Track market-moving stories before they get noisy

Apple Inc. delivered a headline earnings and revenue beat, but the stock fell 7% as the market repriced its premium multiple. Gross margin of 50.1% was inflated by tariff refunds, and Services revenue missed estimates, undermining the premium valuation thesis. AAPL trades at 35x forward earnings with just 8% EPS growth, yielding a PEG of 3.2—an unsustainable premium absent reacceleration.

CNBC's MacKenzie Sigalos reports on the latest developments in the Apple–OpenAI lawsuit.

Posted by Defense World Staff on Aug 4th, 2026

Arjuna Capital boosted its holdings in shares of Apple Inc. (NASDAQ:AAPL – Free Report) by 2.9% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 112,874 shares of the iPhone maker’s stock after purchasing an additional 3,211 shares during the quarter. Apple makes up 7.3% of Arjuna Capital’s holdings, making the stock its 2nd largest position. Arjuna Capital’s holdings in Apple were worth $28,646,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of AAPL. Reyes Financial Architecture Inc. lifted its holdings in Apple by 0.4% during the third quarter. Reyes Financial Architecture Inc. now owns 9,898 shares of the iPhone maker’s stock valued at $2,520,000 after purchasing an additional 37 shares in the last quarter. WESPAC Advisors LLC increased its stake in shares of Apple by 0.3% during the fourth quarter. WESPAC Advisors LLC now owns 12,326 shares of the iPhone maker’s stock worth $3,351,000 after purchasing an additional 39 shares in the last quarter. Interactive Financial Advisors Inc. increased its stake in shares of Apple by 4.0% during the fourth quarter. Interactive Financial Advisors Inc. now owns 1,051 shares of the iPhone maker’s stock worth $286,000 after purchasing an additional 40 shares in the last quarter. Sugar Maple Asset Management LLC raised its position in shares of Apple by 2.0% during the 1st quarter. Sugar Maple Asset Management LLC now owns 2,029 shares of the iPhone maker’s stock worth $515,000 after purchasing an additional 40 shares during the last quarter. Finally, Orion Investment Co raised its position in shares of Apple by 0.3% during the 4th quarter. Orion Investment Co now owns 14,354 shares of the iPhone maker’s stock worth $3,902,000 after purchasing an additional 41 shares during the last quarter. 67.73% of the stock is owned by institutional investors and hedge funds.

Apple Stock Down 1.8% AAPL stock opened at $303.42 on Tuesday. The company has a current ratio of 1.00, a quick ratio of 0.93 and a debt-to-equity ratio of 0.66. The firm has a 50-day moving average of $309.40 and a two-hundred day moving average of $281.90. Apple Inc. has a 12 month low of $201.68 and a 12 month high of $344.57. The company has a market cap of $4.46 trillion, a price-to-earnings ratio of 34.80, a PEG ratio of 2.65 and a beta of 1.09.

Apple (NASDAQ:AAPL – Get Free Report) last issued its earnings results on Thursday, July 30th. The iPhone maker reported $2.02 earnings per share for the quarter, topping the consensus estimate of $1.89 by $0.13. The business had revenue of $109.42 billion for the quarter, compared to analysts’ expectations of $109.04 billion. Apple had a return on equity of 135.46% and a net margin of 27.62%.The business’s revenue for the quarter was up 16.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.57 EPS. As a group, analysts forecast that Apple Inc. will post 8.8 earnings per share for the current fiscal year.

Apple Announces Dividend The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 13th. Investors of record on Monday, August 10th will be given a dividend of $0.27 per share. The ex-dividend date is Monday, August 10th. This represents a $1.08 dividend on an annualized basis and a yield of 0.4%. Apple’s dividend payout ratio (DPR) is presently 12.39%.

Insider Transactions at Apple In other Apple news, insider Ben Borders sold 116 shares of the company’s stock in a transaction on Tuesday, June 16th. The stock was sold at an average price of $295.14, for a total value of $34,236.24. Following the completion of the sale, the insider directly owned 38,713 shares in the company, valued at $11,425,754.82. This represents a 0.30% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 0.06% of the stock is currently owned by insiders.

