<div id="readability-page-1">Considering that it's such a dominant and innovative tech business, it's a bit surprising that Apple (AAPL 0.58%) so far hasn't been much of a leader in the artificial intelligence (AI) race. That is reflected in the share price, which has risen by just 3% so far in 2025. Investors desperately want some positive news from the management team. We won't have to wait long for a fresh update. Apple is set to report results for its fiscal 2025 fourth quarter (which ended Sept. 27) on Oct. 30. Should you buy this &#34;Magnificent Seven&#34; stock before then? <div><img src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84MzY5NzMvYmFjay1vZi1pcGhvbmUucG5nJnc9NzAw?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" width="700" height="420" original-src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84MzY5NzMvYmFjay1vZi1pcGhvbmUucG5nJnc9NzAw"/>Image source: Getty Images. </div> <h2>Apple shares still look expensive</h2> At a price-to-earnings ratio of 38.9, Apple shares trade at a rich valuation. This stock doesn't seem like a smart buy today, especially given the company's lack of progress in AI. It also doesn't help that Apple's growth has decelerated over the past three years. If Apple were to report results and guidance that came in well ahead of Wall Street analysts' estimates, then there's a high likelihood shares would jump in response. However, it's anyone's guess whether this will happen. Correctly forecasting both a company's numbers and the market's reaction to them is an impossible task to perform consistently. Investors who are considering buying Apple should not feel urgency to get in before Oct. 30. Instead, any decision about a stock purchase should be made based on at least a five-year time horizon for holding the shares. </div>

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Apple is set to report its fiscal Q4 results on Oct. 30, but its stock has only risen 3% in 2025, reflecting concerns over its AI progress and a high price-to-earnings ratio of 38.9. Analysts suggest that the stock may not be a smart buy currently, and investors should consider a long-term holding strategy rather than rushing to purchase before the earnings report.

- Apple has not emerged as a leader in the artificial intelligence sector, reflected in its modest 3% share price increase in 2025.  
- The company is set to report its fiscal 2025 fourth quarter results on October 30, which could influence investor sentiment.  
- Given its high price-to-earnings ratio of 38.9 and decelerating growth, potential investors are advised to consider a long-term investment strategy rather than rushing to buy before the earnings report.

Should You Buy Apple Stock Before Oct. 30?