Apple Revenue Up 12.8% While P/E Hits 30.4x Near Decade High
MSFT•Apple’s revenue rose 12.8% last year via AI-powered iPhone 17 upgrades, while its five-year CAGR is 6.8% and three-year CAGR 5.4%. With a trailing P/E of 30.4 and P/S of 8.2 near decade highs, valuation assumes sustained double-digit growth over historical mid-single-digit pace.
1. Recent Revenue Surge
Apple posted 12.8% revenue growth last year, driven by strong uptake of AI-powered iPhone 17 upgrades. Quarterly guidance for the upcoming period projects 14%–17% revenue growth, underscoring management’s confidence in near-term momentum.
2. Long-Term Growth Trend
Over the past five years, Apple’s revenue compound annual growth rate stands at 6.8%, declining to 5.4% over three years. This gap highlights a mature hardware business with limited new product categories beyond the smartphone upgrade cycle.
3. Valuation Outlook
Apple’s trailing price/earnings multiple of 30.4x and price/sales of 8.2x sit near decade highs, implying the market expects the recent surge to persist. A reversion to mid-single-digit growth rates could prompt a significant multiple re-rating, even if profitability remains robust.
