Karen Moscow

People getting the new phones that they've had for four or five years.

And analysts and investors are starting to see that happen and they're excited about it more and more going forward.

But, you know, at the same time, Apple's valuation is near record highs.

It trades at 32 times forward earnings or nearly 33 times forward earnings.

That's more than any other stock in the Mag 7 industry.

Yeah, and if you think about it, it's pretty incredible because Apple's revenue growth is very small compared to Nvidia, for example.

I mean, they've been doubling revenue and having these huge numbers.

Apple's not been doing that.

But its revenue is so massive.

It is.

It's so mad.

It's not that it's not putting up big numbers, but the growth, the percentage gain year over year is not really comparable to Nvidia.

So it's interesting to see it become more expensive.

Yeah, so one thing that I keep hearing, and I just spoke to an investor about this, is they really want an agentic Siri.

They want that conversational experience with the phone, and so this is something that actually I think we see from Apple, we've seen in the past, is that they wait on the new technology until they can really get it right.

So I think what we've been seeing, or what I've heard at least from technical analysts, is that there could be a little bit of downside sort of baked in here.

And they think that there could be a little bit of a shakeout, right, or that some healthy selling might give a new place for investors to jump back in and actually really start buying with momentum.

Bloomberg Daybreak is your best way to get informed first thing in the morning, right in your podcast feed.

Hi, I'm Karen Moscow.

Listen to the Bloomberg Daybreak U.S.