Trending Headlines about Apple Here are the key news stories impacting Apple this week:

Positive Sentiment: India proposed extending tax exemptions through 2041 for foreign companies supplying equipment to contract manufacturers. The policy could lower Apple’s manufacturing costs and support its strategy of shifting more iPhone production to India. India proposes extending tax breaks for contract manufacturing in a boost for Apple Positive Sentiment: Apple continues to generate substantial free cash flow, with analysts expecting strong cash generation to continue alongside higher revenue forecasts. This supports shareholder returns and provides financial flexibility, although the stock’s valuation limits the upside case. Apple Delivers Strong Free Cash Flow, But What is the Best AAPL Play? Positive Sentiment: A reported deal with PlasmaSolve could help Apple develop thinner, stronger device finishes by using software simulations before factory testing, potentially improving manufacturing yields and reducing testing costs. Apple Stock Drops as PlasmaSolve Deal Targets Thinner and Stronger Devices Wall Street Analyst Weigh In Several research firms recently issued reports on AAPL. Sanford C. Bernstein reiterated an “outperform” rating on shares of Apple in a report on Monday, June 8th. Bank of America reissued a “buy” rating and set a $380.00 target price on shares of Apple in a report on Thursday, June 18th. Raymond James Financial restated a “market perform” rating on shares of Apple in a research report on Friday. Jefferies Financial Group reaffirmed a “hold” rating on shares of Apple in a research note on Tuesday, June 9th. Finally, Robert W. Baird boosted their price target on Apple from $310.00 to $330.00 and gave the stock an “outperform” rating in a research report on Friday, July 24th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, ten have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, Apple currently has a consensus rating of “Moderate Buy” and a consensus target price of $331.60.

Read Our Latest Stock Analysis on Apple

Apple Company Profile (Free Report)

Apple Inc (NASDAQ: AAPL) is a multinational technology company headquartered in Cupertino, California, founded in 1976 by Steve Jobs, Steve Wozniak and Ronald Wayne. The company designs, develops and sells consumer electronics, software and services. Over its history Apple has evolved from personal computers to a broad portfolio that spans mobile devices, wearables, home entertainment and digital services.

Apple’s principal hardware products include the iPhone smartphone, iPad tablet, Mac personal computers, Apple Watch wearable devices and a range of accessories such as AirPods and HomePod.

Read More Five stocks we like better than Apple SpaceX’s First Earnings Report Could Decide Whether Shorts or Bulls Have Control Why Rare Earth Processing Could Be the Real 2027 Opportunity The S&P 493 Are Staging a Comeback—This Value ETF Offers Broad Exposure TSMC Insiders Are Buying the Pullback—But Is the Signal as Bullish as It Looks? Want to see what other hedge funds are holding AAPL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Apple Inc. (NASDAQ:AAPL – Free Report).

Receive News & Ratings for Apple Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Apple and related companies with MarketBeat.com's FREE daily email newsletter.

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Posted by Defense World Staff on Aug 4th, 2026

AIA Group Ltd increased its holdings in Apple Inc. (NASDAQ:AAPL – Free Report) by 5.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 457,049 shares of the iPhone maker’s stock after acquiring an additional 25,068 shares during the quarter. Apple makes up about 1.7% of AIA Group Ltd’s holdings, making the stock its 9th biggest position. AIA Group Ltd’s holdings in Apple were worth $115,994,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of AAPL. First National Bank of Hutchinson raised its position in Apple by 24.6% during the 4th quarter. First National Bank of Hutchinson now owns 35,319 shares of the iPhone maker’s stock worth $8,845,000 after buying an additional 6,982 shares during the last quarter. Eagle Capital Management LLC boosted its holdings in shares of Apple by 0.5% in the fourth quarter. Eagle Capital Management LLC now owns 54,085 shares of the iPhone maker’s stock valued at $13,544,000 after acquiring an additional 272 shares in the last quarter. Brighton Jones LLC increased its stake in shares of Apple by 14.8% during the fourth quarter. Brighton Jones LLC now owns 537,314 shares of the iPhone maker’s stock worth $134,554,000 after acquiring an additional 69,207 shares during the period. Revolve Wealth Partners LLC increased its stake in shares of Apple by 4.2% during the fourth quarter. Revolve Wealth Partners LLC now owns 66,857 shares of the iPhone maker’s stock worth $16,742,000 after acquiring an additional 2,695 shares during the period. Finally, Highview Capital Management LLC DE raised its holdings in Apple by 2.4% during the fourth quarter. Highview Capital Management LLC DE now owns 50,264 shares of the iPhone maker’s stock worth $12,587,000 after purchasing an additional 1,155 shares in the last quarter. Hedge funds and other institutional investors own 67.73% of the company’s stock.

