1. Apple's recent earnings show a 1% YoY decline in iPhone sales, reflecting a lack of excitement for the new iPhone. 2. Greater China revenue has shown a 11% YoY decline, following a 13% YoY decline in the previous quarter. 3. Apple's revenue base has grown by a cumulative 2% over the last three years, while its stock price has increased by over 30%, leading to a higher PE multiple compared to peers like Meta and Alphabet.

1. Apple's iPhone 16 sales are underwhelming, leading to an 8.64% YTD decline; 2. Concerns about long-term innovation and competition, especially in China; 3. Analysts are pessimistic about Apple's upcoming earnings with downward EPS and revenue revisions.

1. Apple's Q3 revenue and EPS exceeded expectations, driven by geographic expansion and record services revenue. 2. The introduction of Apple Intelligence features could drive future iPhone upgrades, but declining mobile carrier upgrade rates pose a long-term risk. 3. The author's DCF valuation suggests AAPL is fairly valued, preventing a 'Sell' rating but not justifying a 'Buy' rating.

1. Apple's stock price has surged by 19% since May 2024, outperforming the S&P 500. 2. Anticipated flat iPhone revenue growth and strong service growth for FY24, leading to a downgrade to 'Sell' with a fair value of $180 per share. 3. Apple's service business is expected to be the new growth driver, despite challenges in the Chinese market.

1. Apple's introduction of Apple Intelligence challenges Nvidia's dominance in the AI race by running Gen AI on non-Nvidia servers. 2. Apple's AI strategy has led to a richer valuation for AAPL, despite concerns about its high stock price. 3. Apple Intelligence is expected to boost iPhone sales and enhance the Average Selling Price (ASP) through increased memory requirements and premium pricing for AI-enabled devices.