Apple's head of iPhone and Apple Watch design is reportedly leaving the company.
Apple (AAPL) is one of the "Magnificent Seven" stocks — a top performer in 2023 with shares up 55% year-to-date — but Barclays Senior Analyst Tim Long is staying on the sidelines. Speaking with Yahoo Finance's Seana Smith at the Barclays Global Technology Conference, Long said he 'struggles' with Apple's multiple and valuation. "Apple has basically lowered guidance four quarters in a row...the stock doesn't operate in line with fundamentals," Long added. Long also pointed to sluggish iPhone 15 sales while warning of "another year of weakness on the hardware side" if macroeconomic conditions remain challenged. Click here to watch the full interview on the Yahoo Finance YouTube page or you can watch this full episode of Yahoo Finance Live here.
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