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On the other hand, the tech-heavy Nasdaq-100 climbed only 25.9%.
Apples massive gains pushed its market value closer to an unprecedented $4 trillion milestone.
What Drove Apples Strong 2024 Performance?
JR Research noted that Apples current valuation, however, remains higher than that of its peers.
Applesforward EBITDA multipleis estimated at 27x around 70% higher than that of similar companies in the tech sector.
An elevated stock price can raise concerns about how much higher it can realistically climb.
However, this doesnt mean the stock will go up right away.
Pullbacks arent always temporary.
Investors who buy too early could face losses if the stock keeps dropping.
The high valuation remains a concern.
If Apple misses its earnings targets or if consumer demand slips, its stock might decrease sharply.
Another concern is that Apples attempts to find the next big thing havent always met with unqualified success.
If Apple overextends or invests in new ventures that flop, investors may lose patience.
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