Michael Wursthorn
speaker
1,567 appearances
29 recordings
1 series
first heard Jul 2017
last heard Nov 2021
Michael Wursthorn’s voice in public audio — every appearance, attributed to the second.
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Appearances
And that has to be very different from, say, how you look at Apple, a manufacturer.
So there's more differentiation going on.
And that's part of the differentiation is that investors are realizing that for some of these companies, they're
They may be mature.
So Apple, in this case, has always been looked at as this manufacturer of iPhones, of tablets, of other products.
And it had this annual launch cycle that reliably would impress people and then stock prices would rise.
That stock's been a little more stuck that last year and a half.
But for investors to see that future value, they're saying you have to look at services.
You look at all the things people are spending on their phones, on their tablets, and how much of a chunk Apple gets of that.
And that's how investors are getting comfortable with at least, say, Apple in terms of how to invest in that going forward.
And that's where we are thinking about this new group of leaders because you do look at the FANG stocks.
Over the last 12 months, Netflix, for example, is down 15%, 16%, 17% from that point last year.
Some of the other ones are down a little bit less than that but still down overall.
But you looked at, say, software, and there are payment service companies and some other ones that focus, say, on IT services.
They're up 50%, 60% from that same time last year.
And these aren't stocks that are going to pull the stock market higher because the capitalizations are still too small.
But it's where investors, especially in technology, are saying that when I think about where my portfolio has the biggest potential to grow, it may not be in these really established industries like tech.
Social media, for instance.
I mean, government regulation is just going to make that a more costly business.
So you're seeing them look at places like IT services, like software, because there's a lot more potential for these companies right now, considering where they are in their current, say, environments.
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