Apple Stock Down 1.8% AAPL opened at $303.42 on Tuesday. The business’s fifty day moving average is $309.40 and its two-hundred day moving average is $281.90. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.93 and a current ratio of 1.00. The company has a market cap of $4.46 trillion, a price-to-earnings ratio of 34.80, a PEG ratio of 2.65 and a beta of 1.09. Apple Inc. has a one year low of $201.68 and a one year high of $344.57.

Apple (NASDAQ:AAPL – Get Free Report) last posted its earnings results on Thursday, July 30th. The iPhone maker reported $2.02 earnings per share for the quarter, beating the consensus estimate of $1.89 by $0.13. The company had revenue of $109.42 billion for the quarter, compared to analyst estimates of $109.04 billion. Apple had a return on equity of 135.46% and a net margin of 27.62%.Apple’s revenue was up 16.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.57 earnings per share. Analysts anticipate that Apple Inc. will post 8.8 EPS for the current fiscal year.

Apple Dividend Announcement The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 13th. Investors of record on Monday, August 10th will be paid a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date of this dividend is Monday, August 10th. Apple’s dividend payout ratio is presently 12.39%.

Apple News Roundup Here are the key news stories impacting Apple this week:

Positive Sentiment: India proposed extending tax exemptions through 2041 for foreign companies supplying equipment to contract manufacturers. The policy could lower Apple’s manufacturing costs and support its strategy of shifting more iPhone production to India. India proposes extending tax breaks for contract manufacturing in a boost for Apple Positive Sentiment: Apple continues to generate substantial free cash flow, with analysts expecting strong cash generation to continue alongside higher revenue forecasts. This supports shareholder returns and provides financial flexibility, although the stock’s valuation limits the upside case. Apple Delivers Strong Free Cash Flow, But What is the Best AAPL Play? Positive Sentiment: A reported deal with PlasmaSolve could help Apple develop thinner, stronger device finishes by using software simulations before factory testing, potentially improving manufacturing yields and reducing testing costs. Apple Stock Drops as PlasmaSolve Deal Targets Thinner and Stronger Devices Insider Buying and Selling In other Apple news, insider Ben Borders sold 116 shares of the firm’s stock in a transaction dated Tuesday, June 16th. The shares were sold at an average price of $295.14, for a total transaction of $34,236.24. Following the completion of the transaction, the insider directly owned 38,713 shares in the company, valued at approximately $11,425,754.82. This trade represents a 0.30% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders own 0.06% of the company’s stock.

Analyst Ratings Changes AAPL has been the subject of a number of recent analyst reports. Wells Fargo & Company restated an “overweight” rating and issued a $350.00 price objective (up from $310.00) on shares of Apple in a research report on Friday. Maxim Group reiterated a “buy” rating and set a $350.00 target price (up from $310.00) on shares of Apple in a research report on Tuesday, June 9th. BNP Paribas Exane raised Apple from a “neutral” rating to an “outperform” rating and set a $300.00 target price for the company in a research note on Friday, April 17th. UBS Group reissued a “neutral” rating on shares of Apple in a report on Friday. Finally, KGI Securities downgraded Apple from an “outperform” rating to a “hold” rating and set a $315.00 price target on the stock. in a research note on Monday, June 22nd. One research analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, ten have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $331.60.

Read Our Latest Stock Report on Apple

Apple Company Profile (Free Report)

Apple Inc (NASDAQ: AAPL) is a multinational technology company headquartered in Cupertino, California, founded in 1976 by Steve Jobs, Steve Wozniak and Ronald Wayne. The company designs, develops and sells consumer electronics, software and services. Over its history Apple has evolved from personal computers to a broad portfolio that spans mobile devices, wearables, home entertainment and digital services.

Apple’s principal hardware products include the iPhone smartphone, iPad tablet, Mac personal computers, Apple Watch wearable devices and a range of accessories such as AirPods and HomePod.

See Also Five stocks we like better than Apple SpaceX’s First Earnings Report Could Decide Whether Shorts or Bulls Have Control Why Rare Earth Processing Could Be the Real 2027 Opportunity The S&P 493 Are Staging a Comeback—This Value ETF Offers Broad Exposure TSMC Insiders Are Buying the Pullback—But Is the Signal as Bullish as It Looks? Want to see what other hedge funds are holding AAPL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Apple Inc. (NASDAQ:AAPL – Free Report).

Receive News & Ratings for Apple Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Apple and related companies with MarketBeat.com's FREE daily email newsletter.

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Apple is now seeking a preliminary injunction in its trade secrets case against OpenAI, which aims to stop the AI model maker from moving forward with developing an AI device or other products based on Apple’s technology. The iPhone maker also claims that more of its former employees may be involved with the trade secrets theft.

In a new filing, Apple is requesting expedited discovery from the accused OpenAI employees, senior systems engineer Chang Liu and Chief Hardware Officer Tang Yew Tan; OpenAI, and its foundation; and io, the device startup co-founded by Apple’s former lead designer Jony Ive.

Apple also notes that its continued investigation has so far revealed 11 other former Apple employees beyond Liu and Tan may have been witnesses or otherwise involved in the case, and others who were previously named in the original complaint, like OpenAI employee Yu-Ting Peng.

The filing marks an escalation in Apple’s legal battle with OpenAI, as it suggests Apple has uncovered new evidence that the misconduct goes beyond the former employees named in the original complaint.

“For example, another former Apple employee seems to have met with Mr. Liu and Ms. Peng in advance of Ms. Peng’s interview at OpenAI and discussed with them during that meeting Apple proprietary information relating to unannounced products,” the filing states. “Yet another former Apple employee took screenshots of confidential Apple documents relating to an unannounced Apple product before an interview at OpenAI.”

“And, after Apple filed its complaint, multiple former Apple employees now working at OpenAI reached out to discuss returning Apple-issued work devices they kept when they left Apple,” Apple claims, suggesting there were more who were possibly involved with the scheme.

Apple is pushing the court to allow for expedited discovery because it believes it has good cause to suspect that there are others involved in the theft of its intellectual property. The company noted that its motion for a preliminary injunction is also pending.

OpenAI responded publicly to Apple’s latest, saying in a blog post that Apple’s request for a preliminary injunction is “both based on false information and completely unnecessary because we do not have, nor want, any of their trade secrets.”

“We’re much more interested in building innovative products and technologies that push the frontier,” OpenAI’s statement reads.

The AI model maker also pointed to earlier mistakes Apple made, which had been reported, including that Apple emailed the wrong person when it made contact with OpenAI after confusing two similar surnames. OpenAI also alleges that Apple lied about discussing matters with its general counsel. And, the company said that Apple didn’t admit to the claim that the “residual access” allowing former employees to access Apple’s system was the result of poor security procedures on Apple’s part.

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Sarah has worked as a reporter for TechCrunch since August 2011. She joined the company after having previously spent over three years at ReadWriteWeb. Prior to her work as a reporter, Sarah worked in I.T. across a number of industries, including banking, retail and software.

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Apple delivered record Q3 2026 results, led by strong iPhone and Mac sales, but faces emerging margin headwinds. Gross margin expansion was buoyed by a one-off tariff refund; underlying margins are pressured by rising memory costs and supply constraints. I downgrade AAPL to Hold as recent price appreciation and margin risks limit the annualized upside below my 10% threshold.

Apple CEO Tim Cook and OpenAI CEO Sam Altman. Getty Images OpenAI says Apple got some of its facts wrong — and says it has the receipts to back it up.

In a Tuesday blog post, OpenAI called Apple's July complaint accusing the ChatGPT maker of stealing trade secrets a "careless, aggressive and oddly personal lawsuit."

OpenAI said Apple had made mistakes when it earlier contacted the AI lab about its concerns, including "emailing the wrong person after confusing two Asian last names."

