$Apple(AAPL)$ You don't have to buy or even like the latest iPhone for AAPL to go up. Owning the stock is a bet on Apple's overall business: iPhone, Services like the App Store, Apple Music, iCloud, Apple Pay, plus Mac, iPad, Wearables, and the massive cash pile and buybacks that support the share price. Consumer hardware cycles matter, but they aren't the only driver. Buying the stock is the purest way to express that view.
Why did the guy refuse to buy the new iPhone? Because his broker already told him the purest way to support Apple was just to buy the stock. And that way his wallet still had enough left for the next earnings call.
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