Apple at $336: Strong Fundamentals Meet High Valuation

Apple's stock price has reached $336.13, surpassing the analyst target of $328.22, but whether this is expensive or not depends on various factors.

The company's fundamentals are strong, with nine consecutive earnings beats and a market capitalization of $4.91 trillion. Apple's revenue hit $109.42 billion in Q3 2026, up 16.4% year-over-year, driven by iPhone sales and record Services revenue.

However, bears argue that the stock is overvalued due to its high price-to-earnings ratio of 44x trailing earnings and 35x forward earnings. Moreover, memory costs have risen for three consecutive quarters, and regulatory friction in Greater China could impact Apple's growth.

The success of Siri AI, which was unveiled at WWDC26, remains uncertain, and investors are being asked to underwrite a potential upgrade wave without knowing the magnitude of its impact.