Key Points
Apple Inc. (NASDAQ: AAPL) has seen a stock price increase of approximately 18% in 2023, outperforming the S&P 500, which is up around 13%. However, challenges loom as new CEO John Ternus faces potential headwinds from rising memory chip prices, a situation that could significantly impact Apple’s profitability.
In recent earnings calls, former CEO Tim Cook highlighted the pressure from AI firms consuming memory chip capacity, leading to increased costs for Apple. Analysts suggest that if Apple’s valuation aligns with the industry average of 25 times forward earnings, its stock price could drop from about $320 to approximately $240 per share by fiscal year 2027.
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