Steven Cohen sells Apple stock and buys AI stock Axon Enterprise with strong growth potential.

From Nasdaq: 2025-01-25 03:25:00

Steven Cohen, the 12th-most successful hedge fund manager, sold his stake in Apple and bought a small position in Axon Enterprise, an AI stock. Apple faces challenges in China and potential loss of services revenue. However, Axon reported strong financial results and has AI-driven growth potential. Investors should consider both stocks carefully.

Apple’s iPhone market share in China has declined, and potential loss of services revenue looms if Google search deal is prohibited. Analysts expect a 9% earnings increase for Apple, but its current valuation looks expensive and driven by multiple expansion. Investors are advised to avoid the stock due to these factors.

Axon Enterprise, a public safety company, reported strong financial results with revenue increasing by 32%. The company is a market leader in Tasers, body cameras, and AI-driven software products. While its valuation appears high, Axon has consistently beaten earnings estimates and has significant growth potential in its $77 billion addressable market.

Investors are encouraged to consider a small position in Axon Enterprise, given its AI technology and growth potential. The company has momentum in drones and robotics, and CEO Rick Smith sees it as a leader in practical AI applications. While valuation may seem high, Axon’s track record of beating earnings estimates suggests future value growth.

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Read more at Nasdaq: Billionaire Steven Cohen Sells Apple Stock and Buys a Little-Known AI Stock Up 500% in Less Than 3 Years