--> YouTube-Generated Transcript <-- 0:00 · Let's go check the markets at 12:00 0:02 · noon. In the east, it is green across 0:03 · the board. The NASDAQ is the big winner 0:06 · today. Of course, Apple is playing a big 0:08 · role in that. A new record high. It is 0:11 · nearing $4 trillion in market cap. Take 0:13 · a look at that. 11 bucks to the upside 0:16 · almost 5%. 0:19 · It needs to finish the day above 25902 0:22 · for a record closing high. I don't know 0:25 · if this has been a a stealth move or 0:28 · whatever you want to call it, but this 0:30 · stock seems to be back as word is that 0:33 · the iPhone 17 is driving the strongest 0:36 · smartphone sales growth for Apple since 0:38 · the pandemic. 0:38 · All right, come on. Be a little bit more 0:40 · excited about it. You and I have been 0:41 · talking about this since the summer. And 0:44 · I think one of the things that's 0:45 · important to understand in particular 0:47 · with the Max 7 is where are people in 0:50 · terms of positioning, sentiment, and 0:52 · expectations? Yes, we are getting better 0:55 · fundamental news regarding iPhone sales. 0:58 · I saw the figure. It's up about 14% 1:01 · relative to where we were 17 versus the 1:04 · 16 on the first 10 days uptake. But I 1:06 · want everyone to just remember where was 1:08 · Apple in 2024. Apple was negative on the 1:11 · year. Think about that. Where was 1:13 · Alphabet in 2024? It was negative on the 1:16 · year. And what did that do? that carried 1:18 · forward into 2025. This kind of muted 1:23 · expectation, muted sentiment, muted 1:26 · positioning. Everyone wanted Nvidia and 1:28 · then all you need is that one spark, 1:30 · that one catalyst. And maybe it was Tim 1:34 · Cook in the Oval Office with the 1:35 · president. I'm not sure if that's what 1:37 · it was. 1:37 · Maybe you can make a checklist and just 1:39 · say at the bottom all the above, 1:40 · what whatever it might be, but it's a 1:42 · rebuilding of positioning. It's the the 1:45 · the moving of sentiment from somewhat 1:48 · muted to more bullish. And you see it 1:50 · reflected in the price action and strong 1:54 · technicals. And we're seeing it in 1:56 · Alphabet year to date. You saw it 1:58 · earlier in the year in Microsoft and now 2:00 · you're seeing it in Apple. One last 2:01 · point. I'll tell you what, Amazon's 2:03 · going to be the next one. I think it's 2:04 · going to be a 2026 story because Amazon 2:07 · is now getting a little bit of the 2:08 · disappointment because it's not really 2:10 · responding the way people thought in 2:12 · 2025. watch 2026, Amazon do what 2:16 · Alphabet, Apple, and Microsoft did this 2:18 · year. 2:19 · Let me just let me just bring in Hang on 2:20 · before you get there. I I'll come to you 2:21 · guys and I'll get everybody involved, 2:23 · but I want to bring in Steve Kovac who 2:24 · follows this company. This stock 2:26 · obviously um as we look at this stock 2:28 · hit a new high. Joe said maybe it's 2:31 · this, maybe it's that, maybe it's 2:33 · everything. Maybe it's the fact that 2:34 · just the the company has finally given 2:37 · people a reason to buy a new phone to 2:39 · upgrade after a number of years, the 2:40 · strongest as we said since the pandemic. 2:43 · Maybe it's also Tim Cook's diplomacy 2:45 · both at home and abroad that has led 2:48 · this stock on this renewed run. What do 2:50 · you think? 