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Is Apple Stock Halal or Haram?

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Is Apple Stock Halal – Yes, Apple shares can be considered Halal.In conformity to Sharia law, ownership shares is considered Halal in the event that the company does not engage in any activities such as gambling, lending or producing alcohol pork, tobacco pornography, alcohol, or tobacco. This means that the product can be used by people that are not end users, and thus is Halal.

Are apples Halal? In the world of investing, there’s always a dispute over what’s Halal or not. Many people ask whether Apple stocks are Halal. While there’s no definitive answer, we can consider the potential benefits and drawbacks of placing an investment in Apple to assist us in making an informed decision.

Table of Contents

How do you define Halal?

There are a few important points to be aware of when looking at halal behaviour in the realm of finance.

First And perhaps more importantly is the fact that the concept of interest (riba) is not permitted in accordance with Islamic law. This means an arrangement with a financial component that requires the payment or receipt of interest isn’t allowed according to Islamic law.

The second reason is that gambling (gharar) isn’t permitted. This applies to any financial transaction marked by uncertainty or risk, such as betting, or speculating on the markets for stocks.

Furthermore, Islamic law requires that every financial transaction be carried out in a fair, honest way (‘adl). Just (‘adl). This means the contract must be unfair or unfair, such as one that is based on fraud or profit, is not permitted.

What does this all mean in the real world? It means all financial services or products that conforms to these standards can be deemed to be halal‘. This includes things like Islamic banking and financial products that are based on the concept of risk sharing and the avoidance of interest.

In addition, it encompasses the financial services and products that are not be specifically designed for Muslims however, they comply with Islamic rules. For instance, many of traditional insurance products are halal as they are based risk and avoiding speculation.

If you’re looking for something to invest in or a service that is legal according to Islamic law, make sure you confirm that it’s in compliance with the principles of avoidance of speculation, interest and unfairness. So, you can be sure that your investment is secure and conforms to the Islamic law.

Does Apple Stock Halal?

There’s no clear answer to the question of whether Apple stocks are believed to be Halal. Certain companies’ stocks, like Amazon’s, have their specific pros and cons and. This is due to the fact that there’s no universally applicable solution to this issue because the Islamic norms on stocks could be different based on a range of factors.

There’s no definitive answer to the question of the Apple stocks are deemed to be Halal. Although Apple isn’t associated with any explicitly forbiddenactivities however there are a few features of the company’s business that may be considered offensive to some Muslims.

For example, Apple sells products that can be used for games or to engage in other unsavory activities. In addition, the supply chain of Apple has also been accused discrimination of workers, as well as the use of child labor. It’s the decision of each Muslim to decide if placing an investment in Apple stocks is a good idea.

On the other hand, Apple is a major firm that trades on the exchange for stocks. This means that anybody can invest funds into Apple and should it be an investment that is successful, make profit. Apple is an international company that has operations in many countries around the world.

However, there are concerns over whether the ethics of business at Apple can be considered ethical. For example, Apple has been criticized for the way it treats employees in its manufacturing facilities in China. There have been cases of child labor being used in the production of Apple products.

Are you investing in Apple Halal?

The degree to that the investment into Apple is considered Halal in Islamic finance is contingent upon a number of aspects, including the source of the profits, the business practices and financial policies of the company. Islamic financial regulations require that investments be conducted in a way that is to Sharia law. After completing all the requirements pertaining to investing, a purchase in Apple is permitted.

Liste Of Halal Stock Screeners

To make sure you’re conscious of businesses that are Shariah compliant that are Shariah-compliant, we’ve created a list of the most screening sites for stock that accessible on the internet.

The stock screeners in this category look for stocks across a variety of financial markets, and you can select the one that best suits the type of stock that you’re looking for.

Zoya

Zoya of Zoya Finance lets you find Halal stocks and is also a monitor of companies that are in compliance with Shariah. The program gives you reports on different exchanges across the US, Canada, and the UK.

It allows you to even assess the risk, create an inventory of stocks you are interested in, and notify you if there’s a change in the status of compliance for the stocks.

