The first factor to consider when purchasing company stock, besides personal preference, is the company itself and its market value. Apple is perhaps one of the companies with astonishing success statistics. Some of these include:

• Apple is wealthier than the entire US government in terms of cash.
• In 2022, Apple reached an amazing $3 trillion market value.
• The Americas contribute at least 45% of Apple's income.
• Over 1.8 billion iPhones are being used worldwide.

With these facts in mind, it is no surprise that Apple stock (AAPL) is a good investment option.

A Brief History of Apple

Apple is a high-end technology company that deals with phones (iPhones), PCs (MacBook Air, MacBook Pro, iMac), and television sets (Apple TV). Apple's headquarters are in Cupertino, California. It was formed on April 1, 1976, by Steve Jobs and his co-founder Steve Wozniak. In 2007, Steve Jobs announced that Apple Computer, Inc., as it was known until then, would be changed to Apple, Inc. to focus production on mobile devices. Apple is known majorly for its signature iPhones, which run on iOS, short for iPhone Operating System.

Current Stats

As of August 23, 2022, the average price for an Apple stock is $167.54, with a volume of about 26 million. Here is how the other big US corporations are doing as of the same date:

Why do you need brokers to purchase AAPL?

Unfortunately, it is impossible to buy Apple's stock directly from AAPL. This is why you will need the services of an online broker.

Factors to consider when purchasing AAPL

Personal Preference

Whether an Android or an iPhone fan, the choice is similar to choosing between oranges and apples, no pun intended. Both are fruits and have different tastes. Similarly, Android users may enjoy benefits that Apple users cannot fully enjoy and vice versa. Not to further taint the clarity of this comparison, but comparing the two phones is like comparing a manual and an automatic vehicle. Some prefer the former, while others cannot drive anything that's not the latter.

Market Value

Apple is the world's largest company by market capitalization. It commands the second-biggest mobile phone manufacturer after Samsung.

Broker Options

The first obvious thing to consider is whether your broker has access to the NASDAQ stock market (National Association of Securities Dealers Automated Quotations). It is the main exchange that trades AAPL. NASDAQ trades from 9:30 a.m. to 4:00 p.m. daily, except on weekends.

Your Budget

This is a very important factor when deciding what stock to buy. To begin with, the money you leave out for saving and investing should be enough to buy you a sizeable amount of Apple stock. Some people use the dollar-cost averaging investment method, whereby they set a certain fixed percentage of their income and direct it to invest in stock. So every month, whether AAPL will do well or not, a fixed percentage of the individual's income will go into purchasing more stock.

Risk tolerance

Apple has been experiencing price volatility in the past. Therefore, investing in its stock would be best for individuals who do not have a low-risk tolerance. Also, by the simple characteristic of being in the tech industry, its stock prices are more vulnerable to price changes. Before purchasing AAPL, have your broker or financial advisor review Apple's most recent Form 10-K and 10-Q.

Other Investments

Considering how your AAPL stock would work with your current investments would be best. If you own other stocks in the technology category, it would be best to understand the risks involved and prepare for them. One is always advised to diversify their investment portfolio to avoid putting all one's eggs in one basket.

Steps to buying Apple Stock (AAPL)

Finding your (online) broker

Once you find an affordable broker who sells on NASDAQ, you are good to go. Since this is the initial step, take time and consult widely to avoid losing money. Once you have found the right broker, it is now time to open the account that will be used for the transactions. This brokerage account will be used to store your AAPL stock. It is as straightforward as opening any other online bank account.

The next step is to load your account with money that will be used to purchase this stock. You can do this by credit, debit cards, or bank transfer.

Purchasing AAPL

You can now click 'Buy' on your online brokerage company's website, and select the number of shares you want.

Monitoring AAPL

Like other investments, you should monitor the performance of AAPL from the news, social media, and other media tools. Even after purchasing stock, it is important to do due diligence. Attend seminars and webinars that discuss AAPL or Apple's latest trends. Be active in your investment's life.

You can also use stock tracking apps to monitor your stock's performance.

So, should you purchase Apple Stock? We’ll let you decide.