I have had a range of conversations with colleagues in the tech industry, and it has been interesting to hear the same observation brought up. There seems to be a broad sense the narrative around Apple is particularly negative at the moment.
Now, longtime Apple watchers will know this is nothing new. The past decade, in particular, has led to a flurry of narrative swings around Apple from overly bullish to dramatically negative. We are indeed in a negative cycle right now and understand why it is helpful. Beyond the why, I do think there are some questions around services we don’t have enough information on that until answered, are likely to continue to drive a negative cycle.