*By Conor White*
Apple, the world's most valuable publicly traded company, may be seriously undervalued, said longtime tech investor Eric Jackson, founder and president at EMJ Capital. He told Cheddar that the iPhone maker should've crossed the $1 trillion threshold long ago.
"This is a company that should be valued as a services business instead of a discreet product business, which is, as long as I can remember, how this company has been valued," he said in an interview Friday.
Jackson estimated Apple's value closer to $1.5 trillion, and he views it as a service-oriented company, much like Salesforce and Google, which get traded at roughly six times price-to-sales multiple.
Though many investors consider Apple a hardware company, Jackson said most consumers have a different relationship with Apple's products.
"Your relationship with your iPhone itself is a long-term service commitment," he said. "Even though you don't have a contract that says your next iPhone you're going to upgrade in one year or two years, who among us who owns an iPhone is not going to, in three to four years, upgrade to the latest and greatest iPhone?"
As bullish as Jackson is on Apple, he admitted China ー and consumers in other countries ー may stunt the company's growth because the iPhone faces competition from cheaper smartphones.
"China is a challenge, for sure, probably the biggest challenge that Apple faces in that regard because you have other services like WeChat that can potentially get in between your personal relationship with the phone," Jackson said.
For more on this story, [click here](https://cheddar.com/videos/why-one-investor-believes-apple-is-worth-more-than-1-trillion).
Lydia Simmons, founder of 'Moms Official Objective' or 'M.O.O.,' joins Cheddar News to discuss nutritional and hormonal support products for every stage of womanhood.
Plant-based hair extension company Rebundle recently raised $1.4 million in a pre-seed round led by M25. The company based in St. Louis says it is revolutionizing hair extensions with more comfort and less waste. Rebundle's braiding hair is made from a non-toxic, biodegradable plant, which the company says is better for the scalp and the environment. Rebundle Co-Founder and CEO Ciara Imani May and Co-Founder and CMO Danielle Washington joined Cheddar News' Closing Bell to discuss.
Soildus Labs, a market compliance and surveillance technology provider for crypto firms, has spearheaded the launch of the Crypto Market Integrity Coalition, a pledge committing to a safe and sensibly-regulated crypto industry. Kathy Kraninger, VP of Regulatory Affairs at Solidus Labs, discusses on Cheddar News' Closing Bell the biggest problems in the digital asset space that this new initiative plans to solve.
Stocks closed mixed Monday as a broader tech sell-off continued, leading the Nasdaq to close down 0.58%. Investors are keeping an eye on earnings, and also looking ahead to Thursday's CPI data, which will give an idea of how hot inflation could still be running. Steve Sosnick, Chief Strategist at Interactive Brokers, joins Closing Bell to discuss today's close, the Federal Reserve's plans to raise interest rates and taper asset purchasing, his 2022 market outlook, and more.
