Apple stock has shown significant growth, making it an attractive investment option.

From Nasdaq: 2024-08-01 14:45:00

1. Apple Inc. stock has shown significant growth over the past three years, with shares rising to $222 from $130. Despite some fluctuations, the stock has experienced gains of 35% in 2021 and 49% in 2023, with a drop of 26% in 2022 due to pandemic-related challenges.

2. Apple’s shares have been on an uptrend in 2024, gaining 15.5% year to date. The company’s short-term moving average surpassed the long-term average in June, indicating a potential long-term uptrend, making it an attractive option for investors.

3. Apple is making strides in AI technology, introducing new generative AI platforms and products like language and image generation tools. With a significant cash reserve of $162.34 billion, the company is well-positioned to invest further in AI and drive sales through brand loyalty.

4. Apple’s recent success in luring Chinese customers with iPhone discounts and iPad margin improvements is expected to boost revenues in the fiscal third quarter. Offering discounts of up to $317 on select iPhone products in China is projected to narrow down iPhone sales decline by 3.1%.

5. Despite being slightly late to the AI trend, Apple’s stock is considered a bargain compared to peers like NVIDIA and Amazon in 2024. With a forward earnings multiple of 33.6X, compared to NVIDIA’s 43.5X and Amazon’s 40.7X, Apple presents a valuable investment opportunity for investors looking for a better value stock.



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