CNBC's "Fast Money" Apple’s Rally Keeps Running… And Trump’s Crypto Plans 12/12/24
13 snips
Dec 12, 2024 Apple's stock soars to new heights, defying falling iPhone sales with a market cap nearing $4 trillion. Experts delve into the tech titan's performance alongside competitors and the rising medical devices sector. Meanwhile, President-elect Trump weighs in on cryptocurrency, hinting at a future with Bitcoin nearing $100K and potential regulatory shifts. The dynamics of corporate attitudes towards Bitcoin and the evolving housing market also make waves, setting a thrilling stage for investors in uncertain times.
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Apple's Rally
- Apple's stock price continues rising despite lackluster iPhone sales and unimpressive AI offerings.
- This momentum-driven market behavior suggests Apple has become a defensive play.
ETF Inclusion and Valuation
- Apple's inclusion in numerous ETFs fuels its price growth, driven by money flow rather than fundamentals.
- However, its high valuation and dependence on stagnant iPhone sales raise concerns about future growth.
Traditional Drivers and AI
- Apple's traditional growth drivers, like cash position, buybacks, and dividends, are now insignificant.
- The services and AI segments, meant to justify the current multiple, lack substance, causing concern despite the stock rally.