- selloff today suggests investors are not too keen on paying for higher prices.
- AAPL won't likely make ATH any time soon.
However, AAPL's shift to subscription models cannot be undermined. Despite potential loss(current and future) in devices sales due to competitors and COVID19, its shift to a digital company will serve it well in the long term.
And aesthetically speaking, there is no competitor, and there unlikely will be one, due to the sheer impossibility of growing an ecosystem based on a self developed OS. People pay a premium to be able to be distinguished from users of other brands and AAPL have yet to fail to deliver on such.
- It is doing exceptionally well from a business perspective.
- AAPL is a buy, even at the current level, on a long term perspective.
- However, buying at a pullback from the previous ATH is preferrable.
$295 will be a lucrative buy level.