'People keep underestimating Apple's new business model,' the 'Mad Money' host says.
The company needs a new cohort of researchers that will give more weight to its subscription service business than its iPhone sales, the"People just don't understand how to evaluate the new Apple. They view it as a sagging hardware story," he said. "People keep underestimating Apple's new business model."
The company has been shifting focus from hardware to services as the iPhone replacement cycle becomes lengthier and the subscription economy grows. Coming off the quarter report, the host thought Apple deserved a string of price target increases and upgrades to buy fro hold.
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