Rebecca Walser, CEO of Walser Wealth Management, joined CNBC's "Power Lunch" on Wednesday to discuss Apple following a notable downgrade, as well as Netflix and Snowflake . Here's what she had to say about each technology name during the " Three-Stock Lunch " segment. Apple Walser said she agreed with Needham analyst Laura Martin, who downgraded shares of the personal technology giant to hold from buy on Wednesday. Martin said the company is facing relatively high valuation and growth competition. Walser said concerns over President Donald Trump's tariffs have weighed on the iPhone maker, with investors wondering what's next following the expiration of many of the president's delayed levies on July 9. Apple is known for its high proportion of international manufacturing. "It's not really Apple's fault," Walser said. "It's all the tariff talk and all the fact that, they have very heavily relied on supply chains to be in Asia." "This is a direct trade war between the United States and China, and it expires July 9," she added. "It's really concerning to us that we haven't seen headway." Despite the Needham downgrade, most analysts have a buy rating, according to LSEG. The average price target implies shares can rally more than 13% over the next year. That would mark a turn for Apple shares, which have fallen about 19% in 2025. Netflix Walser called Netflix "very expensive." The stock climbed to a 52-week high in Wednesday's session and has soared nearly 40% in 2025. "I would say right now, we are going to be a hold on this, potentially even a sell if we don't see that … subscriber growth and see the actual growth that they're projecting in the next quarter," Walser said. Netflix stopped reporting its quarterly subscriber figures in the first quarter of 2025, and Walser said she is concerned that she doesn't see the data going into those counts. The majority of analysts have a buy rating on the stock, according to LSEG. However, the typical price target suggests shares can slide more than 6% over the next year. Snowflake Walser also deemed data storage play Snowflake an expensive stock and said it could be a risk if the multiyear data investment cycle doesn't pan out as hoped for. Shares also hit a 52-week high on Wednesday and are now up 35% on the year. SNOW NFLX YTD mountain Snowflake and Netflix in 2025 "It's an expensive stock," she said. "And if that deal doesn't materialize, or it doesn't materialize to the extent necessary, then there is going to be a pullback, and you're going to have some unhappy people." Most analysts surveyed by LSEG have a buy rating on the stock. The average analyst foresees more than 6% in upside.
