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Commanding a mammoth market cap of close to $3 trillion, Apple (AAPL) is the most valuable company in the world - and its scale outpaces the gross domestic product (GDP) of countries like France and Germany, too. Apple has achieved this feat by building a dominant luxury tech brand over the years, driven by its industry-leading products such as the iPhone, Mac, AirPods, and iPad, which have helped define the cultural zeitgeist. Moreover, in recent years, this powerful ecosystem of products has developed Apple's Services business into an important source of revenue.
After a solid performance in 2023, the Cupertino-based tech giant - founded by Steve Jobs, and now led by Tim Cook - has started 2024 on a negative note. With less than two full trading days in the books, Apple stock is already down more than 4% on a year-to-date basis. With some experts warning of additional downside in store, should investors take their profits on AAPL and run - or is this latest dip a buying opportunity? Here's a closer look.
