83/100BApple stock forecast 2027–2031What is an analyst price target? A price target is the price an analyst expects a stock to reach in 12 months. Arincen shows the average, high and low targets and the upside to the average.
Analysts' average 12-month price target for Apple is 341.94, 2.4% below the current price of 350.49. Their targets range from 245.00 to 400.00.
Of the 29 firms that rated Apple in the past 12 months, 18 rate it buy or strong buy, 8 hold and 3 sell or strong sell (each firm at its latest rating): a Buy consensus.
Analysts' 1-year price targets range from 245.00 to 400.00, with an average of 341.94.
| Buy | 18 | |
| Hold | 8 | |
| Sell | 3 |
12-month price target
| Highest target | 400.00 |
| Average target | 341.94 |
| Lowest target | 245.00 |
| Current price | 350.49 |
Apple price target historyWhat is an analyst price target? A price target is the price an analyst expects a stock to reach in 12 months. Arincen shows the average, high and low targets and the upside to the average.
Have analysts recently raised or lowered their Apple price target and rating?
How analysts rate Apple, month by monthWhat is the analyst rating? The analyst rating sums up what the analysts covering a stock recommend, from strong buy to strong sell, by the share of them rating it a buy.
18 of 29 firms rate it buy now, against 17 of 28 in December 2025.
Each month: every firm at its latest rating from the 12 months before. Strong buys count as buys, strong sells as sells.
Apple analyst upgrades, downgrades and price targets
The latest rating change came on 20 October 2026, when Loop Capital Markets downgraded Apple from Buy to Hold. Its price target is 330.00, from 380.00. The most recent new target came from Goldman Sachs on 4 November 2026: 380.00.
| Date | Firm | Rating | Price target | Change | Price then |
|---|---|---|---|---|---|
| 4 Nov 2026 | Goldman Sachs | — | 360.00 → 380.00 | +5.6% | 331.90 |
| 4 Nov 2026 | UBS | — | 340.00 → 380.00 | +11.8% | 331.90 |
| 3 Nov 2026 | D.A. Davidson Gil Luria | — | 295.00 | — | 330.55 |
| 3 Nov 2026 | Guggenheim | — | 400.00 | — | 338.32 |
| 3 Nov 2026 | Robert W. Baird William Power | — | 330.00 → 340.00 | +3.0% | 338.32 |
| 3 Nov 2026 | UBS David Vogt | Reiterated · Neutral | 370.00 → 340.00 | -8.1% | 338.32 |
| 3 Nov 2026 | Melius Research Ben Reitzes | — | 370.00 | — | 338.32 |
| 3 Nov 2026 | Morgan Stanley Erik Woodring | Reiterated · Overweight | 355.00 → 350.00 | -1.4% | 338.32 |
| 3 Nov 2026 | UBS | — | 365.00 → 370.00 | +1.4% | 338.32 |
| 28 Oct 2026 | Monness Brian White | — | 355.00 | — | 345.37 |
| 20 Oct 2026 | MoffettNathanson | Reiterated · Neutral | 304.00 → 283.00 | -6.9% | 342.94 |
| 20 Oct 2026 | Loop Capital Markets | Downgraded · Buy → Hold | 380.00 → 330.00 | -13.2% | 342.94 |
| 1 Oct 2026 | Morgan Stanley | Reiterated · Overweight | 364.00 → 355.00 | -2.5% | 330.26 |
| 18 Sept 2026 | Evercore ISI | Reiterated · Outperform | 365.00 → 380.00 | +4.1% | 337.00 |
| 18 Sept 2026 | Loop Capital Markets | — | 325.00 → 380.00 | +16.9% | 337.00 |
| 8 Sept 2026 | MoffettNathanson | — | 304.00 | — | 319.97 |
| 17 Aug 2026 | Redburn Partners Timm Schulze-Melander | — | 400.00 | — | 305.93 |
| 17 Aug 2026 | Rothschild & Co | Upgraded · Neutral → Buy | — | — | — |
| 10 Aug 2026 | Jefferies | Downgraded · Hold → Underperform | 330.00 → 263.66 | -20.1% | 313.33 |
| 4 Aug 2026 | China Renaissance | Downgraded · Buy → Hold | — | — | — |
