22/01/2025 09:39

Apple (AAPL US) US$221.70

Last week, we exited our long-held position in Apple (AAPL US), taking a ~380% profit for the International Equities Portfolio – a great result but as we said at the time, all good things come to an end.

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17/01/2025 12:30

International Equities Portfolio – Amendments

MM is selling Apple & buying HCA Healthcare in the International Equities Portfolio

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17/12/2024 09:42

Apple (AAPL US) $US250.80

Apple was one of the “Magnificent Seven” which posted fresh all-time highs overnight as investors continued to buy the strength. With rates set to fall this week in the US, we could see further PE expansion pushing the stock higher as people struggle to find value in today's rich market.

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18/09/2024 09:16

Apple (AAPL US) $216.79

Bloomberg Intelligence tells us that the waiting time on the new model is 21.5 days for orders taken within 72 hours of launch which compares to 32.5 days for the iPhone 15. That highlights weaker demand, and the shares fell as a consequence. This is all very micro, and we caution against being so short-term in nature, particularly given this is such a monumental launch for Apple - their first AI-enabled iPhone, built from the ground up, according to Tim Cook, though the AI part (Apple Intelligence) is not quite ready!

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29/08/2024 09:34

Apple Inc (AAPL US) $US226.49

Apple Inc. is facing some headwinds moving forward, especially now that future sales are being questioned in China, which was previously one of its growth areas—imagine if Trump wins! Greater China, which includes mainland China, Hong Kong, and Taiwan, is Apple’s third largest region by revenue, representing 19% of Apple’s total sales during the 2023 fiscal year. Apple’s revenue in the region has declined year-over-year in six out of the seven most recent quarters, although it wasn’t as bad as many feared last quarter.

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12/06/2024 09:15

Apple (AAPL US) US$207.17

AAPL broke out of its 10-month-long trading range overnight to hit all-time highs, up 7.26% on the session after the tech giant held a developer event introducing its long-awaited new artificial intelligence features. The critical piece of new news was that the functionality would only be backwards compatible with iPhone 15 Pro, implying that this will prompt consumers to upgrade existing iPhones to take advantage of generative AI.

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06/06/2024 09:13

Apple Inc (AAPL US) $US195.87

AAPL, with a market cap of $US3.003 trillion, has been relegated to the 3rd largest company in the US, which coincides with an average quarterly in May. Apple was the first company to reach a $US1 trillion and $US2 trillion market cap, but it's slowly falling off the pace.

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03/05/2024 09:31

Apple Inc (AAPL US) $US173.03

Apple's quarterly revenue declined as it faced declining iPhone sales and anaemic demand for its products in China, but the Bloomberg headline summed up the market reception of its earnings numbers nicely, “Apple sales drop less than feared as company plots comeback”. Some of the headlines in the company's earnings were very impressive: Apple's services business delivered $23.9 billion in revenue for the March quarter, up 12.4% from a year earlier – the consensus was $23.1bn.

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06/02/2024 09:15

Apple Inc (AAPL US) $US187.68

AAPL is one of the US’s “Magnificent Seven” that hasn’t fired in 2024, with the stock actually lower year to date, having not participated in the US Tech Party. Apple shares fell last week after the company announced first-quarter earnings, which beat estimates on most key metrics, but the growth outlook was more muted than expected.

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19/01/2024 09:07

Apple Inc (AAPL US) $US189.05

Apple Inc. is an amazing business which needs no introduction; we hold it in our International Equities Portfolio, where it has performed admirably. We can see Apple “taking a rest” in 2024 after a stellar run post-Covid; we are likely to maintain a core holding in this goliath, which will be tweaked up/down into periods of strength & weakness through the year.

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