These are my thoughts as well. My current TC is 247 which is comparable to what they are offering except sing-on and discretionary bonus (without a target). I do not have competing offers atm. I think it makes sense to continue searching.
stock can go as high as 250 , a competing offer may help . Depends on how you did in interviews . Refreshers at Apple are really good , as long as you keep your performance , so if you like the team and work don’t worry about a little difference in Tc , it will average out if you stay long term .