Apple: Caution Ahead Of Third Quarter Earnings

I maintain my bearish stance on Apple, citing high valuation multiples, lagging AI innovation, and tariff-related uncertainties as key risks. Despite recent solid financials, Apple's growth remains low-single digit, which doesn't justify its premium valuation compared to faster-growing peers. Apple's capital expenditures are lagging major tech competitors, raising concerns about its ability to keep up in innovation and infrastructure.