RESEARCH REPORT
Apple Inc.
AAPL
$344.63
As of 2026-11-01
Research note — 2026-11-01. Educational analysis, not financial advice.
The one-line version
Apple Inc. trades near $344.63 on a trailing multiple of about 39.5x versus its own 5-year median near 31.1x, against contested Street targets and the usual concentration and execution risks. That's the tension. Everything below is the detail.
That's the tension. Everything below is the detail.
1. What you're paying
| Now | Its own 5-year median | Gap | |
|---|---|---|---|
| P/E (trailing) | ~39.5 | ~31.1 | +27% |
| P/E (forward) | ~36.1 | — | — |
| EPS (TTM) | 8.72 | — | — |
| Gross margin | 48.7% | — | — |
What that means in plain terms: the gap versus the company's own history is the growth or durability the market is already pricing. It is not automatically wrong — it is the bet.
Fair-value anchors on file:
- 5-year median P/E multiple: $271.12 — Applies the 5-year median multiple (31.1x) to trailing EPS.
- Street mean target: $332.39 — Average published analyst target.
- Street target midpoint: $325.00 — Midpoint of $245.00–$405.00 published range.
Street targets run from $245.00 to $405.00. A wide spread means the name is contested, not consensus.
2. What the bulls are counting on
- 5 Best High Growth Stocks Outside Big Tech
- 5 Most Profitable Stocks of the Past 5 Years
- Is Apple a Top Tech Stock to transact in Now?
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Bull case, bear case, assumptions, and what to watch next.
3. What the bears see
- MKBHD drops a blunt verdict on Apple's touchscreen MacBook Pro
- The Nasdaq 100 Briefly Fell Into a Correction as the AI Trade Cracks
- Jim Cramer flags Netflix's 'biggest problem,' and it isn't price
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Bull case, bear case, assumptions, and what to watch next.
4. What would have to be true
For the stock to justify ~39.5x rather than its 5-year ~31.1x, roughly all of the following need to neutral:
- Growth or margin durability shows up in the next several reports, not just in narrative.
- Key revenue concentrations survive competitive and regulatory pressure.
- Execution on the current product or services cycle stays on schedule.
- The Street target range compresses as results clarify the contested assumptions.
Ask yourself honestly: how many of those would you bet on individually? Multiply your answers together.
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Bull case, bear case, assumptions, and what to watch next.
5. What to watch next
- Next earnings date: 2027-01-27
- Trailing and forward multiples versus the company's own history
- Segment growth rates in the next 10-Q / earnings release
- Material Form 4 and 13F changes
- Whether the Street high-to-low target spread narrows or widens
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Bull case, bear case, assumptions, and what to watch next.
6. What this note does not do
It doesn't tell you to buy or sell. It won't, ever.
You have the valuation in context, the strongest version of both cases, and the specific assumptions the current price depends on. What you do with that depends on your time horizon, your existing exposure, your risk tolerance, and what else you could do with the money — none of which we know.
If you want someone to tell you what to do, you want a licensed financial adviser, and that is a genuinely reasonable thing to want.
Educational and informational purposes only. Not investment advice and not a recommendation to buy or sell any security. GetStockReport is not a registered investment adviser. Figures are as of 2026-11-01 and go stale quickly — verify against primary sources before acting. All investments carry risk including loss of principal. Past performance does not guarantee future results.
8. Analyst ratings & targets
No recent activity
Analyst opinions change frequently. Past upgrades do not predict future returns.
9. Important news
Nov 4, 2026|Dow Jones Futures: Elections, Plunging Oil Fuel Big Rally; Apple, Microsoft, Amazon Flash Buy Signals. CoreWeave, SpaceX Skid.(Yahoo)
Elections and diving oil prices sparked a stock market surge. Stocks from many sectors flash buy signals, but avoid this area.
Nov 4, 2026|Apple Reportedly Tightens the Belt On Employee AI Budgets Amid Cost-Cutting Drive(Yahoo)
Apple Inc. is scaling back daily AI usage budgets for engineers and staff as part of a broader push to trim corporate spending, Bloomberg reported.
Nov 4, 2026|The Nasdaq-100 Is Outperforming Nvidia, Microsoft, Amazon, Meta Platforms, Alphabet, and Tesla This Year. Here's My Favorite Low-Cost ETF to Buy the Dip.(Yahoo)
Many megacap growth stocks are underperforming the major indexes this year.
Nov 4, 2026|Dow Heads for Best Post-Election Day Peformance in Decades(Yahoo)
The Dow was on track for its best post-Election Day performance since 1986.
Nov 4, 2026|Apple reportedly lowers daily AI spending limits for engineers(Yahoo)
Investing.com -- Apple Inc. is reducing employee budgets for artificial intelligence usage as part of a cost-cutting effort, even as the company seeks to put AI at the center of its operations.
News headlines are reported as-is. Verify important claims with original sources.
10. Insider Form 4 activity
| Date | Executive | Action | Shares | Value |
|---|---|---|---|---|
| Oct 27, 2026 | Newstead Jennifer (SVP, GC and Government Affairs) | Sell | 2,399 | $823,720.64 |
| Oct 20, 2026 | Newstead Jennifer (SVP, GC and Government Affairs) | Sell | 2,399 | $814,748.38 |
| Oct 15, 2026 | Borders Ben (Principal Accounting Officer) | Sell | 1,714 | — |
| Oct 15, 2026 | Borders Ben (Principal Accounting Officer) | Sell | 883 | $301,986 |
| Oct 16, 2026 | Borders Ben (Principal Accounting Officer) | Sell | 151 | $51,805.08 |
| Oct 16, 2026 | Borders Ben (Principal Accounting Officer) | Sell | 80 | $27,534.4 |
| Oct 16, 2026 | Borders Ben (Principal Accounting Officer) | Sell | 969 | $335,022.06 |
| Oct 16, 2026 | Borders Ben (Principal Accounting Officer) | Sell | 40 | $13,848.8 |
Form 4 filings are routine transactions. Scheduled sales (10b5-1 plans) are normal and not signals.
11. Institutional 13F holdings
| Fund | Shares | Position | Change |
|---|---|---|---|
| Vanguard Group | 1,279,051,701 | $347.7B | — |
| State Street | 615,129,929 | $178.0B | — |
| BlackRock | 373,656,459 | $78.7B | — |
| BlackRock Institutional Trust | 12,590,301 | $1.5B | — |
These are 45-day lagged filings (SEC requirement). Position changes happened in the past.
12. Earnings this week
No recent activity
Earnings dates are estimates and may shift. EPS estimates are consensus, not predictions.