https://finance.yahoo.com/news/why-apple-ceo-tim-cook-better-blow-minds-with-its-new-video-streaming-service-130025880.html

And those bulls have been rampaging into the event: Apple shares are up a cool 10% over the past month, far better than the Dow Jones Industrial Average and Nasdaq Composite.

Apple may be one of the most widely owned stocks by fund managers (70% of active fund managers have a position in Apple, according to Bank of America Merrill Lynch), but that doesn’t mean these number crunchers are as enthralled with the tech giant’s prospects as in the past. No, Apple has become nothing more than a value play due to its “cheap” valuation (15 times forward estimated earnings, below the S&P 500’s multiple), predictable services revenue stream and unworldly capital return plans in terms of dividends and share buybacks.