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But things have recently taken a turn.
Apple (AAPL)stockdipped nearly 5% earlier this month.
The drop didnt come without warning.
As of Feb. 4, AAPL is trading at $232.80 up by over 2%.
Will it go higher this year?How high could it go?
Zoom in a bit, and the shares have nearly tripled over the past five years.
The days of double digit growth are, at least at present, over.
The pressure is now back on the performance of the iPhone.
Apple is trading for a little more than 30 times this years expected earnings, Munarriz said.
With its $3.4 trillion market cap, Apple is the most valuable U.S. exchange-listed company.
Jason DeLorenzo, CEO ofVolland Research, is of the opinion that Apple is overvalued.
The PE Ratio is currently ~39, which is fine for a growth stock, he said.
If it overcomes its challenges by flooring the gas on innovation, it could reach record highs.
Therefore, if AAPL avoids any negative catalysts such as missing earnings, those upside levels should be met.
Tariffs will hurt Apple strongly since a lot of their manufacturing is in China, DeLorenzo said.
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