With the introduction of Macintosh computers many years ago and the iPhone in 2007, Apple (NASDAQ:AAPL) has been known to bring innovative products to the world. Consequently, AAPL stock has rewarded investors with outstanding returns for generations.

Yet, even a great company like Apple is going to encounter bumps in the road. For example, the global chip shortage and broader supply-chain issues have created problems for tech businesses like Apple.

Meanwhile, recent geopolitical tensions have pushed the Nasdaq and the S&P 500 lower. AAPL stock is included in both of those indexes, and it has been subject to negative price pressure along with other technology stocks.

Yet, selling your Apple shares now will likely prove to be a costly mistake. At least one famous investor has held onto his position, and this could inspire you to stay the course even during uncertain times.

AAPL Stock at a Glance

Let’s address a persistent debate right now. Is AAPL stock a growth stock, or a value stock?

The growth is undeniable. Over the past year, the Apple share price has run from $120 to $160, and it touched $180 along the way. Hence, the momentum is definitely to the upside.

Can a growth stock offer a good value, though? Yes, it’s entirely possible as Apple’s trailing 12-month price-to-earnings (P/E) ratio is 27.5x. That’s not unreasonable at all, especially for a tech company in the 2020s.

By the way, Apple also rewards income-focused investors with a forward annual dividend yield of 0.5%. You won’t likely get rich overnight with those dividend payments, but consider them the cherry on top of the sundae.

In the final analysis, AAPL stock offers both growth and value, and proves that these two features aren’t mutually exclusive.

AAPL Stock Is Backed by Buffett

Reportedly, legendary investor Warren Buffett maintained his long-standing position in Apple during 2021’s fourth quarter.

He dumped some other stocks, but stuck by his AAPL shares. This says a lot about Apple, as Buffett is known for holding stocks that represent outstanding businesses.

Buffett is considered one of the best value investors of his generation. Without a doubt, though, he’s not only looking at Apple’s P/E ratio and similar valuation metrics.

We can’t read Buffett’s mind, but it’s undeniable that he wants to invest in growing businesses. Apple fits this description, as indicated by the company’s sales growth.

To quantify this, we can observe that for the three months ended Dec. 26, 2020, Apple reported $95.7 million in total net sales. That figure increased to $104.4 million in the three months ended Dec. 25, 2021.

Tapping into the Digital Payments Market

Buffett is advanced in age, and he might not always keep up with the latest technology gadgets. Still, he certainly knows tech businesses must continue to innovate, or else they’ll get left behind.

Apple is keeping pace with its competitors and proving its value proposition year after year. In a recent example of this, Apple revealed the company’s plans to introduce Tap to Pay on iPhone.

With Tap to Pay, U.S. merchants can just tap their iPhones to accept Apple Pay, other digital wallets and contactless credit and debit cards. No additional hardware or payment terminals will be needed to do this.

Apple made it crystal-clear that Tap to Pay will have a huge rollout in the digital-payments market.

The company said it will “work closely with leading payment platforms and app developers across the payments and commerce industry to offer Tap to Pay on iPhone to millions of merchants in the U.S.”

The Takeaway on AAPL Stock

We’re not telling anyone to buy a stock just because Buffett backs it. At the end of the day, you have to conduct your own due diligence and make your own decisions.

Nevertheless, Buffett’s vote of confidence is meaningful. He doesn’t have to keep up with the latest gadgets to know Apple is a still a tech-product leader. So, don’t hesitate to consider AAPL stock for growth, value or best of all, a compelling combination of both.

On the date of publication, neither Louis Navellier nor the InvestorPlace Research Staff member primarily responsible for this article held (either directly or indirectly) any positions in the securities mentioned in this article.

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