'Time To Buy' Apple Stock, Says Expert: 'Out Of All Mag 7 Stocks, After Maybe Tesla, Apple Is Currently The Most Hated'
Portfolio Pulse from Rounak Jain
Eric Jackson from EMJ Capital suggests buying Apple Inc. (AAPL) stock, citing excessive pessimism among investors despite challenges like declining iPhone sales in China and a DOJ antitrust lawsuit. Apple's stock has fallen 14.27% since its all-time high in December. Jackson believes the upcoming June WWDC event could be a catalyst for the stock. Apple also faces regulatory pressures, including a $1.95 billion fine in a Spotify antitrust case, and has been forced to adopt USB Type-C and RCS due to regulatory decisions.
March 27, 2024 | 11:43 am
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Apple Inc. is recommended as a buy by Eric Jackson despite facing declining iPhone sales in China, a DOJ antitrust lawsuit, and regulatory pressures including a $1.95 billion Spotify fine. The stock has declined 14.27% since its peak but is seen as having upside potential.
The recommendation to buy Apple stock comes amidst a period of significant pessimism due to legal and regulatory challenges, as well as declining sales in a key market. However, the belief in the stock's potential upside is based on the anticipation of the June WWDC event acting as a positive catalyst, along with the view that the current negativity is overblown. The recent decline in stock price may present a buying opportunity for investors who believe in the company's long-term value.
CONFIDENCE 80
IMPORTANCE 90
RELEVANCE 100