What you need to know
- A new report looked into 734,000 portfolios to find trends.
- It discovered that AAPL is the most popular stock among millennials.
- Amazon and Tesla rounded out the top three.
Apple is the most popular stock among millennials looking to invest, according to a new report. Amazon finds itself in second spot, followed by Tesla. Facebook and Microsoft round out the top five places.
The report from Apex Clearing was picked up by TNW and highlights just how popular AAPL is among the 734,000 portfolios looked at.
Apex Clearing's recent analysis of 734,000 portfolios presents the top 100 most-popular stocks with US-based investors with an average age of 31.
As one would expect, FAANG is incredibly popular with the tech-savvy demographic. Facebook, Apple, Amazon, Netflix, and Google are all in the top 15 — Apple leads the pack with 13.5 percent of the average investor's holdings…
Apple has seen its stock value skyrocket in recent months and the even more recent announcement that 2019's holiday quarter was a record-maker won't hurt it, either. The company is also expected to have a big 2020 thanks to the arrival of 5G iPhones for the first time. Talk of a budget iPhone 9 won't go away either, with TNW noting that the balance between flagship models and those at the lower end of the price band has now been struck.
Apple now has an ever more affordable route into buying a brand-new (not older-generation) product, while at the same time offering ever more expensive options at the top end.
It's that dual-pronged approach that I think has proven so successful, and which explains Apple's record earnings.