Key Points
Apple Inc. (NASDAQ: AAPL) has over 1 billion active iPhones globally, providing a significant distribution advantage for its financial services, including Apple Pay and Apple Card. Launched in 2014, Apple Pay serves 89 markets and processes trillions in payments annually. The Apple Card, valued at $20 billion, was recently sold by Goldman Sachs to JPMorgan Chase, highlighting its appeal among financial institutions.
Despite its successful entry into financial services, Apple’s current stock is considered overvalued. Investors are advised to wait for a price drop before purchasing shares, as analysts have identified 10 better investment opportunities at this time.
