This household name keeps delivering even when faced with major headwinds such as economic headwinds in China and Europe leading to lower than expected sales of its new iPhone 14 but even with sales revised lower Apple keeps reporting record quarters as its product mix goes from strength to strength – each time they have an Apple Event its trending news for days as investors/customers consider their next phone, device etc.
The latest iPhone 14 launch hasn’t seen any recovery for the stock but it has been during a tough time for stocks and in particular tech, this is certainly a quality business that we feel should be considered into current weakness – we liked the stock back in July when it was ~$US158 and haven’t changed this stance as the stock continues to dance to the markets sentiment towards bond yields & growth stocks.
- We continue to like Apple, a rare tech stock that could challenge new highs into 2023, we feel it’s a great company to accumulate into weakness.
MM remains long and bullish Apple Inc
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