Apple stock opened at $134.35 on Dec. 22, which means that stock is currently down about 27% for the year as many major companies have seen shares drop due to macroeconomic factors. Apple’s stock has a 52-week high of $182.94 and a low of $129.04, with analysts expecting it to hit $176.45 within a year. Nvidia has exposure to high-growth themes like autonomous vehicles, gaming, metaverse, and blockchain. It has been growing much faster than its peers and markets rewarded it with premium valuations. Nvidia is also an innovation leader, which makes it a worthy contender to become the next Apple stock.
In a clear sign of the times, even the largest company in the world has seen its shares drop by over 25% during a challenging year for the stock market. We will continue to monitor how the situation plays out with Apple as the company faces the same macroeconomic headwinds that every other major global player has to deal with. Tesla is a play on both green energy and tech, given its software capabilities. Given its exposure to high-growth industries like EVs, solar energy, energy storage, and autonomous driving, Tesla is possibly the best placed to become the next Apple stock. The Brazil-based payment processing company provides a cloud-based technology platform to assist businesses with their electronic commerce needs. With Elon Musk at the helm of affairs, Tesla could be a worthy competitor to snatch the top slot from Apple.
And it continues an impressive track record of this tech behemoth outpacing the broader market. As we head into 2023, there are a few key things that we’ll be paying attention to that could possibly significantly impact the stock price for Apple. Nvidia is another stock that has the potential https://www.currency-trading.org/ to become the next Apple. While Nvidia stock has come off its 52-week highs and lost the title of the world’s most valuable semiconductor company, one can never write it off. The stock has delivered CAGR returns of 47 percent over the last 10 years, which looks astonishing.
- Metaverse is another emerging industry but it’s still in the nascent stages.
- Apple’s stock has a 52-week high of $182.94 and a low of $129.04, with analysts expecting it to hit $176.45 within a year.
- Supply chain issues and soaring inflation have both continued to hurt many companies as consumers are nervous about a possible recession in 2023.
- The next obvious product is the updated version of the popular handset product.
- In the last few quarters, the e-commerce stock has been dealing with a much more challenging environment than it faced in the height of the pandemic.
The company has since stepped back, with Zuckerberg signaling that the business would put more focus back on its advertising business, which actually makes money. This website is using a security service to protect itself from online attacks. There are several actions that could trigger this block including submitting a certain word or phrase, a SQL command or malformed data. Neil Patel and his clients have no positions in any of the stocks mentioned. In order to become one of the world’s most valuable corporations, it’s not surprising that a business has to be kind to its shareholders.
These three companies that could be the next Apple stock.
Add Shopify to the list of high-growth stocks that have fallen back to Earth over the last two years, with shares now sitting about 60% off their highs. It’s no surprise that when companies dominate their industries, their stock prices tend to have long-term https://www.topforexnews.org/ success. Astute readers will quickly realize that there’s another part of the Apple empire that is quickly ascending to become more important. I’m talking about services and subscriptions, including services like iCloud, Pay, Card, TV+, Fitness+, and Music.
Overall, it looks unlikely that a Chinese company will become the next Apple, at least over the next few years. However, after China’s tech crackdown, investors have been wary of Chinese companies. Also, countries around the world have been concerned about the massive data that Chinese companies have about their citizens. Just like new Apple products, new Tesla cars also attract a lot of interest from buyers. Both Apple and Tesla offer premium products, a strong brand, and attractive value proposition, which helps them command higher margins than their peers.
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Even though Apple brings in most of its revenue from selling its popular products, the services business segment has been growing lately. For the fiscal year 2022, which ended on Sept. 24, 2022, Apple reported that revenue from services reached $78 billion, which is an increase of 14% year over year. It’s also expected that the company will increase its revenue from services if certain new offerings are added next year. New augmented reality technology would come with additional service options for customers that would generate additional revenue. Supply chain issues and soaring inflation have both continued to hurt many companies as consumers are nervous about a possible recession in 2023.
But the underlying business fundamentals of the company remain strong, presenting investors with what might be an attractive entry point. If Apple was staring at a significant growth opportunity in the years ahead, that valuation might make sense. Consensus analyst estimates call for revenue to rise at an annualized clip of 4% between fiscal 2023 and fiscal 2026.
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The next earnings report from Apple won’t be coming out until sometime in late January. Before we look at Apple stock predictions and what’s next for the company, we have to address the present-day situation by looking at their recent financial performance. Apple was able to beat Wall Street’s targets when they announced the financial results for the fiscal fourth quarter of 2022 late on Oct. 27. Apple stock jumped about 7.6% during the next trading session the following day based on these positive financial results.
The stock is a huge winner, likely making many millionaires over the years. After taking a big hit to its multiple at the end of 2021 and the beginning of 2022, Nvidia’s stock went on a tear https://www.investorynews.com/ and powered its way to a new all-time high, even briefly cracking the trillion-dollar barrier. The last few years have been a real roller coaster for the company formerly known as Facebook.
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The company also produces chip sets that power everything from robotics to self-driving cars. As all of these AI-adjacent industries are hot growth areas, Nvidia seems likely to continue at its torrid pace. In the last few quarters, the e-commerce stock has been dealing with a much more challenging environment than it faced in the height of the pandemic. Under these circumstances, growth has slowed, and Shopify has had to take measures to cut costs. As the company’s name change suggests, it has been moving deeper into blockchain applications, and it also moved into the “buy now, pay later” segment of fintech. If the company can get all of its ducks in a row, it could end up being the dominant player in the industry.
In addition to its popular e-commerce site Shopee, the company also draws revenue from its mobile game publisher Garena and its payment processing platform Sea Money. While still a small part of the business, services have greater growth potential than hardware. And they are far more profitable, carrying a stellar gross margin of 73%. Since March 1, 2021, Apple (AAPL -0.59%) shares have climbed almost 50%. That gain is more than double the increase in the Nasdaq Composite Index over the same period.
And the fact that newer devices have fewer game-changing updates makes it easy to delay buying the latest product introduction. It came out that mass shipments of this headset have been delayed until the second part of 2023 due to undisclosed software-related issues. Many analysts believe that this mixed-reality headset would be the precursor to the mass marketing of smart glasses. Apple hasn’t created a new major product category since they introduced the Apple Watch back in April 2015. This is why Apple’s rumored mixed-reality headset has been discussed, as there are whispers that this could be hitting the market in late 2023. It has been reported that this headset would have a mix of augmented reality and virtual reality that would allow users to become immersed in the all-digital environment for movies and gaming.
