Apple is currently the world's largest tech company. However, if you look at the stock over the past six months, it really doesn't look that way. In fact, as uncharacteristic as this is for Apple, the company has trailed behind the S&P 500 over the past month, three month, and six month periods. However, there's a clear reason for this. Investors are justifiably concerned about the company's ability to grow from here. With such a large percentage of the market saturated, it's hard to expect too much growth from here. However, Apple may have made an announcement that will prove to be a long term growth catalyst for the stock, and it revolves around Apple Pay.

Big News Surrounding Apple Pay

Apple Pay is Apple's version of a virtual wallet. When the service was created, investors knew that the plan was to eventually get Apple pay in major stores and allow their customers to use the virtual wallet everywhere. Now, that plan is coming to fruition. As a matter of fact, the vice president of Apple Pay, Jennifer Bailey, recently announced that the payment service is going to be picked up by Starbucks Corporation, KFC and Chili's!

According to Bailey, the roll out of Apple pay in these major chains is already getting started with Starbucks. According to her announcement, the Apple and Starbucks will be working closely together to roll out the Apple Pay service in select stores this year. By the end of next year, it's expected that Apple pay will be available in 7,500 Starbucks stores across the United States.

Loyalty programs will also be playing a big roll in the inclusion of Apple Pay at major retail locations. In fact, Apple and Starbucks are working on ensuring that the Starbucks loyalty program works in conjunction with Apple Pay. The service will also be supporting loyalty programs with retailers like Coca Cola, Kohl's, Panera Bread and Walgreens relatively soon.

What This Means For Apple

Every time a consumer uses Apple Pay to pay for anything, Apple will earn a percentage of the sale. Considering that Apple Pay is going to be available in Starbucks, KFC, and Chili's, this is going to prove to be a major profit driver for the company. Just the type of profit driver that Apple needs in order to get investors behind them once again!

How To Take Advantage Of The Trends

While there are still growth concerns with regard to Apple, it's clear that investors are excited about the Apple Pay news. The stock had one of the best days we've seen in months after the announcement. With that said, I'm expecting to see more upward movement; at least in the short term. While investors may get back to their growth worries surrounding the iPhone, iPad, Apple Watch, and Apple TV, it's important to remember that investor excitement is a powerful thing. So powerful, it could be enough to get Apple out of the rut it's been in. With that said, when trading binary options on the stock, you'll want to look for call option opportunities as a way to take advantage of the upward trends we're likely to see over the short term. In the long term, keep an eye on the news. As long as news surrounding Apple remains positive, we can expect to see continued growth. Keep an eye on the latest financial news.

What Do You Think?

Where do you think Apple is headed and why? Let us know in the comments below!

[Image Courtesy of Wired]