Is Apple Stock Your Ticket to Becoming a Millionaire?

Core Viewpoint - Apple has generated significant wealth for investors over the past three decades, with a total return of 68,660% [1] - The company's future growth potential may not match its historical performance, raising questions about its ability to create new millionaires [2] Revenue Composition - Apple's revenue is heavily reliant on hardware, particularly the iPhone, which accounted for 47% of total revenue in Q3 of fiscal 2025 [5] - The services segment is growing, contributing $27.4 billion in revenue and 29% to total sales, with a year-over-year growth of 13.2% and a gross margin of 76% [6] Growth Prospects - The company is projected to grow revenue at a compound annual rate of 5.7% from fiscal 2024 to fiscal 2027, which is modest given its size and maturity [8] - Apple is developing new smart home devices powered by AI, but their impact on revenue is expected to be minimal [9][10] Company Quality - Apple is recognized for its strong brand presence, innovative history, and high profitability, which have attracted significant investments from firms like Berkshire Hathaway [11] - Despite its strengths, the stock may not deliver the same high returns as in the past, with a high price-to-earnings ratio of 35 and limited growth prospects [12]