Apple Share Price Soars Despite Valuation Concerns

Apple's upcoming product event on September 9 has investors eagerly anticipating how the iPhone 18 lineup and first foldable iPhone might absorb higher component costs, pricing shifts, and reported supply constraints. The company's share price has eased 2.5% over the last session to $319.97, yet it still shows positive momentum with a 6.11% 90-day return and an 18.07% year-to-date return.

Over longer horizons, Apple's 1-year total shareholder return stands at 33.99%, and its 5-year total shareholder return is 120.21%. Bulls see the recent share price strength and upcoming iPhone cycle as proof that the premium and AI story still holds. However, bears point to higher costs, supply risks, and new legal overhangs.

The current valuation signals from Simply Wall St suggest that Apple may be 26% overvalued, with its last close at $319.97 sitting well above the narrative fair value of $253.43. This suggests a richer starting point for the stock compared to the current product cycle.