How to Buy Apple Stock – Yes, It IS Possible
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Who hasn’t heard about Apple and its amazing range of products? One of the top companies in the world, Apple Inc. has made a huge impact with its technological innovations and unique solutions. It is estimated that at least two-thirds of Americans have one Apple product. The company attracts thousands of customers and investors with each new product launch and highly anticipated Apple event.
Apple stock has consistently gone up over the years. It hasn’t had a wild ride like many other stocks but has won the market slowly and steadily. Since its debut on the stock market in December 1980, Apple stock hit its highest price of $199 in December 2023. As of May 7, 2024, Apple’s stock stood at $181.71. Do you want to get your hands on this blue-chip stock? Here’s how you can do it.
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Step 1: Finding a broker that offers Apple Stock
Apple is a publicly traded company, and its stock is available to anyone willing to purchase equity. Out of all the different ways of buying Apple stock, the easiest and the cheapest is to go through a brokerage account. Various brokers in the industry offer the services, but each has account minimums, commissions, and certain stocks they can sell. You can check out the different online brokerage platforms that enable the purchase and sale of stocks from your device. Consider all the options before investing. Some brokerages also allow the purchase of fractional shares, so if you do not have enough funds on hand, do not worry. You can buy a part of the share. Here are some online platforms worth considering.
Related: Best Brokerages for Beginners
Stash
An intuitive platform, Stash lets you buy whole or fractional shares of stocks, bonds, and ETFs. You can fund and buy in increments of $10, $50, or $100.
Two plans are available. At $9 per month, the highest level gives you two custodial accounts to invest for your kids. The lowest monthly fee is just $3. Both levels provide a debit card account and a life insurance policy.
Pros and cons
Pros
- Offers fractional shares
- Retirement and custodial accounts
- Streamlined, easy-to-use interface
- Low minimum investment
- Automatic investing
Cons
- Not free; monthly fees start at $3
- No automatic rebalancing
- EFTs have a high expense ratio
Charles Schwab
Charles Schwab has an easy-to-use interface and offers advanced investor options. It provides investing and trading services for millions of accounts and various trading options, including common stock, preferred stocks, ETFs, mutual funds, bonds, money market accounts, and options.
It has educational resources, which help make the right buying decisions. You can go through market news, how-to guides, and in-depth articles to get insights into the stock market. There are two mobile apps for users. One is a basic app that allows you to trade and explore its resources. The other app includes all the basics and the option to participate in live text and screen sharing with experts in the industry. It also gives access to multi-leg options, forex, stocks, 24/5 trading, and futures. If you do not want to invest yourself and want investment advice, you can opt for broker-assisted services at $25. You can also have a margin trading account for $2,000.
There is no minimum opening deposit or commission fees on online stock, ETF trades, or options. Charles Schwab also offers fractional shares.
Pros and cons
Pros
- User-friendly investing platform
- Access to mobile apps
- No minimum account balances
- No monthly fees
- Access to Charles Schwab's resources
- Fractional shares sold
Cons
- There is no goal-based investment strategy
- High margin rates
Robinhood
Robinhood is an ideal app for beginners. It is a free trading platform with no fees for opening an account. When you sign up, you're defaulted to the Robinhood Instant account, which gives you access to instant deposits of up to $1,000 and extended-hours trading. You can also opt for a Robinhood cash account with $0 commission trades, but there are no instant settlements or deposits.
You can also upgrade to paid services for only $5 a month. This will upgrade you to the Robinhood Gold account, which includes instant deposits that start at $5,000 and increase according to your portfolio value. Through Robinhood Gold, borrowing money from Robinhood to purchase stocks is possible.
It charges three types of fees: a trading activity fee charged for more than 50 shares purchased, a regulatory transaction fee paid to the SEC but not charged for values less than $500, and an American depository receipt fee charged when trading on American exchanges.
You can also purchase fractional shares on Robinhood. So, if you think Apple stock is priced too high, you can buy a part of the stock. No minimum amount is required to sign up, and there is no monthly fee.
Pros and cons
Pros
- User-friendly investing platform
- Fractional shares are sold
- No minimum account balances
- No monthly fees
- Options investing with an Instant or Gold account
Cons
- There is no goal-based investment strategy
- A limited number of investment products are available
Reasons To Use Stash For Investing
- Get $5 to Make Your First Investment
- Invest in Stocks and ETFs with $1 or Less
- Receive Your Paycheck up to 2 Days Faster
- No Overdraft Fees or Minimum Balances
Step 2: Research Apple shares
Apple is a technology company founded in 1976 in Cupertino, California. It was founded by Steve Jobs, Ronald Wayne, and Steve Wozniak to build and sell Wozniak’s Apple I personal computer. In 1977, Apple Inc. was incorporated.
The company designs, develops, and sells personal computer software, consumer electronics, and online services. It is one of the top companies in the IT sector and stands alongside Microsoft, Google, Amazon, and Facebook. It offers top consumer products, including the Mac, iPhone, iPad, iPod, and Apple Watch. It also enabled Apple Pay, which can be used to make secure purchases in the app store and web.
Today, the company sells products worldwide and generates billions in revenue. It is constantly innovating and reportedly working on an electric car project. It remains one of the most popular companies in the IT sector.
