Stephanie Link Is Buying Apple Stock At 'Bargain' Prices: Here's What You Might Be Missing
Portfolio Pulse from Adam Eckert
Stephanie Link of Hightower Advisors has increased her stake in Apple Inc (AAPL), citing the stock's current valuation as a bargain. Despite a 13% drop from its highs and weak iPhone sales in China, Link believes Apple will outperform this quarter due to expected better-than-anticipated April quarter results, strong services business growth, and robust margins. She anticipates a new buyback announcement in the upcoming second-quarter results, which, along with a focus on AI at the Worldwide Developers Conference in June, could further support the stock. Apple's stock is trading at a lower P/E ratio compared to its historical average, making it an attractive investment according to Link.
March 12, 2024 | 7:38 pm
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POSITIVE IMPACT
Stephanie Link has increased her investment in Apple, highlighting its bargain valuation and potential for Q2 outperformance. She expects strong services growth and a new buyback announcement to positively impact the stock.
The positive outlook from a prominent investor like Stephanie Link, combined with expectations of a strong services sector performance and a potential new buyback announcement, could generate investor optimism. This, along with the stock's current valuation being seen as a bargain, suggests a potential short-term uplift in Apple's stock price.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100