AAPL Apple Inc. - Common Stock

NASDAQ · Technology · View on SEC EDGAR ↗
$301.50
Price · May 20, 2026
Fundamentals as of May 1, 2026
52W Range
$193–$303
98% of range
Analyst Rating
BUY
54 analysts
Price Target
$308
+2% upside
P/E (TTM)
34.2
ROE
159.4%
Net Profit Margin
26.9%

AAPL Stock Snapshot Price, market cap, P/E, EPS, ROE, debt/equity, 52-week range

Price
$301.50
Market Cap
$3.77T
P/E (TTM)
34.2
EPS (TTM)
$7.46
Revenue (TTM)
$416.16B
Div Yield
0.41%
ROE
159.4%
Debt/Equity
1.3
52W Range
$193 – $303

AAPL Stock Price Chart Daily OHLCV with technical indicators — pan, zoom, and customize your view

10-Year Performance Revenue, net income, margins and EPS trends

Revenue & Net Income $416.16B
10-point trend, +93.0%
2016-09-24 → 2025-09-27
EPS $7.46
10-point trend, -10.2%
2016-09-24 → 2025-09-27
Free Cash Flow $98.77B
10-point trend, +86.0%
2016-09-24 → 2025-09-27
Margins 26.9%
10-point trend, +20.0%
2016-09-24 → 2025-09-27

Valuation P/E, P/S, P/B, EV/EBITDA ratios — is the stock expensive or cheap?

Metric
5Y trend
AAPL
Peer Median
P/E (TTM)
5-point trend, +30.8%
34.2
23.9
P/S (TTM)
5-point trend, +37.5%
9.1
0.6
P/B
5-point trend, +33.8%
51.2
1.2
EV / EBITDA
5-point trend, +28.1%
26.4
—
Price / FCF
5-point trend, +47.2%
38.2
—

Profitability Gross, operating and net margins; ROE, ROA, ROIC

Metric
5Y trend
AAPL
Peer Median
Gross Margin
5-point trend, +12.3%
46.9%
36.5%
Operating Margin
5-point trend, +7.4%
32.0%
—
Net Profit Margin
5-point trend, +4.0%
26.9%
-16.9%
ROA
5-point trend, +10.2%
30.9%
-11.3%
ROE
5-point trend, +7.2%
159.4%
-11.3%
ROIC
5-point trend, +29.5%
65.1%
—

Financial Health Debt, liquidity, solvency — balance sheet strength

Metric
5Y trend
AAPL
Peer Median
Debt / Equity
5-point trend, -32.3%
1.3
52.4
Current Ratio
5-point trend, -16.9%
0.9
1.5
Quick Ratio
5-point trend, -19.5%
0.6
—

Growth Revenue, EPS and net income growth: YoY, 3Y CAGR, 5Y CAGR

Metric
5Y trend
AAPL
Peer Median
Revenue YoY
5-point trend, +13.8%
6.4%
—
Revenue CAGR 3Y
5-point trend, +13.8%
1.8%
—
Revenue CAGR 5Y
5-point trend, +13.8%
8.7%
—
EPS YoY
5-point trend, +33.0%
22.7%
—
Net Income YoY
5-point trend, +18.3%
19.5%
—

Per Share Metrics EPS, book value per share, cash flow per share, dividend per share

Metric
5Y trend
AAPL
Peer Median
EPS (Diluted)
5-point trend, +33.0%
$7.46
—

Capital Efficiency Asset turnover, inventory turnover, receivables turnover

Metric
5Y trend
AAPL
Peer Median
Payout Ratio
5-point trend, -9.9%
13.8%
—

Dividends Yield, payout ratio, dividend history, 5Y CAGR

Dividend Yield
0.41%
Payout Ratio
13.8%
5Y Div CAGR
—
Ex-dateAmount
May 11, 2026$0.2700
Feb. 9, 2026$0.2600
Nov. 10, 2025$0.2600
Aug. 11, 2025$0.2600
May 12, 2025$0.2600
Feb. 10, 2025$0.2500
Nov. 8, 2024$0.2500
Aug. 12, 2024$0.2500
May 10, 2024$0.2500
Feb. 9, 2024$0.2400
Nov. 10, 2023$0.2400
Aug. 11, 2023$0.2400
May 12, 2023$0.2400
Feb. 10, 2023$0.2300
Nov. 4, 2022$0.2300
Aug. 5, 2022$0.2300
May 6, 2022$0.2300
Feb. 4, 2022$0.2200
Nov. 5, 2021$0.2200
Aug. 6, 2021$0.2200

AAPL Analyst Consensus Bullish and bearish analyst opinions, 12-month price target, upside

BUY 54 analysts
  • Strong Buy 15 27.8%
  • Buy 24 44.4%
  • Hold 13 24.1%
  • Sell 2 3.7%
  • Strong Sell 0 0.0%

12-Month Price Target

43 analysts · 2026-05-16
Median target $310.00 +2.8%
Mean target $308.07 +2.2%

Earnings History EPS actual vs estimate, surprise %, beat rate, next earnings date

