as it believes the company is trading near “all-time high valuation levels” as its sales growth is about to slow.“We expect the US to experience its fourth consecutive y/y decline in F4Q23, potentially carrying into F124 for several reasons. We also expect margins to improve at a slower pace in the next couple of years,” wrote analyst Brandon Nispel in a note seen by
According to the analyst, this shift will help lift the average selling price, which means little change in overall unit sales., for example, notes that shares of Apple are still up 33% this year, though the company has retreated more than 12% from its July record high. In addition, the publication says the release of new iPhones “has done little to help reignite the rally.”