Why Apple Stock Gained 30% Last Year
Based on nothing more than the numbers, shares of consumer-technology titan (NASDAQ: AAPL) should have barely budged in 2024. The top line only improved to the tune of 2% for the fiscal year ending in September, while net income fell more than 3% year over year. Notably, sales of its breadwinning iPhone floundered as measured by revenue or by shipments of units, extending years' worth of lethargy.
Yet, there it is. Data from S&P Global Market Intelligence indicates Apple stock rallied 30% during the 12-month stretch ending in December, extending 2023's recovery from 2022's bear market lull. What gives?
In simplest terms, the company's setting the stage for a (very) bright future.
Source Fool.com
Apple Inc. Stock
€231.55
-0.960%
Our community is currently high on Apple Inc. with 108 Buy predictions and 12 Sell predictions.
As a result the target price of 234 € shows a slightly positive potential of 1.06% compared to the current price of 231.55 € for Apple Inc..