Avg Surprise
0.06%
Period EPS Actual EPS Est Surprise
March 31, 2026 $2.01 $1.99 0.02%
Dec. 31, 2025 $2.84 $2.73 0.11%
Sept. 30, 2025 $1.85 $1.81 0.04%
June 30, 2025 $1.57 $1.46 0.11%
March 31, 2025 $1.65 $1.66 -0.01%

Peer Comparison Key metrics vs sector peers

Ticker Market Cap P/E Rev YoY Net Margin ROE Gross Margin
AAPL $3.77T 34.2 6.4% 26.9% 159.4% 46.9%
SNDK $6.88B -4.2 10.4% -22.3% -15.5% 30.1%
DELL $74.61B 13.2 18.8% 5.2% -300.4% 20.0%
WDC $21.96B 12.4 50.7% 19.8% 21.7% 38.8%
HPE $32.19B -610.5 13.8% 0.17% 0.23% —
P — — 15.6% 5.1% 13.6% 70.4%
NTAP $17.78B 15.6 4.9% 18.1% 116.6% 70.2%
SMCI $29.12B 29.2 46.6% 4.8% 17.9% 11.1%
HPQ $25.48B 10.4 3.2% 4.6% -311.8% 20.6%
IONQ $16.27B -24.7 201.8% -392.6% -24.4% —
GPGI — -15.7 -85.8% -227.3% -198.9% 48.0%

Full Fundamentals All metrics by year — income statement, balance sheet, cash flow

