2023 Apple stock growth behind competitors, worst revenue decrease in 20 year

The last day of trade for 2023 is today. Despite AAPL's 54% annual rise, the company's performance is understood in the context of its peers and competition. 

Here's a look at Apple's revenue decreases to date and how things might improve in 2024.

An excellent overview of Apple's revenue and AAPL performance from the previous year was provided by Kif Leswing of CNBC. 

Although AAPL's 54% year-to-date return is twice as large as the S&P 500's, it doesn't appear as impressive when compared to the other major tech companies. 

Nvidia's stock rose 244% so far this year, Meta's rose 184%, Tesla's shares jumped 130%, and Amazon witnessed a 78% boost. Even Microsoft's stock outperformed AAPL throughout the past year, rising by 56%.

Although Apple's latest earnings results have exceeded Wall Street estimates in many cases, the company has experienced a fall in revenue for the last four quarters, which is the longest negative run in more than 20 years.

Although it did report higher profits in several of those quarters despite reduced revenue.

Investors have been more wary of Apple due to patterns including declining sales of the iPhone, iPad, and Mac.

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