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Apple Inc. added nearly $1 trillion in market value this year. Such gains in 2024 will be harder to come by. As it looks to arrest four consecutive quarters of declining revenue, the world’s most valuable publicly traded company faces uncertainty in China, where government agencies are cracking down on…
The stocks 50% rally this year — driven by investor bets that the iPhone maker will continue to churn out big profits regardless of the health of the economy — has also left it in expensive territory. Its priced at 29 times profits projected over the next year, nearly double its 10-year average valuation.
Apple Inc. added nearly $1 trillion in market value this year, but investors say such gains in 2024 will be harder to come by.
Despite these hurdles, Apple's stock increased by 50% this year, primarily driven by investor faith in the company's ability to sustain high profits.
Apple Inc.: The stock’s 50% rally this year — driven by investor bets that the iPhone maker will continue to churn out big profits regardless of the health of the economy — has also left it in expensive territory. It’s priced at 29 times profits projected over the next year, nearly double its 10-year average valuation.