3 Reasons to Buy Apple Stock in 2023
Like many tech companies, Apple (NASDAQ: AAPL) will be happy to see 2022 in its rearview mirror after a challenging year and a particularly ugly December, during which its stock price fell 12.4%. While year-over-year declines were primarily fueled by macroeconomic headwinds that affected the whole market, December saw investors grow uneasy over the company's dependence on China for manufacturing. A spike in COVID-19 cases in that country strained production at the factory that produces about 70% of all iPhones, a device that made up 52% of Apple's revenue in fiscal 2022.
Apple stock showed some recovery in January after production returned to 90% capacity, and the company has long-term plans in place to move manufacturing out of China entirely.
Despite recent roadblocks, Apple remains a reliable and resilient stock. The company's shares are still down 24% year over year, making now an excellent time to invest with an exciting year ahead.
Source Fool.com
