Want to see AAPL full AI Analyst Report?
Top Page
Apple
(NASDAQ:AAPL)
Select Model
Select Model
Rating:82Outperform
Price Target:
$387.00
▲(43.21% Upside)
Action:Reiterated
Date:05/01/26
The score is driven primarily by Apple’s very strong profitability and cash-flow generation, supported by constructive price momentum. Offsetting factors are a valuation that is not inexpensive (low dividend yield) and earnings-call risks around supply constraints, rising memory costs, and higher operating expenses that could pressure near-term margins.
Positive Factors
Cash generation
Apple's extremely strong TTM operating cash flow (~$140B) and FCF (~$129B) with ~95% cash conversion provide durable internal funding for R&D, capex, buybacks and dividends. High cash generation supports strategic flexibility and resilience through device cycles.
Negative Factors
SoC supply constraints
Ongoing advanced SoC node shortages have constrained iPhone and are expected to limit supply for several Mac models for months. Persistent chipset supply bottlenecks can delay product rollouts, reduce near‑term revenue capture, and raise execution risk across key hardware cycles.
Read all positive and negative factors
Positive Factors
Negative Factors
Cash generation
Apple's extremely strong TTM operating cash flow (~$140B) and FCF (~$129B) with ~95% cash conversion provide durable internal funding for R&D, capex, buybacks and dividends. High cash generation supports strategic flexibility and resilience through device cycles.
Read all positive factors
Apple Key Performance Indicators (KPIs)
Any
Revenue by Geography
Breaks down revenue across different regions, revealing where the company is strongest and where it may face risk or growth potential due to local economic conditions or market share shifts.
Breaks down revenue across different regions, revealing where the company is strongest and where it may face risk or growth potential due to local economic conditions or market share shifts.
Data provided by:
The Fly
The FlyApple (AAPL) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$4.89T
Dividend Yield0.41%
Average Volume (3M)59.11M
Price to Earnings (P/E)40.2
Beta (1Y)1.10
Revenue Growth12.76%
EPS Growth28.91%
CountryUS
Employees166,000
SectorTechnology
Sector Strength88
IndustryConsumer Electronics
Share Statistics
EPS (TTM)8.29
Shares Outstanding14,687,356,000
10 Day Avg. Volume42,311,147
30 Day Avg. Volume59,108,124
Financial Highlights & Ratios
PEG Ratio1.51
Price to Book (P/B)51.79
Price to Sales (P/S)9.18
P/FCF Ratio38.66
Enterprise Value/Market Cap<0.01
Enterprise Value/Revenue<0.01
Enterprise Value/Gross Profit<0.01
Enterprise Value/Ebitda<0.01
Forecast
1Y Price Target
$328.69Price Target Upside21.63% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering29
EPS Forecast (FY)8.76
Revenue Forecast (FY)$478.08B
Apple Business Overview & Revenue Model
Company Description
Apple Inc. is a global technology corporation that specializes in the conceptualization, production, and sale of a diverse suite of electronic devices. Its comprehensive hardware lineup features the well-known iPhone smartphones, Mac personal comp...
How the Company Makes Money
Apple makes money primarily by selling hardware devices and by monetizing services that run on or complement its installed base of devices. (1) Product revenue: The largest portion of Apple’s revenue historically comes from selling iPhone, with ad...
Apple Earnings Call Summary
Earnings Call Date:Apr 30, 2026
(Q2-2026)
| % Change Since: |
Next Earnings Date:Jul 30, 2026
Earnings Call Sentiment Positive
The call communicated strong operating momentum: robust revenue growth (17% YoY), record Services and EPS, expanding installed base, continued large capital returns, and meaningful product demand—notably iPhone and MacBook Neo. Offsetting these positives were supply constraints (SoC-driven), rising memory costs pressuring product margins (products gross margin down 200 bps sequentially), and higher operating expenses as Apple scales R&D and AI investments. Management provided constructive guidance for June but flagged ongoing cost and supply headwinds. Overall, the positives (broad-based growth, record metrics, cash returns, and strategic investments) materially outweigh the near-term operational and margin challenges, supporting a favorable outlook while warranting monitoring of memory cost and supply dynamics.Positive Updates
Record Quarter Revenue and Strong Top-Line Growth
Total revenue $111.2B, up 17% year-over-year and a March record; March revenue records set across every geographic segment and in both developed and emerging markets.
Negative Updates
Supply Constraints on iPhone and Mac
Supply constraints primarily driven by availability of advanced SoC nodes affected iPhone in March and are expected to primarily impact several Mac models (Mac mini, Mac Studio, MacBook Neo) into the June quarter; company said Mac mini and Mac Studio may take several months to reach supply-demand balance.
Read all updates
Q2-2026 Updates
Positive
Negative
Record Quarter Revenue and Strong Top-Line Growth
Total revenue $111.2B, up 17% year-over-year and a March record; March revenue records set across every geographic segment and in both developed and emerging markets.
