The market downturn throughout this year is not something unknown to those who keep watch over it. From major companies’ stocks in share markets to major cryptocurrencies within the broader crypto market—the impact was on every other asset more or less. The tumble these assets within across the markets is worth recognizing given their performances throughout the last year.
A prominent financial news and analysis services provider Benzinga brought an analysis of what situation the market has been through. While picking up one entity each from three different categories, it noted the difference among the returns they could have provided if they achieve their yearly highs. Interestingly it calculated the sum of returns after investing 1000 USD.
Apple Inc (NASDAQ: APPL) share market, prominent memecurrency Dogecoin (DOGE) from crypto market and SPDR S&P 500 ETF Trust (SPY) tracks S&P 500 index were picked up for the comparison.
Apple is considered too big to have been affected by the market activities. But given that certain situations are not in control, the shutting down of the iPhone factory in China due to the pandemic ended up affecting the tech giant.
The company warned of decreasing production of iPhone Pro line up. A Morgan Stanley analyst also decreased the estimate of iPhone unit shipment for this quarter. Revenue and earnings per share (EPS) estimates have also witnessed a drop.
Currently Apple (NASDAQ: APPL) stock is trading at 130.03 USD where the 52-wk range remained 129.04 USD-182.94 USD.
Given that, 1,000 USD would buy 7.6 APPL shares today and if the stock price reach 182.94 USD, its 52-wk high then the shares would be equal to 1,385 USD. This would make the stock bringing a return of 38.35%.
The analysis platform also gauged popular meme token Dogecoin’s (DOGE) performance. Alongside being popular, it’s the biggest memecurrency and holds a position within top ten cryptocurrencies. Moreover, DOGE enjoys the praise from centibillionaire Elon Musk and surges every time he mentions it.
During May last year, Musk announced to take crypto payments in DOGE and it made the price jump up to 0.737567, attaining an all time high.
However, along with the broader crypto market, Dogecoin also suffered through crypto winter. Its 52-wk range remained 0.049720 USD-0.203232 USD and currently it is trading at 0.7052.
Considering the price, if 1,000 USD were to invest in the memecoin, it would accumulate about 13,214 DOGE. If the price surges back to its yearly high of 0.203232 USD, the total value of tokens will reach up to 2,673 USD, an increase of 167.4%.
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational ideas only, and they do not establish the financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
Nancy J. Allen is a crypto enthusiast and believes that cryptocurrencies inspire people to be their own banks and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning.
Source: https://www.thecoinrepublic.com/2022/12/28/whats-the-potential-return-in-crypto-and-stock-on-investing-1000-usd/