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Apple Stock: Path to $400 by 2028?
16 Jun
Summary
- Apple's services revenue hit a record high.
- Analyst models predict Apple stock could reach $335.
- A $400 share price requires significant multiple expansion.
Apple reported its strongest March quarter to date, driven by exceptional demand for the iPhone 17 lineup and record Services revenue. However, the stock has seen its shares stall, facing headwinds from valuation fatigue following a significant one-year gain. Concerns also exist regarding potential tariff impacts and the pace of its AI advancements compared to competitors.
Despite a timid consensus on Wall Street, with an average target price indicating modest upside, some internal models project a more optimistic trajectory. Achieving a target of $400 per share by 2028 would necessitate a substantial increase in its valuation multiple, driven by continued double-digit growth in Services.
Three key catalysts could support this ambitious price target: Apple's integration of NVIDIA's Blackwell B200s for an enhanced Siri, the anticipated launch of a foldable iPhone, and renewed double-digit growth across all geographic segments, including a rebound in Greater China. The primary risk remains a tariff escalation that could compress hardware margins.
