Apple stock is surging over 20% this year, outpacing the S&P 500 despite Tim Cook’s exit and fading AI hype — investors see it as a safe bet while rivals take on debt for AI. New iPhones rumored for later this year, with higher prices and AI features, could fuel sales and services growth. But valuations are stretched: P/E over 30, EV/EBITDA and EV/sales all above historical norms — signaling the market expects near-perfect, domination-level performance. Can Apple deliver?
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