Apple (NASDAQ:AAPL) aficionados are expecting the tech giant to rollout fresh products later this month, including a new iPhone.
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However longtime tech investor Dan Niles, of AlphaOne Capital Managing Partners, says it won’t be enough to lift the stock.
“What new feature are they adding to your phone that is going to make you run out and buy a new one? There really isn’t a whole lot more to add,” Niles said on the FOX Business Network’s Mornings With Maria. He also raised more concerns about Apple in China, “They count on China as their second biggest market, the number one driver of growth for them, a lot of these economies and emerging markets are slowing down so the stock’s certainly cheap, I love my Apple products but right now the fundamentals, numbers, need to come down.”
Niles is more optimistic on his outlook for Google (NASDAQ:GOOGL) and Facebook (NASDAQ:FB) as we approach the Olympics and the U.S. Presidential Election.
“As you head towards the third quarter when the Olympics start and particularly in the fourth quarter when candidates are really going after the presidential elections, they’re going to be using Facebook for example, they’re going to be advertising online with Google, they’re going to try and target the voters that they want to get out there and vote for them.”
Niles predicts these events could dump about $10 billion into advertising much of which will be spent online.
“If you look at this last year advertising up maybe three percent or four percent, underneath that though, online advertising was up about seventeen percent and video online advertising was up about forty percent.” Said Niles.