From Nasdaq: 2024-05-19 14:00:00

Among the “Magnificent Seven” stocks, Apple (NASDAQ: AAPL) is down 1.5% in 2024. The latest earnings report indicates possible further losses. Apple’s lack of innovation and competition from Meta Platforms have affected demand for its products.

High inflation and rising interest rates have impacted consumer purchasing power, leading to stagnant iPhone sales for Apple. Revenue in China fell 8%, and sales of iPads and wearables declined. Apple’s delay in announcing an AI roadmap puts it behind its tech peers in innovation.

The Motley Fool’s Stock Advisor team does not recommend investing in Apple at this time. They have identified 10 other stocks for potential high returns, excluding Apple. With stagnant growth and competition, Apple’s stock may not be the best choice for growth investors.

Former Meta Platforms spokesperson Randi Zuckerberg serves on The Motley Fool’s board. Author Adam Spatacco holds positions in Apple, Meta Platforms, and Tesla. The Motley Fool has disclosed positions in and recommends Apple, Meta Platforms, and Tesla.



Read more at Nasdaq: From Artificial Intelligence (AI) to iPhones to China, This Chart Sums Up Apple’s Declining Business