APLY: The Hedge Is Less Valuable Than Before

2026-06-18 11:06:07 ET

Recently I wrote about how Apple's thesis has improved meaningfully compared to my earlier uncertain position that required the YieldMax AAPL Option Income Strategy ETF ( APLY ) as a cushion for drawdowns. For Apple Inc. (AAPL), the China recovery has been stronger than expected, tariff pressures have proven manageable, free cash flow margins have expanded, and earnings execution has remained exceptionally consistent. While a new memory cost headwind has emerged and valuation remains demanding, the balance of evidence today points toward a higher conviction Hold than the one I held eight months ago. ...

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