Sell Apple (AAPL) and LandBridge (LB)
With the June Issue of Cabot Early Opportunities coming out tomorrow, we’re going to do a little trimming today to help maintain a tight focus on performing positions.
First up on the sell block is Apple (AAPL). The company held its WWDC in early June, with the major takeaway being a user interface refresh and developer-focused AI strategy that builds on Apple’s ecosystem and reputation for seamless use. While the lack of major announcements might be a little disappointing for those wanting Apple to make a splash, one does have to wonder if a slow and steady approach to AI on Apple devices will ultimately lead to a more controllable (and more easily monetized) suite of AI offerings. On balance, I think AAPL is a long-term holding, but I am also getting a little frustrated with the stock’s underperformance. Part of what’s holding APPL back is the company failing to make progress in the courts to stop developers, like Amazon (AMZN) and Spotify (SPOT), from updating apps to avoid commissions. While selling AAPL stock has historically been a mistake, the lack of momentum in the story or with the stock means there’s more attractive growth opportunities in the CEO portfolio right now. I would never tell anybody to sell APPL stock completely, but I’m going to let it go from this portfolio and take a modest 5% gain to help maintain focus on faster-moving names. SELL
Next up is LandBridge (LB). The stock hasn’t done a heck of a lot since I added the position in February. With more compelling opportunities in our portfolio, we’ll let it go today. SELL
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