Aktie im Blick: Der Apple-Konzern hat ein Luxusproblem, die Aktie ebenso

Apple's third quarter earnings exceeded analyst expectations with $114.5 billion in revenue and $2.10 earnings per share. iPhone sales, its main product, also outperformed, with $57.6 billion in revenue. However, the company only expects 7-10% growth for the holiday quarter, down from 12% last quarter and 16% the quarter before.

The slowdown is due to supply chain bottlenecks and increasingly expensive memory chips, mainly caused by the artificial intelligence (AI) boom. Apple cannot meet the high demand for its iPhones as they are in short supply, even for the new and pricey foldable iPhone Duo. Limited quantities were delivered to stores, limiting earnings.

The company has been a reliable revenue and profit generator for shareholders for years, with its stock up 21% since the beginning of the year. The stock is valued similarly to 2007, just before the 2008 financial crisis hit the markets. Apple's stock is vulnerable to price drops as it is currently more expensive than other technology stocks, even the S&P 500 which is only half as expensive.

However, the company's success story remains intact with the iPhone being its main driver of revenue and profits. With demand outpacing supply, Apple has a luxury problem. Analysts agree, with 33 recommending buying, 18 holding and 6 selling the stock despite its high price. Apple's consistent profitability over the years, with annual net revenue returns of over 20%, is a major reason for the many buy recommendations.

The company's ability to keep customers loyal to its brand for the long term, through a closed loop between its various devices, allows for high sales prices, high profits and margins. Apple's aggressive share buyback program, amounting to $750 billion over the past decade, dilutes the number of outstanding shares and concentrates dividends among fewer shareholders.

Since 2013, Apple has reduced its share count by 45%. The stock's scarcity makes it a rare commodity in the long run.