WATCH: Stock pick — Apple
Imtiaz Suliman from Sentio Capital chose Apple as his stock pick of the day.
“It has come off recently as concerns with the [China-US] trade war and a slowdown in China have taken hold, but if you look at Apple, the services revenue is growing much faster and is at a higher margin.
“They have a $130bn excess cash, which they can either use to do more share buybacks or pay out in dividends. So, as we see iPhone sales taper off, we will see more revenue or contribution coming from wearables, which is your Apple Watches, and the services revenue, which is increasing more and more towards the profits.”
Imtiaz Suliman from Sentio Capital talks to Business Day TV about Apple, his stock pick of the day
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