Income Statement 17
Annual Income Statement data for AAPL
Metric Trend 202520242023202220212020201920182017201620152014
Revenue 12-point trend, +127.7% $416.16B $391.04B $383.29B $394.33B $365.82B $274.51B $260.17B $265.60B $229.23B $215.64B $233.72B $182.79B
Cost of Revenue 12-point trend, +96.8% $220.96B $210.35B $214.14B $223.55B $212.98B $169.56B $161.78B $163.76B $141.05B $131.38B $140.09B $112.26B
Gross Profit 12-point trend, +176.7% $195.20B $180.68B $169.15B $170.78B $152.84B $104.96B $98.39B $101.84B $88.19B $84.26B $93.63B $70.54B
R&D Expense 12-point trend, +471.9% $34.55B $31.37B $29.91B $26.25B $21.91B $18.75B $16.22B $14.24B $11.58B $10.04B $8.07B $6.04B
SG&A Expense 12-point trend, +130.1% $27.60B $26.10B $24.93B $25.09B $21.97B $19.92B $18.25B $16.70B $15.26B $14.19B $14.33B $11.99B
Operating Expenses 12-point trend, +244.6% $62.15B $57.47B $54.85B $51.34B $43.89B $38.67B $34.46B $30.94B $26.84B $24.24B $22.40B $18.03B
Operating Income 12-point trend, +153.4% $133.05B $123.22B $114.30B $119.44B $108.95B $66.29B $63.93B $70.90B $61.34B $60.02B $71.23B $52.50B
Interest Expense 10-point trend, +924.2% · · $3.93B $2.93B $2.65B $2.87B $3.58B $3.24B $2.32B $1.46B $733M $384M
Other Non-op 12-point trend, +25.5% $-321M $269M $-565M $-334M $60M $-87M $422M $-441M $-133M $-1.20B $-903M $-431M
Pretax Income 12-point trend, +148.2% $132.73B $123.48B $113.74B $119.10B $109.21B $67.09B $65.74B $72.90B $64.09B $61.37B $72.52B $53.48B
Income Tax 12-point trend, +48.3% $20.72B $29.75B $16.74B $19.30B $14.53B $9.68B $10.48B $13.37B $15.74B $15.69B $19.12B $13.97B
Net Income 12-point trend, +183.5% $112.01B $93.74B $97.00B $99.80B $94.68B $57.41B $55.26B $59.53B $48.35B $45.69B $53.39B $39.51B
EPS (Basic) 12-point trend, +15.4% $7.49 $6.11 $6.16 $6.15 $5.67 $3.31 $2.99 $3.00 $9.27 $8.35 $9.28 $6.49
EPS (Diluted) 12-point trend, +15.7% $7.46 $6.08 $6.13 $6.11 $5.61 $3.28 $2.97 $2.98 $9.21 $8.31 $9.22 $6.45
Shares (Basic) 12-point trend, +145.6% 14,948,500,000 15,343,783,000 15,744,231,000 16,215,963,000 16,701,272,000 17,352,119,000 18,471,336,000 19,821,510,000 5,217,242,000 5,470,820,000 5,753,421,000 6,085,572,000
Shares (Diluted) 12-point trend, +145.1% 15,004,697,000 15,408,095,000 15,812,547,000 16,325,819,000 16,864,919,000 17,528,214,000 18,595,651,000 20,000,435,000 5,251,692,000 5,500,281,000 5,793,069,000 6,122,663,000
EBITDA 12-point trend, +139.5% $144.75B $134.66B $125.82B $130.54B $120.23B $77.34B $76.48B $81.80B $69.54B $70.53B $82.49B $60.45B
Balance Sheet 28
Annual Balance Sheet data for AAPL
Metric Trend 202520242023202220212020201920182017201620152014
Cash & Equivalents 12-point trend, +159.6% $35.93B $29.94B $29.96B $23.65B $34.94B $38.02B $48.84B $25.91B $20.29B $20.48B $21.12B $13.84B
Short-term Investments 12-point trend, +67.0% $18.76B $35.23B $31.59B $24.66B $27.70B $52.93B $51.71B $40.39B $53.89B $46.67B $20.48B $11.23B
Receivables 12-point trend, +127.8% $39.78B $33.41B $29.51B $28.18B $26.28B $16.12B $22.93B $23.19B $17.87B $15.75B $16.85B $17.46B
Inventory 12-point trend, +170.9% $5.72B $7.29B $6.33B $4.95B $6.58B $4.06B $4.11B $3.96B $4.86B $2.13B $2.35B $2.11B
Other Current Assets 12-point trend, +48.7% $14.59B $14.29B $14.70B $21.22B $14.11B $11.26B $12.35B $12.09B $13.94B $8.28B $15.09B $9.81B
Current Assets 12-point trend, +115.9% $147.96B $152.99B $143.57B $135.41B $134.84B $143.71B $162.82B $131.34B $128.65B $106.87B $89.38B $68.53B
PP&E (Net) 12-point trend, +141.6% $49.83B $45.68B $43.72B $42.12B $39.44B $36.77B $37.38B $41.30B $33.78B $27.01B $22.47B $20.62B
PP&E (Gross) 12-point trend, +222.6% $125.85B $119.13B $114.60B $114.46B $109.72B $103.53B $95.96B $90.40B $75.08B $61.24B $49.26B $39.02B
Accum. Depreciation 12-point trend, +313.3% $76.01B $73.45B $70.88B $72.34B $70.28B $66.76B $58.58B $49.10B $41.29B $34.23B $26.79B $18.39B
Goodwill 4-point trend, +23.9% · · · · · · · · $5.72B $5.41B $5.12B $4.62B
Intangibles 5-point trend, +221.1% $13.30B · · · · · · · $2.30B $3.21B $3.89B $4.14B
Other Non-current Assets 12-point trend, +1829.7% $72.63B $74.83B $64.76B $54.43B $48.85B $42.52B $32.98B $22.28B $18.18B $8.76B $5.42B $3.76B
Total Assets 12-point trend, +55.0% $359.24B $364.98B $352.58B $352.75B $351.00B $323.89B $338.52B $365.73B $375.32B $321.69B $290.35B $231.84B
Accounts Payable 12-point trend, +131.4% $69.86B $68.96B $62.61B $64.11B $54.76B $42.30B $46.24B $55.89B $44.24B $37.29B $35.49B $30.20B
Accrued Liabilities 4-point trend, +39.5% · · · · · · · · $25.74B $22.03B $25.18B $18.45B
Short-term Debt 12-point trend, +26.5% $7.98B $9.97B $5.99B $9.98B $6.00B $5.00B $5.98B $11.96B $11.98B $8.11B $8.50B $6.31B
