SaxoTV
#SaxoStrats: Why I'm finally selling Apple
669 views
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: