Apple's Stock Flirts with $5T as iPhone Duo Drives Earnings Momentum

Apple's stock price continues to soar, flirting once again with the $5 trillion market capitalization threshold. The company reached an all-time intraday high of $345.34 on Tuesday before closing at $339.75, giving it a market cap of approximately $4.96 trillion.

The iPhone Duo, Apple's first foldable smartphone, is expected to play a significant role in the company's earnings momentum. Analysts are optimistic about the device's potential, with some predicting that it could generate up to 10% of iPhone revenue in FY27.

Bank of America analyst Wamsi Mohan has a $370 price target on Apple, significantly above its current share price. JPMorgan analyst Samik Chatterjee also expects Apple to maintain a positive volume cycle despite higher prices, citing leasing arrangements and trade-ins as mechanisms that could help consumers absorb price increases.

However, rising memory costs remain a threat to Apple's margins. Morningstar senior equity analyst William Kerwin forecasts margins to compress by around 1% in fiscal 2027 before recovering in 2028 as supply constraints ease.