Apple (AAPL) recently reported its second-quarter earnings, surpassing analyst estimates on both revenue and profitability metrics. However, not all investors are bullish on the stock, even after the tech giant announced a staggering $110 billion share buyback program. Joining Catalysts is Bireme Capital Co-founder and Chief Investment Officer Evan Tindell, who has taken a short position on Apple's stock.

Tindell believes that risks ranging from fluctuating demand in China to potential antitrust concerns "are reflected in that premium valuation" for Apple. As the company explores integrating artificial intelligence (AI) into its smartphones, he notes, "It will be interesting to see" if this endeavor can truly materialize into a substantial earnings driver or upstart a replacement cycle for their devices.

Despite the company's announcement of a $110 billion share buyback program, Tindell remains skeptical, asserting that this move does not accurately reflect the company's valuation multiples.

"I think if you hold Apple long-term, you're likely to make a positive return," Tindell tells Yahoo Finance. "I just think the risks are to the downside in the next year or two."

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This post was written by Angel Smith