Tech giant Apple (NASDAQ:AAPL) achieved double-digit growth across its product categories in its last reported quarter. So, given the growing optimism surrounding the company’s forthcoming launch of its iPhone 13 and its introduction of new iOS updates, is the stock worth betting on at its current price level? Let’s discuss.With a $2.46 trillion market capitalization (AAPL) is the world’s most valuable and most profitable technology company. The price of shares of the iPhone maker have soared 11.7% year-to-date and 16.4% over the past three months. This can be attributed primarily to the company’s record high services revenue in its last reported quarter and optimism surrounding the launch of its forthcoming iPhone 13.
As the company continues to make significant investments across all its business segments and launch powerful new generation products, it should witness solid growth in users and maintain a robust financial performance in the coming quarters. In addition, major updates to its iOS 15 to further protect user information and enhance their experience and its strategic launches should help it maintain strong sales momentum.
Closing yesterday’s session at $149.71, AAPL is trading just 1.3% below its 52-week high of $151.68.