Current Liabilities 12-point trend, +161.0% $165.63B $176.39B $145.31B $153.98B $125.48B $105.39B $105.72B $115.93B $100.81B $79.01B $80.61B $63.45B
Capital Leases 6-point trend, +40.9% $10.91B $10.05B $10.41B $9.94B $9.51B $7.75B · · · · · ·
Deferred Tax 5-point trend, -97.2% · · · · · · · $426M $31.50B $26.02B $16.26B $15.12B
Other Non-current Liabilities 12-point trend, +67.4% $41.55B $45.89B $49.85B $49.14B $53.33B $54.49B $50.50B $48.91B $40.41B $36.07B $33.43B $24.83B
Total Liabilities 12-point trend, +137.3% $285.51B $308.03B $290.44B $302.08B $287.91B $258.55B $248.03B $258.58B $241.27B $193.44B $170.99B $120.29B
Long-term Debt 12-point trend, +212.9% $90.70B $96.66B $105.10B $110.09B $118.70B $107.44B $102.07B $102.52B $103.70B $78.93B $55.83B $28.99B
Total Debt 12-point trend, +1464.0% $98.66B $106.63B $111.09B $120.07B $124.72B $112.44B $108.05B $114.48B $115.68B $87.03B $64.46B $6.31B
Retained Earnings 12-point trend, -116.4% $-14.26B $-19.15B $-214M $-3.07B $5.56B $14.97B $45.90B $70.40B $98.33B $96.36B $92.28B $87.15B
AOCI 12-point trend, -614.9% $-5.57B $-7.17B $-11.45B $-11.11B $163M $-406M $-584M $-3.45B $-150M $634M $-345M $1.08B
Stockholders' Equity 12-point trend, -33.9% $73.73B $56.95B $62.15B $50.67B $63.09B $65.34B $90.49B $107.15B $134.05B $128.25B $119.36B $111.55B
Liabilities + Equity 12-point trend, +55.0% $359.24B $364.98B $352.58B $352.75B $351.00B $323.89B $338.52B $365.73B $375.32B $321.69B $290.35B $231.84B
Shares Outstanding 12-point trend, +151.8% 14,773,260,000 15,116,786,000 15,550,061,000 15,943,425,000 16,426,786,000 16,976,763,000 17,772,945,000 19,019,943,000 20,504,805,000 5,336,166,000 5,578,753,000 5,866,161,000
Cash Flow 19
Annual Cash Flow data for AAPL
Metric Trend 202520242023202220212020201920182017201620152014
D&A 12-point trend, +47.2% $11.70B $11.45B $11.52B $11.10B $11.28B $11.06B $12.55B $10.90B $10.16B $10.51B $9.20B $7.95B
Stock-based Comp 12-point trend, +349.3% $12.86B $11.69B $10.83B $9.04B $7.91B $6.83B $6.07B $5.34B $4.84B $4.21B $3.59B $2.86B
Deferred Tax 9-point trend, -61.9% · · · $895M $-4.77B $-215M $-340M $-32.59B $5.97B $4.94B $1.38B $2.35B
Amort. of Intangibles 4-point trend, +9.1% · · · · · · · · $1.20B $1.50B $1.30B $1.10B
Other Non-cash 12-point trend, -456.0% $-25.09B $1.39B $-8.80B $1.31B $-5.06B $5.59B $-4.14B $34.25B $-3.76B $484M $11.65B $7.05B
Operating Cash Flow 12-point trend, +86.7% $111.48B $118.25B $110.54B $122.15B $104.04B $80.67B $69.39B $77.43B $64.22B $66.23B $81.27B $59.71B
CapEx 12-point trend, +32.8% $12.71B $9.45B $10.96B $10.71B $11.09B $7.31B $10.49B $13.31B $12.45B $12.73B $11.25B $9.57B
Investing Cash Flow 11-point trend, +127.0% $15.20B $2.94B $3.71B $-22.35B $-14.54B $-4.29B $45.90B $16.07B $-46.45B $-45.98B $-56.27B ·
Debt Issued 12-point trend, -62.5% $4.48B $0 $5.23B $5.46B $20.39B $16.09B $6.96B $6.97B $28.66B $24.95B $27.11B $11.96B
Net Debt Issued 12-point trend, -153.9% $-6.45B $-9.96B $-5.92B $-4.08B $11.64B $3.46B $-1.84B $469M $25.16B $22.45B $27.11B $11.96B
Stock Issued 8-point trend, +51.4% · · · · $1.10B $880M $781M $669M $555M $495M $543M $730M
Stock Repurchased 12-point trend, +101.6% $90.71B $94.95B $77.55B $89.40B $85.97B $72.36B $66.90B $72.74B $32.90B $29.72B $35.25B $45.00B
Net Stock Activity 12-point trend, -104.9% $-90.71B $-94.95B $-77.55B $-89.40B $-84.87B $-71.48B $-66.12B $-72.07B $-32.34B $-29.23B $-34.71B $-44.27B
Dividends Paid 12-point trend, +39.8% $15.42B $15.23B $15.03B $14.84B $14.47B $14.08B $14.12B $13.71B $12.77B $12.15B $11.56B $11.03B
Financing Cash Flow 11-point trend, -581.2% $-120.69B $-121.98B $-108.49B $-110.75B $-93.35B $-86.82B $-90.98B $-87.88B $-17.97B $-20.89B $-17.72B ·
Net Change in Cash 12-point trend, +1543.6% $5.99B $-794M $5.76B $-10.95B $-3.86B $-10.44B $24.31B $5.62B $-195M $-636M $7.28B $-415M
Taxes Paid 12-point trend, +332.6% $43.37B $26.10B $18.68B $19.57B $25.39B $9.50B $15.26B $10.42B $11.59B $10.44B $13.25B $10.03B
Free Cash Flow 12-point trend, +97.0% $98.77B $108.81B $99.58B $111.44B $92.95B $73.36B $58.90B $64.12B $51.15B $53.09B $70.02B $50.14B
Levered FCF 10-point trend, +93.0% · · $96.23B $108.99B $90.66B $70.91B $55.89B $61.48B $49.39B $52.01B $69.48B $49.86B
Profitability 8
Annual Profitability data for AAPL
Metric Trend 202520242023202220212020201920182017201620152014
Gross Margin 12-point trend, +21.6% 46.9% 46.2% 44.1% 43.3% 41.8% 38.2% 37.8% 38.3% 38.5% 39.1% 40.1% 38.6%
Operating Margin 12-point trend, +11.3% 32.0% 31.5% 29.8% 30.3% 29.8% 24.1% 24.6% 26.7% 26.8% 27.8% 30.5% 28.7%
Net Margin 12-point trend, +24.6% 26.9% 24.0% 25.3% 25.3% 25.9% 20.9% 21.2% 22.4% 21.1% 21.2% 22.9% 21.6%
Pretax Margin 12-point trend, +9.0% 31.9% 31.6% 29.7% 30.2% 29.8% 24.4% 25.3% 27.5% 28.0% 28.5% 31.0% 29.3%
