Apple's latest iPhone 16, featuring long-awaited AI capabilities, debuted at the Glowtime event on Monday, but failed to create the anticipated buzz among fans.Apple was ordered to pay $14.4 billion in back taxes from Apple for the latter receiving "illegal" tax benefits from Ireland.
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00:00We'll go to another mag 7 big tech stock now apple which has two big headlines to discuss
00:07Of course yesterday was apple's glow time event where they announced, uh some new products
00:13You can look at the chart while the event was going on and it was kind of all over the place
00:17I mean apple dipped pretty hard then came back late in the afternoon
00:20So apple announced its new iphone 16 and iphone 16 plus apple watch series 10 with an updated design a polished
00:29titanium option and a new s10 chip
00:32Um, they announced all this stuff really nothing like that
00:36Uh noteworthy to be honest, like it's kind of that same old same old like, you know updated display
00:42uh better battery life better, uh, they're talking about their in-house chips, which uh, apple's really excited about
00:49Um, but in terms of like actual features of these new phones, they talk about the the mics will be a lot better
00:57Um, but nothing really that crazy that they announced during the event to be honest, but the stock got back bought back up in
01:03the afternoon
01:05Uh, and then this morning we got news that the uh, the apple is getting hit by a more than 14 billion dollar fine
01:12uh by the eu so
01:14Uh, they have to pay that in back taxes and I mean 14 billion dollar fines a huge number
01:20But for apple which has more cash on hand than any other company in the world
01:24It can withstand that the stock's not down too bad this morning, but uh again you had both those headlines on apple
01:32Well, it's again to chew on here. I mean, um
01:37I mean, is it surprising to anyone that there's you know, nothing, you know
01:41that they're making the
01:42Phone, you know making the camera a little bit better making the microphone a little bit better
01:46I mean, this is all they do on the iphone. There's
01:49The apple intelligence
01:51But i've argued for a while. There's been no really crazy innovations and steve jobs has gone now again
01:56They're trying things, you know, the vision pro it just hasn't hit apple intelligence is maybe gonna hit but is this you know
02:03Gonna move the needle tomorrow
02:05Probably not. I think it's a little bit of disappointment from the event. It didn't go down really
02:09It didn't go up anywhere and people just like that's kind of the same old story better phone better mic and whatever
02:15We still like apple because it's safe. We feel it as a safe haven. Um,
02:20And they feel it as an eventual ai play too. I don't like paying 30 times earnings for it
02:25I'd love it at 20 times earnings. I don't know if you're gonna get it there
02:28But at this point in time apples is kind of in the middle of nowhere
02:32You know what? You just took the words out of my mouth
02:34I was looking at this chart and i'm like I want to have an opinion
02:38You all know i'm really opinionated and i'm like this is in freaking no man's land
02:42Yeah, I mean, you know, you're not you're not like oh, I mean you're not like google. Did you see google?
02:48It's seven bucks below. It's april august 5th. Love. Did you see that you talk about?
02:55Relative performance is absolutely horrible. I just had to get that in there
02:59Um, you know what?
03:00I do the only good number the only reliable level I could give you for the day
03:04You guys are gonna be mad at me because it's too far away
03:07Is like I wouldn't be happy with or I would have like feel like ra ra
03:12New all-time highs here until this got above the double top at 225
03:17And then like established a bid there. I'm not talking about trading 2497 and then closing at 2250
03:24I'm telling you get to 225 get over 225 establish a bid at 225
03:30But uh, yeah, that's the way you look at the downside here. I mean you can look at the pre-market low
03:36Uh in the pre-market low which comes in at uh, it's actually an F. Yeah after hours low
03:44216.71 so that that that's not too far away. So three bucks from the low of uh of the pre-market session
03:51Not much to say there in apple