Last month, Apple filed a suit against OpenAI, accusing it of stealing trade secrets using a "coordinated pattern of misconduct at an institutional level." Apple said that a former employee who joined OpenAI exploited an authentication bug, that OpenAI asked Apple engineers to bring in proprietary hardware during job interviews, and that OpenAI leadership "normalized" such conduct.

OpenAI denied wrongdoing at the time and said that it was not interested in Apple's trade secrets. Neither company immediately responded to a Business Insider request for comment.

In Tuesday's post, OpenAI shared what it said were copies of email correspondence showing that Apple's outside counsel mistakenly sent OpenAI's general counsel a follow-up that had been intended for a former Apple employee.

"Apple had claimed that they contacted OpenAI in February and that we didn't respond," OpenAI wrote in its blog post. "They now admit that their outside lawyers emailed the wrong person after confusing two Asian last names—only after we brought this to their attention."

OpenAI added that "Apple also claimed they had a discussion with our General Counsel, which they now concede never happened."

In its lawsuit, Apple alleged that OpenAI benefited from confidential information taken by former Apple engineer Chang Liu and former design executive Tang Tan.

OpenAI said in its blog post that Apple now concedes that Apple employees reached out to Liu, not the other way around.

OpenAI published what it said were messages between Liu, who now works for OpenAI, and former Apple colleagues. They show Apple employees asking him to help locate files and answer technical questions after his departure on January 22.

"This is a common issue with Apple which is caused by them failing to properly manage system access when people leave," OpenAI wrote in its blog post. "Former employees who are trying to do the right thing when they leave still have access to Apple files—despite not wanting them or even being aware of them."

The messages also show Liu helping with file transfers around his departure and subsequently answering questions about Apple projects.

OpenAI's response is the latest escalation in what was one of Silicon Valley's most high-profile AI partnerships. The relationship frayed after OpenAI accelerated its consumer hardware efforts by hiring former Apple talent, including Jony Ive, the iPhone maker's ex-chief design officer.

Read next

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Apple OpenAI

Apple has launched a fresh legal challenge against a U.K. government attempt to access encrypted data held by British customers.

The move comes a year on from the previous dispute between the two over a request from the U.K.'s Home Office for both British and American customer data. That order was dropped by the U.K. after interventions from U.S. President Donald Trump and Vice President JD Vance.

Apple confirmed the filing of the legal challenge to CNBC, but declined to comment further. The Home Office said it does not comment on legal proceedings or operational matters, including confirming or denying the existence of individual notices.

"The UK supports strong encryption and robust privacy protections, but it is also vital that law enforcement can access communications when necessary and proportionate to protect the public from terrorism, serious crime, and child sexual abuse," a Home Office spokesperson told CNBC.

"The Investigatory Powers Act is world-leading legislation that helps keep people safe while protecting privacy through strong safeguards and independent judicial oversight."

'Transatlantic row'Britain's Home Office, which handles immigration and security, in early 2025 issued an order to Apple requiring a technical "backdoor" that would allow officials to view fully encrypted material uploaded to the cloud software.

Former U.S. Director of National Intelligence Tulsi Gabbard said in August last year that the U.K. had dropped the request after interventions from Trump and Vance.

But the Home Office demanded in September that Apple provide access to British citizens' encrypted data, the Financial Times reported.

Read more

After the initial request from the U.K. government, Apple disabled its Advanced Data Protection (ADP) in the U.K. to new users. Current U.K. users will eventually need to disable this security feature, the company said in a statement in September.

"We are gravely disappointed that the protections provided by ADP are not available to our customers in the UK given the continuing rise of data breaches and other threats to customer privacy," Apple said at the time. "As we have said many times before, we have never built a backdoor or master key to any of our products or services and we never will."

"The original demand caused a transatlantic row because it extended to American users," Andrew Fremlin-Key, partner at law firm Withers, specialising in media, reputation and information disputes, told CNBC.

"Restricting the new notice to British users may reduce that conflict, but it is unlikely to eliminate US concerns about a foreign government requiring an American company to weaken the security of its technology."

