Apple (AAPL) stock has been in an uptrend with returns of over 50% in the last 52 weeks. The iPhone 17 can be considered as the single most important reason for the rally. In Q2 FY26, Tim Cook acknowledged that the iPhone 17 family is the “most popular lineup” in the company’s history.
Apple is leveraging on the popularity of iPhone 17 to further boost sales. Recently, the company announced price cuts for some of its iPhone 17 models in China ahead of the annual 618 shopping holiday.
More Top Stocks Daily: Go behind Wall Street’s hottest headlines with Barchart’s Active Investor newsletter.
According to Wedbush Securities, this is an attempt toward gaining market share ahead of the launch of iPhone 18. Further, Wedbush believes that the discounts can be potentially offset by “higher margin service/software fees.” Overall, this move is likely to boost sales and keep the growth momentum for Apple intact.
About Apple Stock
Headquartered in Cupertino, California, Apple is a technology giant with a market valuation of about $4.4 trillion. The company manufactures and markets smartphones, personal computers, tablets, wearables, and accessories. Apple’s products include the iPhone, Mac, iPad, Air Pods, and watch, among others.
For the first six months of FY26, Apple reported revenue growth of 16% on a year-on-year basis to $254.9 billion. The iPhone business was the key growth driver coupled with growth in the services segment. Apple’s business is also a cash flow machine and operating cash flow for the first six months of FY26 was $82.6 billion.
From a geographic perspective, Apple reported 84.7% of 1H FY26 revenue from Americas, Europe, and Greater China. While these regions remain cash flow drivers, Apple has ample scope for inroads into emerging markets of India, Southeast Asia, and Latin America.
Backed by healthy sales for iPhone 17, AAPL stock has trended higher by 13.6% in the last six months. With an attractive pipeline of products, it’s likely that the momentum will remain positive.
www.barchart.com New Products to Drive Growth
In the iPhone segment, it’s likely that strong growth will sustain. Besides Apple benefiting from cutting prices for iPhone 17 in China, the impending product launches are attractive.
To put things into perspective, iPhone 18 Pro and Pro Max are expected to be launched in September 2026. This will have a positive impact on growth through 2027. At the same time, Apple’s first foldable device is likely to be launched in the September event.
As Apple focuses on AI hardware, there are speculations on potential launch of AI-driven wearables that include smart glasses and AirPods.
It’s worth noting that the global wearables market is expected to grow at a CAGR of 15.9% between 2025 and 2030. By the end of the decade, the market size is expected at $176.77 billion. This implies significant room for growth in this segment.
Overall, with the factor of continued innovation, Apple is positioned to launch new products that drive growth and cash flows.
What Do Analysts Say About AAPL Stock?
Based on 42 analysts with coverage, AAPL stock has a consensus “Moderate Buy” rating. While 23 analysts have a “Strong Buy” rating for AAPL stock, three have a “Moderate Buy,” and 15 have a “Hold” rating. One analyst has a bearish view with a “Strong Sell” rating.
The mean price target of $308.19 represents minuscule downside from recent levels. Further, the most bullish price target of $400 suggests that AAPL could climb 29.5% from here.
www.barchart.com Concluding Views
Even after a meaningful rally, AAPL stock looks attractive at a forward price-earnings ratio of 34x. The business is a cash flow machine and there is continued value creation through dividends and share repurchase.
At the same time, the company has growth visibility with new products in the pipeline. It’s worth noting that the company’s chief hardware officer Johny Srouji is focused on speeding up work on future devices. The integration of AI on devices is likely to boost consumer experience and support the company’s brand pull.
On the date of publication, Faisal Humayun Khan did not have (either directly or indirectly) positions 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.
More news from Barchart
Dear Apple Stock Fans, Mark Your Calendars for June 18 Billionaire Philippe Laffont Is Betting Big on ASML Stock as UBS Declares It the ‘Top Chip Stock’ in Europe 3 Reasons Why Nebius Stock Is Reaching New Highs Telecom Stocks Are Surging Ahead of the SpaceX IPO. This Chart Reminds Us All Rockets Come Crashing Back to Earth Eventually.