Bitcoin is Beating Apple Stock (APPL) Price in 2019
Tech mogul and one of the largest corporations in the world, Apple Inc., has so far had a great start to 2019. The company’s shares are up 27 percent since January 1st but are still measurably lower than Bitcoin’s price increase throughout the same period.
APPL Stock Rises in 2019
It’s safe to say that Apple is seeing a good year so far in 2019. Since January 1st, the company’s shares price has increased by around 27 percent, currently trading at $200.67 per share.
Most recently, Apple’s CEO has shared his take on the company’s results for Q2 of 2019. According to the executive, one of Apple’s core strengths throughout the quarter were its services as the revenue reached $11.5 billion, representing the “best quarter ever.”
Additionally, the popular iPad product has also seen a growth in its revenue which is up 22 percent from a year ago. Wearable devices have also surged with almost 50%.
It’s not all good news, however. Apple’s iPhone, which is perhaps the company’s flagship and most popular product, has seen a decrease in revenue with 17 percent compared to a year ago.
Since Cook shared this information, however, Apple’s stock has taken a slight beating, decreasing with about 2 percent on the day, at the time of this writing.
Bitcoin Betters Apple in 2019
Comparatively, the performance of Bitcoin’s price 00 throughout 2019 so far has been notably more impressive than this of Apple stock.
Year to date, Bitcoin is up 43 percent with the majority of the gains made throughout April’s rally.
What is more, the cryptocurrency has managed to retain those gains following the surge, which, according to cryptocurrency hedge funds manager BitBullCapital is a very positive sign that could lead to further increases throughout the year.
That’s also the position of the chief analyst at Fundstrat Global Advisors, Tom Lee, who has outlined that a number of fundamental and technical factors are improving, which can be a potential signal that the prolonged bear market is over.
Apple is not the only corporation the performance of which has been shadowed by Bitcoin’s price in 2019. Bitcoinist reported earlier in April that Bitcoin is also outperforming NASDAQ 100 (NDX), the S&P 500, Oil, Gold, and other commodities.
What do you think of Bitcoin’s price in 2019 and the fact that it’s outperforming shares of Apple Inc.? Don’t hesitate to let us know in the comments below!
Images courtesy of Shutterstock; TradingView.