2 Billion Reasons to Buy Apple Stock in 2023 and Hold It Forever
Even the best companies in the world have detractors. Tech giant Apple (NASDAQ: AAPL) is no different. The bears can point to the fact that the iPhone no longer generates the same amount of buzz as it did in its early days, or they can point out that its manufacturing has become highly dependent on a sometimes volatile Chinese market.
These issues could present long-term headwinds, especially for a company already worth $2.4 trillion. Despite all that, Apple's investment thesis remains strong. In fact, there are 2 billion reasons why the company remains a solid buy this year. Here's the rundown.
Apple's December quarter, the first quarter of its fiscal year 2023, was perhaps disappointing. The company's revenue decreased by 5.5% year over year to $117.2 billion, while its earnings per share also declined to $1.88, about 10.5% lower than the year-ago period. Although these results are far from ideal, it's important to put things in context. The world faced difficult economic challenges last year, including near 40-year-high inflation.
Source Fool.com
