Key Stats for Apple Stock
- Current Price: $347.73
- Target Price (Mid): ~$486
- Street Target: ~$328
- Potential Total Return: ~40%
- Annualized IRR: ~9% / year
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What Happened?
Apple (AAPL) spent part of October 23 as the world’s most valuable public company. Shares hit a record intraday high of $351.73 on the day the iPhone Duo reached stores, while Nvidia (NVDA) slipped, briefly putting Apple ahead. By the close, Apple was down 0.14% at $347.73, about $5.07 trillion, and Nvidia was back on top at roughly $5.09 trillion. Nvidia did most of the work: from its October 6 close to October 23, Nvidia fell 11.8% while Apple rose 4.2%.
Apple’s AI Costs Little in Capex, and Investors Are Paying for It
At Apple’s September 10 event, CEO John Ternus called the iPhone “what I like to think of as an intelligent personal hub.” He contrasted Apple with companies that collect user data: “They move it to their servers and ask you to trust them.” Instead, he said, “Apple Intelligence runs on device whenever it can.” The new A20 Pro chip adds a second Neural Engine, which Apple says doubles that engine’s compute power.
The cash flow statement shows what that choice costs. Street estimates on TIKR put Apple’s fiscal 2026 capital spending at about $11 billion, down from $12.7 billion in fiscal 2025, against roughly $143 billion of free cash flow. Heavier requests still go to Apple’s Private Cloud Compute, so the bill is not zero, but it stays small next to the cash Apple generates.
Investors appear to be paying for that. On October 22, as rising oil prices and megacap spending worries hit tech, Schwab noted that Apple was the only Magnificent Seven stock to rise. It gained 1.23% to a record close of $348.22, while Nvidia fell 4.40%. Apple’s forward P/E now sits at about 38, up from about 29 on March 28. On TIKR’s competitor screen, Xiaomi trades near 22 times and HP near 11 times. Services, at $109.2 billion or about 26% of fiscal 2025 revenue, explains part of that premium, not all of it.
TIKR tracks 44 analysts on Apple. How many say “Buy”?
See the full breakdown of Buy, Hold, and Sell ratings on Apple, along with Wall Street’s revenue and earnings estimates, all in one place. More than 500,000 investors use TIKR to research stocks like this one. See Apple’s Analyst Ratings
November 2 Tests a Split Street
TIKR shows 18 Buy and 6 Outperform ratings on Apple against 14 Hold, 3 Underperform, and 3 Sell. MoffettNathanson cut its target to $283 on October 20. On October 23, The Verge reported Reddit posts from early iPhone Duo buyers describing cracked screens. Those are user reports, not a confirmed defect.
Apple reports fiscal fourth-quarter results after the close on November 2, Ternus’s first call as CEO. The company guided to 9% to 11% revenue growth and a 47% to 48% gross margin. Analysts expect around $113 billion in revenue and EPS of about $1.98.
TIKR Advanced Model Analysis
- Current Price: $347.73
- Target Price (Mid): ~$486
- Potential Total Return: ~40%
- Annualized IRR: ~9% / year
The TIKR model’s mid case puts Apple at around $486 by September 30, 2030, a total return of about 40%, or around 9% a year. Separately, the three analysts with fiscal 2030 forecasts on TIKR see revenue near $678 billion, up from $416.2 billion in fiscal 2025, with a net income margin near 27%. The main risk is the multiple, which rose from about 29 to 38 between March 28 and October 23 and can fall back. A buyer still gets paid in this case, but far less than the roughly 28% a year Apple returned over the past decade.
The 47% Line
A gross margin inside the 47% to 48% guide on November 2, despite rising memory costs, supports a 38-times multiple. A print below 47% hands the 20 Hold, Underperform, and Sell ratings their strongest argument.
So what is Apple stock actually worth?
TIKR lets you forecast the future price of any stock in less than a minute. Just enter a few assumptions into TIKR’s valuation model and see what Apple could be worth. Start from Wall Street consensus estimates, or adjust the inputs to reflect your own view of the business. It’s free to use.
Disclaimer:
Please note that the articles on TIKR are not intended to serve as investment or financial advice from TIKR or our content team, nor are they recommendations to buy or sell any stocks. We create our content based on TIKR Terminal’s investment data and analysts’ estimates. Our analysis might not include recent company news or important updates. TIKR has no position in any stocks mentioned. Thank you for reading, and happy investing!
