From Morningstar: 2024-04-15 07:51:00

Apple’s stock has dropped 9% this year, while Tesla’s stock has fallen by 30%, both facing slower growth prospects. The Magnificent Seven tech stocks, including Apple and Tesla, are no longer moving together, with companies like Nvidia and Microsoft taking the lead in the market.

Apple and Tesla’s underperformance in Q1 has affected the overall market index, with both companies accounting for losses. Meanwhile, other tech giants like Nvidia and Microsoft continue to soar despite inflation threats.

Apple stock is down due to slowing growth, competition in China, regulatory challenges, and a lack of AI announcements. Analysts predict a potential rally with a major AI announcement or iPhone growth.

Tesla stock has declined due to slowing delivery growth, negative quarterly numbers, and global EV market concerns. Despite challenges, analysts see Tesla as fairly valued with high uncertainty, looking for a focus on profits over volume growth.

Morningstar analysts see Apple stock as fairly valued, with the potential for a rally based on major announcements or iPhone growth. Tesla faces challenges with slowing delivery growth, negative quarterly numbers, and EV market concerns but is viewed as fairly valued with high uncertainty.



Read more at Morningstar: Magnificent No More? Apple and Tesla Stocks Weigh…