Apple Posts Record Quarter But Analysts Doubt $450 Price Target

Apple reported its strongest June quarter ever with $109.42 billion in revenue and double-digit growth across key segments.

The tech giant's sales were fueled by strong demand for its iPhone, services, and other products.

Despite a 1,254% gain over the past decade, Wall Street analysts remain cautious about Apple's stock due to margin pressures from rising memory costs and supply constraints.

The company's shares trade at around 33 times forward earnings per share (EPS), offering potential upside if AI-driven services and iPhone demand continue to grow.

However, reaching a price target of $450 per share by 2027 would require significant earnings growth and margin recovery, which may be challenging given the current market conditions.