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1 Billion Reasons to Buy Apple Stock

1 Billion Reasons to Buy Apple Stock

Apple (NASDAQ: AAPL) sold its billionth iPhone back in 2016, but there's a big difference between cumulative unit sales and how many are actually in use. Since most iPhone purchases are upgrades nowadays, the installed base grows at a much slower pace. Independent analyst Neil Cybart at Above Avalon published a research note this week estimating that Apple topped 1 billion iPhone users last month.