Cross Says Apple's Install Base Value Is 'Pretty Impressive'

The transcript discusses Apple's business outlook, highlighting better-than-expected revenue and improvements in China. It emphasizes Apple's shift towards a services-based model, leveraging its installed base for subscription growth. Despite hardware saturation, Apple continues to expand its hardware offerings, like AirPods, contributing to incremental revenue. The company anticipates future growth from services, including upcoming video services. Apple's stock buyback strategy reflects confidence in its undervaluation, though it's not sustainable long-term.

In what ways is Apple's hardware business still significant despite market saturation?

What are the implications of Apple's stock buyback program on its perceived value?