If you worked or were active in the market back in the ‘90s, you’ll understand why this is the least likely income stock story I could ever imagine telling a retired audience.

And believe me, I had second thoughts about this for the Two Minute. But the numbers are just too compelling.

Apple (Nasdaq: AAPL)! Yup, the gadget maker.

[ad#Google Adsense 336×280-IA]But what a gadget maker…

And with a dividend and future growth as solid as any of the better-known-name dividend-paying stocks.

In fact, better growth prospects than most.

The geek tech stock of the ‘90s is nothing short of remarkable.

And it kills me to say that because back in about 1994 I told my clients to avoid it.

Oh, boy! The things we did then…

Its earnings are huge: $11.62 in the last quarter, way above the consensus of $10.19.

It sold almost 1 million more iPhones than expected in the same period.

Sanford Bernstein has raised its target to $615 from $575. Post seven-to-one split, that’s up from $80 to about $87 per share.

It is expanding its stock buyback program by 50%! That alone is expected to bump up earnings by 6%.

It is very reasonably priced at 12 times forward earnings and has a mountain of cash.

And it returns so much to its shareholders, it can show great returns without any growth.

It increased its dividend by 7.9% last week.

The announcement of a seven-for-one stock split, as mysterious as it seems, is always a big psychological boost to buying, which could drive some very nice short-term price movement. And it may help Apple qualify for the Dow Industrial Average Index.

It plans to triple the number of retail stores in the next few years.

It just goes on and on. This is the biggest dog of the bunch!

As a retired person, you want to own this one for the dividend, dividend growth and long-term growth prospects.

I know I’m late for the party… But what a party!

— Steve McDonald


Source: Wealthy Retirement