Get it here: https://zoya.finance/

Islamicly

The Islamicly application is updated in real time and allows you to search for companies with halal stock.

This screening tool for stocks that are halal allows Muslim investors examine and track companies that are shariah-compliant on the biggest markets across the globe.

Get it here: https://www.islamicly.com/

Musaffa

With several exchanges covered With multiple exchanges covered, the Musaffa stock screener app allows users keep track of the stock prices of Shariah-compliant businesses.

The application is a comprehensive one that covers the stocks of Halal from countries like Singapore and the UK and Canada as well as Canada, the US, Canada, Indonesia and Malaysia.

Musaffa’s screening procedures follow the guidelines followed by the Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI) to prepare precise and comprehensive reports about the stock.

Look it up on: https://musaffa.com/

Wahed

This screening tool for stocks that are halal was designed by Wahed Invest, an ethical platform for investing that is designed to cater to Muslim investors.

Alongside managing your financial investments, this application allows users to look in search of Halal stocks from over fifty thousand companies around the world.

Additionally, Wahed gives details on the overviews, financial ratios, pricing as well as other. Wahed also includes a built-in calculator to calculate your monthly contribution.

Get it here: https://wahedinvest.com/

Halal Invest

This Halal Invest halal stocks screener is accessible on the web and an application that allows you to monitor businesses that are Shariah-compliant.

You’ll receive information about various businesses and news reports along with news and suggestions on stocks you might be interested in.

The screener also creates an investment portfolio based on all the stocks that you have added, and will notify you when the compliance has modified.

Get it here: https://halalinvest.info/

Finispia

The Finispia Halal Stocks Screener is an opportunity to check for stock that is shariah compliant in more than 90 countries across the globe.

The program is built in five Islamic investing methods that have been approved by scholars and provides you daily updates about your investment.

11. Halal Stocks that are the best to invest in

To help narrow down the results and make a decision simpler We’ve compiled the top stocks in halal that conform to Islamic finance.

1. Abbott Laboratories

Abbott Laboratories (ABT) is an American multinational company that is part of the health industry. The company was founded in 1888 and has its the headquarters of the company is within Illinois, US.

One of the reasons Abbott Laboratories made it to our list is due to the fact that its business is varied. Abbott Laboratories is a pioneer in the field of developing, manufacturing selling, distributing, and selling various health products.

Their specialities include producing medical devices, diagnostic kits, pharmaceutical drugs, and nutritional supplements/products.

By introducing coronavirus testing kits, Abbott laboratories set a new benchmark in 2020 and announced that they earned $34.61 billion.

In the fourth quarter of 2021, COVID-19 test kits sold $2.3 billion all over the world. Also, in 2021 COVID-19 saw an increase of sales over the entire period of 24.5 percent, as well as an organic increase of 22.9 percent.

2. Pfizer

Similar to Abbott Labs, Pfizer (PFE) is also a multi-national healthcare firm. Since 1849, when the company was founded within New York City, Pfizer is a biotech and pharmaceutical company.

The company’s earnings are generated by the manufacture of pharmaceuticals and vaccines in the areas of immunology, cancer and cardiac health neurology and endocrinology.

What is what makes Pfizer an investment one of the most sought-after Halal stocks is the fact that, from 2000 on, the firm has enacted nearly 4000 programs to help reduce greenhouse gas emissions and improve the environmental condition.

As a result of the discovery of the COVID-19 vaccine, Pfizer reported Q4 revenues of $23.84 billion for 2021. The revenue for the entire 2021 year totaled $81.3 billion. This is an increase in operational efficiency of 92 percent..

3. Johnson & Johnson

Johnson & Johnson (J&J) is a Shaiah-compliant American multinational company. It was established in 1886 in New Jersey, US, Johnson & Johnson operates in 60 countries and sells the products of its customers to over 175 nations around the world.

In addition to making pharmaceutical and medical devices, it also manufactures consumer-oriented products.

