31 Oct '17, 12pm

Apple's pricey new iPhone means it looks a lot like Louis Vuitton

As Apple Inc. prepares to start selling the $1,000 iPhone X, its most expensive smartphone yet, it seems reasonable to ask if it’s still a technology company vying with the likes of Samsung Electronics Co., or has become a luxury stock. The question has been raised by analysts at HSBC Holdings Plc led byErwan Rambourg. “Young Asian consumers willing to spend $1,000 on a gift or a treat for themselves could look to Apple’s latest gadget,” they wrote in an Oct. 31 note. “But alternatives could just as easily be a Louis Vuitton product, a trip, a stay in a luxury hotel, or a Michelin-star restaurant." And his conclusion? Yes, Apple is a luxury stock as an alternative for consumers, but its valuation isn’t pricey. Luxury stocks are currently trading at valuations much higher than Apple’s, and the bank said it’s hard to imagine sales growth will accelerate further for many comp...

Full article: https://www.bloomberg.com/news/articles/2017-10-31/for-hs...

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