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Designs iPhones, Macs, iPads and wearables, and runs the App Store and services ecosystem around them.
Designs iPhones, Macs, iPads and wearables, and runs the App Store and services ecosystem around them.
Earns most of its income from iPhone sales, then adds a steadier services line from App Store commissions, subscriptions and payments from Google for default search placement on its devices. Contract manufacturers in Asia, mainly China and increasingly India, assemble the hardware. The installed base of devices is what services monetise.
Moat: wide (brand, network effects, switching costs). Tightly integrated hardware-software-services ecosystem and brand loyalty keep users and developers locked in.
Headquarters: Cupertino, California, US · Founded: 1976 · Employees: 167,000
Size Apple (AAPL) is a United States Information Technology company (Telecommunications Equipment) with a market value of $4.98T, the largest of 3,117 United States companies the cockpit tracks. Shares closed at $342.37 on 6 Nov 2026.
Performance Over six months the shares gained 16.8%, against -17.0% for the median peer and -1.1% for the United States market (cap-weighted) — 2nd highest of 21 in its peer set.
Growth Revenue grew 15.1% over the last twelve months (peer median +9.2%); the operating margin is 33.0% (peer median 8.3%).
Valuation It trades at 36.8× forward earnings against a peer median of 18.4× (3rd most expensive of 20).
Price implies For today's price to make sense, revenue must grow about 19% a year for seven years (Req g). Recent delivered growth is +6%, so the hurdle is +13 pp: the price needs faster growth than the company has been delivering — of companies that just grew 25–50% a year, 93.8% slowed down over the next four years.
Capital Return on invested capital runs 78.3 points above its cost of capital (10.1% WACC).
Credit Apple has 49 bonds outstanding ($78.1B), rated AA+ by the agencies and trading like AA+ at a weighted spread of 49 bp.
Short interest Short interest is 0.9% of the free float (15 Oct 2026).
Next results Next results expected around 4 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2026 | FY2025 | FY2024 | FY2023 | |
|---|---|---|---|---|---|
| Revenue | $479B | $479B | $416B | $391B | $383B |
| Revenue growth | — | +15% | +6% | +2% | — |
| Gross profit | $234B | $234B | $195B | $181B | $169B |
| EBITDA | $171B | $171B | $145B | $135B | $126B |
| Net income | $132B | $132B | $112B | $93.7B | $97.0B |
| Free cash flow | $136B | $136B | $98.8B | $109B | $99.6B |
| Capital expenditure | $9.04B | $9.04B | $12.7B | $9.45B | $11.0B |
| Total debt | $85.8B | $85.8B | $112B | $119B | $124B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Apple AAPL | $4.98T | +17% | +15% | 33% | 36.8× | 19.0% |
| SamsungElec 005930.KS | $886B | -14% | +88% | 46% | 4.0× | -7.2% |
| Alphabet Inc. (Class A) GOOGL | $3.47T | -29% | +22% | 33% | 20.5× | 18.5% |
| Xiaomi-w 1810.HK | $99.0B | -2% | +6% | 3% | 27.8× | 24.3% |
| Microsoft MSFT | $3.94T | +28% | +18% | 47% | 25.5× | 17.2% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | AAPL | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +0.6% | -5.0% | 6th highest of 21 |
| 6-month return | +16.8% | -17.0% | 2nd highest of 21 |
| Distance from 52-week high | -3.7% | -33.2% | highest of 21 |
| Revenue growth (TTM) | +15.1% | +9.2% | 8th highest of 21 |
| Operating margin | 33.0% | 8.3% | 3rd highest of 21 |
| Forward P/E | 36.8× | 18.4× | 3rd most expensive of 20 |
| Growth the price implies (Req g, 7 yrs) | 19.0% | 17.4% | 6th most demanding of 16 |
| Growth delivered (Del g) | +5.5% | +7.8% | 5th lowest of 16 |
| Hurdle (Req g minus delivered) | +13.5 pp | +10.6 pp | 5th most demanding of 16 |
| ROIC minus cost of capital | +78.3 pp | +4.2 pp | 3rd highest of 21 |
| EV / EBITDA | 29.2× | 20.8× | 3rd most expensive of 10 |
| Net debt / EBITDA | 0.2× | -0.3× | 5th most indebted of 10 |
| Bond spread | 49 bp | 103 bp | tightest of 7 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Apple AAPL | United States | $4.98T | +17% | +15% | 33% | 36.8× | 19.0% | +5.5% |
| Cisco CSCO | United States | $369B | -3% | +12% | 25% | 18.4× | 15.0% | +4.9% |
| Foxconn Industrial Internet 601138.SS | China | $120B | -35% | +60% | 5% | 13.1× | n/a | n/a |
| Xiaomi-w 1810.HK | Hong Kong | $99.0B | -2% | +6% | 3% | 27.8× | 24.3% | +12.4% |
| Motorola Solutions MSI | United States | $85.1B | +34% | +10% | 25% | 27.0× | 16.4% | +9.5% |
| Hangzhou Hikvision Digital Technology 002415.SZ | China | $49.1B | -3% | +8% | 19% | 17.5× | 2.6% | +7.8% |
| Nokia NOKIA.HE | Finland | $44.3B | -37% | +4% | 14% | 19.2× | 17.4% | -1.9% |
| Ubiquiti UI | United States | $35.9B | -30% | +27% | 36% | 33.5× | 22.2% | +11.5% |
| Telefonaktiebolaget LM Ericsson ERIC-A.ST | Sweden | $34.9B | -9% | -4% | 14% | 17.3× | -8.7% | +0.4% |
| Ciena CIEN | United States | $34.5B | -56% | +33% | 14% | 23.4× | 29.0% | +6.2% |
| Accton Technology 2345.TW | Taiwan | $21.6B | -49% | +82% | 14% | 12.5× | 4.5% | +35.4% |
| ZTE 0763.HK | Hong Kong | $19.0B | -27% | +20% | 1% | 14.6× | 17.5% | +4.9% |
| ZTE 000063.SZ | China | $19.0B | -23% | +14% | 1% | 24.2× | 19.0% | +5.6% |
| TCL Technology 000100.SZ | China | $15.0B | +7% | +5% | 0% | 13.1× | -4.7% | +19.1% |
| Huaqin 603296.SS | China | $12.7B | -13% | +28% | 2% | 17.1× | n/a | n/a |
| Shenzhen Transsion 688036.SS | China | $11.6B | +13% | -1% | 5% | 21.8× | n/a | n/a |
| China Spacesat 600118.SS | China | $9.75B | -46% | +6% | 1% | 531.4× | n/a | n/a |
| ViaSat VSAT | United States | $8.81B | -9% | +1% | 2% | n/a | 42.8% | +15.5% |
| Yealink Network Technology 300628.SZ | China | $7.50B | +8% | +17% | 46% | 16.2× | 4.3% | +17.0% |
| Zhejiang Dahua Technology 002236.SZ | China | $7.04B | -21% | +7% | 7% | 12.3× | n/a | n/a |
| Shenzhen Sunway Communication 300136.SZ | China | $6.14B | -54% | +2% | 9% | 47.1× | 30.6% | +6.9% |
Apple has 49 bonds outstanding with $78.1B face value. The agencies rate it AA+; its bonds trade like AA+. Weighted yield 5.33%, a spread of 49 bp over government bonds.