Apple's stock performance is increasingly disconnected from its core fundamentals, relying heavily on financial engineering like massive buybacks to prop up its value.
The company's valuation is high with limited impact on earnings per share, leading to concerns about its growth prospects and lack of innovation compared to other tech giants.
Apple has not shown meaningful revenue growth since 2022, with flat earnings per share, lack of significant investments in AI, and stagnating service growth. Regulatory challenges further hinder its expansion.
Analysts suggest Apple's current issues may eventually impact shareholder sentiment, with criticisms about Tim Cook's leadership and the company's failure to capitalize on industry trends like artificial intelligence.