Apple Stock Hits $336, But Bears Warn of Overvaluation Risk

Apple's stock price has reached $336, sparking concerns that it may be overvalued. Despite strong fundamentals, including nine consecutive EPS beats and 16.4% revenue growth, analysts warn that the current multiple of 44x trailing earnings is too high for a hardware-led company.

The company's ability to deliver a Siri AI-driven upgrade wave is uncertain, and investors are being asked to underwrite this potential benefit at a price already above the analyst target of $328.22. Tim Cook declined to quantify the expected impact of Siri AI on Apple's revenue, adding to the uncertainty.

Despite these concerns, Apple's fundamentals remain strong, with a cash fortress of $147 billion and an aggressive buyback program. However, analysts caution that the current price already assumes most of the good news, leaving little margin for safety for new buyers.