Apple Stock ‘Won’t Work’ Until This 1 Thing Happens, According to Analysts

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After the iPhone maker projected a stronger-than-expected fiscal first quarter, signaling renewed growth and a surge in iPhone 17 Pro demand, shares initially popped before slipping back.While some analysts, like Citi’s Atif Malik, hailed the results as proof of a powerful upgrade cycle and raised their price targets, Needham’s Laura Martin struck a cautious tone.Dear Rigetti Stock Fans, Mark Your Calendars for November 10Legendary Investor Michael Burry Is Doubling Down on Lululemon Stock. Should You Buy LULU Now?Heavy Tesla Call Options Volume Highlights TSLA Stock's ValueGet exclusive insights with the FREE Barchart Brief newsletter. Subscribe now for quick, incisive midday market analysis you won't find anywhere else.In a note following the earnings, Martin said Apple’s stock “won’t work until there is an iPhone replacement cycle,” warning that despite Apple’s massive moat, high valuation and mounting competition could keep the stock grounded until consumers start upgrading in force.Apple, based in California, stands as a forward-looking company and a worldwide leader in hardware, software, and services. Its portfolio spans iconic devices like the iPhone, iPad, Mac, and Apple Watch, alongside widely used platforms such as the App Store, iCloud, Apple Music, and Apple TV+. The company currently boasts a market cap of $4 trillion and a Magnificent Seven status.Apple surpassed the $4 trillion mark amid the recent stock surge tied to strong demand for the iPhone 17 series, and optimistic guidance and recently peaked at $277.32 on Oct. 31. Over the past 52 weeks, the stock has shown solid, albeit not spectacular, gains with a total return of 20.9%. Year-to-date (YTD) performance has been positive, but it remains somewhat muted compared to the highest-growth tech peers. The stock has gained 7.9% this year.With the share price near its recent high and the valuation elevated, much of the upside may already be baked in, reinforcing analyst caution that without a fresh catalyst (like a broad iPhone replacement cycle), further meaningful gains could be harder to achieve.www.barchart.comThe stock is trading at a premium at 33.4 times forward earnings, compared to the sector median and its historical average.Apple released its fiscal Q4 2025 results on Oct. 30, for the quarter ended Sept. 27. The company reported total revenue of $102.5 billion, representing an 8% year-over-year (YOY) increase. Its earnings per share (EPS) came to $1.85, up 13% on an adjusted basis from the prior year and ahead of expectations. AAPL reported total revenue of $416.2 billion for the full year, representing 6.4% growth YOY.Terms and Privacy PolicyPrivacy & Cookie SettingsMore InfoS&P 5006,728.80 +8.48 (+0.13%)Dow 3046,987.10 +74.80 (+0.16%)Nasdaq23,004.54 -49.46 (-0.21%)Russell 20002,432.82 +14.00 (+0.58%)VIX19.08 -0.42 (-2.15%)Gold4,007.80 +16.80 (+0.42%)PortfolioSign in to access your portfolioSign inTop gainersGMED Globus Medical, Inc. 83.89 +22.18 (+35.94%)FROG JFrog Ltd. 60.00 +12.74 (+26.96%)EOSE Eos Energy Enterprises, Inc. 18.26 +2.97 (+19.42%)OS OneStream, Inc. 22.74 +3.66 (+19.18%)EXPE Expedia Group, Inc. 258.25 +38.55 (+17.55%)Top losersUI Ubiquiti Inc. 612.19 -147.38 (-19.40%)PRMB Primo Brands Corporation 14.46 -3.24 (-18.31%)RUN Sunrun Inc. 17.13 -3.29 (-16.11%)DIOD Diodes Incorporated 44.28 -7.52 (-14.53%)DOCS Doximity, Inc. 54.29 -8.29 (-13.25%)Most activeNVDA NVIDIA Corporation 188.15 +0.07 (+0.04%)OPEN Opendoor Technologies Inc. 6.56 0.00 (0.00%)ACHR Archer Aviation Inc. 8.18 -0.70 (-7.88%)PLUG Plug Power Inc. 2.6500 +0.1400 (+5.58%)PFE Pfizer Inc. 24.43 +0.01 (+0.04%)Earnings eventsMy earnings eventsEarnings eventsTrending tickersBTC-USD Bitcoin USD 103,746.08 +2,515.81 (+2.49%)BYND Beyond Meat, Inc. 1.3900 +0.2000 (+16.81%)ETH-USD Ethereum USD 3,449.40 +135.28 (+4.08%)BKYI BIO-key International, Inc. 0.9620 +0.3273 (+51.57%)EOSE Eos Energy Enterprises, Inc. 18.26 +2.97 (+19.42%)Top economic events