Apple (AAPL) Stock Analysis & AI Equity Report
This report explains what Apple's share price of 345 USD on 3 November 2026 is made of, business by business, against listed peers. It takes no position: no rating, no target price and no recommendation to buy or sell.
The ready report was written by the Valuatum engine on 3 November 2026 and holds the figures available then. A fresh report is written today, from today's data, and arrives by email — usually within an hour.
Apple (AAPL) overview
Apple (NASDAQ Global Select: AAPL) designs and sells smartphones, computers, tablets, watches, headphones, home devices and a headset blending digital images with the real world. It also sells software, cloud storage, digital content, advertising, payment and support services to consumers, businesses, schools and governments worldwide. This stock analysis, a Valuatum market report dated 3 November 2026, explains what the share price of 345 USD on that day is made of, business by business, against listed peers, with financial forecasts, key ratios and what to watch. It gives no rating and no target price.
Key metrics & valuation multiples
* Mean of 41 analysts' targets, range 245-400 USD, source: PriceTargets.com. Other analysts' figure, not Valuatum's: this market report gives no rating and no target price.
Executive summary
Apple Inc. (AAPL, NASDAQ Global Select) designs and sells devices including iPhones, computers, tablets, watches, headphones and headsets, alongside software, cloud storage, content, advertising, payments and support services. The share price is 345 USD, market capitalisation is USD 5.11tn and enterprise value is USD 5.11tn in this Valuatum market report dated 3 November 2026. The price has risen 26% over one year and 92% over three years. Analysts forecast 2027 sales of USD 403,745m and operating profit of USD 106,355m, while 2024 reported sales were USD 391,035m and operating profit was USD 123,216m.
Today's businesses account for 54.8 USD per share: Americas 23 USD at 7.6x 2027 operating profit, Europe 14 USD at 7.8x, Greater China 9 USD at 7.6x, Rest of Asia Pacific 5 USD at 7.6x and Japan 4 USD at 7.7x. Apple Intelligence accounts for 261 USD per share and requires USD 3.67tn of 2039 sales at a 25% operating margin. Spatial Computing accounts for 29 USD and requires USD 488bn of 2039 sales at a 21% margin. The established regions are carried at 7.6x-7.8x 2027 operating profit, against a consumer-electronics peer median of 11.3x, with the comparison weakened by widely separated Xiaomi and Samsung multiples. The main reading depends on whether Apple can sustain regional margins while memory costs, EU commissions and competition develop, and whether new businesses produce measurable sales. Investors should watch the first Apple Intelligence sales figure, paid-tier take-up, gross margin and spatial-computing volumes.
Apple financial statements & estimates
All figures in USD millions unless noted; per-share data in USD.
The report in three points
Today's businesses support 55 USD per share against a 345 USD share price. The five established regions carry 7.6x-7.8x 2027 operating-profit multiples, with forecast operating profit of USD 106,355m for the whole company. The price therefore rests mainly on businesses that barely sell separately today.
What the share price is made of
The market report splits Apple's share price on 3 November 2026 between its businesses, by comparing each with its listed peers, then takes off debt and other claims.
Apple Intelligence is the largest part of the price, at 261 USD per share. It currently sells almost nothing separately, although Apple has announced future paid access to features using server models and has more than 2.5 billion active devices. The price requires USD 3.67tn of annual sales by 2039 and USD 918bn of operating profit at a 25% margin. That sales path is already about USD 463bn in 2031, compared with a worldwide AI-assistant market forecast of USD 26.8bn for that year. The opportunity therefore depends on assistants taking spending from paid work, not merely charging for a phone feature. Bank of America’s fiscal 2030 estimate of USD 15bn-USD 65bn of incremental revenue is below the 2029 path. The key evidence is paid take-up, disclosed sales and whether computing costs leave 25% operating profit.
Unlock the Apple ready report
The full PDF adds the split of the share price between the businesses with the reasoning for each, the peer comparison, what to watch per business, and the financial statements and forecasts. Instant download for €20.00. Written on 3 November 2026, from the figures available then.
Apple (AAPL) stock — frequently asked questions
What is the Apple (AAPL) share price made of?
Valuatum's market report splits Apple's share price of 345 USD between its businesses and explains what the market pays for each, measured against listed peers. The full report shows the split and the reasoning behind it.
What do analysts expect for Apple (AAPL)?
The analysts' consensus target is 340 USD (mean of 41 analysts' targets, range 245-400 USD, source: PriceTargets.com). This is other analysts' figure, not Valuatum's: the market report gives no rating and no target price.
Where can I get the Apple (AAPL) market report?
Buy the Apple (AAPL) AI market report PDF on this page for instant download, or generate a fresh report for any listed company.
Sources & methodology
- Primary data: Valuatum market report on Apple Inc. dated 3 November 2026 (345 USD share price, 55 USD for today's businesses and 290 USD for Apple Intelligence and Spatial Computing).
- Competitor context: Xiaomi Corporation at 12.9x 2027 EV/EBIT and Samsung Electronics at 2.2x-2.6x; the peer comparison is qualified because the two observed multiples are widely separated, while the consumer-electronics peer median is 11.3x.
- Market data: AAPL, 345 USD on 3 November 2026, analysts' 2027 forecast of USD 403,745m sales and USD 106,355m operating profit, and consensus price-target source PriceTargets.com.
Valuatum's market report takes analysts' consensus forecasts as they are, splits them between the businesses from the company's reported segment results, and reads the share price on the report date into the businesses by comparing each with its listed peers. It gives no rating and no target price. See the methodology for the full approach.
Disclaimer: This is AI-generated research material for informational purposes only. It gives no rating, no target price and no recommendation to buy or sell; any consensus target shown is other analysts' figure, attributed to its source. Always perform your own analysis. Valuatum Oy, Helsinki, Finland.
Analyst reports on Apple
Each report here is this company's Valuatum report re-run with an analyst's own assumptions and published under their name. They are ordered by a score out of five: what other analysts felt the work added over the engine's default report.