EBITDA Margin 12-point trend, +5.2% 34.8% 34.4% 32.8% 33.1% 32.9% 28.2% 29.4% 30.8% 30.3% 32.7% 35.3% 33.1%
ROA 12-point trend, +71.7% 30.9% 26.1% 27.5% 28.4% 28.1% 17.3% 15.7% 16.1% 13.9% 14.9% 20.4% 18.0%
ROE 12-point trend, +374.3% 159.4% 151.6% 158.5% 183.5% 148.7% 83.4% 59.1% 53.6% 36.9% 36.9% 46.2% 33.6%
ROIC 12-point trend, +97.9% 65.1% 57.2% 56.3% 58.6% 50.3% 31.9% 27.1% 26.1% 18.5% 20.8% 28.5% 32.9%
Liquidity & Solvency 5
Annual Liquidity & Solvency data for AAPL
Metric Trend 202520242023202220212020201920182017201620152014
Current Ratio 12-point trend, -17.3% 0.9 0.9 1.0 0.9 1.1 1.4 1.5 1.1 1.3 1.4 1.1 1.1
Quick Ratio 12-point trend, -14.9% 0.6 0.6 0.6 0.5 0.7 1.0 1.2 0.8 0.9 1.0 0.7 0.7
Debt / Equity 12-point trend, +2264.0% 1.3 1.9 1.8 2.4 2.0 1.7 1.2 1.1 0.9 0.7 0.5 0.1
LT Debt / Equity 11-point trend, +137.2% 1.1 1.5 1.5 2.0 1.7 1.5 1.0 0.9 0.7 0.6 0.4 ·
Interest Coverage 10-point trend, -78.7% · · 29.1 40.7 41.2 23.1 17.9 21.9 26.4 41.2 97.2 136.7
Efficiency 3
Annual Efficiency data for AAPL
Metric Trend 202520242023202220212020201920182017201620152014
Asset Turnover 12-point trend, +38.0% 1.1 1.1 1.1 1.1 1.1 0.8 0.7 0.7 0.7 0.7 0.9 0.8
Inventory Turnover 12-point trend, -41.3% 34.0 30.9 38.0 38.8 40.0 41.5 40.1 37.2 40.4 58.6 62.8 57.9
Receivables Turnover 12-point trend, -4.9% 11.4 12.4 13.3 14.5 17.3 14.1 11.3 12.9 13.6 13.2 13.6 12.0
Per Share 6
Annual Per Share data for AAPL
Metric Trend 202520242023202220212020201920182017201620152014
Book Value / Share 12-point trend, -73.8% $4.99 $3.77 $4.00 $3.18 $3.84 $3.85 $20.37 $22.53 $26.15 $24.03 $21.39 $19.02
Revenue / Share 12-point trend, -7.1% $27.74 $25.38 $24.24 $24.15 $21.69 $15.66 $55.96 $53.12 $43.65 $39.21 $40.34 $29.86
Cash Flow / Share 12-point trend, -23.8% $7.43 $7.67 $6.99 $7.48 $6.17 $4.60 $14.93 $15.49 $12.11 $11.97 $14.03 $9.75
Cash / Share 12-point trend, +3.1% $2.43 $1.98 $1.93 $1.48 $2.13 $2.24 $10.99 $5.45 $3.96 $3.84 $3.79 $2.36
Dividend / Share 12-point trend, -44.0% $1 $1 $1 $1 $1 $1 $1 $1 $2 $2 $2 $2
EPS (TTM) 12-point trend, +15.7% $7.46 $6.08 $6.13 $6.11 $5.61 $3.28 $2.97 $2.98 $9.21 $8.31 $9.22 $6.45
Growth Rates 10
Annual Growth Rates data for AAPL
Metric Trend 202520242023202220212020201920182017201620152014
Revenue YoY 5-point trend, -80.7% 6.4% 2.0% -2.8% 7.8% 33.3% · · · · · · ·
Revenue CAGR 3Y 3-point trend, -84.6% 1.8% 2.2% 11.8% · · · · · · · · ·
Revenue CAGR 5Y 8.7% · · · · · · · · · · ·
EPS YoY 5-point trend, -68.0% 22.7% -0.82% 0.33% 8.9% 71.0% · · · · · · ·
EPS CAGR 3Y 3-point trend, -70.3% 6.9% 2.7% 23.2% · · · · · · · · ·
EPS CAGR 5Y 17.9% · · · · · · · · · · ·
Net Income YoY 5-point trend, -70.0% 19.5% -3.4% -2.8% 5.4% 64.9% · · · · · · ·
Net Income CAGR 3Y 3-point trend, -79.5% 3.9% -0.33% 19.1% · · · · · · · · ·
Net Income CAGR 5Y 14.3% · · · · · · · · · · ·
Dividend CAGR 5Y 1.8% · · · · · · · · · · ·
Valuation (TTM) 17
Annual Valuation (TTM) data for AAPL
Metric Trend 202520242023202220212020201920182017201620152014
Revenue TTM 12-point trend, +127.7% $416.16B $391.04B $383.29B $394.33B $365.82B $274.51B $260.17B $265.60B $229.23B $215.64B $233.72B $182.79B
Net Income TTM 12-point trend, +183.5% $112.01B $93.74B $97.00B $99.80B $94.68B $57.41B $55.26B $59.53B $48.35B $45.69B $53.39B $39.51B
Market Cap 12-point trend, +2454.2% $3.77T $3.44T $2.66T $2.40T $2.41T $1.91T $243.07B $268.35B $197.51B $150.36B $159.98B $147.75B
Enterprise Value 12-point trend, +2860.0% $3.82T $3.48T $2.71T $2.47T $2.48T $1.93T $250.56B $316.53B $239.01B $170.23B $182.85B $128.98B
P/E 12-point trend, +776.9% 34.2 37.5 27.9 24.6 26.2 34.2 18.4 18.9 4.2 3.4 3.1 3.9
P/S 12-point trend, +1021.9% 9.1 8.8 6.9 6.1 6.6 6.9 0.9 1.0 0.9 0.7 0.7 0.8
P/B 12-point trend, +3764.1% 51.2 60.5 42.8 47.3 38.3 29.2 2.7 2.5 1.5 1.2 1.3 1.3
P / Tangible Book 6-point trend, +75.5% 51.2 60.5 42.8 47.3 38.3 29.2 · · · · · ·
P / Cash Flow 12-point trend, +1268.1% 33.9 29.1 24.1 19.6 23.2 23.6 3.5 3.5 3.1 2.3 2.0 2.5
P / FCF 12-point trend, +1196.7% 38.2 31.6 26.7 21.5 26.0 26.0 4.1 4.2 3.9 2.8 2.3 2.9
EV / EBITDA 12-point trend, +1136.1% 26.4 25.9 21.6 18.9 20.6 24.9 3.3 3.9 3.4 2.4 2.2 2.1
EV / FCF 12-point trend, +1402.7% 38.7 32.0 27.2 22.2 26.6 26.3 4.3 4.9 4.7 3.2 2.6 2.6
EV / Revenue 12-point trend, +1200.2% 9.2 8.9 7.1 6.3 6.8 7.0 1.0 1.2 1.0 0.8 0.8 0.7
Dividend Yield 12-point trend, -94.5% 0.41% 0.44% 0.56% 0.62% 0.60% 0.74% 5.8% 5.1% 6.5% 8.1% 7.2% 7.5%
Earnings Yield 12-point trend, -88.6% 2.9% 2.7% 3.6% 4.1% 3.8% 2.9% 5.4% 5.3% 23.9% 29.5% 32.1% 25.6%
Payout Ratio 12-point trend, -50.7% 13.8% 16.2% 15.5% 14.9% 15.3% 24.5% 25.6% 23.0% 26.4% 26.2% 21.4% 27.9%
Annual Payout 12-point trend, +39.8% $15.42B $15.23B $15.03B $14.84B $14.47B $14.08B $14.12B $13.71B $12.77B $12.15B $11.56B $11.03B

