The 'Fast Money' traders debate if Apple has its mojo back

AI Strategy & Market Perception - The market is waiting for Apple's AI strategy to be revealed, which is crucial for regaining tech leadership and reaching new all-time highs [2] - There's an argument that AI is not yet priced into Apple's stock [9] - Apple's stock has underperformed relative to other tech giants like Google, Meta, and Amazon, even before considering AI [10] - Some analysts believe Apple may not reach new relative highs compared to the S&P 500 tech sector, especially with the rise of companies like Nvidia and Palantir [8] Financial Performance & Valuation - Apple's valuation is around 31 times earnings, which is higher than the S&P 500 [5] - Apple's adjusted EPS growth is approximately 9% year-on-year [5] - Apple's free cash flow yield is better than 3% and growing [5] - On a relative basis, it's hard to get super excited about Apple's valuation compared to the S&P 500, which is growing at least 12% year-on-year [6] External Factors & Geopolitics - The resolution of tariff and China-related issues is a positive sign for Apple [4][5] - Geopolitical factors, particularly related to China, have contributed to Apple's underperformance in the last 6 months [13] - Tim Cook is praised for his handling of geopolitics [12] Business Strengths - Apple has a very sticky business, making it difficult for users to migrate away from the Apple ecosystem [6][7] - The iPhone refresh cycle is continuing, driving revenue [12] - Apple is considered a lower beta and more defensive stock [8]