At a $3 Trillion Market Cap, Has Apple's Stock Gotten Too Expensive?
's (NASDAQ: AAPL) stock price has already soared 45% this year, propelling it to a valuation topping $3 trillion. The tech giant's stock trades as if it were still a high-growth startup even though those days appear to be long gone. Given all this quick growth, some are wondering if the stock has already peaked for 2023.
Is Apple still a good investment opportunity, even at an inflated price tag?
Over the past decade, Apple has averaged a revenue growth rate of around 10%. And that's with the tech company benefiting from a bump in activity during the pandemic. But with the economy coming back to more normal levels in many ways, Apple's growth rate is now below average and it even turned negative in recent quarters:
Source Fool.com
Apple Inc. Stock
€199.24
-0.720%
Currently there is a rather positive sentiment for Apple Inc. with 149 Buy predictions and 17 Sell predictions.
With a target price of 224 € there is a slightly positive potential of 12.43% for Apple Inc. compared to the current price of 199.24 €.
