Apple’s iPhone X is OK but not spectacular, and growth could slow

Investing


Billionaire investor Mark Cuban told CNBC on Tuesday that he believes Apple will return great value to its shareholders but added the stock may not see as much growth as it had in the past.

“I’ve had the [iPhone] X, and it’s OK but not spectacular,” Cuban told “Fast Money Halftime Report.” “Apple’s not going to fail. Apple’s going to keep on growing. But I don’t know if we’re going to see the hypergrowth.”

“For value investors it’s fine,” Cuban continued. “For growth investors, I think it’s a challenge.”

Apple hosted its 2018 annual shareholder meeting at the new Steve Jobs Theater on Tuesday. The agenda included votes on compensation for board members and executives. The meeting came a couple of weeks after the company reported disappointing iPhone shipment numbers and weak guidance for 2018.

Cuban was also asked about tech stock Snap. The investor said he missed the upswing on buying the Snapchat parent but believes its CEO, Evan Spiegel, is “smart.”

He also said his kids are using the social media app more than Facebook, but added they were complaining about the recent updates. “I think the Snapchat updates will end up being a net positive for Snapchat,” he said.

— Disclosure: CNBC owns the exclusive off-network cable rights to “Shark Tank,” which features Mark Cuban as a panelist. Additionally, CNBC parent NBCUniversal is an investor in Snap.



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