Consumer electronics titan Apple (NASDAQ: AAPL) isn't considered a dividend stock by most; its association with the other FAANG stocks makes it look like a growth stock. But Apple has steadily evolved from a millionaire-making high flier to a cash cow overflowing with profits.

Here is why dividend investors can buy Apple stock today and enjoy passive income for potentially decades to come.

Apple's growth stock label comes from decades of producing life-changing returns for investors. The stock returned a staggering 2,530% from 1990 to 2010 and another 1,960% from 2010 to today.

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Source Fool.com