$Apple(AAPL.US)The market has become much less forgiving toward companies with negative free cash flow. AI leaders can still deliver impressive revenue growth, but investors are clearly rewarding stability and consistent cash generation over ambitious spending.

I’ve been steadily dollar-cost averaging into Apple. It may not have the most exciting growth story right now, but its resilient business model and predictable cash flow make it a solid core position. Rather than trying to catch the perfect bottom, I’m building the position gradually as sentiment stays cautious.

This reminded me that protecting downside matters just as much as chasing upside. In a higher-rate environment, I’d rather accumulate quality businesses patiently than wait for one “perfect” entry that may never come.

@Captain's Treasure