Apple Still Dominates
Tim Cook has only six weeks left before stepping down as Apple’s CEO, and the company is in great shape! He is handing over to John Ternus a rock-solid cash machine that investors still love. Just yesterday, the stock reached a new intraday all-time high, trading above $320. That’s a gain of around 120% over the past five years and more than a ten-bagger over the last decade. Really impressive!
The company recently announced price hikes for pretty much all of its products due to higher storage hardware costs. This will probably weigh on demand to some extent, but investors seem to be focusing on the bigger revenues and cash flows these higher prices could bring.
For me, Apple remains one of the most robust companies out there, with an unrivalled ecosystem of premium hardware and software. That said, the stock isn’t cheap at current levels and is only a hold for me. Berkshire Hathaway has even realized a significant portion of its Apple profits over the past several quarters. If you’re sitting on substantial gains as well, taking some profits wouldn’t be the worst thing to consider either.
