AAPL Stock: This Report Will Shock Apple Stock Bears

New Report Bears Glad Tidings for AAPL Stock

An uptrend is once again building in Apple Inc.(NASDAQ:AAPL) stock on the back of some good news. The latest news headline is a positive research report from one analyst.

Apple has lately become one of the most-discussed subjects at table talks (after, of course, Donald Trump’s nomination). Its standoff with the FBI has garnered a lot of support for the company and AAPL stock.

Adding to its upside is Tim Cook’s promise, which he made at the company’s annual meeting last week. The Apple CEO said that he’s committed to returning value to shareholders. He has confirmed that the company will be raising its quarterly dividends.

In the midst of these bigger events, there’s a relatively smaller news headline that got swept under the carpet.

Piper Jaffray analyst Gene Munster has recently penned a first-hand research report on Apple’s fast-growing service “Apple Pay.” His research bore some promising revelations on the service.

Before I get to it, recall that Apple Pay is part of Apple’s services segment. This segment, albeit contributing only eight percent to Apple’s revenue mix, is currently its second-fastest-growing business segment on a year-over-year basis.

In fact, this segment is expected to grow to complement its hardware business as Apple continues to expand its “iOS” ecosystem. The plan is to gain a strong footing in the “Internet of Things” (IoT) industry, where daily-use Apple devices will electronically connect and communicate with each other and other machines.

For a better perspective, take the example of Apple Pay. The service allows you to use your “iPhone,” “Apple Watch,” “iPad,” or “iPod” for financial transactions, including making payments to merchants at designated points of sale (POS) or transferring money to your friends. No need for a wallet anymore! (And no excuse if you forget your wallet…)

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