Steer clear of Apple ahead of earnings, tech investor Dan Niles says

News Snapshot:

Things are not looking up for Apple ahead of its fiscal second-quarter earnings, according to tech investor Dan Niles. Apple, which is due to report May 2, has dropped 14% this year — lagging behind other major technology stocks, such as Nvidia and Meta Platforms. Despite this pullback, the Satori Fund founder still thinks Apple's valuation is too lofty given its fundamentals, which "haven't been great for the last three years." "At a mid-20s [price-to-earnings ratio], I don't know why you would pick that name over a myriad of other names in tech that are growing revenues, earnings and don't...