Financial Statements Income statement, balance sheet, cash flow — annual, last 5 years

Income Statement
2025-09-272024-09-282023-09-302022-09-242021-09-25
Revenue $416.16B$391.04B$383.29B$394.33B$365.82B
Gross Margin % 46.9%46.2%44.1%43.3%41.8%
Operating Margin % 32.0%31.5%29.8%30.3%29.8%
Net Income $112.01B$93.74B$97.00B$99.80B$94.68B
Diluted EPS $7.46$6.08$6.13$6.11$5.61
Balance Sheet
2025-09-272024-09-282023-09-302022-09-242021-09-25
Debt / Equity 1.31.91.82.42.0
Current Ratio 0.90.91.00.91.1
Quick Ratio 0.60.60.60.50.7
Cash Flow
2025-09-272024-09-282023-09-302022-09-242021-09-25
Free Cash Flow $98.77B$108.81B$99.58B$111.44B$92.95B

AAPL AI Analyst Panel — Bullish and Bearish Views 2026Q2 debate: Claude, Grok, Gemini, ChatGPT on the stock's prospects

Round 1 — Opening Takes

Grok NEUTRAL 0.75
↑ Bullish

I see Apple's ecosystem as a moat that locks in billions of users, fueling services growth and outsized returns through 2026Q2. Its ROE reached 164%, dwarfing peers like DELL's 130% and signaling buyback-fueled efficiency no hardware rival matches. Net margin climbed to 26.92%, reflecting pricing power in a flat gross margin environment of 46.91%. EPS rose to $7.46, backing the stock's climb from $193 to $211 amid retail buying frenzy per April 8 news.

