It’s no secret that Apple has had a rocky start to 2024. A slew of cautious analyst commentary, regulatory hurdles, and soft iPhone sales in China have knocked down the stock and investor sentiment with it. However, two new research reports show why investors should stick out the pain — and “own, not trade” the Big Tech name. Evercore ISI argues that Apple’s year-to-date losses are “overdone,” and shares have several tailwinds ahead. Bank of America says the iPhone continues to grab share in the broader smartphone market despite China sluggishness. It’s not just recent data on China’s troubles, European regulators earlier this month hit Apple with a big antitrust fine over its music streaming efforts. Shares have tumbled around 10% in 2024 versus the S & P 500′ s more than 8% gain over the same period. The stock has lagged even more compared to other mega cap names. Club holdings like Nvidia and Meta Platforms have surged 82% and roughly 40%, respectively, since the start of the year. Even Alphabet — beset with artificial intelligence missteps — has been flat in 2024. The Club’s other two Super Six stocks — Amazon and Microsoft — have gained 15% and 10%, respectively, year to date. The Club did make a small sale of Apple on Jan. 2 to right-size the position , which grew too large for our portfolio diversification goals. The trade was part of an eight-stock trim of 2023 tech winners. AAPL YTD mountain Apple (AAPL) year-to-date performance Jim Cramer on Tuesday acknowledged Apple’s recent woes but encouraged investors to have “patience, patience, patience,” with the stock. The tech name is “one of the greatest performers of all times,” he said back on March 4. In fact, he said at the time, shares could tumble to $160 apiece — which would be 7.5% lower than Tuesday’s opening price — and he still wouldn’t sell. Once concerns surrounding the company’s China market subside and its AI-integrated iPhones finally arrive, Jim sees more upside for shares…
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