Apple Stock Hits Record High, But Analysts See Limited Upside

Apple's stock price reached an all-time high of $340.08 on July 28, making it the second company in history to be worth over $5 trillion.

The stock has since pulled back to around $312.41, a 8% decline from its peak.

Despite this drop, analysts' average price target remains at around $323, only 3% above the current price.

This cautious outlook is due in part to Apple's recent earnings call, which revealed a memory shortage affecting every AI-exposed supply chain.

CEO Tim Cook stated that Apple is experiencing 'a 100-year flood on the memory pricing with exponential increases,' leading to increased prices for Mac and iPad products.