Apple: Still Dead Money Until At Least FY26
- Apple has now fallen over $25 since the dead money call over 7 months ago.
- The tech giant continues to see key products pushed out with the 2nd-generation AR/VR models potentially delayed until 1H'25.
- The stock is still expensive at nearly 20x FY26 EPS targets.
About 7 months ago, our view was that Apple () was dead money for at least 4 years. The stock was at $166 when the article was published and now trades at $140, so far livinginvestment thesis