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And Apple recently hit a new high after the announcement of the iPhone 8 event.
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What does Apple need to do for that to keep the momentum up after the event and after the launch of the phone?
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Yeah, I mean it's gonna be hard, right?
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And we've had a strong buy opinion on Apple for some time
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I remember a little bit more than a year ago,
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this was a stock that was in the low 90s.
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And now, we're... I think over a hundred and sixty dollars a share.
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So, it's been kind of tough to some extent a year ago thinking about where the price was,
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but again we've seen the appreciation in the shares in part
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because Apple seems to be delivering in terms of how they're gaining market share,
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the new iPhone that is expected to be introduced I think really within a week or so
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and I think people are very excited about that.
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Frankly, sometimes we do see a "sell-on-the-news" kind of impact,
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and that's something that folks need to be aware of,
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especially, given the fact that the stock is at all-time highs right now.
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However, I think it's pretty clear that a major growth driver beyond just the new iPhone
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is gonna be the services business, which I think contributed more than a fifth of the company's revenue in the recent quarter.
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And that's something that we think has legs in terms of a growth story from a company for years to come.
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So, it's gonna be really interesting to see what the new iPhone consists of
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and a lot of news has been made about augmented reality and about wireless charging and things like that
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and I think a lot of that is already priced into the stock.
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It's amazing, you know?
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If you go back 5 years,
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there really was very little in terms of certainty about what Apple will announce these events.
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Now, I think there's really not a lot of mystery,
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and so I think that's gonna contribute to maybe a "sell on the news"
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and maybe an additional buying opportunity.
