Zacks’ Bull Stock of the Day is Apple (AAPL). The $2.4 trillion market cap firm’s Q321 results on July 27th shines a spotlight its profitability and growth, alongside the company’s commitment to buybacks and dividends.
AAPL’s recent report further cements the strength of its non-iPhone business. Despite trading near its new records, Apple’s valuation picture appears solid and it could be prepared to keep climbing since it has underperformed the broader tech space in 2021 and over the last 12 months.
Apple sells high-end consumer electronics that millions of people crave, pulling in $275 billion last year during a global pandemic. The company’s branding prowess remains nearly unmatched and its constant cycle of new phones and devices keeps people wanting more.
The company said on its January call with analysts that it reached over 1 billion active iPhones and 1.65 billion total active devices. AAPL didn’t provide specific numbers this time around, but they are likely higher and CFO Luca Maestri said in Q3 remarks that it reached a “new all-time high for our installed base of active devices.”
Wall Street remains extremely high on Apple, with 18 of the 24 brokerage recommendations Zacks has coming in at “Strong Buys,” with four more “Buys,” and none below a “Hold.” Still, some might opt to search for the next Apple.
Luckily, these are not mutually exclusive, and adding Apple to a well-diversified, long-term portfolio seems like a layup. And think of all the money someone with an extended horizon might have left on the table had they been worried about trying to time AAPL or buying Apple at its “peak.”
MacDailyNews Take:
Not sure what MDN’s take is – there are so many ads on this site >< “
Entire markets drowned in Red Sea today.
People are talking a good story https://apple.news/Aj-_mFVqST1utTDQ9sDEiUQ but the algos see it otherwise these days