A proof that J&J is one of the top stocks is the fact that in 2021 it was ranked at number. 36 on the Fortune 500 list and reported sales between $93.77 billion and $93.77 billion.

This was an increase of 13.6 percent over 2020 sales.

The company also has an eco-friendly role by reducing water and energy consumption as well as switching to non-polyvinyl chlorine containers that can hold liquids.

4. Coursera Inc.

Coursera (COUR) is a web-based platform for education which was founded in the year 2012 located in the US.

What earned Coursera at the top of our stock of halal is the fact that it has partnered with a range of institutions and universities that offer online programs, certificates, and degrees in a variety of fields to students across the globe.

It is available in many languages. By 2021, there were 92 million users.

For 2021, total earnings for 2021 were $415.3 million. This is an improvement of 41 percent when compared to $293.5 million in revenue in 2020.

5. TJX Companies, Inc.

TJX Companies (TJX) is a multinational company that was founded in 1987 and is headquartered in Massachusetts, US.

This is one of the most pure stocks you could invest your money in. It is an expert in discount department stores and provides a wide range of products, including clothing furniture furnishings, furniture, beauty products and other items.

2021 was the one that TJX Companies reported overall annual revenue of $32.137 billion.

6. Microsoft Corporation

It was in 1975 that Microsoft became a reality in the year 1975. Microsoft (MSFT) is an American multinational corporation in the field of technology.

Microsoft is one of the top of our Halal stocks list as it ranks one of the top five firms in the field of information technology in America.

This business is specialized in computers, computer software, consumer electronics, and other services that are related to technology.

In comparison to in 2020 Microsoft has reported an 18 percent growth in their revenues, which is estimated at $168.1 billion.

7. Duolingo Inc.

Duolingo (DUOL) is an American online platform that allows users to learn languages that was first released in 2012.

It is available on the web and an app for mobile that allows for the use over 103 different classes and up to 40 languages.

Users of Duolingo can learn basic grammar pronunciation, pronunciation, vocabulary, and more through reading books, translating material, stories, and much more. The material is all accessible in the app.

We chose Duolingo for our list of stocks that are halal because of its overall performance in the market.

The company became a publicly traded company in 2021. The company made the highest annual earnings which was worth $220 million. The company’s performance could bring greater dividends soon.

8. Adobe Inc.

Adobe Inc. (ADBE) was formerly was known as Adobe Systems Inc., was founded in 1982. It was established in the year 1982. It is today an American multinational corporation that has a specialization in computer programming.

The company develops and sells various software for graphics animation videos, and more.

For 2021, Adobe has revealed an annual revenue in the range between $15.785 billion.

While it’s costly, Adobe is considered one of the stocks that could give investors long-term returns.

9. Unilever PLC

A British multinational corporation that deals in consumer goods, Unilever plc (UL/ULVR) was founded through the British government in 1929. London, England.

The company has earned its reputation of being the largest soap manufacturer in the world.

Unilever is thought to be as one of the best Halal stocks, based on the revenue that it makes from its varied variety of products.

Apart from soaps, Unilever can also be a manufacturer of various other products for consumers including food items, supplements, cleaning products, personal care products, and more.

It is traded on the London and New York Stock Exchange and in 2021, the company declared profits of PS52.444 billion.

10. Chevron Corp.

In 1879, the company was established and later was named Pacific Coast Oil Co., Chevron (CVX) is an American multinational energy company.

It was the dominant oil company around the globe through its form. It was among the Seven Sisters from the 1940s up to the mid-1970s.

Presently operating in over 180 countries across the globe, Chevron deals with various aspects of oil and natural gas, such as refinery, production, transport and the list goes on.

Chevron is on our most popular Halal stocks due to the rising cost of gasoline and oil increasing the time to make investments in stocks early may prove beneficial over the long term.

In 2021, Chevron declared a total year-long profits of $94.7 billion. It was ranked as 27th in the Fortune 500.

11. Engro Corp.

Engro Corp. (ENGRO) is a multi-industry company that is an element of PSX (Pakistan Stock Exchange).

