AAPL Stock Up 10.03% Yesterday and Rises 2.53% Today, Apple Becomes $1T Company Again

Coinspeaker AAPL Stock Up 10.03% Yesterday and Rises 2.53% Today, Apple Becomes $1T Company AgainOn Tuesday, March 24, the U.S. stock markets recovered significantly after some fiscal stimulus measures the previous day. Smartphone giant Apple Inc (NASDAQ: APPL) also showed yesterday a solid 10% plus recovery with the company reclaiming its trillion-dollar valuations. On Tuesday closing, the Apple stock was trading at a price of $246 with a market cap of $1.08 trillion. Though today, AAPL was falling in the pre-market, when the market was opened, it started to gain. At the moment of writing, the stock is trading at $253.13 (+2.53%).In just over a month’s time, Apple lost nearly 31% of its valuations losing over $400 billion in market cap. All this comes amidst the wider market correction due to the coronavirus outbreak across the globe. Besides the stock price, the COVID-19 has also taken a toll on Apple’s supply chain.Now Apple has become a $1 trillion company again and returned to the club. Thanks to the growing value of AAPL, today the company’s market cap is $1.11 trillion.Since most of Apple’s manufacturing comes from China, Apple is likely to see a delayed delivery of its products. For the Q2 2019, Apple has already cut down its delivery projection by warning beforehand. Besides, looking at the huge global demand for Apple products, the company could take considerable time to get back on track.In just the first two months of 2020, Apple’s retails sales have plunged more than 20%. Besides, Apple is also witnessing a hammer blow on its European business which alone contributes to 24% of its revenue. Apple has already warned last month that it would miss revenue guidance for its second quarter.However, with over 31% correction, analysts have already started paying attention to the APPL stock. Many think that this is the right time for long-term investors to accumulate the stock.Few Reasons to Purchase Apple (AAPL) Stock TodayLast year, Apple’s iPhone business alone contributed to 55% of its revenue. Note that iPhone is Apple’s flagship product and the company remains committed to taking it further. In September 2019, Apple fueled its sales by launching three new iPhones in the market.Besides, Apple is also scheduled to launch some affordable iPhones ahead this year. These handsets will likely make an entry in India and other southeast Asian markets. Moreover, if things go well, we can see Apple launching 5G smartphones ahead this year. This could again get the Apple stock rising further.With solid balance sheets and profitability in the past, Apple is a cash-rich company. It has a total of $100 billion in net cash and $64 billion in free-flowing cash. Apple can possibly put this cash in use into other into its upcoming projects like media-streaming services and its other financial services projects. Last year, Apple registered a 17% growth in its services revenue.Apple’s wearables products like the AirPods and Apple Watch have done excellently in the markets. With such products, Apple has established itself as the leader in the global wearables market. In the wearables segment, Apple alone contributes about 36.5% of the market share. This category alone contributes around $21 billion of annual sales.During the first quarter earning’s call Apple CEO Tim Cook said that the company’s wearables revenue has grown 44% year-over-year.Well, with such strong fundamentals in place, Apple (AAPL) stock today is something you would certainly like to consider in your portfolio.AAPL Stock Up 10.03% Yesterday and Rises 2.53% Today, Apple Becomes $1T Company Again