AAPL price debate: still a “safe premium” or quietly becoming dead money?

Seeing some product rumors today, Perhaps you can search for it yourselves. That’s where I think the real debate is: AAPL is still trading at a clear premium, yet revenue growth is slow, iPhone upgrades feel incremental, and services growth while solid isn’t exactly accelerating. Bulls say: It’s still the ultimate defensive tech Massive buybacks ecosystem lock in justify the multiple Bears say: Too expensive for single digit growth More of a “bond proxy” than a growth stock now Personally, I’m torn. I don’t see a collapse scenario, but I also struggle to see what re-rates AAPL meaningfully higher from here without a new growth driver. Are you holding AAPL as a core forever position, or is it slowly turning into dead money at these levels? By the way, I'm a die-hard Apple fan. I've held Apple stock for a very long time. I'm posting this just to see what everyone else thinks.