Our Apple (NASDAQ:AAPL) call is straightforward: the stock looks undervalued heading into the April 30 earnings print. Apple trades at $267.61, and our 24/7 Wall St. price target points to $323.19 over the next 12 months, implying 20.77% upside. Our model assigns a buy rating with high confidence.

Quick Read

• Apple (AAPL) trades at $267.61 with a 24/7 Wall St. price target of $323.19, implying 20.77% upside, supported by Q1 FY2026 revenue of $143.76B (+15.7% YoY), record iPhone revenue of $85.27B (+23.3%), and Services reaching $30.01B.

• Apple’s valuation appears compelling ahead of the April 30 earnings report, with iPhone 17 demand described as unprecedented, Greater China rebounded to $25.53B from $18.51B year-over-year, and Polymarket assigning 85.5% probability to a foldable iPhone before 2027.

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24/7 Wall St. Price Target Summary

With a 90% confidence rating and a trajectory toward $475, Apple’s upcoming earnings print could be the final gate before a massive valuation breakout. © 24/7 Wall St.

A Choppy Run Into Earnings

Apple has been digesting a strong rally. Shares are down 1.99% over the past week and down 1.47% year to date, but still up 28.42% over the past year and trading just 3% below the 52-week high of $288.35.

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The fundamentals are accelerating. In Q1 FY2026, Apple posted revenue of $143.76 billion (+15.7% YoY) and EPS of $2.84, beating consensus by 6.34%. iPhone revenue hit a record $85.27 billion (+23.3%) and Services reached an all-time high of $30.01 billion. CEO Tim Cook called it a “remarkable, record-breaking quarter”. The next print lands April 30, 2026, after market close.

The Case for $367 and Higher

Our bull case puts Apple at $367.23 within 12 months, a 37.23% return. The drivers are real. iPhone 17 demand is described as “unprecedented”, Greater China rebounded to $25.53 billion from $18.51 billion a year earlier, and Polymarket traders assign 85.5% probability to a foldable iPhone before 2027 and 91.5% probability to an iPhone 18 launch in 2026.

Apple Intelligence, an installed base of 2.5 billion devices, and a $100 billion buyback authorization round out the upside.

The Risks Worth Watching

The bear case lands at $278.18, a modest 3.95% gain. Apple trades at a trailing P/E of 34x and a forward P/E of 32x, leaving little room for disappointment on tariffs, the DOJ Google search case, or a China slowdown.