---
title: Apple (AAPL) — intrinsic value and fair price
canonical: https://sweetvaluelab.com/stocks/aapl
ticker: AAPL
as_of: 2026-10-17
sector: Technology
industry: Consumer Electronics
---
# Apple (AAPL)

Apple (AAPL) closed at $343.46 on Oct 16, 2026, overvalued by 114% vs its model value of $160.62 (from a five-year discounted cash flow).

## Key figures

| Figure | Value |
| --- | ---: |
| Last close | $343.46 (Oct 16, 2026) |
| Model value (from a five-year discounted cash flow) | $160.62 |
| Price vs model | overvalued by 114% vs model |
| Range of that model | $108.69 – $321.55 |
| Market value | $5.0T |
| P/E (fiscal 2025) | 46.0 |
| Net margin (fiscal 2025) | 26.9% |
| Free cash flow (fiscal 2025) | $98.8B |
| Dividend yield (trailing twelve months) | 0.31% |
| Beta | 1.07 |
| Cost of capital (WACC) | 9.34% |
| Business classification | Profitable Growth (Low/slowing growth (~4% recent), High profitability (27% net margin), Highly cyclical earnings) |

## On the stock lists

| List | Place | Figure | Page |
| --- | ---: | ---: | --- |
| Largest companies | #2 | $5.0T | https://sweetvaluelab.com/lists/largest-companies |
| Near 52-week highs | #13 | 0.0% | https://sweetvaluelab.com/lists/near-52-week-highs |

## Dividends

| Figure | Value |
| --- | ---: |
| Trailing dividend yield | 0.31% |
| Dividends per share, last 12 months | $1.06 |
| Dividends / free cash flow (fiscal 2025) | 15.6% |
| Raised | 13 years in a row |
| Growth over 5 years | 4.5% a year |
| Latest payment | $0.27, ex-date Aug 10, 2026, paid Aug 13, 2026 |

| Year of payments | Dividends per share |
| --- | ---: |
| To Aug 6, 2021 | $0.85 |
| To Aug 5, 2022 | $0.90 |
| To Aug 11, 2023 | $0.94 |
| To Aug 12, 2024 | $0.98 |
| To Aug 11, 2025 | $1.02 |
| Trailing twelve months (to Aug 10, 2026) | $1.06 |

## Valuation models

Each model's value per share and the role the engine gave it for this business. The headline above is one model's value; every other model is listed with its own, and each has a page of its own under the valuation. Computed Oct 17, 2026.

| Model | Role | Value per share | Low | High |
| --- | --- | ---: | ---: | ---: |
| DCF · Perpetuity growth · 5y | primary | $160.62 | $108.69 | $321.55 |
| DCF · Perpetuity growth · 10y | cross check | $177.47 | $122.75 | $344.13 |
| DCF · EBITDA exit · 5y | cross check | $0.00 | $0.00 | $0.00 |
| DCF · EBITDA exit · 10y | cross check | $0.00 | $0.00 | $0.00 |
| P/E · peers | cross check | $0.00 | $0.00 | $0.00 |
| P/E · own history | cross check | $257.43 | $230.25 | $298.89 |
| PEG | sanity check | $119.14 | $119.14 | $119.14 |
| EV/EBITDA · peers | cross check | $0.00 | $0.00 | $0.00 |
| EV/Revenue · peers | cross check | $0.00 | $0.00 | $0.00 |
| Earnings power value | cross check | $62.95 | $53.53 | $75.98 |
| Dividend discount | cross check | $21.87 | $14.97 | $36.24 |

## Insider activity (SEC Form 4)

Past 90 days: 0 open-market buys ($0) and 15 open-market sales ($91.5M); 10b5-1 plan sales included.

| Date | Insider | Relationship | Transaction | Shares | Value |
| --- | --- | --- | --- | ---: | ---: |
| Oct 13, 2026 | Newstead Jennifer | SVP, GC and Government Affairs | Open-market sell (10b5-1 plan) | 2,399 | $827,655 |
| Oct 6, 2026 | Newstead Jennifer | SVP, GC and Government Affairs | Open-market sell (10b5-1 plan) | 2,399 | $796,492 |
| Oct 2, 2026 | COOK TIMOTHY D | Executive Chair | Open-market sell (10b5-1 plan) | 40,879 | $13.7M |
| Oct 1, 2026 | COOK TIMOTHY D | Executive Chair | Option/RSU exercise (10b5-1 plan) | 374,541 | — |
| Oct 2, 2026 | COOK TIMOTHY D | Executive Chair | Bona fide gift (10b5-1 plan) | 26,325 | $0 |

## Recent SEC filings

| Filed | Form | What | Filing |
| --- | --- | --- | --- |
| Sep 1, 2026 | 8-K | 5.02 Departure/Election of Directors or Officers | https://www.sec.gov/Archives/edgar/data/320193/000114036126035325/ef20081427_8ka.htm |
| Jul 31, 2026 | 10-Q | Quarterly report | https://www.sec.gov/Archives/edgar/data/320193/000032019326000020/aapl-20260627.htm |
| Jul 30, 2026 | 8-K | 2.02 Results of Operations (Earnings); 9.01 Financial Statements and Exhibits | https://www.sec.gov/Archives/edgar/data/320193/000032019326000018/aapl-20260730.htm |
| May 1, 2026 | 10-Q | Quarterly report | https://www.sec.gov/Archives/edgar/data/320193/000032019326000013/aapl-20260328.htm |
| Apr 30, 2026 | 8-K | 2.02 Results of Operations (Earnings); 9.01 Financial Statements and Exhibits | https://www.sec.gov/Archives/edgar/data/320193/000032019326000011/aapl-20260430.htm |

## Superinvestors holding it (latest 13F)

| Manager | Quarter | Shares | Value |
| --- | --- | ---: | ---: |
| Buffett | 2026-06-30 | 227,917,808 | $66.0B |
| Duan Yongping | 2026-06-30 | 27,098,707 | $7.8B |
| Thomas Gayner | 2026-06-30 | 1,227,290 | $355.1M |
| Mairs & Power | 2026-06-30 | 1,138,448 | $329.4M |

24 tracked managers in all.

## About

Apple Inc. is a global technology corporation that specializes in the conceptualization, production, and sale of a diverse suite of electronic devices. Its comprehensive hardware lineup features the well-known iPhone smartphones, Mac personal computers, and versatile iPad tablets. The company also supplies a range of wearables, smart home products, and accessories, including AirPods, Apple TV, Apple Watch, items from the Beats brand, and HomePod speakers. Beyond its device offerings, Apple delivers essential support services like AppleCare and robust cloud solutions. It oversees key digital platforms, prominently the App Store, which acts as a central hub for customers to discover and download countless applications and digital content, from e-books and music to videos, games, and podcasts. The company also generates revenue via advertising, leveraging both its proprietary ad platforms a…

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Source: https://sweetvaluelab.com/stocks/aapl (SweetValueLab, free, no account). Prices and statements from Financial Modeling Prep; filings from SEC EDGAR. Research and educational data, not investment advice; nothing here is a recommendation to buy, sell or hold any security.