Is Apple Expensive Now?

The biggest chunk of their revenue came from iPhone sales, accounting for 52.11% of the total. Services Revenue, which includes things like the App Store and Apple Music, contributed 19.81%. The sales of Wearables, Home, and Accessories made up 10.46%, while Mac and iPad sales contributed 10.19% and 7.43%, respectively. So, iPhones are the most important part of their business, showing that they are doing really well in the smartphone market.

Despite challenges in the tech industry, Apple has managed to do well in selling their products. While other companies like Samsung and Xiaomi saw declines in smartphone sales, Apple's iPhone revenue actually increased by 2% in the first quarter of 2023.

Apple has also been successful in growing its Services Revenue, which is good news for the company. This means they are making money not just from selling devices but also from digital services.

Because of Apple's strong performance and resilience, its stock is usually priced higher compared to other companies. Currently, its price-to-earnings (PE) ratio is 33 times, which might seem expensive, but many investors believe it's still a good investment for the long term.