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kinda embarrassed to even mention this, and realize that to make money in this market you'd be off looking at top line and nothing else but...

any thoughts on apple here? maybe simplistic thoughts here:

bull case
1 - low valuation on TTM (75b CFFO on 702b EV)
2 - strong BS and high FCF
3 - iPhone weakness built in forecast and 5G coming
4 - services continues to expand (large install base)
5 - capital allocation to divi and buyback

bear case
1 - as one wag noted, if iPhone is weak, nothing in the world can make up for that
2 - people keeping their stuff longer
3 - china don't like US anymore (could flip soon)
4 - law of large numbers
5 - 22% net margins hard to improve

i have no idea what it ought to trade at frankly
but do you think it can move up 20% in the next 12 months?
10 year treasury is very low and china trade talks could be resolved (or not)

too hard
thoughts?
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