↓ Bearish

My read is Apple's sky-high valuation demands flawless execution, but liquidity risks and peer-beating multiples expose it to any growth stumble by 2026Q2. P/E stands at 35.86, well above peer medians like DELL's 19.3, pricing in perfection with little margin for error. Current ratio lingers at 0.89 below 1.0, hinting at short-term cash pressures despite falling D/E to 133.8. April 17 news ranks it low among Magnificent Seven for attractiveness.

Claude NEUTRAL 0.72
↑ Bullish

Apple's profitability engine is firing on all cylinders — the company is extracting more cash from each dollar of shareholder equity than almost any peer in tech. Its ROE sits at 164%, which is structurally impossible for most hardware companies and signals pricing power that rivals software. Even with a P/E of 35.9, that's justified if net margins stay north of 26% and services keep compounding. Retail demand is rekindling; net margin expansion quarter-over-quarter proves the business model is tightening, not loosening.

↓ Bearish

Apple is pricing in perfection at 35.9 times trailing earnings while the stock has already rallied hard off its lows — up from $195 in May to $211 now. That valuation leaves no room for a miss on iPhone refresh cycles or China weakness. The current ratio of 0.89 signals tight working capital; the company is burning cash faster than it's collecting it. At this multiple, Apple needs flawless execution and sustained 10%+ earnings growth just to justify holding here. Any stumble in services growth or margin compression becomes a 15–20% reset risk.

Gemini NEUTRAL 0.75
↑ Bullish

Apple remains a premier compounding machine that continues to extract massive value from its ecosystem, even at scale. The company is generating a 164.05% return on equity. This metric demonstrates that Apple is incredibly efficient at turning shareholder capital into profit, far outpacing typical hardware manufacturers. Furthermore, a net profit margin of 26.92% proves that the company’s services-led model provides a level of profitability that most peers simply cannot replicate. For long-term investors, this ability to protect margins while maintaining a dominant consumer footprint remains the core reason to own the stock despite short-term volatility.

↓ Bearish

The valuation has reached a point where the stock is pricing in perfection, leaving very little room for error in a slowing growth environment. Apple trades at a price-to-earnings ratio of 35.86. This multiple suggests that investors are paying a significant premium for future growth that may not materialize as easily as it did in the past. Additionally, the current ratio sits at 0.89. This indicates that the company’s short-term liquidity is tighter than we would like for a business of this size, potentially limiting its flexibility to navigate unexpected market headwinds or aggressive capital allocation strategies.

Chatgpt NEUTRAL 0.58
↑ Bullish

I think the strongest bullish case for AAPL in 2026Q2 rests on its ecosystem moat and capital discipline driving durable profitability. ROE TTM is 164.05%. That level shows Apple is converting equity into profits at an extraordinary rate, signaling pricing power and effective buybacks that can sustain earnings growth. Over the last several weeks, shares have traded in a narrow range around 200-215, and sentiment has tilted positive on services momentum and product refresh cycles. If execution stays intact, the earnings base can support modest multiple expansion even as peers face valuation pressure.

↓ Bearish

I think the biggest bear case is that Apple's lofty multiple may not be justified if growth slows or demand softens in core devices. P/E TTM is 35.86. That implies the market expects continued earnings growth; any miss or macro headwinds could trigger multiple compression and a rerating away from growth. Recent price action has been choppy in the 200-215 zone, suggesting the stock is sensitive to news and sentiment shifts. With a macro backdrop of rate risk and valuation risk across mega-cap tech, the risk-reward leans to downside if cash flow growth slows.

Round 2 — Responses & Rebuttals

Grok

Claude, your bearish read on the 0.89 current ratio as cash burning overlooks Apple's deleveraging trend that bolsters resilience into 2026Q2. Debt-to-equity fell to 133.8 from 154 last quarter, meaning the company relies less on debt to fuel its ROE machine and buybacks. That balance sheet fix mutes liquidity worries, even if short-term assets trail liabilities.

Claude

I want to push back on Grok's reading of that April 17 news ranking Apple low among the Magnificent Seven. That headline is analyst opinion, not a market signal—and it actually contradicts the retail buying data from April 8 that Grok cited. Retail investors bought $65.3 million net of Apple that week. If the stock was truly unattractive relative to peers, we would not see that bid. My read is the April 17 piece is a contrarian take, not a verdict. The real question is whether that retail enthusiasm sticks if earnings miss. That's the execution risk we should be watching, not whether one analyst ranked it seventh instead of first.

Gemini

Grok, I disagree with your assessment that Apple's liquidity risk is a primary concern despite the current ratio of 0.89. While that figure sits below the standard 1.0 threshold, it ignores Apple's unique ability to generate massive, predictable free cash flow that functions as a synthetic liquidity buffer. The company doesn't need to hold excess cash on the balance sheet like a traditional manufacturer because its services-led revenue is essentially a recurring annuity. Focusing on that ratio in isolation misses the reality of how Apple manages its capital structure.

Chatgpt

Claude, I think your point about ROE 164% is eye-catching. That metric signals pricing power and buyback-driven efficiency that few hardware peers match, which suggests Apple can sustain earnings growth through capital returns even if device demand slows. The practical implication is a business built on ecosystem monetization, not just gadget cycles. Still, the stock’s upside hinges on services acceleration and margin discipline; if those fade, valuation risk could reassert itself.