| 31 Jul 2026 | Wells Fargo | Reiterated · Overweight | 310.00 → 350.00 | +12.9% | 333.43 |
| 31 Jul 2026 | Goldman Sachs Michael Ng | Reiterated · Buy | 330.00 → 360.00 | +9.1% | 333.43 |
| 31 Jul 2026 | Barclays Tim Long | Reiterated · Underweight | 253.00 → 245.00 | -3.2% | 333.43 |
| 28 Jul 2026 | KeyBanc Brandon Nispel | — | 250.00 | — | 336.91 |
| 24 Jul 2026 | Robert W. Baird | — | 310.00 → 330.00 | +6.5% | 321.66 |
| 23 Jul 2026 | Morgan Stanley | Reiterated · Overweight | 325.00 → 364.00 | +12.0% | 325.89 |
| 21 Jul 2026 | UBS | — | 250.00 → 365.00 | +46.0% | 327.74 |
| 20 Jul 2026 | Raymond James | — | 380.00 | — | 333.74 |
| 17 Jul 2026 | HSBC | Upgraded · Hold → Buy | — | — | — |
| 16 Jul 2026 | HSBC | — | 220.00 → 366.00 | +66.4% | 333.26 |
| 15 Jul 2026 | RBC Capital | — | 325.00 → 365.00 | +12.3% | 324.15 |
| 14 Jul 2026 | UBS | — | 296.00 → 250.00 | -15.5% | 317.31 |
| 14 Jul 2026 | Keybanc | Downgraded · Sector Weight → Underweight | — | — | — |
| 22 Jun 2026 | KGI Securities | Downgraded · Outperform → Hold | 306.00 → 315.00 | +2.9% | 298.01 |
| 9 Jun 2026 | Maxim Group Tom Forte | Reiterated · Buy | 300.00 → 350.00 | +16.7% | 296.07 |
| 9 Jun 2026 | Morgan Stanley | Reiterated · Overweight | 360.00 → 325.00 | -9.7% | 301.54 |
| 9 Jun 2026 | Morgan Stanley Erik Woodring | — | 330.00 → 360.00 | +9.1% | 301.54 |
| 14 May 2026 | Tigress Financial | Reiterated · Strong Buy | 375.00 | — | 297.82 |
| 14 May 2026 | Evercore ISI | Reiterated · Outperform | 330.00 → 365.00 | +10.6% | 298.87 |
| 8 May 2026 | Wedbush Daniel Ives | Reiterated · Outperform | 350.00 → 400.00 | +14.3% | 287.44 |
| 1 May 2026 | Robert W. Baird William Power | — | 300.00 → 310.00 | +3.3% | 282.03 |
| 1 May 2026 | UBS | Reiterated · Neutral | 287.00 → 296.00 | +3.1% | 283.42 |
| 1 May 2026 | Wells Fargo Aaron Rakers | Reiterated · Overweight | 300.00 → 310.00 | +3.3% | 271.35 |
| 1 May 2026 | Morgan Stanley | Reiterated · Overweight | 315.00 → 330.00 | +4.8% | 271.35 |
| 1 May 2026 | Barclays | Reiterated · Underweight | 239.00 → 253.00 | +5.9% | 271.35 |
| 28 Apr 2026 | UBS | Reiterated · Neutral | 330.00 → 287.00 | -13.0% | 267.61 |
| 17 Apr 2026 | BNP Paribas | Upgraded · Neutral → Outperform | 300.00 | — | 271.41 |
| 4 Mar 2026 | Jefferies | — | 276.47 → 330.00 | +19.4% | 263.22 |
| 3 Mar 2026 | UBS | — | 280.00 → 330.00 | +17.9% | 263.75 |
| 2 Mar 2026 | Stifel Nicolaus | — | 330.00 | — | 264.66 |
Apple EPS and revenue estimatesWhat are estimate revisions? Estimate revisions are the changes analysts make to their EPS and revenue forecasts for the years ahead. They show whether expectations are rising or falling.
Analysts expect Apple's EPS to grow 8.2% a year until 2029. Over the last 5 years it grew 9.9% a year, and over the last 3 years 13.6%.
Analysts expect Apple's revenue to grow 7.3% a year until 2029, about as fast as over the last 5 years (5.5% a year) and the last 3 years (7.7%).
Revenue
EPS
Does Apple beat earnings estimates?What is an earnings surprise? An earnings surprise is how far a company's reported EPS or revenue came above or below the analysts' average estimate, in percent.
On average, analysts' EPS estimate was 4.2% off the result, either way, and their revenue estimate 1.4%, over the last 12 quarters.
- EPS beats
- 83 / 111
- Revenue beats
- 82 / 110
- Average EPS surprise, last 12What is an earnings surprise? An earnings surprise is how far a company's reported EPS or revenue came above or below the analysts' average estimate, in percent.
