Valued at a market cap of $5 trillion, Cupertino, California-based Apple Inc. (AAPL) is a prominent tech company that designs, manufactures, and markets smartphones, personal computers, tablets, wearables, and accessories.
This technology powerhouse has outperformed the broader market over the past 52 weeks. Shares of Apple have gained 29.4% over this time frame, while the broader S&P 500 Index ($SPX) has surged 12%. Moreover, on a YTD basis, the stock is up 28.4%, compared to SPX’s 12.8% rise.
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Narrowing the focus, AAPL has also surpassed the State Street Technology Select Sector SPDR ETF’s (XLK) 24.1% uptick over the past 52 weeks but has trailed its 31.1% rise on a YTD basis.
www.barchart.com Apple cemented its place among the world’s most valuable companies on Oct. 14, becoming only the second publicly traded company after Nvidia (NVDA) to close above a $5 trillion market capitalization.
The tech giant is also doubling down on product innovation. On Oct. 28, Apple unveiled its redesigned MacBook Pro, featuring tandem OLED displays, touchscreen capabilities, and its latest M5 Pro and M5 Max chips. With up to 24 hours of battery life, 128GB of unified memory, and 16TB of storage, the new lineup brings significant upgrades for professional users. Apple shares rose 1.5% in the following trading session, signaling a positive investor response to the launch.
Meanwhile, Apple’s first foldable smartphone, the iPhone Duo, is generating considerable buzz. Launched on Oct. 23, the device has reportedly encountered supply shortages amid strong demand, prompting Apple to ask Foxconn and other suppliers to increase shipments by 44%, from 9.7 million to 14 million units over 12 months. Wedbush Securities has described demand as potentially exceptional, while favorable reviews have further strengthened optimism.
For FY2026 that ended in September, analysts expect Apple’s EPS to grow 17.3% year over year to $8.75. The company’s earnings surprise history is promising. It exceeded the consensus estimates in each of the last four quarters.
Among the 40 analysts covering the stock, the consensus rating is a "Moderate Buy,” which is based on 19 “Strong Buy,” three “Moderate Buy,” 15 “Hold,” one “Moderate Sell,” and two "Strong Sell” ratings.
www.barchart.com The configuration is slightly bearish than a month ago, with 20 analysts suggesting a "Strong Buy” rating.
Apple received a bullish boost ahead of earnings as Monness, Crespi, Hardt raised its price target to $355 from $335 on Oct. 28, while maintaining a “Buy” rating. He highlighted Apple’s product innovation and expanding Apple Intelligence capabilities as key growth catalysts, while a potential OLED touchscreen MacBook Pro launch could further boost investor enthusiasm. The report will also mark CEO John Ternus’s first earnings call, with investors watching for updates on financial performance and growth prospects.
While the stock currently trades above its mean price target of $331.48, its Street-high price target of $400 suggests a 14.6% potential upside from the current levels.
On the date of publication, Kritika Sarmah did not directly have a position in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
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