Apple-to-Apple comparison: The ₹1.5 lakh iPhone you bought in Sept 2025 vs the Apple shares you could have bought

Ahead of the highly anticipated iPhone 18 launch, all eyes are once again on Apple. But with the company’s flagship iPhones commanding premium prices, the launch also raises an interesting question for consumers: what if, instead of buying an iPhone, you had invested the same money in Apple shares?

While comparing the iPhone, a depreciating consumer asset, to Apple stock, i.e., equity, may seem odd, this comparison offers an interesting contrast between the value created by owning a product and owning the company's stock. Critics may even dub it an "apple-to-apple" comparison.

Apple stocks rise since September 2025

Apple closed at around $234 on September 9, 2025, around the launch of the iPhone 17 Pro. Since then, the stock has risen sharply to $320, representing a gain of roughly 36% in dollar terms.

Apple’s financial performance provided a major push to the stock market rally. Its fiscal Q1 2026 revenue hit a record $143.8 billion, up 16% year-on-year, with iPhone and services both reaching all-time highs. Revenue remained strong in subsequent quarters, with the March quarter recording $111.2 billion and the June quarter $109.4 billion.

For an Indian investor, the return would have been even higher in rupee terms because the rupee has weakened against the dollar over the same period.

That means a ₹1.5 lakh investment in Apple shares in September last year would be worth roughly ₹2.2 lakh today, before taxes, fees and dividends. A total of ₹70,000 gain in just one year. In contrast, the iPhone 17 Pro bought for ₹1.5 lakh would, like most smartphones, have depreciated in resale value over the same period.

Should investors continue investing in Apple shares?

Apple is still one of the best businesses in the world. But that does not always mean its stock is attractive at every price. Also, because Apple is already such a large company, investors should not expect it to grow as fast as it did in the past or deliver the same extraordinary returns, pointed out Viram Shah, Founder & CEO, Vested Finance,

The investment case today rests on three things:

• First, the strength of the ecosystem and the more than 2.5 billion active devices Apple reported earlier this year.
• Second, the continued expansion of Services creates a recurring, higher-margin revenue stream around that installed base.
• And third, Apple's ability to turn AI from a perceived weakness into a new product and ecosystem opportunity.

“Investors should be conscious of valuation and expectations. Apple is already a mega-cap company, so the bar is high. Supply-chain costs, tariffs, China, competition in AI and the pace of iPhone upgrades are all risks. I would therefore view Apple as a long-term quality business rather than a stock to buy simply because it has gone up,” Shah added.