Apple's stock price rose to a record high during trading on Wednesday, with its market value briefly returning above $5 trillion, but this level could not be maintained. During the latest trading session, AAPL fell back after reaching its peak, indicating that the market remains cautious about its high valuation.
After breaking through during the session, it quickly fell back down.
Data shows that Apple's stock price once rose to $344.18, pushing the company's market value briefly above $5 trillion. However, by 14:28 UTC, the stock price fell back to $336.98, a decrease of about 0.8% for the day, corresponding to a market value of approximately $4.96 trillion.
This means that although Apple has once again crossed the $5 trillion mark during the trading day, whether it can close at this level still depends on its performance in the late hours of the day. Previously, Apple had briefly reached this valuation range on July and September 22nd of this year.
New products become test points for growth.
The market is currently focusing on Apple's new product cycle. On September 9th, Apple released the iPhone Duo, introducing its first foldable screen iPhone, and also began to push the beta version of Siri AI features to new devices.
These updates provide new reasons for existing users to upgrade their devices, but whether this will truly translate into increased sales volume remains to be verified by subsequent financial reports. Morgan Stanley analyst Erik Woodring maintains a target price of $360 for Apple and estimates that 57% of iPhone users are still using models that are 15 Pro generations older than the current ones. This figure reflects more potential for device upgrades than actual purchase forecasts.
Valuation still depends on iPhone sales.
Apple's previously disclosed quarterly results for June showed that the company's revenue for that quarter was $109.4 billion, a year-on-year increase of 16%. Of this, iPhone sales amounted to approximately $54.3 billion, and service business revenue was about $30.7 billion.
However, the market remains cautious about future growth. In July, Apple provided guidance for its revenue growth in the September quarter of 9% to 11%, which is lower than the analysts' previous expectation of around 12%. Management also mentioned supply pressures at that time, which led to a significant decline in Apple's stock price before the market opened after the earnings report.
Breaking through $5 trillion in market value only to then fall back reflects that investors, on one hand, recognize Apple's current profit base, while on the other hand, they are still waiting to see whether new hardware and AI features can support more sustained growth.
