Apple will be one of the top two performing 'Mag 7s' over the next year: Deepwater's Gene Munster

Apple's Performance and Future Expectations - Apple's iPhone is showing signs of re-acceleration, with growth increasing from a couple percent in March to approximately 10% in the June quarter, adjusted for tariff pull-forward [3] - The upgrade pool from 2021 is contributing to iPhone's re-acceleration [4] - The introduction of a new iPhone Air, expected around $800, could positively impact growth [5] - Expectations for Apple's AI advancements are low, presenting an opportunity for the company to exceed them [6][7] - Deepwater Asset Management anticipates Apple to be a top two performing "Magnificent Seven" stock over the next year [7] Geopolitical and Economic Factors - The discussion revolves around the concept of "state-sponsored capitalism" and its potential impact on tech companies [9][10] - There's concern that companies like Tesla and Apple could face similar challenges as Nvidia and AMD, potentially involving a 15% revenue share [11] - The situation raises questions about whether individual companies can resist government pressures in geopolitical debates [13][15] - The potential exists for China to alter its approach towards US-backed companies, which could disrupt the entire ecosystem [14]