Wall Street issues bullish call on Apple as iPhone demand jumps. Bullish Wall Street call tied to rising iPhone demand points to short-term positive sentiment for Apple shares.
| Nov 25 | Feb 26 | May 26 | Aug 26 | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Buy | — | — | — | — | — | — | — | — | — | — | — | — |
| Sell | 4 | 1 | — | — | — | — | 3 | 3 | 1 | — | 3 | 3 |
| total | individual payouts | |
|---|---|---|
| 2028 | ‡‡‡‡‡ |
|
| 2027 | ‡‡‡‡‡ |
|
| 2026 | 1.07 |
—
—
—
|
| 2025 | 1.03 |
—
—
—
—
|
| 2024 | 0.99 |
—
—
—
—
|
| 2023 | 0.95 |
—
—
—
—
|
| 2022 | 0.91 |
—
—
—
—
|
| 2021 | 0.87 |
—
—
—
—
|
| 2020 | 0.81 |
—
—
—
—
|
| 2019 | 0.76 |
—
—
—
—
|
| 2018 | 0.71 |
—
—
—
—
|
| 2017 | 0.62 |
—
—
—
—
|
| 2016 | 0.56 |
—
—
—
—
|
| 2023 | 2024 | 2025 | Q'26 | |
|---|---|---|---|---|
| Cash | 61,555.00 | 65,171.00 | 54,697.00 | 62,399.00 |
| Receivables | 60,985.00 | 66,243.00 | 72,957.00 | 58,907.00 |
| Inventory | 6,331.00 | 7,286.00 | 5,718.00 | 11,092.00 |
| Other | 14,695.00 | 14,287.00 | 14,585.00 | 17,420.00 |
| 143,566.00 | 152,987.00 | 147,957.00 | 149,818.00 |
| 2023 | 2024 | 2025 | Q'26 | |
|---|---|---|---|---|
| Payables | 62,611.00 | 68,960.00 | 69,860.00 | 64,525.00 |
| ST’ Debt | 15,807.00 | 20,879.00 | 20,329.00 | 13,004.00 |
| Other | 58,829.00 | 78,304.00 | 66,387.00 | 62,259.00 |
| 145,308.00 | 176,392.00 | 165,631.00 | 149,326.00 |
| 10y | 5y | 3y | |
| Sales | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ |
| Cash Flow | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ |
| Earnings | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ |
| Book Value | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ |
| Dec | Mar | Jun | Sep | Year | |
|---|---|---|---|---|---|
| ’26 | 143,756.00 | 111,184.00 | 109,417.00 | — |
—
|
| ’25 | 124,300.00 | 95,359.00 | 94,036.00 | 102,466.00 |
416,161.00
|
| ’24 | 119,575.00 | 90,753.00 | 85,777.00 | 94,930.00 |
391,035.00
|
| ’23 | 117,154.00 | 94,836.00 | 81,797.00 | 89,498.00 |
383,285.00
|
| ’22 | 123,945.00 | 97,278.00 | 82,959.00 | 90,146.00 |
394,328.00
|
| ’21 | 111,439.00 | 89,584.00 | 81,434.00 | 83,360.00 |
365,817.00
|
| ’20 | 91,819.00 | 58,313.00 | 59,685.00 | 64,698.00 |
274,515.00
|
| Dec | Mar | Jun | Sep | Year | |
|---|---|---|---|---|---|
| ’26 | 53,925.00 | 28,702.00 | 34,369.00 | — |
—
|
| ’25 | 29,935.00 | 23,952.00 | 27,867.00 | 29,728.00 |
111,482.00
|
| ’24 | 39,895.00 | 22,690.00 | 28,858.00 | 26,811.00 |
118,254.00
|
| ’23 | 34,005.00 | 28,560.00 | 26,380.00 | 21,598.00 |
110,543.00
|
| ’22 | 46,966.00 | 28,166.00 | 22,892.00 | 24,127.00 |
122,151.00
|
| ’21 | 38,763.00 | 23,981.00 | 21,094.00 | 20,200.00 |
104,038.00
|
| ’20 | 30,516.00 | 13,311.00 | 16,271.00 | 20,576.00 |
80,674.00
|
| Dec | Mar | Jun | Sep | Year | |
|---|---|---|---|---|---|
| ’26 | 51,552.00 | 26,731.00 | 31,914.00 | — |
—
|
| ’25 | 26,995.00 | 20,881.00 | 24,405.00 | 26,486.00 |
98,767.00
|
| ’24 | 37,503.00 | 20,694.00 | 26,707.00 | 23,903.00 |
108,807.00
|
| ’23 | 30,218.00 | 18,941.00 | 28,246.00 | 15,476.00 |
99,584.00
|
| ’22 | 44,163.00 | 25,652.00 | 20,790.00 | 20,838.00 |
111,443.00
|
| ’21 | 35,263.00 | 21,712.00 | 19,001.00 | 16,977.00 |
92,953.00
|
| ’20 | 28,409.00 | 11,458.00 | 14,706.00 | 18,792.00 |
73,365.00
|
| Dec | Mar | Jun | Sep | Year | |
|---|---|---|---|---|---|
| ’26 | 2.84 | 2.01 | 2.02 | — |
—
|
| ’25 | 2.40 | 1.65 | 1.57 | 1.85 |
7.46
|
| ’24 | 2.18 | 1.53 | 1.40 | 0.97 |
6.08
|
| ’23 | 1.88 | 1.52 | 1.26 | 1.46 |
0.01
|
| ’22 | 2.10 | 1.52 | 1.20 | 1.29 |
6.11
|
| ’21 | 1.68 | 1.40 | 1.30 | 1.24 |
5.61
|
| ’20 | 1.25 | 0.64 | 0.65 | 0.73 |
3.28
|
| 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | 2027 | 2028 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 125.87 | 124.17 | 164.08 | 169.21 | — | — | — |
Low Price
|
| ‡‡‡‡‡ | ‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 182.94 | 199.62 | 260.10 | 288.62 | — | — | — |
High Price
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 164,000 | 161,000 | 164,000 | 166,000 | — | — | — |
Employees
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 2.40 | 2.38 | 2.38 | 2.51 | — | — | — |
Revenue/Emp
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 394,328.00 | 383,285.00 | 391,035.00 | 416,161.00 | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ |
Revenue
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 43.31% | 44.13% | 46.21% | 46.91% | — | — | — |
Gross Margin
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 119,103.00 | 113,736.00 | 123,485.00 | 132,729.00 | ‡‡‡‡‡ | — | — |
EBT
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 30.20% | 29.67% | 31.58% | 31.89% | ‡‡‡ | ‡‡‡ | ‡‡‡ |
EBT Margin
