Apple is a Fortune 500 company that has taken its brand beyond the 'unique selling proposition' concept. Photo: Reuters

Nigam Agora issued a “sell” recommendation on Apple, hours before the stock peaked five years ago. In the seven months that followed, the value of Apple shares was cut in half.

Agora answers the question this week—can Apple’s stock fall by half again?

Probably not. At least not yet. The two main factors playing in Apple’s favor are 1) anticipation of a strong replacement cycle for the next iPhone that is expected later this year, and 2) anticipation of benefits Apple can receive on repatriating US$250 billion held overseas, under new Trump policies.

Tips from Agora:

  • For those holding Apple, continue to hold
  • Target is US$160 to US$175
  • For those not holding, wait until a dip into the zone of US$120 to US$128.78
  • Pay attention to Apple suppliers which tend to move in advance of Apple stock – suppliers of note include: Analog Devices, Broadcom, Cirrus Logic, Micron Technology, Qorvo, STMicroelectronics, and Skyworks Solutions.