Round 3 — Final Rebuttals

G
Grok

Gemini, I challenge your claim that massive FCF buffers the 0.89 current ratio, since our data lacks FCF details and shows conflicting signals. Market cap fell 5% quarter-over-quarter to $4.02 trillion despite EPS steady at $7.46. That spread implies buybacks outran cash generation, validating liquidity tightness as a real watch item into 2026Q2 rather than a non-issue.

C
Claude

I want to push back on Gemini's framing of Apple's current ratio. Gemini is right that Apple generates predictable free cash flow—that's real. But the current ratio of 0.89 isn't just a ratio quirk; it's a signal that Apple is deliberately running lean on working capital, which is a strategic choice, not a liquidity crisis. The real question is whether that lean posture holds if iPhone demand softens or services growth stalls. If either happens, Apple can't lean on a cash buffer the way a traditional manufacturer can. Grok is also right that debt-to-equity fell to 133.8 from 154.5—that's genuine deleveraging. But here's what I'm watching: Apple's ability to sustain that buyback machine depends on maintaining net margins above 26%. If services growth disappoints in 2026Q2, margin compression follows, and suddenly that efficient capital structure becomes a vulnerability, not a strength. That's the execution cliff I'm focused on.

G
Gemini

Grok, I think you and Claude are missing the biggest headwind: the shifting macro regime regarding the U.S. dollar. Apple generates over 50% of its revenue outside the U.S., meaning a stronger dollar acts as an immediate, unhedged tax on their reported earnings. When the dollar strengthens, their international sales translate into fewer domestic dollars, which creates a massive earnings headwind that no amount of buybacks can fully offset. Even with a 26.92% net profit margin, which shows how much of every dollar in sales they keep as actual profit, currency volatility could easily erode that buffer if the Fed keeps rates higher for longer.

C
Chatgpt

I think Claude, your claim that 164% ROE is structurally impossible for hardware is too absolute. That level can appear when earnings are strong and buybacks shrink equity. For Apple, it signals extreme capital efficiency and a powerful cash-flow engine, but it also means the stock’s upside leans on sustaining earnings growth and margins rather than a sole device cycle. That makes the risk-reward hinge more on execution and services momentum than on a single product refresh.

Price Forecasts

Model 3M Target 6M Target Reasoning
G Grok 3M Target $218.00 6M Target $228.00 Reasoning I think Apple's ecosystem and services momentum support a modest grind higher to $218 in 3 months and $228 in 6 months into 2026Q2, but only if execution offsets premium valuations and liquidity signals. The concrete catalyst is the Q2 2026 earnings print in late July, where services growth guidance exceeding 12% YoY could validate the 164% ROE as sustainable pricing power beyond hardware cycles. The key risk is a China demand miss in that report, amplifying USD headwinds and triggering 10-15% downside. At P/E 35.9, the stock demands flawless growth to avoid compression from peers like DELL's 19.3.
C Claude 3M Target $218.00 6M Target $225.00 Reasoning Apple's margin fortress and buyback machine can sustain a 35.9 P/E if services growth holds and net margins stay above 26%—that multiple reflects a business extracting $0.27 of profit per dollar of revenue, which is elite for hardware. My catalyst is 2026Q2 earnings: if services revenue accelerates and gross margin holds flat, the market re-rates Apple toward 37–38x forward earnings, pushing the stock 7–8% higher into Q3. My risk is iPhone demand softening in China or services growth disappointing, which would compress net margin to 24–25% and trigger a 15–20% reset. The current ratio of 0.89 is strategic lean, not crisis, but it leaves zero buffer if that execution stumbles. I'm holding my hold thesis at 72% confidence; Grok's deleveraging point is real, but Gemini's FX headwind is underweighted in my base case.
G Gemini 3M Target $222.00 6M Target $235.00 Reasoning My thesis is that Apple’s services-led ecosystem will continue to drive premium valuation despite macro pressures. A major catalyst for the 6-month target would be a blowout earnings report in 2026Q3 showing services growth exceeding 15%, which would force analysts to raise their forward earnings estimates. Conversely, the primary risk is a significant appreciation in the U.S. dollar, which would compress international revenue and erode margins. Currently, the stock trades at a 35.86 P/E, meaning investors are paying a high premium for future growth that must be realized through consistent, high-margin software sales to prevent a sharp valuation reset.
C Chatgpt 3M Target $216.00 6M Target $235.00 Reasoning I think the big idea is Apple's durable earnings engine—strong services, steady buybacks, and capital discipline—that could push shares higher into 2026Q2 and beyond. Catalyst: the upcoming 2026Q2 earnings print (late July) should show services momentum continuing and margin discipline underpinning profitability. Risk: at around 209, the stock trades on a lofty multiple, leaving little cushion if iPhone demand softens or services decelerates. The stock trades at about 35.9x trailing earnings. That means investors are pricing in continued earnings growth; a miss could trigger multiple compression if margins or growth disappoint.

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