AAPL
Apple Inc.
AAPL has lower modeled downside risk, despite its lower overall score.
DLB
Dolby Laboratories, Inc.
DLB has a slight edge over AAPL overall, supported by stronger valuation.
AAPL Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Strong | |
| Strong | |
| Strong |
AAPL's revenue, profitability, cash flow and balance sheet are all currently healthy.
DLB Fundamentals
| Metric | Status |
|---|---|
| Stable | |
| Healthy | |
| Healthy | |
| Strong |
DLB's profitability, cash flow and balance sheet are currently healthy, and its revenue is stable.
AAPL PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Cheap | 26x | $230 | -35% |
| Fair | 31x | $279 | -21% |
| Expensive | 37x | $328 | -7.5% |
| Forward | 38x | $355 | — |
| Current | 40x | $355 | — |
Historical ranges are pointers, not guarantees.
AAPL's PE is in its expensive range at 40x. If earnings grow as analysts expect, today's price would be 38x next year's earnings.
DLB PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Forward | 14x | $64.59 | — |
| Cheap | 27x | $62.50 | -3.2% |
| Current | 28x | $64.59 | — |
| Fair | 32x | $74.76 | +16% |
| Expensive | 40x | $94.26 | +46% |
Historical ranges are pointers, not guarantees.
DLB has the edge over AAPL in the historical PE scenario, which offers more potential upside but is not a forecast.
AAPL Forward outlook
| Metric | Outlook |
|---|---|
| Stable | |
| Growth | |
| Growth | |
| Weakening | |
| Moderate | |
| Moderate |
Analysts expect earnings and revenue growth for AAPL, but weaker profitability.
DLB Forward outlook
| Metric | Outlook |
|---|---|
| Strongly improving | |
| Growth | |
| Stable | |
| Strongly improving | |
| Limited | |
| High |
Analysts expect DLB's earnings to grow and its profitability to improve, with its revenue holding steady.
AAPL Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $9.28 | +3.3% |
| Q3 2026 | $8.98 | +20% |
| Q2 2026 | $8.71 | +32% |
| Q1 2026 | $8.26 | +29% |
| Q4 2025 | $7.90 | +25% |
| Q3 2025 | $7.46 | +23% |
| Q2 2025 | $6.59 | +0.2% |
| Q1 2025 | $6.42 | -0.3% |
| Q4 2024 | $6.30 | -2% |
AAPL has the edge over DLB on earnings, with more consistent year-over-year improvement.
DLB Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $4.58 | +96% |
| Q2 2026 | $2.34 | -14% |
| Q1 2026 | $2.52 | -4.2% |
| Q4 2025 | $2.47 | -8.5% |
| Q3 2025 | $2.62 | -2.6% |
| Q2 2025 | $2.71 | +24% |
| Q1 2025 | $2.63 | +35% |
| Q4 2024 | $2.70 | +41% |
| Q3 2024 | $2.69 | +31% |
DLB earned $2.34 per share over the past year, down 14% from the year before.
AAPL Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $114.5B | +12% |
| Q2 2026 | $109.4B | +16% |
| Q1 2026 | $111.2B | +17% |
| Q4 2025 | $143.8B | +16% |
| Q3 2025 | $102.5B | +7.9% |
| Q2 2025 | $94B | +9.6% |
| Q1 2025 | $95.4B | +5.1% |
| Q4 2024 | $124.3B | +4% |
AAPL has the edge over DLB on sales, with more consistent year-over-year improvement.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 31% | -0.5 points |
| Q2 2026 | 33% | +2.6 points |
| Q1 2026 | 32% | +1.3 points |
| Q4 2025 | 35% | +0.9 points |
| Q3 2025 | 32% | +0.5 points |
| Q2 2025 | 30% | +0.4 points |
| Q1 2025 | 31% | +0.3 points |
| Q4 2024 | 34% | +0.7 points |
AAPL has the edge over DLB on profitability, with a higher operating margin.
DLB Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q2 2026 | $305M | -3.3% |
| Q1 2026 | $395.6M | +7.1% |
| Q4 2025 | $346.7M | -2.9% |
| Q3 2025 | $307M | +0.7% |
| Q2 2025 | $315.5M | +9.3% |
| Q1 2025 | $369.6M | +1.4% |
| Q4 2024 | $357M | +13% |
| Q3 2024 | $304.8M | +4.9% |
DLB's revenue grew through 2023 and has held roughly level since: $305M last quarter, down 3.3% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q2 2026 | 11% | -3.8 points |
| Q1 2026 | 29% | -0.6 points |
| Q4 2025 | 18% | -4.4 points |
| Q3 2025 | 9.7% | -5.5 points |
| Q2 2025 | 15% | +2.4 points |
| Q1 2025 | 29% | -0.7 points |
| Q4 2024 | 22% | +1.4 points |
| Q3 2024 | 15% | +16 points |
DLB's operating margin was 11% last quarter, down 3.8 points from the same quarter a year ago.
AAPL Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $25.9B | -2.4% |
| Q2 2026 | $31.9B | +31% |
| Q1 2026 | $26.7B | +28% |
| Q4 2025 | $51.6B | +91% |
| Q3 2025 | $26.5B | +11% |
| Q2 2025 | $24.4B | -8.6% |
| Q1 2025 | $20.9B | +0.9% |
| Q4 2024 | $27B | -28% |
AAPL's free cash flow has been positive every quarter for seven years: $136B over the past year, up 38% from the year before.
