AAPL - 3 Reasons to Buy and Hold Apple Stock Forever
2024-06-29 05:05:00 ET
Tech giant Apple (NASDAQ: AAPL) has been around a while and has delivered market-crushing returns over its long and storied history. However, some investors and analysts now feel it's no longer worth investing in the iPhone maker. The market cap now tops $3 trillion, which limits its upside potential, especially since Apple's biggest moneymaker -- the iPhone -- no longer generates the kind of year-over-year growth in sales that it once did.
While these are fair concerns, there remain solid reasons to buy Apple's shares and hold onto them for good. Let's consider three such reasons.
How does a company remain relevant for decades? It's generally not enough to offer necessary products or services. Even in industries such as healthcare, corporations need to innovate constantly to avoid becoming dinosaurs. That's also true -- and arguably more so -- in the tech industry where Apple operates. The company has stayed relevant and thriving for as long as it has largely because it's created a culture centered around innovation.
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3 Reasons to Buy and Hold Apple Stock Forever