Apple's quarter is not perfect. But with enough to like, we raised our price target
- ID
- 42291
- Status
- summarized
- Published
- 03 Nov 2026, 8:55 AM
- Fetched
- 03 Nov 2026, 9:50 AM
- Provider
- CNBC Technology
- Category
- technology
- Original URL
- https://www.cnbc.com/investingclub/2026/11/02/apples-quarter-is-not-perfect-but-with-enough-to-like-we-raised-our-price-target.html
- Source URL
- https://www.cnbc.com/id/19854910/device/rss/rss.html
Summary
- Score
- 3.0
- Created
- 03 Nov 2026, 9:51 AM
- Tags
- Audience
- founders
What happened
Apple reported fiscal Q4 2026 revenue of $114.48 billion, up 12% year over year and above the $113.39 billion LSEG consensus, with EPS up 14% to $2.10 versus $1.99 expected. Guidance was mixed: services revenue growth slowed and high memory costs are eating into margins, even as Apple bought back $24 billion of stock in the quarter ($86 billion over 12 months) and the stock ran up 25% year to date to a valuation above 35x forward EPS. The piece is an Investing Club note raising its price target, not a product or platform announcement.
Why it matters
The one builder-relevant signal is memory cost pressure showing up in Apple's margin guidance — that likely flows into DRAM/NAND pricing for anyone speccing laptops, phones, on-prem boxes, or edge devices in the next few quarters, so treat hardware BOM assumptions as stale and re-quote before locking a budget. Everything else here is shareholder math (12% revenue growth, 35x forward earnings, $24B buyback) with no action for developers or founders.
Discussion angle
If memory costs are squeezing Apple's margins, which of your hardware or cloud line items are exposed — and would you lock pricing now or wait a quarter?