From Nasdaq: 2024-04-09 07:15:00

The S&P 500 index is up 10%, but Apple’s stock has fallen 12% in 2024. Apple’s revenue grew by 2%, with an EPS boost of 16% from share buybacks and improved income. However, Apple’s gross margin growth could be at risk, affecting its ability to grow earnings and maintain valuation.

Apple stock is still pricey, trading at 26 times forward and trailing earnings. With no projected earnings growth, analysts suggest Apple’s stock may have further to fall. Apple needs a new growth driver to sustain its stock price above the market average.

Considering the uncertain future of Apple’s stock, it may not be the right time to invest. The Motley Fool’s Stock Advisor did not include Apple among the 10 best stocks to buy now, focusing on other picks for potential high returns in the market.



Read more at Nasdaq: Down Over 10% This Year, Is It Time to Buy Apple Stock?