Apple's Still a Stock to Own for the Long Term, JMP's Lehmann Says

The transcript discusses the investment potential of a company transitioning from a product-based to a services-based model. It highlights the challenges of declining unit sales and the importance of services revenue. The discussion includes market perception, potential innovation, and valuation based on growth. A comparison with Microsoft's transition to a services company is made, and the impact of China relations on the company's stock is explored.

How does the transition from a product company to a services company affect Apple's market valuation?

What are the potential risks associated with Apple's unit sales in the upcoming quarters?

What innovations are expected in the phone market over the next three to five years, according to the text?

What factors contribute to the perception of Apple's stock as not expensive relative to its growth rate?

In what ways might the relationship with China impact Apple's stock performance?