Where & How to Buy Apple (AAPL) Stock in November 2024

Those who took the decision to buy Apple stock in the firm’s early days will have been handsomely rewarded by now. Founded by college dropouts Steve Jobs and Mike Wozniak in 1976, the Silicon Valley giant has cemented itself as a stubborn force in the tech world, having become the world’s first organization to pass the $3tr valuation milestone in 2022.

But while Apple is clearly no longer a candidate for a bullish bet on a fledgling underdog, its best days may still be yet to come. Besides the consumer tech products it has become synonymous with, Apple is becoming a major player in the realms of cloud solutions, streaming platforms and virtual reality, and even plans to enter the booming electric vehicle industry in years to come.

In this guide, we will determine whether Apple is still a good buy today, in addition to addressing where and how to buy Apple stock in 2024 with zero commission.

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Apple (AAPL) stock data November 2024

What is Apple?

The world’s largest company with a market capitalization of close to $3tr, Apple is the undisputed champion of the global technology hardware market, having pioneered iconic, generation-defining products such as the Macintosh computer, the iPad, iPod, iPhone, Apple Watch, and more.

Many believe this relentless success will see a new chapter in 2024 upon the release of the firm’s highly anticipated Apple Vision Pro – a $3,500 headset capable of both virtual and augmented reality, designed for both professional and casual use.

Beyond this, the the firm boasts a huge array of applications, services and software, and is even being rumored to enter the automotive market at some stage in the future.

This consistent innovation and market dominance has translated into exceptionally strong market performance. Despite being founded in 1976, the firm’s stock price has increased by a further 40% in the past year.

Apple (AAPL) stock price 2024

Apple stock has enjoyed an impressive 2023, up 45% since the turn of the year, and hitting a record high at $195.38 on June 25th.

This is despite tough economic conditions and four consecutive quarters of revenue loss, with Mac and iPad income falling 34% and 10% year on year respectively. iPhone sales saw an uptick of less than 3%, allowing Apple to narrowly avoid a year of decline across its entire hardware suite.

But Apple’s ‘services’ business line (including Apple Music, Apple TV+ and Apple Store purchases) proved particularly lucrative throughout 2023, earning a record high of $85.2bn and 7.1% of annual growth (up from $78.8bn). The growth of Apple’s services is now outpacing both iPhone and company-wide growth.

Overall, Apple’s net profit fell nearly 3% from $99.8bn in 2022 to $97bn in 2023, while Q4 earnings also saw a downturn, dropping 1% from the previous quarter.

Apple’s Q4 earnings call on November 2 saw the firm’s share price drop from $176.08 to $175.17 the following day, with Wall Street analysts expecting 6% revenue growth in FY24. Apple stock currently has a market cap of 2.93 trillion, making it one of the biggest tech companies in the world.

But regardless of this underwhelming growth, Apple stock arguably still comes at a premium, making it a questionable buy for retail investors.

Is Apple (AAPL) a good investment in 2024?

Despite a period of relatively slow growth post-pandemic, Apple remains the world’s largest company by market capitalization ($2.976tr), and surely the most influential player in the consumer tech industry.

2023 statistics show that there are more than 1.46bn active iPhone users worldwide, while Apple Mac has a rapidly growing command of the computer market share (around one fifth).

But, being one of the great forces of commerce in the modern age, Apple has extended its influence to a number of key markets – most notably, a growing presence in the audio (headphones and speakers), wearables, streaming and cloud solutions markets.

With these being increasingly pivotal areas in the modern consumer tech landscape, prospective investors should be encouraged by Apple’s growing dominance in these spaces.

Additionally, Apple looks poised to become a major player in the virtual reality market, with the Apple Vision Pro slated for release in 2024. Talk of Apple’s entry into the electric vehicle market has also gathered pace in recent years, with a release currently projected for 2026.

And crucially, Apple’s slowed revenue growth is mitigate by its consistently impressive growth margins, which hit record levels in September 2023 at 44.1%. These figures mean that Apple remains comfortably the world’s most profitable company.

But there is still room for concern when it comes to Apple’s stagnated growth, with smartphone competitors such as Google and gaining market share in 2023.

It would also be remiss of investors to turn a blind eye to the ongoing antitrust lawsuits against Apple in both the US and Europe. In both cases, Apple stands accused of manipulating its app store for the purposes of forcing a 100% monopoly on tap-and-pay wallets. According to the complaints, Apple “coerces” people who use its devices into using its own wallet for transactions.

While Apple’s market dominance and expansion into diverse sectors offer promising investment indicators, concerns linger over stagnant growth and increased competition. The imminent foray into virtual reality and electric vehicles signals innovation, but ongoing antitrust lawsuits pose risks. Investors should carefully weigh these factors, recognizing both potential rewards and challenges before deciding on Apple stock.

Where to Invest in Apple stock in 2024

eToro is a popular choice for buying tech stocks such as Apple. Features such as fractional share trading, low minimum deposits, and a user-friendly interface make it an accessible platform for beginners.

Other popular choices include Robinhood, Webull and Charles Schwab.