Apple Inc. is listed on NASDAQ under the ticker symbol AAPL. It made its debut as a public company on December 12, 1980. The IPO price was $22 per share and sold 4.6 million shares. The stock fell in the 1990s but rose again in 2000 with the computer boom. The concern about Jobs’ health also pulled the stock down. It soon reclaimed its growth and hit new highs. It hit an all-time high of $702 in 2012, and the company did a 7-to-1 stock split in 2014.
Apple price history
The best way to make money through stock investment is to subscribe to an IPO, and Apple is no exception. With time, the company has grown by leaps and bounds, and the share that debuted at $22 is now changing hands at $181.71. If you had invested $1,000 in Apple in the IPO, you would have received 45 shares, and today, it would be worth several shares and dollars considering the stock split.
Apple stock has split five times since the 1987, 2000, 2005, 2014, and 2020 IPO.
Apple dividend information
Apple has consistently paid cash dividends over the years. It is considered a dividend aristocrat and is the first choice of investors looking for dividend stocks. It paid the first dividend in 2012 and has consistently paid till today. It enjoys a dividend yield of 0.54% and announced a 4% dividend hike this quarter to take the annualized dividend to $1. The CEO recently stated that the company plans for annual dividend increases. Further, the company has announced a $110 billion buyback program, the biggest stock buyback in history.
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Best features of Apple stock
Many investors did not have the chance to buy Apple stock in the IPO or during the company's initial years. However, you can still buy it. Apple is the first publicly traded company to hit the $1 trillion market value mark.
What makes the stock appealing is the stock splits and dividends. Even if you buy small, you can gain big long-term. Besides the regular dividend payment, the company also offers stock splits, which could increase your holding in the company without investing any money. Although there is no guarantee of a stock split, it has happened five times, so there is hope. The stock split has also made it less expensive for investors to own the shares. The company's valuation is high and enjoys a market capitalization of $2.8 trillion, making it one of the most valued in the tech industry.
Apple has an impressive product line that makes it appealing to all investors. The company reported quarterly revenue of $90.8 billion in the second quarter.
Apple hosts product launches each year that are met with high consumer enthusiasm. There is a huge demand for its products, and even though they are higher priced than the competitors, consumers are willing to pay for them. As we adopt technology in our daily lives and learn to work, shop, learn, and entertain from home, the demand for electronics is increasing. Apple will continue to see a surge in sales and revenues. The company’s reputation in the market is strong, which will boost the stock price in the future.
Related: How to Buy Tesla Stock – Pay No Fees
Step 3: Open an account & buy Apple shares
If you want to own Apple shares, it is time to open an online brokerage account and get started with your investment. I'll use Robinhood to show you how. It has a simple and hassle-free procedure; you can open an account without depositing any money.
Once you have decided on the amount of money you want to invest and the stocks you want to buy, head to the Robinhood website. On the homepage, you will see the resources and details about the products. You can learn more about the products you are keen on investing in.
To proceed, click on “Sign up.”
You will be taken to a page where you need to provide your legal name, email, and password. Click on Continue, and you will be asked for personal details like date of birth, citizenship, and social security number. Next, you will have to provide details about your experience as an investor.
Then, you need to provide your employment information. After you provide the occupation and name of the employer, you will be asked if you or a family member are a 10% shareholder of a publicly traded company. This question is only to prevent insider trading. Additionally, you will have to answer if you or any family member works for another brokerage.
Once this is done, you apply and set up the funding for your account. You can link your bank account and fund it immediately or choose to do it later. The process is quick and straightforward. You can only start trading after you have funded the account.
After zeroing in on one of the best brokers to open an account with, you must understand the order types. You can purchase shares of Apple through a market order or a limit order. In a market order, you buy the shares at the current price; in a limit order, you specify the rate you are willing to buy the shares. The trading platform will execute the order accordingly.
FAQs
How much were Apple shares when the company first went public?
Apple stock was priced at $22 when it first went public in 1980 through an IPO.
How much does it cost to buy Apple shares today?
As of closing on May 7, 2024, Apple’s stock stood at $181.71.
What is the minimum number of Apple shares that I can buy?
You can purchase one share or a fractional share if you use the right brokerage.
The bottom line
If you want to dip your toe in the stock market and buy Apple stock, you must assess your financial situation and proceed. Different investors have different investment goals, and it is important to remember them before putting your money in a stock. The stock market remains volatile, and it will impact your investment.
If you have been following Apple stock for some time now and are keen on adding it to your portfolio, choose the right brokerage. The stock has consistently grown over the years and pays a regular dividend. It can help set up a regular dividend income. You can get a bite of Apple, even with a few dollars. You can own fractional shares through online brokers like Robinhood or Stash, so you do not have to set aside hundreds of dollars for one share.
Keep your risk appetite in mind and invest in long-term goals. All stocks come with their risks, and you need to be able to tolerate the downside. Remaining invested for the long term can generate stable returns and high growth.
Related: How to Buy Microsoft Stock
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Writer
Vandita Jadeja is a financial writer and editorial assistant at Joywallet. She loves to read and write about money and brings 7 years of experience from the financial industry. She loves coffee, mountains and sunsets.
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