When iconic Apple (AAPL -1.78%) founder Steve Jobs handed over the reins of the company to Tim Cook in 2011, the market was worried about whether a new leader could keep steering the company forward. Cook has done an outstanding job of growing the business and creating shareholder value, and Apple stock has returned more than 2,600% to investors over his tenure. He recently gave his last earnings call as CEO, and with John Ternus set to take over as CEO, can Apple continue its stellar run? Let's dig in and see.

Cook is leaving on a high note Apple has been reporting phenomenal performance, and as if as an ode to Cook's departure, Apple stock reached a $5 trillion market cap for the first time as he gave his last earnings call as CEO.

Apple CEO Tim Cook. Image soure: Apple.

Here are some of the highlights of the 2026 fiscal third quarter (ended June 27):

Revenue increased 16% year over year to $109.4 billion. iPhone sales were up 22% to $54 billion. Gross margin expanded from 46.5% to 50.1%, inclusive of a tariff benefit. Earnings per share were up 29% to $2.02. Cook played up the new Siri voice assistant that was unveiled at the Apple Worldwide Developers Conference in June. It's still in testing, scheduled for release within the next few months. He spoke about new investments in Apple Intelligence and how the company is considering options for running micro-large language models on personal iPhones.

He also noted that there is continued relentless demand for iPhones and Macs. Mac sales increased 29% year over year in the quarter.

Ternus is coming in at a challenging time Apple stock soared leading up to the earnings report on enthusiasm about iPhone sales and Apple Intelligence. Alphabet had just announced a significant increase in capital expenditure, and the market is praising Apple's decision to contract with Alphabet instead of similarly spending on its own platform; Alphabet's planning to spend up to $205 billion this year alone, while Apple is paying it $1 billion annually.

Today's Change

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-5.49

Current Price

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303.42

However, Apple stock dropped after the earnings report on disappointing guidance. Apple is guiding for fourth-quarter revenue to increase 9% to 11%, while analysts were looking for 12%. Management attributes the pressure to currency headwinds and supply constraints, and it noted that demand remains very high.

The market also picked up on weakness in services revenue, which increased 12% over last year, down from a 16% increase in the previous quarter. Management said it was due to the same foreign-exchange headwinds and some softness in app sales. It remains to be seen how this will affect iPhone and other product sales in the coming quarters. Finally, Apple recently said it would raise prices on some products because of skyrocketing memory costs.

The long-term outlook is stable Just before the report, investors were streaming into Apple stock, which they see as a safe alternative to many of today's tech and artificial intellgence (AI) upstarts. While the earnings update provides new and important information, it doesn't change the essential thesis for why Apple is a solid and reliable tech powerhouse -- an economic moat in its device and services ecosystem, which it continues to demonstrate quarter after quarter with robust iPhone sales and relentless demand.

Apple stock slid 9% after the report, taking its premium valuation down a notch; it trades at a price-to-earnings (P/E) ratio of 35, which is still rich, implying how confident the market is in Apple's future.

I think Apple is well positioned to keep growing and rewarding shareholders in the Ternus era, but don't expect wild, short-term growth; Apple is a long-term play.

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Apple is making a big bet that customers would rather pay by the month than all at once, with its new Apple Upgrade program designed to make upgrading your devices feel more like a subscription. Bloomberg's Mark Gurman joins Ed Ludlow on "Bloomberg Tech.

Apple (AAPL) stock slipped about 1% after the European Commission disclosed that the company acquired materials science firm PlasmaSolve in April.PlasmaSolve de

