I really wanted to love this stock. Back when I was at Goldman Sachs, I’d drop $3.65 on a venti green tea – twice a day, no questions asked. These days, it’s closer to $5, and I’m still in line, loyalty app ready. Surely, I figured, this has to be investable. Starbucks always looked like a steady compounder: habitual, a little addictive, and just premium enough to keep raising prices without losing customers. So when the shares dipped, I thought it might be time to take a sip. Great brand. Global scale. Predictable demand. But the more I dug, the more it felt like the market had already factored in the buzz. Starbucks still trades at a premium, even with slowing growth, rising costs, and union pressure. The business isn’t broken – not even close – but it’s priced like the rebound’s already underway. And even for a loyal, tea-fueled optimist, that’s a tough brew to swallow. Here’s what I found. That’s the latest Research: the sweet and bitter truth about Starbucks’s pricey stock. Read or listen to the Insight here |