This Is the Simplest Reason to Buy Apple Stock Right Now
Shares of Apple (NASDAQ: AAPL) have beaten the broader stock market handsomely over the past decade, gaining 653% thanks to the stupendous success of the company's various product lines and the growth of its services business.
The iPhone, however, has been the cornerstone of Apple's terrific growth. The company sold nearly $192 billion worth of iPhones in fiscal 2021, which was 53% of its total sales. What's more, Apple's iPhone revenue increased by 39% last fiscal year and outpaced its overall revenue growth of 33%. The company has been benefiting big time from the growing adoption of 5G smartphones, recording solid growth in volumes and average prices -- a trend that's here to stay, and should help Apple sustain its terrific growth.
Let's see why that may be the case.
Source Fool.com
