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Apple Inc. (NASDAQ:AAPL) designs, manufactures, and sells smartphones, computers, tablets, wearables, and accessories worldwide. It is the world’s largest company with a market capitalization of $3.51 trillion.
The company is scheduled to announce its fourth quarter 2024 earnings on October 31st. Wall Street analysts expect the tech giant’s EPS to be $1.60, up from $1.46 a year earlier. Quarterly revenue is expected to reach $94.41 billion, up from $89.5 billion a year ago, according to Benzinga Pro.
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If I had bought Apple stock 10 years ago
Ten years ago, the company’s stock traded at about $24.69 per share. If you had invested $10,000, you would have bought approximately 405 shares. The stock is currently trading at $231.30. That means the value of your investment could jump to $93,682 just from the increase in stock price. But Apple has also paid a consistent dividend over the past decade.
Apple’s dividend yield is currently 0.43%. Over the past 10 years, the company has paid approximately $19.13 in dividends per share. That means you can earn $7,748 in dividends alone.
Add up $93,682 and $7,748 for a final investment of $101,430. That’s what you would have earned if you invested $10,000 in Apple stock 10 years ago. This means the total return is 914.3%. In comparison, the S&P 500’s total return over the same period was 257.58%.
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What will the next 20 years bring?
The consensus rating for Apple, based on 30 analyst ratings, is Buy, with a price target of $243.34. The price target suggests a potential increase of 5% or more from the current stock price.
On Aug. 1, the company announced its third-quarter 2024 earnings, with Benzinga reporting EPS of $1.40 versus consensus estimates of $1.35 and revenue of $858 versus consensus $84.531 billion. It became a billion dollars.
The company set a new iPhone sales record during the quarter, coinciding with a broader recovery in the global smartphone market. Overall, the global smartphone market registered 5% year-on-year growth in Q3 2024, marking the fourth consecutive quarter of expansion.
Two reasons to jump into Apple stock now and one reason to think twice. For more information, see this article by Benzinga.
Investors focused on growth may find Apple stock attractive given its past price appreciation and expected upside potential. Additionally, you can benefit from the company’s modest 0.43% dividend yield and consistent increases. Apple has increased its dividend for the past 12 consecutive years.
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The article If you invested $10,000 in Apple stock 10 years ago, how much do you have now? originally appeared on Benzinga.com
