Part 3/7:

Fitzgerald pivoted the conversation toward Apple, which is aiming for a $4 trillion valuation. He insisted that Apple remains significantly underrated and stands as a front-runner in the technology sector. He emphasized the ubiquity of Apple devices and their integral role in accessing AI technologies, suggesting the market has not fully grasped the company’s growth potential.

Continuing this discussion, Deets acknowledged that the earnings forecast for tech companies, including Apple, looks robust for the coming year. However, he urged caution regarding Apple’s high valuation metrics, as its earnings growth does not justly correlate with its price-to-earnings (P/E) ratio, which has soared into the 30s range. Deets emphasized the historical context of Apple's earnings multiples.