Apple Stock Price Hits $335 as Market Awaits October Earnings Report
Apple's stock price has been steadily increasing, reaching $335.55, just below its 52-week high of $344.57.
The company's strong Q3 FY2026 print, with revenue up 16% year-over-year and diluted EPS beating estimates by a comfortable margin, has contributed to the rise in stock price.
However, management has already warned that September quarter growth will decelerate to 9-11% year-over-year due to supply constraints and a 2.5 percentage-point FX headwind.
The stock's valuation is also a concern, with a PEG ratio of approximately 2.67x and a price-to-book of over 45x.
Despite this, the Services segment has been driving growth, generating $30.7 billion in Q3 at a 75.6% gross margin, representing 42.4% of total quarterly gross profit.
The market is expecting a beat-and-raise on Apple's October 29 earnings report, which could send the stock price towards $355-$365.