Apple

AAPL

Consumer Electronics · Technology

Price

$313.33

+0.92 (+0.29%)

Market Cap

$4.60T

Exchange

NASDAQ

Winston Score

Winston is curious

A decent business — some strong pillars, some weaker.

Data as of Aug 9, 2026 · filings through Jun 27, 2026

Share count falling — buybacks

−11.0% over 4y

The company has reduced its share count over this period, returning value to shareholders through buybacks.

Diluted shares outstanding: 16.86B (2021) → 15.00B (2025)

Apple makes smartphones, computers, tablets, and smartwatches that millions of people use every day. Its most important product is the iPhone, which accounts for the majority of its revenue. Apple sells directly to everyday consumers and businesses worldwide, and it is one of the most recognized consumer technology brands on the planet.

Apple makes money by selling hardware at premium prices and through a fast-growing services business that includes the App Store, Apple Music, iCloud, and Apple TV+. It operates in over 100 countries and generates hundreds of billions in annual revenue, making it one of the largest companies in the world by market value. Its main competitive advantage is a tightly connected ecosystem of devices and software that makes it hard for customers to switch to competitors. The biggest risk Apple faces is its heavy dependence on the iPhone, meaning any slowdown in smartphone demand or supply chain disruption could significantly hurt its results.

Winston Score History

Politician Trades

79 trades / 12mo

42 Congressional buys and 37 sells on AAPL in the last 12 months.

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Growth Profile

For growth stock investors

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

+16.4% YoY

YoY Growth Rate

Steady revenue growth

EPS Growth

+29.9% YoY

YoY Growth Rate

EPS growth accelerating

R&D Spend

$34.5B/ year

↑ Rising (+10% vs prior year)

8.3% of revenue

Below sector average (15%)

R&D investment increasing — building for the future

Insider Activity

0.2%ownership

→ Flat

Insider ownership roughly steady over the past year

Cash Position

Cash flow positive

$146.5B cash & investments

Quarterly Free Cash Flow

↑ Burn rate improving

Company generates more cash than it spends — no dilution risk from fundraising

Growth + cash flow

Apple is a rare growth stock that's already generating positive cash flow while growing at 16%. The Winston Score doesn't fully credit this transition from "burner" to "earner."

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

Each metric is explained in plain language so you know exactly what you're looking at. Start your free trial now.

Quality

Gross Margin

50.1%

Healthy — 50.1% gross margin

Operating Margin

32.6%

Excellent — 32.6% operating margin

ROCE

18.6%

Strong — 18.6% return on capital

ROIC between 15% and 25%. Every dollar invested in the business earns 15 to 25 cents back per year.

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Growth

Sales YoY

+14.2%

Fast-growing sales (+14.2% YoY)

EPS YoY

+32.7%

Earnings growing fast (+32.7% YoY)

Earnings growing 25%+ a year. The compounder zone.

EPS Consistency

7/8 quarters

Every recent quarter grew earnings vs last year

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Cash Flow

Cash Conversion

114%

Turns 114% of profit into real cash

FCF Margin

28.9%

Converts sales into free cash efficiently (28.9%)

Free cash flow margin above 20%. Out of every $100 in sales, more than $20 is real cash they keep.

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Stability

Debt / Equity

0.78

Moderate — manageable debt (0.78)

Interest Cover

100.00x

—

Comfortably covers interest (100.0x)

Interest coverage above 8. Profits cover interest many times over.

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Valuation

P/E Ratio (TTM)

35.8x

Pricey — P/E 35.8

P/E over 35. The market is pricing in heavy, sustained growth.

P/E vs Forward

+4.8

GROWING

Earnings expected to grow meaningfully — cheaper on forward P/E (35.8 → 31.0)

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Dividends

Dividend Yield

0.32%

Small dividend — 0.32% yield

Modest yield. The bulk of any return needs to come from price appreciation.

Dividend Growth

+4.0%

Dividend growing modestly (4.0% YoY)

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