Apple (AAPL) trades at 39.5 times earnings, the highest multiple among six companies including Microsoft, Alphabet and Dell Technologies, though its revenue grew more slowly than four of those peers. Its 33.2% operating margin matches Alphabet's 33.1%, yet Alphabet trades at 15.9 times earnings and grew revenue faster, at 20.1% versus Apple's 14.2%. iPhone revenue rose 22% to $54.3 billion in the June quarter and Mac revenue rose 29%, but management said advanced chip supply shortages would worsen and guided to 9% to 11% revenue growth for September. Gross margin hit 50.1% in June, with tariff refunds adding about two percentage points, while rising memory costs weigh on the outlook and September gross margin is guided to 47% to 48%. Apple's P/E is also higher than at 36 of its 40 fiscal quarter ends since fiscal Q4 2016.
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Related tickers and likely impact
AAPL
• NeutralApple Inc.
Relevance: low
| Market | US stocks |
|---|---|
| Sector | Information Technology |
| Industry | Technology Hardware, Storage & Peripherals |
| Market cap | $5.1T |
| Close on 10/23/2026 | 347.73 |
| Change that session | -0.14% |
Impact is scored by AI from the headline and may be wrong. It is not investment advice.
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