If you hold AAPL what are you doing now and why? Holding, buying, reducing, selling? Something else?
I've been long AAPL since 2005 and it has been a bedrock in building my portfolio. Over the last few months I decided to reduce my position from around 25% of my holdings down to 10%. I've been selling at these near-all-time-highs.
Why I'm doing this: I don't believe people will be buying new phones the way they have in previous years, but will continue using those they have. I don't believe they'll be adding services but cutting them. Even though I love Apple and their products, and have used them religiously since the 1990s I think the stock is overvalued. Not bearish on the company but on the stock in the context of this broader moment. That context is inflation / recession / stagflation, and the resulting increased prices for necessities, rent, and continuing increase in consumer debt.
I will increase my position in AAPL again if we get down to the $110-130 range. Or if other conditions change.
Overall I've been pivoting my sector balance from the heavy in tech allocation that I've held for decades toward staples, materials, green energy, healthcare, income producers, and a small amount into I see as next-generation tech (like EVs, future of computing, etc.) over the last few months. Part of my aim here is to use the profits from reducing my position to buy companies for the same reasons I bought Apple in 2005, because I saw it as a company that would be a dominant tech player in the future.
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