# AAPL – Relative valuation (2026-11-10)

Sample run by the Fair Value Coordinator. Forward multiples where public consensus exists (Fwd P/E, Fwd EV/Sales = Fwd P/S x EV/market cap, Fwd P/FCF = market cap / FY1 consensus FCF); EV/EBITDA is TTM because forward EBITDA consensus is not on the free source (data gap). Low/mid/high = peer Q1/median/Q3. TSM excluded from Fwd P/FCF (source forecast in TWD).

### Peer set: peers MSFT, GOOG, AMZN, META, DELL, QCOM

| Peer | Fwd P/E | Fwd EV/Sales | EV/EBITDA (TTM) | Fwd P/FCF |
|---|---|---|---|---|
| MSFT | 25.7x | 9.7x | 19.6x | 121.1x |
| GOOG | 20.3x | 5.7x | 18.4x | n/a |
| AMZN | 27.4x | 3.4x | 17.0x | n/a |
| META | 19.5x | 5.6x | 14.4x | n/a |
| DELL | 11.9x | 1.1x | 13.3x | 17.6x |
| QCOM | 18.1x | 4.3x | 18.3x | 22.3x |

| Multiple | AAPL now | Peer Q1 / median / Q3 (n) | Implied $/share low / mid / high |
|---|---|---|---|
| Fwd P/E | 37.1x | 18.4x / 19.9x / 24.3x (6) | $173.34 / $186.94 / $228.82 |
| Fwd EV/Sales | 9.6x | 3.6x / 5.0x / 5.7x (6) | $132.52 / $181.05 / $207.32 |
| EV/EBITDA (TTM) | 29.4x | 15.0x / 17.6x / 18.4x (6) | $180.37 / $210.93 / $220.14 |
| Fwd P/FCF | 34.2x | 19.9x / 22.3x / 71.7x (3) | $203.42 / $227.34 / $731.23 |

**Implied range (Peer set): $172.41 / $201.57 / $346.88** (equal-weight average of usable multiples)


Sources: stockanalysis.com statistics + forecast pages for AAPL and each peer (S&P Global Market Intelligence data), fetched 2026-11-10 ~8:45 PM MST (Phoenix).