Wall Street criticized that Apple, which lagged behind AI, is no longer a growth stock but a value stock.
According to Bloomberg News on the 16th (local time), Phil Blancato, CEO of Ladenburg Talman Asset Management, said, “Apple has become a value stock similar to Coca-Cola.”
Berkshire Hathaway Chairman Warren Buffett, who has preferred Apple shares along with Coca-Cola, also recently reduced his stake in Apple.
If you are an investor who expects a market-rate return, Apple can be a good stock. However, investors who are paying attention to the market that is expected to grow significantly are turning to AI.
Bloomberg said, “Apple executives say they have big plans for AI, but it’s still hard to figure out what will happen.”
Apple’s market capitalization fell by about 330 billion U.S. dollars as its stock price fell by 10 percent this year. Experts say Apple’s sales will only increase by 2 percent this year without much innovation.
“We are in an incredible wave of innovation,” said Mark Lehmann, CEO of JMP Securities. “In the market, Apple has a lot to prove here, but I don’t think it has shown much so far.”
JENNIFER KIM
US ASIA JOURNAL
