Apple (AAPL)
The world’s second-most valuable company, Apple is a veritable cash cow due largely to its blockbuster product the iPhone. Founder Steve Jobs’ decision to adopt a closed ecosystem in which Apple makes its own hardware and software has built a massive, cultish fan base that generates tens of billions in recurring revenue each quarter. Apple TV+, the company’s long-awaited streaming video service, is coming this fall for $9.99 a month. The tech giant returned $21 billion to shareholders last quarter through buybacks and dividends, and will keep funneling back cash going forward. Services revenue – Apple’s biggest source of margin improvement – grew 13% to an all-time high of $11.46 billion last quarter.
YTD return: 29%
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