*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).
Moderna launched a clinical trial of a COVID-19 booster shot specifically targeting the omicron variant. The first participant has already received a dose, and Moderna expects to enroll about 600 adults total, split between two groups. In the first group, participants will have previously received two doses of the Moderna vaccine, and in the second, participants will have received its booster. Dr. Paul Burton, chief medical officer at Moderna, joined Cheddar’s Opening Bell to discuss the trial, yearly boosters, and what lies ahead for the company.
A growing number of workers at major produce companies, processing plants, and grocery stores are calling out sick.
These virus-related absences are resulting in product shortages, leaving supermarket shelves far from full. Jesse Newman, agriculture reporter at The Wall Street Journal, joins Cheddar News to discuss.
There may be some light at the end of the tunnel for struggling retailer Kohl's. Shares soared more than 35 percent on Monday on reports that a second takeover could potentially be in the works - just days after a group backed by activist investment firm Starboard Value proposed buying the company. Private equity firm Sycamore Partners has allegedly reached out to Kohl's, offering to pay at least $65 per share in cash for the company - giving it a valuation of close to $9 billion. Joel Bines, Global Head of Retail at AlixPartners, joined Cheddar Movers to discuss the potential takeover as well as the state of retail in the U.S.
Big Apple workers who deliver for food apps like Doordash and Grubhub will now receive a number of legal protections provided through a package of new regulations that have started going into effect. These updated rules include more control over their deliveries, pay and tip transparency, a higher minimum pay rate, and access to restaurant bathrooms during the workday. New York City Comptroller Brad Lander joined Cheddar to elaborate on the regulations and how the platform holders reacted. "I have to say it's a mixed bag," he said. "Grubhub actually welcomed the legislation and said they recognize they need to do better by their deliveristas, but DoorDash, unfortunately, has actually been pushing back against the legislation."
Stocks closed mixed Wednesday after the Federal Reserve's announcement about potential rate hikes this year, beginning as soon as March. That would be the central bank's first rate hike since 2018, and Chair Jerome Powell also didn't rule out a potential rate hike at every meeting in order to combat inflation. RC Peck, CIO of Fearless Wealth, joined Closing Bell to discuss today's close, the Fed's announcement, Tesla's Q4 2021 earnings results, and more.
Stocks closed lower Tuesday, but off session lows amid continued volatility as investors await this week's Federal Reserve meeting, where the central bank is expected to introduce tighter monetary policy. Microsoft also reported second quarter fiscal 2022 earnings after the bell. The tech giant beat on both top and bottom lines, but shares fell after hours. David Stryzewski, CEO of the Sound Planning Group, joins Cheddar News' Closing Bell to discuss today's close, predictions for this week's Fed meeting, Microsoft's earnings report, and more.
Thomas Hoenig, Former CEO of Federal Reserve Bank of Kansas City and currently Distinguished Senior Fellow with the Mercatus Center, joined Cheddar News' Closing Bell, where he says the Fed's decision was no surprise, but believes the Fed is behind the curve on raising rates.
