Saxo Group Videos

#SaxoStrats: Why I'm finally selling Apple

Saxo's Peter Garnry has been bullish about Apple for four years. Now, in a surprise move, he's selling the stock after shares have fallen 22% since their peak.

It follows news that the iPhone 6s is not selling well while sales of the Apple Watch have also disappointed. The drivers include a stronger US dollar and the slowdown in China. The Wall Street Journal is reporting layoffs at major Chinese suppliers.

In his #SaxoStrat, Garnry discusses why the company's valuation risk is increasing. He warns that if revenue growth moves to zero then earnings growth may also hit zero.

Sell: At market

Trailing stop: USD 107.55 (steps of USD 0.48)

And you can read more from Peter here:

https://www.tradingfloor.com/posts/saxostrats-apple-to-fall-from-its-tree-6830863

02:17 minutes
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