Apple’s strong brand and global reach have led to the successful launch of financial services like Apple Pay and Apple Card. With over 1 billion active iPhones worldwide, the tech giant has a huge distribution advantage. However, the stock’s high valuation may give investors pause. Consider waiting for a pullback before investing. Instead, look at other companies in the fintech industry for potential opportunities. The Motley Fool’s Stock Advisor team has identified 10 stocks with better potential returns than Apple right now.
In 2019, Apple Card was launched and its $20 billion credit card portfolio was recently sold to JPMorgan Chase. Apple’s financial services offerings have been widely adopted, with Apple Pay available in 89 markets and handling trillions in annual payment volume. Cardholders also receive a savings account with a current yield of 3.65%. While Apple’s success in financial services is notable, its expensive valuation may deter some investors from buying the stock at this time. Consider other options within the fintech industry for potential investment opportunities.
Read more at Nasdaq: 1 “Magnificent Seven” Stock That’s a Clear Fintech Powerhouse
