Apple’s stock has gone up 20.9% in 2024. If you had invested in the tech giant at the beginning of the year, you would have enjoyed significant profits. However, we can only act on the information that we have available, and it’s not always easy to determine which stock will go up.
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While picking individual stocks can be stressful and risky for the average investor, there are times when it could make sense to invest in a company if you believe in its growth potential. This article will explore what would’ve happened to your money if you had invested in Apple stock over the 2023 holiday season.
How Much Would Your Apple Investment Be Worth Now?
Apple’s stock price was at the following price points around the holiday season of 2023.
On November 27, 2023, one share of Apple stock opened at $189.92, and the closing price was $189.79. The closing price of November 25, 2024 was $232.87.
If you purchased Apple stock during the day on November 27, 2023, at a price of $189.74, here’s how much money you would have on the evening of November 25, 2024:
- If you had invested $100, your investment would be worth $123.39.
- If you had invested $1,000, your investment would be worth $1,233.88.
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Is Apple a Good Investment in 2024?
Is it worth investing in Apple in 2024? Here are two key considerations before deciding to invest your money into this stock.
Apple Has Strong Financial Results
There’s no denying that Apple has built up a strong brand name with powerful revenue streams. Based on the most recent earnings report, Apple beat Wall Street’s estimates for revenue, which came in at $94.93 billion for the quarter. The company also reported, according to CNBC, that iPhone revenue went up 6% even though the newest iPhone 16 had only been out for about a week at the time. Apple executives also expected some sales growth during the December quarter despite fears of consumer spending habits changing due to stubborn inflation and higher interest rates.
These solid financial results from the most recent earnings report could be enough to help you make an informed decision. However, this leads us to the next point, which is more about individual preferences.
It Depends on Your Investing Goals
While Apple’s stock price has grown significantly in 2024, it’s worth pointing out that analysts currently have the one-year price target market at $244.48, which isn’t much higher than the current price. If you want to see your funds grow in the next year or so, you may want to look into growth stocks.
If you want reliable stock, you can never go wrong with allocating a portion of your portfolio to the iPhone maker. If you’re looking for a short-term investment for a quick profit, you may not want to start a position at Apple because higher interest rates can impact consumer spending over the holiday season, leading to lower earnings reports for the next quarter.
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This article originally appeared on GOBankingRates.com: If You Invested in Apple Stock Last Holiday Season, Here’s How Much It Would Be Worth in 2024
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
