Apple unveiled the latest smartphone model, the iPhone 13, on Tuesday. Here are five experts on what new product releases could mean for Apple stock.
Apple unveiled the latest smartphone model, the iPhone 13, as well as a new watch and iPad on Tuesday. Delano Saporu, founder of New Street Advisors, said he is adding to his position in the name. «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.» Quint Tatro, president of Joule Financial, takes a contrarian view on the stock. «It’s had that characteristic of late.
