Apple (AAPL) is heading into WWDC with a clear AI push, including a full Siri overhaul, new iOS 27 and iPadOS 27 tools, and Apple Intelligence powered accessibility features across its hardware lineup.

The WWDC build up comes on top of a strong run, with the share price at US$298.97 after a 10.6% 30 day share price return. The 1 year total shareholder return of 45.1% indicates that momentum has been building rather than fading.

If Apple’s AI push has your attention, it can be worth seeing what else is moving in the space by scanning 61 profitable AI stocks that aren't just burning cash

With Apple at US$298.97, only about 3% below the average analyst price target of US$308.07 and trading after a 45.1% 1 year total return, investors may question whether there is still a buying opportunity or whether future growth is already priced in.

Most Popular Narrative: 8.7% Overvalued

Compared with the latest close at $298.97, the most followed narrative pegs Apple’s fair value at $275, implying a modest premium at today’s price.

As of April 12, 2025, Apple Inc. (AAPL) is navigating a complex landscape marked by significant challenges and resilient strengths. The stock has experienced a substantial decline, dropping nearly 35% from its peak, primarily due to the imposition of steep U.S. tariffs on Chinese imports, which have reached up to 145%. Given that approximately 90% of iPhones are assembled in China, these tariffs pose a considerable threat to Apple's profit margins. Analysts estimate that the cost of an iPhone could surge from $1,199 to approximately $2,150 if these tariffs are fully passed on to consumers. In response, Apple is actively seeking tariff exemptions and accelerating its production shift to countries like India and Vietnam to mitigate these impacts.

Curious how this tariff shock still results in a premium valuation? The narrative leans heavily on resilient profits, expanding services and a richer earnings multiple. The key assumptions are worth a closer look.

Result: Fair Value of $275 (OVERVALUED)

However, this story could change quickly if tariffs increase further, or if production shifts to India and Vietnam take longer and cost more than expected.

Next Steps

With mixed signals on valuation, risks and rewards, it makes sense to look at the underlying numbers yourself and decide where you stand, starting with 3 key rewards and 1 important warning sign

Looking for more investment ideas?

If you stop with Apple, you could miss opportunities that better match your goals. Widen your watchlist with a few focused stock shortlists built from hard numbers.

• Target resilient income by reviewing companies in the 12 dividend fortresses built around higher yield payouts.
• Hunt for potential mispriced opportunities by checking the 54 high quality undervalued stocks supported by cash flows and balance sheet metrics.
• Dial down risk in your portfolio by scanning the 66 resilient stocks with low risk scores filtered for more stable profiles.

This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.