Apple: Still Early For The Holy Grail
- Apple continues working on turning the Apple Watch into a medical device.
- The tech giant has made progress on a glucose monitoring system with the signs the concept works, but the company needs to scale the product into a wearable form factor.
- The stock is already priced for a Holy Grail new product, while investors should buy the stock when a new medical device is a bonus for a cheap stock.
- Apple shouldn't already trade at 25x FY23 EPS targets.