According to one 25-year tech insider, it’s time to remove Apple (AAPL) from your portfolio…

PBRG friend and technology angel investor Jeff Brown says Apple’s share price has overshot its underlying value. The tech titan known for its incredible gadgets just doesn’t have enough breakthrough technologies hitting the market in the next two years. And that makes its share price vulnerable.

Regular Daily readers know I’ve been “beating the bushes” among our deep network of insiders to supply you with insights from those who know their industries from the inside out…

Jeff’s one of our best-placed experts for surprising revelations like these. He makes his bearish case for Apple below…

From Jeff Brown, editor, Exponential Tech Investor: This may come as a surprise… but Apple is an absolute sell for me today.

Apple’s innovations have hit a significant slowdown. The rumored upgrades of the iPhone 7—due in a few months—include an improved camera and a wireless audio system (versus the iPhone’s traditional audio port). That’s just not enough to drive revenues…

Smartphone shipments across the industry are slowing, too. Shipments are forecast to grow about 3% in 2016—much less than 2015’s 10%-plus growth. For the first time since the iPhone’s launch in 2007, the number of iPhone shipments will decrease from the year before.

And the bad news doesn’t end there…

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Sales are falling in China, one of the largest smartphone growth markets in the world. And growth forecasts for the Apple Watch have been reduced significantly.

In the U.S., Apple Pay—the company’s contactless digital payment system—has not gained much traction. Apple’s also been very far behind in terms of incorporating artificial intelligence into its software platform.

I see about a 20% downside from where we are today… and I don’t see a catalyst to get the company back on track. (At least not within the short term: 12-18 months.)

Now, I will say this: There will be a time to get back into Apple. And it probably is in that 12- to 18-month time frame, after shares bottom out at their new lows. Here’s what I’ll be looking for…

  1. Apple’s not-so-secret electric car project: Titan.

    Apple had plans to develop the vehicle by 2019, but it looks like it’s been pushed to 2020. Either way, a company that does $200 billion-plus a year in revenue needs to offer a product big enough to impact its valuation in a meaningful way. Getting into the automotive industry could do just that.

  2. Attractive new features in the iPhone 8 (expected fall 2017). They could signal a potential catalyst for a major upgrade cycle and an increase in valuation.

But the bottom line is Apple is a “sell” for me today.

Reeves’ Note: Jeff says Apple is just one of many “blue chip” tech stocks primed for a serious fall. A disruptive tech upheaval is in its early stages… and it will wreak havoc on some of the “safest” companies around.

But massive gains lie ahead for the disruptors… and Jeff’s releasing his top insider “watch list” to select eyes only. Click here to learn more.

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