The company was established in 1965 in Karachi, Pakistan, initially as a fertilizer business. Later, it grew into a conglomerate operating through petrochemicals, food, energy, agriculture and associated infrastructure and also Telecommunications.

The company announced an increase by 25% in revenue per year, which is RS. 311.59 billion by 2021. in comparison to RS. 248.82 billion in 2020. Engro Corp. made it in our top Halal stocks list due to its attractive price to international investors

Alternatives to Apple for Halal Investors
CompanyTickerExpected ReturnExpected RiskExpected SharpeMarket Cap (USD)Dell Technologies Inc.DELL10.08%34.37%0.155132,728,729,220.28Dynatrace IncDT11.81%46.62%0.151413,464,035,731.96Ceridian HCM HoldingCDAY11.65%47.25%0.14618,928,226,248.37Sensata Technologies Holding plcST9.73%34.41%0.14496,137,181,456.84SiTime CorpSITM15.61%75.16%0.14451,809,487,533.44Accenture PLCACN8.93%29.18%0.1432175,054,4

The companies selected were for the competition were based on their projected return as well as the Sharpe ratio and their risk. All of them are within the tech industry and have market values over 1 billion dollars.

Strategies to Invest in Halal Stock

Find out more about the financials and operations of the company. Prior to buying shares, you must look into the company’s operations and ensure that its operations and finances are in conformity with Islamic investing principles.

Check the policies and practices of the business when you invest in shares that are halal and also ensure that you review the policies and practices of the business. This includes checking that they don’t use any illegal or fraudulent techniques.

Place your money in Socially-conscious securities Many Islamic funds allow the investors to make investments in companies which are deemed as socially accountable. These include businesses that concentrate on sustainable development, as in addition to renewable energy as well as other environmental or charitable activities.

Diversify the portfolio you have among the top aspects to keep in mind when investing in Halal stocks will be to broaden your investment portfolio. If you own a variety of investments, you will protect yourself from volatility in the market and reduce the risk.

At the end of the day, investing into Apple shares is believed to be halal and therefore it’s a matter of following Islamic investment regulations and doing the required study.

FAQs

Q. Is purchasing Apple shares Halal?

A. A. Yes. Apple shares are halal if that the company isn’t involved in any illegal activity such as gambling, producing products that are illegal or the possibility by using (Riba).

Q. Are Apple products Halal?

A. A. Yes. Apple products are halal since Apple manufactures electronic items which consumers can use in a way that is halal.

Q. Do you think it is haram to invest in Apple Stock?

A. It’s not illegal to make bets in Apple Stock as the company is not engaged in any illegal activity like gambling, creating products that are illegal or taking high risk by using (Riba).

Q. Is it legal to invest in Apple shares?

A. Yes, it’s permissible to purchase Apple shares if you ensure that you adhere to Islamic investing guidelines and do the required investigation.

Q. Is iPhone an act of haram in Islam?

A. iPhones can’t be considered to be haram within Islam in the event that they’re used in a responsible manner and in compliance with Islamic regulations. The company itself isn’t thought to be haram when they follow Islamic investing rules.

Q. Are you certain it is Apple stock Shariah is in conformity?

A. Apple stock is classified as Shariah conforming if it satisfies the requirements to be a Shariah-compliant stock for Islamic investing, including its operations and financials.

Conclusion

The choice of whether or not bets in Apple stocks is believed to be an issue of personal choice. Some investors may be comfortable investing in a company that has questionable corporate practices, while others prefer not to invest in these companies. Whatever you decide to do, be sure you do your own research and do your research before making a decision.

Written By Abdul Hameed

Hafiz Hameed  is an Islamic scholar, writer, and an External Advisor in the field of Renewable Energy Maldives. He writes on Islamic financial issues, food, halal, and eating guidelines. He is a highly regarded voice in his Muslim community and is known for his simple explanations of the complicated concepts of Islam and religion. His invitations to address many events and conferences on topics that are relevant to Islamic finances, nutrition and renewable energy.

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