Apple Inc.
Thesis
After previously exiting our position in Apple due to concerns about slowing smartphone adoption and competitive pressures, we have re-entered the stock. We believe that Apple's value is being underestimated, particularly with potential growth in the automotive sector, where even a small market share could significantly impact earnings per share.
Did it work?
The pitch is a long thesis on Apple resting on the stock being undervalued, with automotive growth as a potential EPS catalyst. No price performance data and no timing information are provided, so the valuation call cannot be verified. The specific automotive catalyst never clearly materialized (Apple's car project was ultimately shelved), but without knowing when the pitch was made or how the stock performed, the overall thesis can be neither confirmed nor invalidated.