Apple Stock Near Record High Amid Valuation Debate
Apple stock is trading near its recent peak of $344.57 as of September 2, 2026, after closing at $324.96 on Nasdaq.
Analysts are divided over Apple's valuation, with Jefferies downgrading the stock to Underperform from Hold and lowering its price target by 8% to $263.66 from $285.56, implying an 18% downside from the current share price.
However, consensus data shows a Moderate Buy stance, with 16 Buy recommendations, 10 Hold ratings, and four Sell calls over the past three months, suggesting around 4.6% upside from the current level.
The valuation debate is sharpened by Apple's massive market capitalization of $4.742 trillion as of September 2, 2026, which has reached unprecedented levels and makes it difficult for analysts to justify further multiple expansion.