2023 has been generous so far to investors. Both the Nasdaq Composite and S 500 have been buoyant, returning 34% and 18% respectively. While the tech sector has enjoyed outsize returns so far this year, one Warren Buffett stock sticks out among the rest. (NASDAQ: AAPL) stock is up 47% so far this year with its market capitalization recently eclipsing $3 trillion.

While that's all very impressive, investors should zoom out and take a look at the broader economic picture. Even though inflation is beginning to cool, consumers still face higher rates when compared to historical averages. Moreover, the Federal Reserve is continuing to raise interest rates, which has impacted consumer spending habits, especially in discretionary end markets.  

Apple's latest financial results may appear mixed on the surface. But as I often encourage readers to do, taking a long-term approach to your investment horizon may paint a different picture. Let's dig into the report and analyze the company's current state of affairs.

Continue reading

Source Fool.com