Momentum Continues
Apple stock shows strong momentum and reached a new ATH of $300 yesterday. That’s about +10% since the company announced 20th April that John Ternus will take over from CEO Tim Cook in September. So is the market betting on fresh impulses from the new guy?
Well, that’s only part of the explanation, since Apple published strong earnings just a week later on April 30. Revenue came in at $111B, up +17% YoY. Earnings increased +22% YoY, and demand for the new iPhone 17 model remains strong. Combined with a fresh $100B buyback program, the overall picture looks very healthy.
At a P/E ratio of 35, the company isn’t cheap, but in my view it’s still a solid hold. Enjoy the ride guys, the stock is up more than 2x over the past five years alone. Impressive.