2:50 · Yeah, the the answer is yes, Scott. All 2:52 · of the above, just like just like he 2:54 · alluded to. And part of that is also 2:56 · we're seeing the China rebound as well. 2:58 · So that Bloomberg headline that Joe was 3:00 · referring to that they are estimating 3:02 · that sales are 14% better than they were 3:05 · a year ago. And we've been hearing that 3:06 · since the iPhone went on sale about a 3:08 · month ago. That base model of the 3:10 · iPhone, the iPhone 17 got some of those 3:13 · uh high-end features that we saw in the 3:14 · Pro models before. That's finally made 3:16 · their way down to that base model. And 3:18 · on top of that, the China subsidies are 3:20 · helping out a lot too. Plus, we just 3:22 · woke up this morning to just tons of uh 3:25 · positive chatter from the analyst 3:26 · community. You have Evercore adding them 3:28 · to their uh tactical outperform list. 3:30 · You have Loop Capital saying the 17 3:33 · lineup is blowing past all of their 3:35 · expectations. It's just showing this 3:37 · thesis that we had last year that AI 3:40 · could provide this big boost that Apple 3:42 · intelligence roll out uh to get people 3:44 · to upgrade. That didn't happen. That 3:46 · never materialized. And not just because 3:48 · Apple failed to deliver so many of those 3:50 · features. They did early on what they 3:53 · promised to do and then they kind of 3:55 · failed. What we're seeing here is new 3:57 · designs, uh, new form factor with the 3:59 · iPhone Air. All of that is getting 4:01 · people excited. I saw this on launch 4:04 · day. I was standing outside the Fifth 4:05 · Avenue Apple Store, Scott, and you could 4:07 · just tell the vibes were totally 4:08 · different. People were excited about 4:10 · this lineup. They wanted those new Pro 4:12 · phones with that great camera system and 4:14 · a new design. Uh, the Air doesn't seem 4:16 · to be selling as well here in the United 4:18 · States, but in China, those customers 4:20 · are really hot on it. So, look, we're in 4:22 · 10 days time, I'm going to be out in 4:24 · Certino. We're going to have those 4:25 · earnings. We're going to get our first 4:27 · uh real data, the first several days of 4:29 · iPhone 17 sales. And then I'll just talk 4:32 · about what uh Loop Capital was saying 4:33 · this morning. Look out for the guidance 4:35 · because that might actually surprise to 4:37 · the upside for the December quarter if 4:39 · this momentum continues. Scott. 4:41 · Yeah. Uh you mentioned Loop and they uh 4:44 · upgrade today to buy from hold the 4:46 · target to 315 as you said from 226. So 4:50 · the target had been blown through and 4:52 · now they take it uh even higher. Uh 4:55 · great job by the way guys on on the wall 4:57 · uh that was put together uh to show all 4:59 · of that positive news around Apple that 5:01 · has led to the chart looking that way. 5:04 · Uh so big props back in in the control 5:06 · room. What do you want to say? You want 5:07 · to rain on the parade totally because 5:10 · she doesn't own this because she doesn't 5:11 · own it. 5:11 · It is I feel like I'm sitting on another 5:13 · planet here. So Joe, when you said like 5:15 · okay Google Alphabet could be the next 5:17 · Apple or Amazon sorry could be the next 5:19 · Apple. What? That means we're gonna be 5:20 · up 1% on the year because that's where 5:22 · we are. We're up 1% on the year. I said 5:24 · next year, Amazon. 5:24 · Next year. What does that mean? Yeah. 5:26 · So, next year, Amazon's gonna be up 1% 5:27 · for the year. This is This is crazy to 5:30 · me that we're this excited about it. Um, 5:32 · we're up 7% in the last 52 weeks. That's 5:35 · half of what the market's returned. If 5:37 · you look through all the Mag 7, Apple 5:39 · has the worst setup, trading at 32 times 5:42 · earnings. Even after this news, analyst 5:44 · expectations are still coming in for 5:45 · like 9 to 10% earnings growth ahead. 5:48 · everything else out there has either a 5:50 · better PE or better earnings growth 5:52 · ahead of it. And I just think like I 5:53 · don't know where all this excitement is 5:55 · coming from. It's not in the huge AI 5:57 · space. It's not it's just to me I'm like 6:00 · what what are we talking about? Why are 6:01 · we getting so excited about something 6:02 · that's up 1% on the year 7 and a half% 6:05 · over the last 52 weeks. It's just like 6:07 · none of the numbers look compelling to 6:09 · me. I could look out like far past the 6:12 · mag seven and find tons of things that I 6:14 · think have a better a better earnings 6:15 · growth story, a better valuation story 6:18 · behind it. You know, I sold I sold Next 6:20 · Terra a couple weeks ago because the 6:21 · numbers were not even this compelling. 