Apple Stock Price Targets $600 by 2030 Amid Bullish AI Predictions

Apple's stock price has been on a rollercoaster ride lately, trading near $295, about 6% under its all-time high. The question of whether Apple stock can double by 2030 is gaining attention, with some analysts pointing to the company's services growth and steady buybacks as positives.

The bull case for an Apple stock double relies heavily on the company's installed base of over 2.5 billion active devices, which fuels its services arm that has fatter margins than hardware ever did. iPhone revenue climbed more than 21% year-over-year in each of the last two reported quarters, and buybacks have been steady for years, supporting per-share earnings even when growth slows down.

Tim Cook's statement on AI investment is a key part of the bull argument: 'We see AI as one of the most profound technologies of our lifetime.' However, shares trade at a price-to-earnings ratio near 35.7, leaving little room for error, and component costs are climbing, hitting gross margins directly.

Analysts expect EPS to grow near 12.9% a year through fiscal 2028, below the roughly 15% growth needed for an Apple stock double. Given this, most models treat a full Apple stock double as less likely than not by 2030.