Apple’s inventory is the largest brief for investor Dan Niles amid worries about China’s iPhone ban

• Apple’s inventory is at present the one largest brief for hedge fund investor Dan Niles.
• “Offered $AAPL & now our largest single inventory brief,” the Satori Fund founder mentioned in a Thursday submit on X.

Hedge fund investor Dan Niles says he is betting onerous towards iPhone maker Apple, which is now his largest single-stock brief place.

“Offered $AAPL & now our largest single inventory brief,” the Satori Fund founder and senior portfolio supervisor mentioned in a post on X Thursday.

Niles cited three causes for his bearishness towards the Huge Tech large – together with worries about China’s iPhone ban. The Asian nation just lately ordered its central authorities officers to not use Apple’s iPhone or telephones from international manufacturers at work, as tensions between Beijing and Washington warmth up, in line with the Wall Road Journal.

It follows the US barring tools gross sales from Chinese language tech companies Huawei and ZTE through the Donald Trump administration.

Shares in Apple took a beating on Thursday because of experiences of Beijing’s iPhone crackdown, resulting in a $191 billion loss within the tech titan’s market cap in simply two days.

Different dangers for Apple embrace rising competitors from Huawei, Niles mentioned, following the discharge of two new smartphones by the Chinese language firm.

In the meantime, the forthcoming resumption of pupil mortgage funds within the US may squeeze Individuals’ spending energy, probably weighing on iPhone demand, Niles added.

Lastly, Apple’s slowing income over the previous few quarters “will pressure buyers to query 29x CY23 PE w/ no main AI play vs S&P at 21x,” he mentioned.