now the BlackBerry is “that phone people had before they bought an iPhone," a relic so irrelevant that the Canadian company that made it is now valued at $3 billion — down from $85 billion at its 2008 peak when it still controlled nearly half of the smartphone market...

An innovator and visionary, Steve Jobs' accomplishments can be held along with those of Microsoft’s Bill Gates, Google’s Larry Page, and Sergey Brin...

I encourage you to consider the results summarized in conjunction with both the investment thesis tracker as well as the discussion of the individual companies in this letter...

Apple (NASDAQ: AAPL) has become somewhat famous for its massive share repurchases, spending $85 billion over the past year buying back its stock. Apple does it to lower the number of its outstanding shares and increase the value of its stock, benefiting shareholders. You won't hear an argument for Apple being a bad business...

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