This is exactly what I will be doing Monday with former Apple CEO John Sculley. I last sat down with Sculley in May 2016 when Apple like now, had harsh critics reappearing on the scene. Then, like now, people were wondering about Apple's ability to create the type of game-changing innovation that changes lives (and pushes the stock price up). While Sculley hasn't been involved with Apple for some time, he clearly still pays attention to the happenings of his former employer and is a busy venture capitalist. Hence, I am keen to ask him one simple question: What does the next 10 years hold for Apple? Is the HomePod really a product that will be around by 2027 in any form? Will Apple's upgrade cycle happen every other year as all the innovative life is sucked from the device? These are important questions all optimistic Apple investors must be asking.
Other than that, Sculley has several interesting businesses in the hopper that may eventually be publicly traded (or acquired). But not by Apple, probably.
Your Daily Stock Market Stat
David Rubenstein on rising rates, and PE deals.
Everyone wants to call the top in the market with the hopes of landing a contract to serve as a TV contributor (and sell more newsletters). If you are actively striving for such lofty goals, here is a fun stat that will sound great on the tube and on social media.
The Shiller PE Ratio is trading at its third highest level in history, pointed out TheStreet's Leon Lazaroff. It marks a valuation level topped only by the period just before the Crash of 1929, and immediately prior to the bursting of the dot-com bubble in 1999-2000, which sparked a 75% decline of the tech-heavy Nasdaq over the ensuing two years.
Now get out there and predict the next crash, stud.
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