DLB Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q2 2026 | $152.5M | +149% |
| Q1 2026 | $83.4M | -50% |
| Q4 2025 | $50.2M | -50% |
| Q3 2025 | $106.6M | -2% |
| Q2 2025 | $61.3M | +349% |
| Q1 2025 | $168M | -2.6% |
| Q4 2024 | $100M | +4229% |
| Q3 2024 | $108.8M | +42% |
DLB's free cash flow has been positive every quarter for seven years: $393M over the past year, down 10% from the year before.
AAPL Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | 0% | +5.6M shares |
| 1 year | -1.9% | -284M shares |
| 3 years | -6.9% | -1.1B shares |
| 5 years | -13% | -2.1B shares |
| Available history | -17% | -3.1B shares |
AAPL has 14.7B diluted shares, down 1.9% from a year ago, with $86.4B in buybacks over the past year.
| Quarter | Spent |
|---|---|
| Q3 2026 | $24.3B |
| Q2 2026 | $25.1B |
| Q1 2026 | $12.3B |
| Q4 2025 | $24.7B |
| Q3 2025 | $20.1B |
| Q2 2025 | $21.1B |
| Q1 2025 | $25.9B |
| Q4 2024 | $23.6B |
AAPL spent $86.4B buying back its own shares over the past year, down 4.8% from the year before.
DLB Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -1% | -997K shares |
| 1 year | -2.5% | -2.4M shares |
| 3 years | -3% | -2.9M shares |
| 5 years | -9.7% | -10.1M shares |
| Available history | -8.2% | -8.4M shares |
DLB has the edge over AAPL on shareholder dilution, with a more favorable share count trend.
| Quarter | Spent |
|---|---|
| Q2 2026 | $65M |
| Q1 2026 | $65M |
| Q4 2025 | $70M |
| Q3 2025 | $35M |
| Q2 2025 | $40M |
| Q1 2025 | $35M |
| Q4 2024 | $15M |
| Q3 2024 | $20M |
DLB spent $235M buying back its own shares over the past year, up 114% from the year before.
AAPL Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 0.3x | Very low |
| Q2 2026 | 0.3x | Very low |
| Q1 2026 | 0.2x | Very low |
| Q4 2025 | 0.3x | Very low |
| Q3 2025 | 0.4x | Very low |
| Q2 2025 | 0.5x | Very low |
| Q1 2025 | 0.5x | Very low |
| Q4 2024 | 0.5x | Very low |
AAPL's net debt is less than a year of its operating earnings (EBITDA).
DLB Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q2 2026 | -2.0x | Net Cash |
| Q1 2026 | -1.7x | Net Cash |
| Q4 2025 | -1.9x | Net Cash |
| Q3 2025 | -2.0x | Net Cash |
| Q2 2025 | -1.9x | Net Cash |
| Q1 2025 | -1.8x | Net Cash |
| Q4 2024 | -1.5x | Net Cash |
| Q3 2024 | -1.4x | Net Cash |
DLB has the edge over AAPL on leverage, with a lower net debt burden relative to earnings.
AAPL Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 68.1 | Neutral |
| Stochastic | 85.0 | Overbought |
AAPL's weekly RSI is 68 (neutral) and its Stochastic is 85 (overbought).
DLB Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 58.5 | Neutral |
| Stochastic | 78.1 | Neutral |
DLB's weekly RSI is 58 (neutral) and its Stochastic is 78 (neutral).
AAPL PE vs Technology Sector
| Metric | AAPL | Sector median | Relative |
|---|---|---|---|
| PE | 40x | 28x | 42% above |
| PE % | 96 | 35 | 61 pts above |
AAPL is trading at 40x earnings, a 42% premium to the Technology sector's median of 28x.
DLB PE vs Technology Sector
| Metric | DLB | Sector median | Relative |
|---|---|---|---|
| PE | 28x | 28x | 0.9% below |
| PE % | 22 | 35 | 13 pts below |
DLB has the edge over AAPL on valuation relative to its sector.
AAPL Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $343.1 | 3.4% above |
| 20 week MA | $329.0 | 7.9% above |
| 50 week MA | $295.6 | 20% above |
| 100 week MA | $262.4 | 35% above |
| 200 week MA | $226.3 | 57% above |
AAPL has the edge over DLB on trend strength, trading above more of its moving averages.
DLB Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $61.3 | 5.4% above |
| 20 week MA | $59.2 | 9.1% above |
| 50 week MA | $60.3 | 7.1% above |
| 100 week MA | $67.5 | 4.4% below |
| 200 week MA | $74.3 | 13% below |
DLB has bounced recently, but its long-term trend is still down: it's above its 8-, 20- and 50-week averages, but 13% below its 200-week average.
AAPL Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $72.5 | $132.0 | +82% |
| 2021 | $132.0 | $176.3 | +34% |
| 2022 | $176.3 | $131.9 | -25% |
| 2023 | $131.9 | $192.5 | +46% |
| 2024 | $192.5 | $255.6 | +33% |
| 2025 | $255.6 | $273.4 | +7% |
| 2026 YTD | $273.4 | $354.9 | +30% |
AAPL has the edge over DLB on returns for 2026, with the stronger performance.
DLB Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $68.3 | $95.3 | +39% |
| 2021 | $95.3 | $92.7 | -2.7% |
| 2022 | $92.7 | $69.2 | -25% |
| 2023 | $69.2 | $86.2 | +24% |
| 2024 | $86.2 | $78.5 | -8.9% |
| 2025 | $78.5 | $65.7 | -16% |
| 2026 YTD | $65.7 | $64.6 | -1.7% |
DLB has finished lower in four of the last six years. It's down 1.7% so far in 2026.