6:23 · It was 23 times earnings with 8% 6:25 · earnings growth and I sold it because I 6:27 · thought that was too expensive. So, I 6:28 · don't see how we get this pumped about 6:30 · it. Like, yeah, from a new iPhone 6:32 · perspective, the story is good, but from 6:34 · a valuation fundamental analysis 6:35 · perspective, it's boring. 6:37 · Wow. stock. The stock's up 30%. The 6:40 · stock is up 30% since the beginning of 6:43 · August. When I came on air, we talked 6:46 · about it. I said, "This is a moment that 6:47 · there's a clearing event. It's up 30% 6:50 · since the beginning of August when we 6:52 · came on air and we highlighted it. We 6:55 · said this is the moment that we believe 6:57 · Apple is about to make 30% and be done." 7:00 · No, thank you. 7:01 · Like, why should it go higher from here? 7:02 · Momentum, Josh. Respectfully, 7:05 · yeah, I know you're team Joe. You're 7:06 · team Joe. 7:08 · No, just respectfully I there are a lot 7:12 · of things that there are a lot of things 7:14 · that I just choose not to have an 7:15 · opinion on. This is technology and I 7:18 · have to tell you the thing that none of 7:20 · us are saying out loud but is like 7:23 · buzzing like wildfire among Silicon 7:26 · Valley people is that Apple has a secret 7:29 · project underway for employees only. 7:32 · It's their own in-house chatbot. Code 7:34 · name is Veritas. It is not available 7:37 · to consumers right now, but it is 7:40 · probably the early stages of what 7:43 · Apple's AI is actually going to be. 7:46 · Apple intelligence was a bust. We all 7:48 · know that. It's not that it doesn't 7:49 · work. It's that it didn't drive people 7:51 · to say, "I have to have the new iPhone." 7:55 · And the 17 is doing well. Probably 7:57 · better than myself and and most other 7:59 · people really uh had given them credit 8:01 · for. And I think that's why you're 8:03 · seeing the stock at a high. But what 8:04 · takes this higher? What gener what what 8:07 · what justifies 30 times uh earnings 8:10 · which is admittedly very high for a 8:12 · company with this level of growth? What 8:15 · what could the only thing that could do 8:16 · that is a chat GPT that Apple develops 8:20 · and releases in its in its app store as 8:24 · its own in-house AI available to 8:27 · consumers. And the buzz right now is 8:30 · that that's going that's a thing that's 8:33 · going to happen. That's not in anyone's 8:35 · numbers. So right now, OpenAI's app chat 8:39 · GPT is the best uh app for AI in the app 8:43 · store. And then we also know Apple's 8:46 · heavily reliant on on Gemini. But the 8:48 · thing is Apple employees are now using 8:51 · Veritas and they are getting 8:54 · contextual answers based on their own 8:57 · personal life, their own personal 8:59 · history in using that. And if and when 9:02 · Apple decides that they want to roll 9:04 · this thing out, um that's a whole 9:07 · different story for the stock. And 9:09 · that's the thing that I think nobody has 9:10 · in their numbers or their expectations. 9:13 · And that is the most important thing 9:15 · that could
My dad talks about ignoring a guy he knew who pounded the table to buy Apple back when Microsoft was having to inject cash to keep Apple alive.
iPhones track and record every second of your life even when it’s off ,LOL
forest gump bought some fruit
lol, I convinced my wife to buy $5,000 of Apple stock when it was $25 a share.
She sold it at $50!
Easy Come, Easy Go…:)
My Edward Jones financial advisor suggested Apple so I bought 10 shares at $400 per. A couple of years later it split 7 to 1 sothen Ihad 70 shares. We’ve been selling it and buying more ever since. Similar with Amazon. My advisor is amazing and I recommend NOT investing on your own.
I enjoy voting to not retain Bezos as the boss of his company every year.