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 99,803.00 | 96,995.00 | 93,736.00 | 112,010.00 | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ |
Net Income
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 11,104.00 | 11,519.00 | 11,445.00 | 11,698.00 | — | — | — |
Depreciation
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 24.32 | 24.34 | 25.48 | 27.84 | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ |
Revenue/Sh
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡ | ‡‡‡‡ | 6.15 | 0.01 | 6.11 | 7.49 | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡ |
Earnings/Sh
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 7.53 | 7.02 | 7.71 | 7.46 | ‡‡‡‡ | — | — |
Cash Flow/Sh
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | (0.66) | (0.70) | (0.62) | (0.85) | ‡‡‡ | ‡‡‡ | ‡‡‡ |
Capex/Sh
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 6.87 | 6.33 | 7.09 | 6.61 | — | — | — |
Free CF/Sh
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 3.12 | 3.95 | 3.71 | 4.93 | ‡‡‡‡‡ | — | — |
Book Value/Sh
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 16,215.96 | 15,744.23 | 15,343.78 | 14,948.50 | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ |
Shares
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 22.51 | 28.21 | 38.26 | 34.04 | ‡‡‡‡ | ‡‡‡‡ | ‡‡‡‡ |
PE Ratio
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 5.68 | 7.14 | 9.14 | 9.15 | ‡‡‡ | ‡‡‡ | ‡‡‡ |
PS Ratio
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 44.23 | 44.02 | 62.78 | 51.62 | ‡‡‡ | ‡‡‡ | ‡‡‡ |
PB Ratio
|
| ‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 5.87 | 7.27 | 9.25 | 9.25 | ‡‡‡‡ | ‡‡‡‡ | ‡‡‡‡ |
EV/Sales
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 20.75 | 29.90 | 35.33 | 41.70 | — | — | — |
EV/FCF
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 122,151.00 | 110,543.00 | 118,254.00 | 111,482.00 | ‡‡‡ | ‡‡‡ | ‡‡‡ |
Op' Cash Flow
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | (10,708.00) | (10,959.00) | (9,447.00) | (12,715.00) | ‡‡‡‡‡ | ‡‡‡‡‡ | — |
Capex
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 111,443.00 | 99,584.00 | 108,807.00 | 98,767.00 | ‡‡‡‡‡ | — | — |
FCF
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | (18,577.00) | (1,742.00) | (23,405.00) | (17,674.00) | — | — | — |
Working Cap'
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 120,069.00 | 111,088.00 | 106,629.00 | 98,657.00 | — | — | — |
Total Debt
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 71,765.00 | 49,533.00 | 41,458.00 | 43,960.00 | — | — | — |
Net Debt
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 50,672.00 | 62,146.00 | 56,950.00 | 73,733.00 | — | — | — |
Sh' Equity
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 28.36% | 27.50% | 26.13% | 30.93% | ‡‡‡‡‡ | — | — |
ROA
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 60.97% | 63.97% | 78.26% | 70.66% | — | — | — |
ROIC
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 175.46% | 171.95% | 157.41% | 171.42% | ‡‡‡‡‡ | — | — |
ROE
|
Apple Inc. stands as a paragon of disruptive innovation, evolving from hardware dominance to a services-driven ecosystem powerhouse, with revenue more than doubling from $216 billion in 2016 to a projected $416 billion in 2025 (7% CAGR), and accelerating to $495 billion by 2027. Despite headwinds like COVID-19, U.S.-China trade tensions, and the 2019 iPhone slowdown, Apple’s resilience shone through, fueled by Apple Silicon transitions, services revenue surges during lockdowns (now ~25% of total), and rebounding device sales. This trajectory, mirrored by a 767% stock price rise since 2017, underscores scalable growth with efficiency: revenue per employee up 34% to $2.5 million, gross margins expanding to 46.2%, and EPS soaring 259% to $7.49 by 2025 via aggressive buybacks.
At its core, Apple’s financial fortress—$109 billion in 2024 free cash flow (105% growth since 2016), ROIC at 78.3%, and ROE at 157%—powers $100+ billion annual shareholder returns while covering debt and funding R&D moonshots like Vision Pro. Valuation multiples, though premium (PE 38x, PS 9.1x), reflect 20%+ EPS growth forecasts and trade at a 19% discount to analyst targets, with historical parallels to App Store booms suggesting undervaluation for long-term holders amid routine insider sells.
Looking ahead, AI integration across 2.4 billion devices, wearables expansion, and emerging market penetration (e.g., India sales doubling YoY) propel revenue to $528 billion by 2028, with net income up 51%. Risks like regulation loom, but Apple’s moat positions it for another decade of outperformance— a compelling case for patient investors eyeing the AI-services renaissance.
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