Dividend stocks aren't in high demand now that investments like CDs are paying fatter yields than most top dividend performers. You can still get no-risk yields of over 4% with bank-issued CDs, after all, which is more than twice the current yield on the S&P 500 index.

Ironically, that situation might set investors up for some excellent long-term returns if they focus on buying these two dividend stocks while Wall Street is looking elsewhere for gains.

You'll likely have heard of these companies before and might even have them in your portfolio. Yet here are some good reasons to consider boosting your positions in Costco Wholesale (NASDAQ: COST) and Apple (NASDAQ: AAPL).

Costco's cash flow

Wall Street is giddy about several factors that could push Costco shares higher in 2025. The latest customer traffic surge is proof that the retailer remains popular with its members in this inflationary environment. Comparable-store sales were up 9% through early October.

Costco is seeing higher demand for discretionary products, which bodes well for gross profit margin. And don't discount the recent hike in membership fees that's working its way through the subscriber base right now.

But the best reason to like Costco stock might be the least familiar among investors. The chain's annual cash flow has risen to $12 billion, meaning it can easily fund its growth initiatives while leaving plenty of excess cash for shareholders.

Dividend investors might not be thrilled that Costco's dividends arrive in sporadic one-time sums. But if you can stomach unpredictable income payments, then this stock offers a great balance between growth and dividends.

Apple's product refresh

Apple is set to announce its fiscal fourth-quarter results in late October, but investors don't have to wait until then to own a bit more of this financial juggernaut. Three months ago, Apple announced that net sales declined slightly through the first nine months of the year, mainly because of sluggish demand in the core iPhone business.

Most Wall Street analysts are expecting a dramatic shift in the fourth quarter as the iPhone 16 lineup helps revenue rise 13% to $94 billion.

The company's profit margins were already improving during this contractionary period, which means shareholders might see surging earnings once sales trends pick up again into 2025. The soaring services business is another factor driving profitability toward new highs.

Apple's dividend yield is relatively low at 0.4%. Most of its earnings are headed toward high-return investments, after all, including the spending on research and development that helps keep the company on top of the consumer tech industry. Another knock against this dividend stock is the fact that it is trading near an all-time high, which raises the risk that you'll overpay for shares.