Shares of iPhone maker Apple Inc. ( AAPL , Financial) have been steadily climbing higher since bottoming out back in January 2023. While the relief rally has run out of traction, with shares now commanding a price-earnings ratio of 26.26 (still a tad higher than that of historical averages), Apple stock still seems richly valued and ripe for a pullback.
Apple Stock Looks Expensive, But May Actually Be Cheap