Apple stopped growing the iPhone and somehow the stock got even more expensive

Apple's iPhone business stopped growing 4 years ago. The stock got more expensive anyway.

iPhone sales went from $45 billion when Tim Cook took over to more than $200 billion, then stalled near $200 billion since 2021. In the same stretch the stock re-rated to 33x forward… pic.twitter.com/yLbIXsCY1T

— Kurt S. Altrichter, CRPS® (@kurtsaltrichter) September 1, 2026