KeyBanc Turns Cautious on Apple Stock as Valuation Concerns Grow. It’s Due for Profit-Taking.

Over the last few weeks, shares of Apple rallied from about $245 to a high of $303.20. All thanks to exceptional quarterly results, strong guidance, a massive $100 billion stock buyback, and strong demand for its iPhone 17 in the U.S. and China. In fact, in its most recent quarter, Apple said revenue soared 17% year-over-year (YOY) to $111.18 billion. Analysts were only looking for $109.66 billion. EPS of $2.01 easily beat expectations of $1.95 per share. Investor confidence strengthened considerably after Apple delivered another quarter that exceeded Wall Street expectations across several key metrics.

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