Apple Inc. (NASDAQ:AAPL) shares closed lower on Wednesday as investors continued to digest announcements from this week's Worldwide Developers Conference.

The much-anticipated event showcased updates across Apple's operating systems, including a new design language called "Liquid Glass," but left some analysts and investors underwhelmed by its advancements in artificial intelligence.

With the recent buzz around Apple, some investors may be eyeing potential gains from the company's dividends too. As of now, Apple offers an annual dividend yield of 0.52%, which is a quarterly dividend amount of 26 cents per share ($1.04 a year).

To figure out how to earn $500 monthly from Apple, we start with the yearly target of $6,000 ($500 x 12 months).

Next, we take this amount and divide it by Apple $1.04 dividend: $6,000 / 1.04 = 5,769 shares.

So, an investor would need to own approximately $1,146,762 worth of Apple, or 5,769 shares to generate a monthly dividend income of $500.

Assuming a more conservative goal of $100 monthly ($1,200 annually), we do the same calculation: $1,200 / $1.04 = 1,154 shares, or $229,392 to generate a monthly dividend income of $100.

Note that dividend yield can change on a rolling basis, as the dividend payment and the stock price both fluctuate over time.

The dividend yield is calculated by dividing the annual dividend payment by the current stock price. As the stock price changes, the dividend yield will also change.

For example, if a stock pays an annual dividend of $2 and its current price is $50, its dividend yield would be 4%. However, if the stock price increases to $60, the dividend yield would decrease to 3.33% ($2/$60).

Conversely, if the stock price decreases to $40, the dividend yield would increase to 5% ($2/$40).

Further, the dividend payment itself can also change over time, which can also impact the dividend yield. If a company increases its dividend payment, the dividend yield will increase even if the stock price remains the same. Similarly, if a company decreases its dividend payment, the dividend yield will decrease.

AAPL Price Action: Shares of Apple fell by 1.9% to close at $198.78 on Wednesday.

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