Read all positive updates
Company Guidance
For the June quarter Apple guided total company revenue growth of 14%–17% year‑over‑year (the outlook “comprehends” constrained supply and assumes current tariff policies and no worsening macro), with Services expected to grow at a year‑over‑year rate similar to March after removing the ~2.5 percentage‑point FX tailwind that benefited March (Services saw a slightly larger FX benefit). They expect company gross margin of 47.5%–48.5%, operating expenses of $18.8–19.1 billion, other income & expense around $250 million (excluding mark‑to‑market on minority investments), and a tax rate of ~17%; management also called out a difficult iPad compare (A16 launch last year). Management reiterated supply constraints—primarily on Mac (Mac mini, Mac Studio and MacBook Neo) for June—and warned of significantly higher memory costs embedded in the June guidance (partly offset by carry‑in inventory) with memory’s impact likely to increase beyond the quarter.Apple Financial Statement Overview
Summary
Income Statement
92
Very Positive
Balance Sheet
74
Positive
Cash Flow
90
Very Positive
| Breakdown | TTM | Sep 2025 | Sep 2024 | Sep 2023 | Sep 2022 | Sep 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 451.44B | 416.16B | 391.04B | 383.29B | 394.33B | 365.82B |
| Gross Profit | 216.07B | 195.20B | 180.68B | 169.15B | 170.78B | 152.84B |
| EBITDA | 160.33B | 144.43B | 134.93B | 129.19B | 133.14B | 123.14B |
| Net Income | 122.58B | 112.01B | 93.74B | 97.00B | 99.80B | 94.68B |
Balance Sheet | ||||||
| Total Assets | 371.08B | 359.24B | 364.98B | 352.58B | 352.75B | 351.00B |
| Cash, Cash Equivalents and Short-Term Investments | 68.51B | 54.70B | 65.17B | 61.55B | 48.30B | 62.64B |
| Total Debt | 84.71B | 112.38B | 119.06B | 123.93B | 132.48B | 136.52B |
| Total Liabilities | 264.59B | 285.51B | 308.03B | 290.44B | 302.08B | 287.91B |
| Stockholders Equity | 106.49B | 73.73B | 56.95B | 62.15B | 50.67B | 63.09B |
Cash Flow | ||||||
| Free Cash Flow | 129.17B | 98.77B | 108.81B | 99.58B | 111.44B | 92.95B |
| Operating Cash Flow | 140.22B | 111.48B | 118.25B | 110.54B | 122.15B | 104.04B |
| Investing Cash Flow | -8.57B | 15.20B | 2.94B | 3.71B | -22.35B | -14.54B |
| Financing Cash Flow | -114.24B | -120.69B | -121.98B | -108.49B | -110.75B | -93.35B |
Apple Technical Analysis
Positive
270.23
Price Trends
301.64
Positive
281.43
Positive
273.48
Positive
Market Momentum
7.88
Negative
71.44
Negative
88.76
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AAPL, the sentiment is Positive. The current price of 270.23 is below the 20-day moving average (MA) of 303.63, below the 50-day MA of 301.64, and below the 200-day MA of 273.48, indicating a bullish trend. The MACD of 7.88 indicates Negative momentum. The RSI at 71.44 is Negative, neither overbought nor oversold. The STOCH value of 88.76 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for AAPL.
Apple Risk Analysis
Apple disclosed 28 risk factors in its most recent earnings report. Apple reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Apple Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
82 Outperform | $4.89T | 40.20 | 146.69% | 0.41% | 12.76% | 28.91% | |
82 Outperform | $1.69T | 23.77 | 33.22% | 0.32% | 26.18% | 6.07% | |
80 Outperform | $2.98T | 23.80 | 33.13% | 0.93% | 17.87% | 29.63% | |
78 Outperform | $4.31T | 26.77 | 38.98% | 0.26% | 17.77% | 46.22% | |
71 Outperform | $253.72B | 30.58 | -363.24% | 1.45% | 38.87% | 99.71% | |
61 Neutral | $37.18B | 12.37 | -10.20% | 1.83% | 8.50% | -7.62% | |
58 Neutral | $125.41B | -62.68 | -4.05% | 0.41% | -2.74% | -126.26% |
* Technology Sector Average
AAPL
Apple
333.26
122.91
58.43%
META
Meta Platforms
664.54
-37.44
-5.33%
GOOGL
Alphabet Class A
354.46
169.93
92.08%
MSFT
Microsoft
401.10
-104.91
-20.73%
SONY
Sony Group
21.39
-1.93
-8.30%
DELL
Dell Technologies
391.38
262.11
202.75%
Apple Corporate Events
Executive/Board Changes
Apple Announces CEO Transition to John Ternus
Neutral
Apr 20, 2026
On April 20, 2026, Apple announced that Tim Cook will step down as Chief Executive Officer and become Executive Chair of the Board, effective September 1, 2026, marking a major leadership transition at the company. The Board has appointed John Ter...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.