iPhone 16 preorders down 13% year over year may spell disaster for Apple stock

From Nasdaq: 2024-09-20 06:45:00

Apple shareholders are counting on a successful iPhone 16 launch to boost the stock, which is currently trading at a premium price despite weak growth prospects. However, reports suggest iPhone 16 preorders are down 13% year over year, potentially spelling disaster for the stock.

Apple has struggled with revenue growth since 2022, yet the stock price has climbed, trading at a premium of over 32 times forward earnings. With weak demand for the iPhone 16, investors may need to reconsider their position in Apple and explore other investment opportunities with better potential for growth.

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