- +4.2%
- Since
- April 1995
| Quarter | Report date | EPS estimate | Reported EPS | Surprise | Revenue estimate | Reported revenue | Surprise |
|---|---|---|---|---|---|---|---|
| Q4 FY2026 | 2 Nov 2026 | 1.99 | 2.05 | +3.0% | 113.40B | 114.48B | +0.9% |
| Q3 FY2026 | 30 Jul 2026 | 1.89 | 2.02 | +6.9% | 109.04B | 109.42B | +0.3% |
| Q2 FY2026 | 30 Apr 2026 | 1.95 | 2.01 | +3.1% | 109.46B | 111.18B | +1.6% |
| Q1 FY2026 | 29 Jan 2026 | 2.67 | 2.85 | +6.7% | 138.39B | 143.76B | +3.9% |
| Q4 FY2025 | 30 Oct 2025 | 1.73 | 1.85 | +6.9% | 102.23B | 102.47B | +0.2% |
| Q3 FY2025 | 31 Jul 2025 | 1.44 | 1.57 | +9.0% | 89.56B | 94.04B | +5.0% |
| Q2 FY2025 | 1 May 2025 | 1.63 | 1.65 | +1.2% | 94.54B | 95.36B | +0.9% |
| Q1 FY2025 | 30 Jan 2025 | 2.36 | 2.40 | +1.7% | 124.26B | 124.30B | +0.0% |
| Q4 FY2024 | 31 Oct 2024 | 1.60 | 1.64 | +2.5% | 94.51B | 94.93B | +0.4% |
| Q3 FY2024 | 1 Aug 2024 | 1.34 | 1.40 | +4.5% | 84.48B | 85.78B | +1.5% |
| Q2 FY2024 | 2 May 2024 | 1.51 | 1.53 | +1.3% | 90.37B | 90.75B | +0.4% |
| Q1 FY2024 | 1 Feb 2024 | 2.10 | 2.18 | +3.8% | 117.99B | 119.58B | +1.3% |
Apple stock price 2027–2031: scenariosHow are the stock price scenarios calculated? Bear, base and bull prices for the years ahead: the analysts' EPS estimates times the lowest, average and highest P/E of the stock today and at its last five year ends, or of its peers.
If Apple's earnings keep growing at the 8.4% a year analysts expect to FY2029, it would earn about 13.36 a share in FY2031. At the P/E it has traded at over the last five years (24.5 to 38.9) that is 326.73 to 519.61 a share, or 446.13 at its average P/E of 33.4. This is arithmetic on the analysts' estimates, not a prediction.
| Fiscal year | EPS | Bear | Base | Bull |
|---|---|---|---|---|
| FY2027 | 9.46 | 231.32 | 315.85 | 367.87 |
| FY2028 | 10.46 | 255.75 | 349.21 | 406.72 |
| FY2029 | 11.37 | 278.12 | 379.77 | 442.31 |
| FY2030 (extrapolated) | 12.32 | 301.45 | 411.61 | 479.40 |
| FY2031 (extrapolated) | 13.36 | 326.73 | 446.13 | 519.61 |
Each year's EPS is the analysts' consensus to FY2029; the years after grow 8.4% a year (the analysts' growth, at most 15%). Bear, base and bull apply the lowest, average and highest P/E of today and the last five fiscal year ends, leaving out any above 60, the mark of a year of collapsed earnings (24.5, 33.4, 38.9).
Is Apple stock undervalued or overvalued?How does Arincen work out a stock's fair value? Fair value is our estimate of a share's price at the P/E the company usually trades at, with a low to high range around it.
Apple's P/E of 38.9 is near the top of its 5-year range (20.4 to 42.6, median 31.4). Analysts do not expect faster growth than in recent years, so it is expensive compared with its own history. Buyers pay more for each point of growth than usual: a PEG of 4.8 on expected growth against 3.2 on its median P/E and past five years' growth. At its usual P/E (31.4 × EPS of 9.01), Apple's fair value is 282.74; the price, 350.49, is 24.0% above it. Its forward P/E, on the consensus for FY2027, is 37.1.
Fair value is the usual (median) P/E of the last five years times the earnings per share of the last twelve months; the ends of the bar are the same earnings at its lowest and highest P/E of those years (20.4 and 42.6). The price against its P/E range
- Price to earnings ratio (TTM)What is the P/E ratio? The P/E ratio divides a share's price by its earnings per share over the last year: what you pay for each dollar of profit.
- 38.90
- Five-year median P/EWhat is the P/E ratio? The P/E ratio divides a share's price by its earnings per share over the last year: what you pay for each dollar of profit.
- 31.38
- Five-year P/E range
- 20.4 – 42.6
- Forward P/E (FY2027)What is the forward P/E ratio? Forward P/E divides a share's price by the earnings per share analysts expect in the coming year, rather than last year's actual earnings.
- 37.06
- PEG ratioWhat is the PEG ratio? The PEG ratio divides the P/E by the yearly earnings growth analysts expect, to show how much you pay for each point of growth.
- 4.64
- To the average targetWhat is an analyst price target? A price target is the price an analyst expects a stock to reach in 12 months. Arincen shows the average, high and low targets and the upside to the average.
- -2.4%
Most undervalued US stocksHow does Arincen work out a stock's fair value? Fair value is our estimate of a share's price at the P/E the company usually trades at, with a low to high range around it.
| Stock | Price | Fair value | Upside |
|---|---|---|---|
| 119.800 | 236.42177Price 119.80296 | +97.3% | |
| 98.870 | 194.84146Price 98.87244 | +97.1% | |
| 42.430 | 82.9546Price 42.43165 | +95.5% | |
| 200.430 | 384.58163Price 200.432,644 | +91.9% | |
| 160.940 | 305.52157Price 160.94396 | +89.8% | |
| 214.900 | 405.52304Price 214.90507 | +88.7% | |
| 164.770 | 308.95212Price 164.77442 | +87.5% |
Furthest below the fair value on each stock's page, updated every day.