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$AAPL$343.14 ▼0.3%
Apple Inc.
WHAT THEY DO
Apple designs and sells consumer electronics (iPhone, Mac, iPad, Watch, AirPods), software and services like the App Store, iCloud, Apple Music and advertising. It makes most of its money selling hardware to consumers worldwide and increasingly earns high-margin recurring revenue from services and its installed base of over 2 billion active devices.
💎 CONVERGENCE PLAY — in 3 themes
Edge AIServices MonetizationWearables & Health
PRICE
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REVENUE MIX
iPhone51%
Services24%
Mac8%
iPad7%
Wearables & Home10%
COST
COGS51%
R&D8%
SG&A7%
Op Margin31%
FINANCIAL HEALTH
Reported through Sep 26, 2026
Figures are trailing twelve months (TTM) unless marked otherwise.
REVENUE
$478.8B
Growth
12%
QTR YOY
Gross M.
49%
P/E
38.3
EV/EBITDA
29.4
Net M.
28%
FCF M.
22%
D/E
0.73
LATEST QTR
Op M.
31%
PLUG INTO YOUR DCF
Historical growth
5.5%
Analyst 5y growth
—
Forward P/E
32.3
PEG ratio
2.80
Trailing EPS
$9.00
Forward EPS
$10.60
Multiple compressing
Forward P/E is lower than trailing — earnings are expected to grow into the price.
CAPEX & R&D — LAST 0 FISCAL YEARS (SEC FILINGS)
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TAM
SIZE
$1.1T by 2030
CAGR
6%
Apple competes across smartphones, PCs, wearables and digital services, a combined pool of roughly $1.1T growing mid-single digits. The fastest-growing slice is services and AI-enabled software, where Apple's installed base gives it pricing power and a distribution moat that pure hardware rivals lack.
RISK ASSESSMENT
HIGiPhone concentration and China exposure: over half of revenue comes from iPhone and Greater China is both a key market and manufacturing hub, so demand softness or geopolitical/tariff shocks hit results hard.
MEDRegulatory pressure on App Store fees and default-search payments (EU DMA, US antitrust) could erode high-margin services revenue.
LOWSupply chain and component cost volatility, though Apple's scale and supplier diversification mitigate this.
🐂 BULL
Services mix shift plus an AI-driven iPhone upgrade supercycle can sustain mid-teens growth and expand margins, with a massive buyback compounding EPS.
🐻 BEAR
At 37x earnings and 29.5x EBITDA the stock already prices in an AI upgrade cycle; if iPhone demand stalls or services regulation bites, multiple compression outweighs modest growth.
EARNINGS
EPS · Q4 2025
Beat ✓
REVENUE
Beat ✓
MANAGEMENT TONE
BearishBullish
🔗 IMPACT ON YOUR THESIS
AI features drive a multi-year iPhone upgrade cycle
Watch→On Track
Strong iPhone revenue growth of 16% YoY suggests early upgrade momentum
Services mix shift lifts blended gross margin toward 50%+
On Track→On Track
Gross margin held at 49% with services growth supporting the mix
Regulatory risk to App Store economics
Watch→Watch
No resolution; EU and US cases remain an overhang
AI-powered data, computed by TreasureX · May contain inaccuracies
⚠️
All values, scores, and figures here are computed from your own assumptions and public data, for educational purposes only. This is not investment advice — TreasureX does not recommend buying or selling any security. Results change with your inputs. Please do your own research and use your own judgement before making any investment decision.