Bitcoin (BTC) Takes A Bite Out Of Apple (APPL) Stock As Traditional Finance And Crypto Emerge
Traditional Stocks And Crypto
Apple (APPL) stock has reached around $200 per share this year. In a note to Bank of America clients concerning its position on Apple, analyst Wamsi Mohan discussed Apple’s performance for the second quarter of 2019, one of its core strengths was its services revenue, which reached $11.5 billion. He stated,
“This was the best quarter ever for Services with Apple reporting strength from App Store, Apple Music, Apple Care, and Apple Pay.”
A recent Bitcoinist article compared bitcoin's price, stating “the performance of Bitcoin’s price throughout 2019 so far has been notably more impressive than this of Apple stock.”
There is a question as to whether one can compare cryptocurrency to stocks – after all, the comparison is like comparing apples and oranges. The real issue is whether users should invest in one or the other and of course, that’s a matter of preference based on one’s due diligence and research.