Apple needs new growth to justify soaring stock, Barron’s says

Apple shares have had a historic year, with the stock rallying more than 50% in 2023 and recently closed at a record high, Eric J. Savitz writes in this week’s edition of Barron’s. But the unprecedented rally comes amid one of the company’s most disappointing stretches. In each of the past four quarters, Apple’s sales have declined from the prior year. The slide is likely to continue in the current December quarter, the author notes. It’s possible that Apple could stick to its current script and still find a way back to top-line growth. But Apple’s legacy is innovation, not incremental feature creep, the publication adds.