Depends on what you mean by “a lot” of AP courses, and which ones.
At pretty much any selective college, doing well in more rigorous course work is the biggest factor in admissions. At the super-selective colleges, most applicants than they have space for will have top-end grades in the most rigorous course work available to them, so extracurriculars like community service get magnified in importance to distinguish between those applicants.
How much more added value an AP course adds depends on which one. For example, if you complete precalculus in 11th grade or earlier, choosing to take AP calculus versus stopping math can be significant. The same would apply to choosing AP versus regular 12th grade English or history. But if you already have rigorous course work in the usual core subjects (English, math, history and social studies, science, foreign language, art or music), then adding one of the lighter AP electives like environmental science, human geography, or statistics may not be as significant, and may even be a negative if it displaces other core courses like the third or fourth year of foreign language, one of the core sciences (biology, chemistry, physics), or math higher than algebra 2.