Apple Stock Before iPhone 18 Pro: Is AAPL Pricing In a Foldable Supercycle?
Apple is entering its most important hardware launch in years with exceptional fundamentals—and a valuation that leaves little room for an ordinary product cycle. Fiscal Q3 revenue rose 16% to $109.4 billion, while iPhone sales jumped 22%. Yet at roughly $322, AAPL trades near 36 times FY2026 consensus EPS and close to Wall Street’s average…