Apple stock hits all-time high with high PE ratio, analysts bullish on AI future

From Nasdaq: 2024-07-17 18:14:00

Apple’s (NASDAQ: AAPL) stock hits all-time high, up over 20% year-to-date, making it the most valuable company. Trading at a high PE ratio of 36 spells expensive but new AI features could boost growth next year. Analysts raise price targets, but consensus sees stock as high priced. Is it still a good buy?

Investors bet on Apple’s AI future to drive growth, despite recent revenue decline. With new AI-powered iPhones in the pipeline, growth prospects are high. Stock price surge fueled by optimism, but AI benefits may take time to materialize. Analysts bullish on Apple’s potential, but consensus price target still below current levels.

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