Apple is reportedly working on the iPhone Fold, set to launch as early as next year. The company aims to fix common foldable phone issues, including a crease in the middle, which can deter consumers. The launch of this innovative device and new AI features may boost Apple’s sales amid slowing growth.

Apple’s struggle with sales growth has led to a 17% stock decline this year. Despite a $219.7 billion in net sales, the company only saw a 4% increase from last year. With a lack of innovation and unimpressive growth, investors are hesitant to buy Apple stock, trading at a high multiple of 33 times trailing earnings.

Considering Apple’s challenges and expensive valuation, it may not be wise to invest at this time. With uncertainties around tariffs and trade wars impacting the business, a cautious approach is advised. While Apple’s stock is down, it’s not cheap, and waiting for a lower multiple or better performance may be prudent before considering an investment.

The Motley Fool recommends looking beyond Apple for investment opportunities. Their Stock Advisor team identified 10 promising stocks to buy now, excluding Apple. With historical returns outperforming the S&P 500 significantly, exploring other stock options could lead to substantial gains. Don’t miss out on potential growth opportunities by limiting investments to Apple alone.

Read more at Nasdaq: This New Product Launch Could Spark Apple’s Sales Next Year