Apple Stock Initiated At Neutral. Here's Why.

Group 1 - Investment bank Raymond James has resumed coverage of Apple (AAPL) stock with a market perform, or neutral, rating, advising investors to stay "on the sidelines" for now due to stretched valuation and lack of near-term catalysts [3] - Analyst Melissa Fairbanks highlighted that despite strong fundamentals and improving product cycles, the current valuation of Apple is concerning [3] - The stock market is at record highs as 2025 comes to a close, with major companies like Nvidia, Google, and Apple being closely monitored [4] Group 2 - Apple CEO Tim Cook disclosed a $3 million purchase of Nike shares, with Nike's stock at a seven-month low [6] - There is speculation that 2026 could be a pivotal year for Apple as it may transition from being an AI laggard to a leader in the AI space [6] - The tech sector is seeing significant stock buybacks in Q3, with expectations for continued activity in 2026 [6]