Apple Inc. (NASDAQ: AAPL) is a multinational technology company headquartered in Cupertino, California, that makes computer software, consumer electronics, and online services. The company is known for its popular iPhone, iPad, and Macintosh computers. In recent years, the company has expanded its product offerings, including the new Apple Watch.
Apple has built a strong brand and loyal customer base, which has helped drive the company’s stock price. Its product pipeline is strong, and it is likely that consumers will continue to purchase its products, especially its iPhone. The company’s growth rate could slow down if the economy slows, but it is likely to bounce back once economic conditions improve.
Apple has outperformed the Nasdaq 100 and other tech gauges this year. Despite the looming threat of recession, Apple has managed to keep its market value relatively steady. Its share price has risen over the past three years and is up more than 20% from its IPO in June 2012. The company has made great strides in revenue growth and has outperformed its competitors, including Google and Amazon.
As an investment, Apple is a great choice for investors who seek out growth. It is trading at a PE of just over twenty-three times earnings in 2023. That’s significantly higher than the long-term average and over 50% higher than its peer groups. Apple has a large 1.3 billion subscriber base and is profitable.