AAPL
Apple Inc
NASDAQ: AAPL · TECHNOLOGY · CONSUMER ELECTRONICS
$291.13
-1.52% today
Updated 2026-06-12
Market cap
$4.63T
P/E ratio
38.16
P/S ratio
10.25x
EPS (TTM)
$8.26
Dividend yield
0.34%
52W range
$194 – $317
Volume
46.4M
Apple Inc (AAPL) Financial Forecast & Price Target 2030
Research-backed projections from analyst consensus, management guidance, and sector analysis.
Research-backed AAPL price target 2030 projection accounting for share dilution, balance sheet debt, and time value of money.
Current price
$291.13
Today
Analyst consensus
$308.07
+5.82% · 12M
2030 Base
$532.73
+82.99% future
NPV today
$337.28
@ 10% WACC
48 analysts:
23 Buy11 Hold3 Sell
Management guidance
Tim Cook has not provided explicit revenue targets through 2030, but has emphasized Services growth (target: $80B+ run-rate by 2025, now achieved), AI integration across ecosystem (Apple Intelligence), and geographic expansion in China. Apple projects Services CAGR of 10-12% and total installed base growth to 2.5B+ devices by 2030. The company targets continued double-digit growth in emerging markets and AI-driven product refresh cycles.
Sources: Management guidance, analyst consensus, sector analysishigh confidence
AAPL · Apple Inc · Revenue & price projection · 2023–2030E
Actual / 2030 target Projected revenue Base case price Bull to bear range
Bear case (2030)
$476.63
NPV today: $301.76
Base case (2030)
$532.73
NPV today: $337.28
Bull case (2030)
$644.92
NPV today: $408.31
WallStSmart.com
AAPL financial forecast · Research-backed projections
| Metric | 2025 | 2026 (E) | 2027 (E) | 2028 (E) | 2029 (E) | 2030 (E) ★ |
|---|---|---|---|---|---|---|
| Revenue | $416.2B | $503.5B | $581.0B | $666.0B | $750.0B | $833.0B |
| Revenue growth | 6.4% | 11.5% | 15.4% | 14.6% | 12.6% | 11.1% |
| Net margin | — | 27.6% | 28.7% | 29.2% | 29.3% | 29.3% |
| EPS | $2.84 | $9.45 | $11.28 | $13.15 | $14.85 | $16.45 |
| Diluted shares | — | 14731M | 14761M | 14790M | 14820M | 14850M |
| Net debt | — | $-42.46B | $-118.70B | $-206.08B | $-304.49B | $-413.79B |
| P/S multiple | — | 10.0x | 9.0x | 9.0x | 9.0x | 9.0x |
| Implied price (base) | — | $344.67 | $362.29 | $419.20 | $476.01 | $532.73 |
★ 2030E is the model's terminal target year. Implied price = (Revenue × P/S − Net debt) ÷ Diluted shares.
Scenario detail · Three drivers, three outcomes
| 2030E driver | Bear | Base | Bull |
|---|---|---|---|
| Revenue | $833.0B | $833.0B | $833.0B |
| P/S multiple | 8.0x | 9.0x | 11.0x |
| Diluted shares | 14850M | 14850M | 14850M |
| Net debt | $-413.79B | $-413.79B | $-413.79B |
| Implied P/E † | 29x | 32x | 39x |
| 2030 Price | $476.63 | $532.73 | $644.92 |
| NPV @ 10% | $301.76 | $337.28 | $408.31 |
† Implied P/E: Multiples remain elevated across all three scenarios because AAPL is valued primarily on revenue scale during its growth phase, not near-term earnings power. Lower P/E in the bear case reflects multiple compression, but the absolute level stays high since 2030E still represents a hypergrowth-to-mature transition year.
EV to per-share bridge · How we get to $532.73 base case
AAPL catalysts and risks
Growth catalysts
+ Apple Intelligence rollout across iOS 18, macOS, and iPadOS (WWDC June 2026) — expanding AI TAM
+ Vision Pro 2/3 and AR/VR ecosystem maturation (potential $50B+ TAM by 2030)
+ Services acceleration (AppleCare+, Apple One, App Store growth) targeting $100B+ revenue by 2030
+ China market recovery and geopolitical de-escalation under Trump administration (Tim Cook in Beijing May 2026)
+ New product categories (AI health devices, advanced wearables) and iPhone 17 line expansion
+ Fortnite return to App Store and services normalization post-antitrust settlements
Key risks
- Regulatory headwinds: App Store antitrust investigations (India, EU, US), potential margin compression from forced revenue sharing
- Smartphone market saturation in developed markets; iPhone unit growth capped at 1-2% CAGR
- China market dependency (20% of revenue) exposed to geopolitical tensions, tariffs, and local smartphone competition
- AI monetization execution risk — Apple Intelligence must convert to Services attach and higher pricing, not cannibalize
- Valuation risk: 36.2x P/E vs. historical 15-20x; multiple compression if growth disappoints below 8-10%
- Competitive pressure from Microsoft (Copilot), Google (AI integration), and Samsung (hardware + AI)
Methodology · Apple Inc 2030 stock forecast model
Apple Inc 2030 price target is calculated using WallStSmart's research model. Revenue projections are derived from analyst consensus across 48 Wall Street analysts, management guidance from the latest earnings call, and sector growth forecasts. The model is built on five core components:
| 1. Share dilution | Projected from per-ticker schedule of SBC + equity raise activity, compounding year by year (1% cumulative for AAPL by 2030) |
| 2. Net debt | EV minus net debt yields equity value; debt projected from capex cycle trajectory ($-413.79B by 2030) |
| 3. Time value | NPV calculated using 10% WACC (CAPM: beta 1.065) |
| 4. Multiple framework | P/S compresses with scale: bear 8.0x / base 9.0x / bull 11.0x |
| 5. Scenario design | Bull/Base/Bear vary revenue, margin, shares, debt, and multiple independently |
WallStSmart research model · Not financial advice · Past performance is not indicative of future results · Last researched: May 20, 2026.
AAPL price target FAQ
What is the AAPL price target for 2030?
WallStSmart's Apple Inc 2030 base case is $532.73 per share, with a bull case of $644.92 and bear case of $476.63. The NPV of the base case discounted to today at 10% WACC is $337.28.
How is the Apple Inc 2030 stock forecast calculated?
The AAPL 2030 projection multiplies projected revenue by a growth-adjusted P/S multiple to derive enterprise value, subtracts projected net debt to get equity value, then divides by diluted shares outstanding accounting for dilution from stock-based compensation and equity raises.
Why does the AAPL price target account for dilution?
Apple Inc is projected to grow diluted share count from 14687M to 14850M by 2030 (a 1% increase) through stock-based compensation and capital raises. Ignoring this would inflate the price target by approximately 1%.
What is the analyst consensus on AAPL stock?
48 analysts cover AAPL with an average 12-month price target of $308.07. The 2030 projection extends this framework with longer-horizon assumptions including dilution and time value of money.