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Musk calls tax bill a “disgusting abomination,” Nvidia leapfrogs Microsoft in market cap, Fed lifts asset cap on Wells Fargo, and more news to start your day.

Apple (AAPL 0.83%) shareholders haven't had the best year. While the market (as measured by the S&P 500 (^GSPC 0.58%) index) is essentially flat for the year, Apple's stock has dropped by 20%.

Berkshire Hathaway (BRK.A -0.97%) (BRK.B -0.92%) CEO Warren Buffett has steered his company to market-crushing performance over multiple decades -- so much so that he has earned the nickname "the Oracle of Omaha." When he steps down from his role as the company's chief executive at the end of this year, it will mark the close of one of the most fantastic corporate leadership runs in history.

So far, Apple's (AAPL 0.83%) efforts in artificial intelligence (AI) have underwhelmed investors, and it's fair to say that no one thinks it's taking the world by storm with this particular technology. Its Apple Intelligence initiatives are not getting nearly the buzz that competitors' products are receiving, and it seems that its other AI-related products (advanced AI chips, for example) are still in development or getting little fanfare.

Year to date, Apple (AAPL 0.83%) and Tesla (TSLA 0.66%) have been the two worst-performing "Magnificent Seven" stocks, notching losses of 19% and 15%, respectively. But Wall Street expects Apple shares to rebound in the coming months while Tesla shares fall even further, as detailed below:

Apple (AAPL 0.83%) has faced a series of headwinds in the past two years. Some investors believe the company is losing ground to its competitors in the rapidly growing artificial intelligence (AI) field; iPhone sales are no longer the growth driver they once were; and lawmakers and regulators have targeted the tech leader due to alleged antitrust practices.

You can catch Opening Bid on Apple Podcasts, Spotify, YouTube, or wherever you get your podcasts. What started 40 years ago as a company focused on "quality communications" by Irwin Jacobs has morphed into Qualcomm (QCOM) today.

Companies with strong cash-generating abilities are great targets, as they have the ability to fuel growth, pay out dividends, and easily wipe out debt.

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