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#SaxoStrats: Why I'm finally selling Apple

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January 06, 2016 #saxostrats, app, apple, apple china mobile, apple competition, apple devices, apple earnings, apple earnings per share, apple ipad, apple iphone, apple new strategy, apple phone, apple q1 earnings, apple results, apple revenue, apple sales, apple share price, apple share prices, apple shares, apple software, apple stock, apple store, apple strategy, apple watch, equities, equities saxo, equities trading, equity, equity index, equity market, equity markets, equity portfolio, equity portfolios, equity research, equity strategy, equity trading, saxo, saxo bank, saxo tv, saxotv, tech, tech companies, tech company, tech firms, tech sector, tech stocks, technical analysis, technology, technology companies, technology industry, trading, tradingfloor, tradingfloor.com
Saxo's Peter Garnry has been bullish about Apple for four years. Now, in a surprise move, he's selling the stock after shares have fallen 22% since their peak.

It follows news that the iPhone 6s is not selling well while sales of the Apple Watch have also disappointed. The drivers include a stronger US dollar and the slowdown in China. The Wall Street Journal is reporting layoffs at major Chinese suppliers.

In his #SaxoStrat, Garnry discusses why the company's valuation risk is increasing. He warns that if revenue growth moves to zero then earnings growth may also hit zero.

Sell: At market
Trailing stop: USD 107.55 (steps of USD 0.48)

And you can read more from Peter here: