I remember when Apple ( AAPL ) made its run all the way to $700 before the split. Then it sold off heavily and investors became increasingly worried. Where's the growth going to come from? What are they going to do with all that cash? Can Tim Cook hope to be as creative as Steve Jobs? Will it become the next Microsoft ( MSFT ) and offer a decade of no returns?
But leading up to the split and certainly after Apple stock has performed very well. So well that now we're right back to the levels we saw when Apple was THE stock to own. With the earnings announcement Apple has given us insight as to how and where it will grow.
Apple sold 35.2 million iPhones in the quarter ended June 28, up 12.7% from a year ago. Profit was $7.75 billion, up 12.3% year over year, EPS $1.28 from $1.07 and revenue was up 6%.
The real story, however, was revenue in China surging 28% where iPhone sales jumped 48% and Mac computer sales rose 39%.
Is Apple's growth in China enough to make you an investor or are you waiting for a new product launch?
I think that Apple and Tim Cook have proved again and again that this is a stock you should all have in your portfolio. The growth is astounding in China and Apple always seems to have an answer for skeptics.
Let me know what you think about Apple below.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.