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Apple Stock Could Be the Winner in 2020

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Apple (NASDAQ: AAPL) stock price is likely to shine again in fiscal 2020. Investors have been presenting several reasons to be bullish on AAPL shares since the company announced a new revenue expansion strategy.

The revenue diversification strategy has been working over the past two quarters. This is evident from the robust run in fiscal 2019. Apple stock price appreciated 65% since the beginning of 2019; the majority of share price appreciation occurred in the second half of the year.

The recent bullish trend was only due to the solid outcomes of revenue diversification strategies. In addition, the launch of Apple Plus contributed significantly to bullish sentiments.

AAPL Stock

Apple Stock is Set to Generate Substantial Growth in 2020

Apple shares had recently hit an all-time high of $268. However, analysts are expecting the largest tech giant to cross $300 level in the coming months. Indeed, some investors are expecting a 40% to 50% upside in APPL shares during fiscal 2020.

The substantial growth in non-iPhone revenue could be the biggest share price driver in the next year. It has generated 17% growth in non-iPhone revenue during the latest quarter. Wearable and services revenues reached a record level in the latest quarter. It services revenue hit $12.5 in the previous quarter.

Moreover, the company is likely to launch several OLED iPhone models next fall. The company is seeking to provide 5G iPhones. Qualcomm (NASDAQ: QCOM) President Cristiano Amon says launching Apple’s 5G iPhone “as fast as we can” is the top priority.

Strong Cash Returns and Positive Outlook is Adding to Sentiments

It returned close to $21 billion to shareholders through $3.5 billion in dividends and $18 billion in share repurchases in the previous quarter. It is likely to increase cash returns for investors in fiscal 2020; investors are expecting a double-digit dividend increase.

Its financial numbers and cash position offers a room for a dividend increase. The company expects to generate a first-quarter revenue of $89 billion. Overall, future fundamentals are backing Apple stock price.

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Based in Saudi Arabia, Siraj has a strong understanding of and passion for accounting and finance. He has worked for international clients for many years on several projects related to the stock market, equity research and other business, accounting and finance related projects. Siraj is a published financial analyst on the world's leading websites including SeekingAlpha, TheStreet, MSN, and others.