AAPL stock reaches all-time highs amid strong iPhone sales and AI strategy, maintaining high free cash flow despite premium valuation.
Apple’s shares climbed to a split-adjusted record of $335, pushing its market capitalization toward $5 trillion. The rally follows robust iPhone demand and anticipation of a folding iPhone launch in September, fueling investor optimism.
The company’s revenue surged to $111 billion in the first quarter of 2026, with over 2 billion active devices driving recurring revenue. Apple’s conservative AI strategy, focusing on partnerships and on-device applications, contrasts with rivals’ heavy spending, preserving its free cash flow.
Despite a forward P/E ratio near 35, analysts argue the stock remains attractive due to its financial strength and market position. The company’s ability to generate consistent returns at all-time highs underscores its resilience in the tech sector.