Billionaires have started shifting their portfolios, selling Apple (NASDAQ:AAPL) shares and some picking up a top TSX stock instead. This pivot reflects a desire to move from highly valued U.S. tech stocks to assets offering consistent, long-term returns. Apple stock, a titan of innovation, has delivered decades of growth. Yet its recent challenges highlight why some high-net-worth individuals are rebalancing. However, this TSX stock tells a story of growth tied to real-world infrastructure, making it a compelling choice for investors.
Apple falls from the tree
Apple stock’s recent earnings showcased its might but also revealed cracks. Revenue for the last quarter declined slightly year over year, standing at $91.2 billion, a 1% dip. While its services segment, including iCloud and Apple Music, continues to grow, hardware sales, particularly iPhones and Macs, have seen weaker demand. Its gross margin of 44.5%…
