From Nasdaq: 2024-11-07 07:20:00

Apple (NASDAQ: AAPL) stock has soared over 300% since 2022, driven by the success of the iPhone and app store. Despite stagnant revenue, investor optimism remains high due to Apple’s AI prospects. However, Shopify (NYSE: SHOP) offers more promising growth potential in the e-commerce sector.

While Apple remains a tech giant, its iPhone business has plateaued in sales and revenue since 2023. The reliance on iPhones poses a challenge for sustained growth, even with AI capabilities. In contrast, Shopify’s e-commerce platform has shown real growth, facilitating $67.2 billion in sales in the last quarter.

The e-commerce industry is evolving rapidly, with Shopify well-positioned to benefit from continued growth. As online shopping expands, Shopify’s tools cater to direct-to-consumer brands seeking independent online platforms. Market research predicts a 15% annual growth rate for e-commerce through 2034, highlighting Shopify’s potential for long-term success.

Investors are advised to consider Shopify’s growth potential over Apple’s current stagnation. Apple’s stock is considered overvalued, while Shopify’s shares, despite gains, remain below their peak. This presents an opportunity for investors to capitalize on Shopify’s underestimated growth prospects.

The Motley Fool’s Stock Advisor team does not recommend Apple as one of the top 10 stocks for investors. Instead, they identify opportunities for substantial returns in other companies. With a track record of outperforming the S&P 500, investors may find greater potential in other stocks than in Apple’s current market position.



Read more at Nasdaq: Should You Forget Apple? Why You Might Want to Buy This Unstoppable Growth Stock Instead.