Share prices of (NASDAQ: PYPL) are down 76% from all-time highs set in the summer of 2021. That stock price peak occurred about the time that the acceleration in mobile payments peaked as a result of the pandemic. Since then mobile payments remained popular, but growth slowed for PayPal. Analysts point to increased competition as a big reason why.
Block's Cash App is a popular alternative for consumers in recent years, but the biggest threat analysts are worried about now is (NASDAQ: AAPL). PayPal is still a leader with 435 million active accounts, but Apple Pay continues to gain adoption and just introduced an important new feature that could win over more users.
Let's review the threat from Apple and whether PayPal's stock is worth buying right now.
Source Fool.com