Famous Investor Suggests That Apple (AAPL) Is Not a Buy
Stephanie Link, a frequent guest on CNBC, recently suggested during an appearance on the network that investors should not buy Apple Inc. (NASDAQ:AAPL) stock.
Link is the Chief Investment Strategist at Hightower Advisors.
Link: Why Would You Pay So Much for Apple Inc. (NASDAQ:AAPL)?
Referring to Apple Inc. (NASDAQ:AAPL), Link rhetorically asked, "Why would you pay 28 times (profits) for mid-single-digit revenue growth?"
She added that the tech giant's revenue from its iPhones is "actually declining year-over-year," while China accounts for 20% of its iPhone sales.
Contending that Apple "has so many" challenges, the longtime investor suggested that "so many other" tech names are more attractive than AAPL stock at this point.
Wapner Pushes Back on Link
"Let's not act like this company is dead in the water," said CNBC anchor Scott Wapner. "They still have the most powerful installed base in the history of consumer products," he noted.
Adding that the company also has a large services business, Wapner stated that it's "a bit far fetched" to believe that AAPL's iPhone sales won't climb going forward if it doesn't incorporate strong AI technology into the device.
While we acknowledge the potential of AAPL as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than AAPL and that has 100x upside potential, check out our report about this cheapest AI stock.
READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires.
Disclosure: None. This article is originally published at Insider Monkey.
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