Apple’s stock enjoyed a modest boost ahead of the July 4 holiday, along with an upgrade from Jefferies. However, not everyone on CNBC’s “Fast Money” panel is celebrating. Several traders on the show expressed skepticism about the tech giant’s long-term prospects, particularly when it comes to artificial intelligence (AI) and product innovation.
Dan Nathan, principal at RiskReversal Advisors, offered a stark outlook for the second half of 2025. “The rest of the year could be challenging for Apple,” he said during Wednesday’s broadcast. “They still haven’t laid out a clear AI strategy.
So we’re looking at a core product that hasn’t shown meaningful growth over the past three years, and it’s unlikely to change this year. That means Apple could effectively miss an entire product cycle.”
Jefferies analysts took a more neutral stance earlier in the week. On Tuesday, the firm upgraded Apple from “sell” to “hold” and increased its price target from $171 to $188 per share. Jefferies noted that some customer demand may have been pulled forward amid concerns about potential tariffs, and the analysts expect Apple to post solid results for the June quarter.
As of Thursday’s market close, FactSet data showed that only three analysts still maintain “sell” ratings on Apple — a relatively small number for a company of its size and visibility.
Despite the upgrade, other “Fast Money” traders remain wary. Karen Finerman, CEO of Metropolitan Capital Advisors, said she isn’t convinced Apple is on solid footing compared to its mega-cap tech peers. In fact, she labeled Apple her “least favorite” among the so-called “Magnificent Seven” stocks — a group that includes Alphabet, Amazon, Meta Platforms, Microsoft, Nvidia, and Tesla alongside Apple.
“When you consider supply chain vulnerabilities, Apple is arguably the most exposed of all the Mag Seven,” Finerman said. She cited the company's manufacturing dependency on China and other international factors that could be affected by escalating geopolitical tensions.
Tim Seymour, another panelist and chief investment officer at Seymour Asset Management, acknowledged the challenges Apple faces but took a slightly more optimistic view. He believes much of the negative news surrounding tariffs and China has already been priced into the stock.
Still, Seymour pointed out that Apple’s valuation remains a concern. “The real issue for investors is the stock’s multiple,” he said. “That alone should give investors pause. But I’m still somewhat optimistic — I’d say I’m more glass half full than half empty when it comes to Apple.”
While Apple saw its shares rise by 6% during the shortened trading week, it remains behind the rest of the Magnificent Seven in 2025 performance. So far this year, Apple’s stock is down about 15%, while the broader Mag Seven index is up around 3%. This underperformance raises further questions about Apple’s momentum heading into the second half of the year.
Much of the concern centers on Apple’s perceived lack of a compelling new growth narrative. Unlike competitors such as Nvidia and Microsoft, which have aggressively positioned themselves in the booming AI space, Apple has remained relatively quiet. For a company that has long been a market leader in innovation, the absence of a clear AI strategy is making investors nervous.
Adding to the uncertainty are potential trade disruptions. With renewed tariff threats from former President Donald Trump looming over U.S.-China relations, Apple’s dependence on global supply chains could present material risks. Even if some of the worst-case scenarios have been priced in, as Seymour suggests, the geopolitical climate remains a wildcard.
The company’s next major update comes on July 31, when it reports earnings for its fiscal third quarter. Analysts and investors alike will be watching closely for any guidance on future product launches, AI integration, or global market trends.
Until then, Apple appears to be in a holding pattern — caught between analyst upgrades and investor hesitation. The recent Jefferies move to “hold” suggests a more tempered view of the company’s near-term upside, while lingering doubts about growth, supply chains, and valuation keep many investors cautious.
Overall, while Apple still commands loyalty from long-term shareholders and remains a titan in the tech world, its lagging performance in 2025 and uncertain strategic direction have dimmed the enthusiasm that once surrounded the stock. Whether it can reclaim its leadership position among the Mag Seven will likely depend on its ability to articulate a compelling vision for the future — especially one that includes AI.
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