I also expect the company's revenue growth to experience pressure over multiple quarters amid the current harsh environment, and warning signs from Beijing do not add optimism either.
But the latest iPhone event revealed a massive crisis of new ideas at Apple. Yes, the company is still the largest in the world, and it is the absolute free cash flow machine. Today, I would like to downgrade my rating for AAPL again. My latest neutral thesis about Apple's ( NASDAQ: AAPL) stock worked well since the stock declined more than 6% since the article went live, compared to -1% for the broader stock market.
Justin Sullivan/Getty Images News Investment thesis
