Even with a market capitalization reaching $5 trillion, Apple still has room to grow.
Melius Research believes that Apple stock retains the potential for further gains, despite describing the company’s climb to a $5 trillion market cap as one of the most contentious rallies to date.
The firm noted that investor concerns include rising memory costs, pressures on the services segment, and the stock’s high valuation—having risen 26% since the beginning of 2026, outperforming several other major technology companies.
Melius Research maintained its "buy" rating with a price target of $370, pointing to the possibility of additional gains following the company’s earnings announcement scheduled for November 2.
