Apple stock valued at $290 to $347 per share based on profitability analysis

Financial analysts looked at Apple's stock value in October 2026 and found different opinions. Morningstar raised its fair value estimate to $290 per share, but Apple's stock was trading much higher, between $333 and $347. Apple earned $29.8 billion in profit during its third quarter, on sales of $109.4 billion. That gives the company a profit margin of 27.2%. Apple's services business, which includes subscriptions and the App Store, had a 76% gross margin. This is much higher than the 40% margin on hardware products. Some analysts question whether Apple's current price is too high. The stock trades at 35 times expected earnings, which is 81% more expensive than the average S&P 500 company. Analysts expect Apple to earn $8.82 per share in fiscal 2027.