{"id":138803,"date":"2021-09-14T22:50:38","date_gmt":"2021-09-14T22:50:38","guid":{"rendered":"https:\/\/precoinnews.com\/?p=138803"},"modified":"2021-09-14T22:50:38","modified_gmt":"2021-09-14T22:50:38","slug":"apple-announces-new-products-experts-discuss-what-it-means-for-the-stock","status":"publish","type":"post","link":"https:\/\/precoinnews.com\/business\/apple-announces-new-products-experts-discuss-what-it-means-for-the-stock\/","title":{"rendered":"Apple announces new products \u2014 Experts discuss what it means for the stock"},"content":{"rendered":"

Apple unveiled the latest smartphone model, the iPhone 13, as well as a new watch and iPad on Tuesday.<\/p>\n

Here are five experts on what the new product releases could mean for Apple stock.<\/p>\n

Delano Saporu, founder of New Street Advisors, said he is adding to his position in the name.<\/p>\n

"It's more just adding on any near-term weakness … We had the Epic ruling [last] week and we saw a little bit of a drawback in the share price, and I think investors that are kind of long-term bullish on a company like Apple should be adding on any near-term weakness … The stock has been rather sleepy for the better part of a year and now investors are starting to bid up. I think one of the reasons why, if you look at it on a trailing 12-month basis, price to earnings are about 29 times, which is lower than most of the FAANG names. I think there's room for multiple expansion."<\/p>\n

Quint Tatro, president of Joule Financial, takes a contrarian view on the stock.<\/p>\n

"It's had that characteristic of late. When the market is weak, I think people flock to Apple. It's got a consistent cash flow, it's a steady name, but I have to take the other side of the trade here. I know it's not a popular view, but I'm not a fan of Apple at these levels … Forward multiple of 35 is tough to justify when if they hit their numbers those numbers are growing at 10%. Meanwhile, the company has levered up its balance sheet. Now it's a proxy for the market \u2014 6.2% of the overall S&P. So if people are continuing to be bullish on the market and add passive index funds, it will continue to participate, but I just think there's too many other opportunities out there that are of value."<\/p>\n

Stephanie Link, chief investment strategist at Hightower, sees the stock as a stable performer.<\/p>\n

"I have a market weight. It's 6% of my portfolio. So I want to go over my skis given the concerns that I have, and, oh by the way, 76% of the sellside likes this thing. Everybody owns this. I don't know what the incremental buyer is … I just don't think you're going to see a rush to see buying in the name. Now, if it were to pull back substantially, I definitely would take a look again. I've been overweight the name, but right now I think it's prudent to be market weight."<\/p>\n

Tom Forte, senior research analyst at D.A. Davidson, said the new iPhone's secret weapon is that it's 5G-enabled.<\/p>\n

"I think the good news for Apple for this year is similar to last year. The real star of the show is the 5G network. So I don't think they need to have anything spectacular in the iPhone 13. It's getting consumers a 5G device as they slowly but surely build out the 5G network. I think it will be very strong sales for iPhone for that reason, which is good news for Apple and its stock."<\/p>\n

Krish Sankar, senior research analyst at Cowen, said Apple should be able to weather materials shortages and supply chain squeezes.<\/p>\n

"Apple probably has a better position than most other device makers to weather the [supply chain] storm, so largely I think at this point it's probably going to be inline pricing similar to last year's iPhone."<\/p>\n

Disclaimer<\/p>\n

Source: Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Apple unveiled the latest smartphone model, the<\/p>\n","protected":false},"author":3,"featured_media":138802,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[23051],"tags":[],"yoast_head":"\nApple announces new products \u2014 Experts discuss what it means for the stock - Pre Coin News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/precoinnews.com\/business\/apple-announces-new-products-experts-discuss-what-it-means-for-the-stock\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Apple announces new products \u2014 Experts discuss what it means for the stock - Pre Coin News\" \/>\n<meta property=\"og:description\" content=\"Apple unveiled the latest smartphone model, the\" \/>\n<meta property=\"og:url\" content=\"https:\/\/precoinnews.com\/business\/apple-announces-new-products-experts-discuss-what-it-means-for-the-stock\/\" \/>\n<meta property=\"og:site_name\" content=\"Pre Coin News\" \/>\n<meta property=\"article:published_time\" content=\"2021-09-14T22:50:38+00:00\" \/>\n<meta name=\"author\" content=\"mediabest\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/precoinnews.com\/wp-content\/uploads\/2021\/09\/Apple-announces-new-products-\u2014-Experts-discuss-what-it-means-for-the-stock.jpg\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"mediabest\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/precoinnews.com\/business\/apple-announces-new-products-experts-discuss-what-it-means-for-the-stock\/\",\"url\":\"https:\/\/precoinnews.com\/business\/apple-announces-new-products-experts-discuss-what-it-means-for-the-stock\/\",\"name\":\"Apple announces new products \u2014 Experts discuss what it means for the stock - 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