Should All Canadians Own Apple Stock? | The Motley Fool Canada

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Apple (NASDAQ:AAPL) stock remains a top bet for long-term investors, despite its multi-trillion-dollar market cap.
Apple (NASDAQ:AAPL) is currently the most valuable company in the world, trading at a market cap of $2.46 trillion. In the last two decades, AAPL stock has returned over 47,000% in dividend-adjusted returns to investors. It suggests an investment of $1,000 in Apple stock in September 2001 would be worth $470,000 today. Comparatively, the S&P 500 and TSX have returned just 473% and 367%, respectively, in this period.

While past returns don't matter much to current investors, let's see if this technology giant should be part of your portfolio right now.

Can Apple continue to fire on all cylinders?

Apple is one of the most popular consumer technology brands in the world. Some of the most iconic products it launched in the last 20 years include the iPhone, the Apple Watch, the iPad, and the iPod.

While Steve Jobs has been hailed as a visionary CEO by many, Apple has continued to make even greater strides under the leadership of Tim Cook. Apple stock was first valued at a market cap of a trillion dollars in October 2018 and has more than doubled its valuation in fewer than three years.

Investors might be worried about Apple's reliance on the iPhone that rakes in the majority of sales. In the first three…
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