ROIC is historical and means little unless they have a strategy to maintain that . With so much funds allocated to buy backs at elevated levels , i think the argument for superior ROIC is spurious . Fact is that consumers have greater choice now , including Deepseek and Apple is unlikely to be able to monetise Apple Iintelligence for a subscription fee. Conclusion: Apple is overvalued and Buffett is right 

Before all the so called Robotics takes place .. folks will dump Tesla cars . As it stands , the Tesla value of Tesla cars is plummeting.  If we look at yearly growth , Tesla sales actually declined in 2024z Mush has guided for growrh in 2025, but frankly that looks like a stretch coz Chin Se buyers are likely to give it a miss given the political tension between The Musk led US administration and China. Next China is already leading in robotics and the notion that Musk's a robots will replace US workers is a piped dream.. it would be essentially ceding control over to Musk. Corporate America will certainly hedge their bets . meanwhile Tesla is likely to hit $300 by  1H25. almost half of Wedbush's $ 550 target.

Yes the narrative for American exceptionalism is being dismantled.. this is just the start of the correction.

Yet Dan Ibest believe that a Apple's iPhone sales will have a record year in 2025. Lots of fluff on Wall Street.

Pure protectionism. China should do the same and ban US cars including Tesla on security concerns.

They should have highlighted the steep over valuation earlier and also question the logic of 20-30% sales growth that musk touted for 2025.

Grossly overvalued .. he never provided details on his valuation or his terminal growth assumption which is key in DCF analysis. Also it's a mistake to use FCF margin as a guide As capex level varies . 

US leads crony capitalism..

If autonomous driving is reason to buy Tesla , one is better off looking at Baidu which already has autonomous vehicles . Tesla's earnings weee supported by govt credits without which it would have missed expectations. 

The question is whether JD will continue with buybacks at this level. 

This is manipulation .. rather than investment.. 

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JD announced that Walmart has already sold the 5% stake values at US$3.5 b .so this is a fantastic opportunity to buy the shares.  The quantum of sales is less than Jensen Huang's Sale of Nvidia.

He didn't even talk about valuation or cash flow but just " momentum " . Terrible research .