Apple Stock Price Hits Record High at $340, Wall Street Sees $400 Target
Apple's stock price has broken through $340 and reached an all-time high on July 28, surpassing $5 trillion in market capitalization. The company's resilience and rebounding strength in 2026 have led to a 25% year-to-date (YTD) increase, making it the strongest performer among the Magnificent Seven US tech stocks.
The stock price fluctuated between $240-$280 from January to March before breaking out in April. A record-breaking Q2 earnings report announced at the end of April further boosted its growth, with revenue increasing 17% year-over-year to $111.2 billion and EPS rising 22% year-over-year to $2.01.
Apple's asset-light AI strategy has gained market recognition, setting it apart from other tech giants that focus on self-developing ultra-large-scale foundation models. This strategy keeps its capital expenditure at only about 2% of revenue, far below the 10%-40% range seen in other companies like Meta.
Despite a short-term overbought condition and technical pullback pressure, Wall Street firms are optimistic about Apple's fundamentals, with Wedbush targeting $400 as the highest price target currently given to the company.