Why New Street's Ferragu Upgraded Apple to Neutral

The video discusses Apple's recent financial challenges, including a decline in iPhone revenue and shipments, influenced by consumer behavior and market trends. It highlights the impact of pricing and longer replacement cycles on sales. The discussion also covers Apple's stock performance, valuation, and future outlook, emphasizing the growth of non-iPhone business segments.

Discuss the implications of the economic environment on Apple's sales as mentioned in the text.

What does the text suggest about the future of Apple's stock valuation?

How does the growth of Apple's non-iPhone business affect its overall performance?