Key Points
- Apple shares reached $352.22 during Wednesday trading, surpassing the previous peak of $351.74.
- The company’s valuation touched approximately $5.12 trillion, with annual stock performance showing 30.02% growth.
- Fourth-quarter revenue totaled $114.5 billion, marking a 12% year-over-year increase.
- Manufacturing purchase obligations expanded by $33 billion, reaching $89.7 billion total.
- Management forecasts December-quarter gross margins of 45% to 46% amid memory cost pressures.
- Wall Street analysts adjusted price targets, with Bernstein lifting its estimate to $380 and JPMorgan cutting to $355.
Shares of Apple (AAPL) traded at $352.22 during Wednesday’s November 4 session, exceeding the prior high of $351.74. This intraday quote placed the technology giant’s market capitalization near $5.12 trillion, based on data from Investing.com. The figure represents an intraday measurement rather than a session close.
Over the trailing twelve months, Apple shares have climbed 30.02%. The recent momentum stems from quarterly earnings results, fresh hardware introductions, and revised analyst projections across Wall Street.
Trading Momentum Pushes AAPL Past Prior High
Wednesday’s rally erased much of Tuesday’s pullback, which saw shares settle at $331.90 amid investor concerns about cost inflation. The session produced gains exceeding 6%. Market participants responded to last week’s MacBook Pro announcement.
The company unveiled its refreshed laptop lineup on October 28, featuring touchscreen functionality, enhanced processors, and OLED screen technology. Preorders commenced immediately, with in-store availability scheduled for November 6. The stock declined on the day of the hardware reveal.
Revenue Growth Accompanies Rising Operating Expenses
Apple’s fiscal fourth-quarter results showed revenue of $114.5 billion, representing 12% growth versus the prior-year period. The company delivered earnings of $2.10 per share, with iPhone sales establishing a September-quarter benchmark. Full-year revenue approached $479 billion. Services generated record revenue, and Mac sales expanded 24%.
The company’s manufacturing purchase commitments grew $33 billion quarter-over-quarter to $89.7 billion in the September period. Management indicated elevated memory component pricing will influence December-quarter financial performance. Projected gross margins range from 45% to 46%, down from 47.9% in the prior quarter. Revenue guidance for the December period calls for 7% to 10% year-over-year expansion.
Wall Street Revises Price Projections for AAPL
Bernstein elevated its Apple price objective from $370 to $380, highlighting opportunities in artificial intelligence services and potential market share expansion across smartphones and computing devices. The firm reduced earnings projections for fiscal years 2027 and 2028 while retaining an Outperform rating.
Evercore ISI preserved its $380 target alongside an Outperform rating. Wedbush held its $400 estimate, emphasizing the company’s revenue trajectory. DA Davidson boosted its target to $295, while JPMorgan decreased its projection to $355 based on services revenue and margin considerations.
In separate developments, the New York Stock Exchange revealed additional collaborators for its planned tokenized stock trading platform. Apple has yet to be identified as a participant in that initiative.
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