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. For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live
The Oracle of Omaha has put more than $286 billion of his company's invested assets to work in a half-dozen brand-name businesses.
Apple is allocating product development resources for iPad to Vietnam, Nikkei reported on Friday, citing sources briefed on the matter. Apple is working with China's BYD, a key iPad assembler, to move new product introduction (NPI) resources to Vietnam, the report said, adding that this is the first time the company has shifted NPI resources to Vietnam for such a core device.