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.
What caught the eye was Apple’s quarterly revenue decline due to demand issues in China and slowing iPhone sales, although plenty of the earnings numbers remain impressive – we covered AAPL in more detail at the time. This remains a quality business with a bank balance the envy of most countries, but we have to consider if, from a growth perspective, it is maturing and whether an alternative such as NVDA will perform better over the coming years.
- After 5 fruitful years, we are up over 300% on our AAPL position, but we can see it being replaced in the second half of 2024– MM is long AAPL in our International Companies Portfolio.
MM is neutral/bullish towards AAPL
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