1. eToro – Best platform to purchase Apple shares in 2024

eToro is considered to be one of the most suitable platforms for buying Apple Stock because it supports fractional investing which means that you can buy APPL for $10. This allows investors with a low budget to gain exposure to the tech company.

Furthermore, eToro offers a range of ready-made Smart Portfolios that include APPL shares. These portfolios are a good way to invest in a diverse basket of shares that have been hand-picked by experts. The platform provides insight into each portfolio so that investors can make a choice based on their risk appetite, performance history, and the weight of Apple in each portfolio.

eToro is a social trading platform which means that users can gain insight into APPL stock from experts and other traders. When you view the APPL stock on eToro, you will be able to view recent posts, updates, and investing decisions that have been made by other users. This is a good way to understand the current market sentiment around Apple stock.

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Note: Only cryptocurrencies eToro customers in the United States will be able to trade on the platform will be Bitcoin, Bitcoin Cash, and Ethereum.

2. Robinhood – Invest in Apple from your phone

Robinhood is the ideal brokerage for investors who are looking to manage their Apple trades from their phones. The broker offers an excellent mobile app that is ea

sy to navigate and provides all the tools that you need to manage your portfolio from anywhere.

Furthermore, it is possible to buy APPL from $1 through Robinhood. This is appealing to new investors who want to start with a small portfolio and gradually build over time. Robinhood also supports zero commissions for buying Apple shares, making it one of the most low-cost options.

As well as traditional stock trading, it is possible to trade APPL options through Robinhood. Options trading is a high-risk trading strategy for active traders with experience.

3. Charles Schwab – Access a range of educational resources and market insight before buying APPL

Charles Schwab is one of the most well-known US brokerages that offer stocks, ETFs, bonds, options, margin trading, and more. Investors can buy Apple shares or invest in Apple ETFs through the platform, to diversify their portfolio.

The broker is not a zero-fee platform. Instead, investors pay a fixed $0.65 fee per contract. This makes Charles Schwab most suitable for long-term investors.

One of the most appealing features of Charles Schwab is the range of educational resources and market insight that is available to investors. The platform simplifies the process of understanding the markets and researching APPL stock before making any investment decisions. Amongst the resources available include webinars, news, expert insight and live market data.

4. Webull – The best Apple trading platform for day trading

So far, we’ve taken a look at online brokerages that are suitable for long-term investing. Webull is an alternative platform that is ideal for day trading Apple in 2024. The platform has its own charting tools and can also be connected to the popular MetaTrader4 platform.

Traders can access a variety of indicators, price charts, APIs, and signals using the Webull platform. This makes it possible to implement more advanced trading strategies that are sometimes preferred by experienced traders.

To assist with developing a robust day trading strategy, Webull offers a demo trading account. This is a good way to practice trading Apple without putting any real money at risk.

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How To Invest in Apple With eToro

In the next section, we will take an in-depth look at how to buy Apple stock from our recommended broker, eToro. We have chosen to use eToro in this example because the platform caters to a variety of investment strategies and is free to sign up to.

Step 1: Complete the registration form

To create an eToro brokerage account, you will need to sign up with your personal information. This includes providing your email address, phone number, and residential address.

Once you have filled out the registration form, you will be required to provide proof of ID. This entails taking photos of two ID documents and uploading them to the system.

The verification can take up to 48 hours to complete. During this time, you will be able to access the eToro platform but you won’t be able to withdraw any funds.

Step 2: Research APPL stock

Before you invest in Apple, it is a good idea to spend time conducting research and analysis.

You can find Apple stock analysis on eToro by searching for the Apple ticker symbol, APPL. Here, you will be able to view past performance, technical analysis, market news, and much more.

You could also use eToro’s social trading feed to understand investor sentiment and learn what other investors are doing with Apple stock.

Step 3: Deposit funds

Once you have researched Apple stock, as well as Apple stock funds, the next step is to deposit money into your eToro trading account.

eToro accepts payments with debit cards and bank transfers. The minimum deposit amount for individual stocks is $20 and for ETFs or indices, it is $50.

Step 4: Place a market order

Once you have deposited funds into your account, open a trade by searching for the ticker and selecting the Apple stock that you would like to buy.

Then, click ‘trade’.

Here, you will be able to customize the trade to fit your investment strategy. Double-check each of the parameters before confirming the order. Apple stocks will appear in your portfolio within minutes.

{etoroCFDrisk} % of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.

Our Verdict on Apple (AAPL) Stock in 2024

Purchasing Apple stock in 2024 warrants a careful evaluation of both its storied history and its evolving position in the dynamic tech landscape.

Despite facing diminishing hardware revenues, Apple’s strategic forays into burgeoning markets like streaming, cloud solutions, and virtual reality present compelling opportunities. The company’s impressive growth margins and profitability also underscore its resilience in a competitive market.

However, concerns linger over stagnant growth, heightened competition, and ongoing antitrust lawsuits, in addition to the stock’s premium price tag. As investors weigh up the decision to buy Apple stock, a balanced assessment of potential rewards and risks is crucial.

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