Posted by Defense World Staff on Aug 3rd, 2026

Ceera Investments LLC decreased its position in Apple Inc. (NASDAQ:AAPL – Free Report) by 9.7% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 25,616 shares of the iPhone maker’s stock after selling 2,737 shares during the quarter. Apple accounts for approximately 2.9% of Ceera Investments LLC’s portfolio, making the stock its 5th largest position. Ceera Investments LLC’s holdings in Apple were worth $6,501,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in the company. First National Bank of Hutchinson lifted its stake in Apple by 24.6% during the 4th quarter. First National Bank of Hutchinson now owns 35,319 shares of the iPhone maker’s stock worth $8,845,000 after acquiring an additional 6,982 shares in the last quarter. Eagle Capital Management LLC grew its position in Apple by 0.5% in the 4th quarter. Eagle Capital Management LLC now owns 54,085 shares of the iPhone maker’s stock valued at $13,544,000 after acquiring an additional 272 shares in the last quarter. Brighton Jones LLC grew its position in Apple by 14.8% in the 4th quarter. Brighton Jones LLC now owns 537,314 shares of the iPhone maker’s stock valued at $134,554,000 after acquiring an additional 69,207 shares in the last quarter. Revolve Wealth Partners LLC increased its stake in Apple by 4.2% during the fourth quarter. Revolve Wealth Partners LLC now owns 66,857 shares of the iPhone maker’s stock worth $16,742,000 after purchasing an additional 2,695 shares during the period. Finally, Highview Capital Management LLC DE increased its stake in Apple by 2.4% during the fourth quarter. Highview Capital Management LLC DE now owns 50,264 shares of the iPhone maker’s stock worth $12,587,000 after purchasing an additional 1,155 shares during the period. 67.73% of the stock is currently owned by institutional investors and hedge funds.

More Apple News Here are the key news stories impacting Apple this week:

Positive Sentiment: Apple reported record June-quarter revenue of $109.4 billion, up 16.4% year over year, and diluted EPS of $2.02, exceeding Wall Street expectations. iPhone revenue rose 22% to $54.3 billion, while Mac revenue increased 29% to $10.4 billion. Apple reports third quarter results Positive Sentiment: Apple’s large installed base, strong hardware demand and potential consumer-AI opportunities remain long-term supports. Some analysts remain bullish: TD Cowen raised its price target to $400, while other firms maintained Buy or Overweight ratings despite trimming estimates. Analyst raises Apple price target Positive Sentiment: The company declared a quarterly dividend of $0.27 per share, payable August 13 to shareholders of record August 10. Apple also continues to emphasize an AI strategy that requires less capital spending than the infrastructure-heavy approach used by some peers. Apple Q3 financial results Wall Street Analyst Weigh In Several research analysts have recently commented on AAPL shares. TD Cowen raised their price objective on shares of Apple from $350.00 to $400.00 and gave the company a “buy” rating in a research note on Friday. Evercore restated an “outperform” rating on shares of Apple in a report on Wednesday, July 8th. Raymond James Financial reaffirmed a “market perform” rating on shares of Apple in a research note on Friday. Needham & Company LLC reissued a “hold” rating on shares of Apple in a research report on Friday. Finally, Rosenblatt Securities boosted their price target on shares of Apple from $276.00 to $300.00 and gave the stock a “neutral” rating in a research note on Friday. One analyst has rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, ten have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $331.60.

Check Out Our Latest Report on AAPL

Insider Activity at Apple In related news, insider Ben Borders sold 1,274 shares of the stock in a transaction on Friday, May 8th. The stock was sold at an average price of $290.00, for a total value of $369,460.00. Following the transaction, the insider owned 38,713 shares of the company’s stock, valued at $11,226,770. This represents a 3.19% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders own 0.06% of the company’s stock.

Apple Stock Performance Shares of Apple stock opened at $308.91 on Monday. Apple Inc. has a one year low of $201.50 and a one year high of $344.57. The company has a market cap of $4.54 trillion, a PE ratio of 35.43, a P/E/G ratio of 2.65 and a beta of 1.09. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.93 and a current ratio of 1.00. The business has a 50-day simple moving average of $309.51 and a 200-day simple moving average of $281.60.

Apple (NASDAQ:AAPL – Get Free Report) last issued its earnings results on Thursday, July 30th. The iPhone maker reported $2.02 earnings per share for the quarter, beating the consensus estimate of $1.89 by $0.13. Apple had a net margin of 27.62% and a return on equity of 135.46%. The firm had revenue of $109.42 billion for the quarter, compared to analysts’ expectations of $109.04 billion. During the same quarter last year, the company earned $1.57 earnings per share. The firm’s revenue was up 16.4% compared to the same quarter last year. On average, equities research analysts forecast that Apple Inc. will post 8.8 EPS for the current fiscal year.

Apple Dividend Announcement The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 13th. Stockholders of record on Monday, August 10th will be given a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 0.3%. The ex-dividend date of this dividend is Monday, August 10th. Apple’s payout ratio is 12.39%.

Apple Profile (Free Report)

Apple Inc (NASDAQ: AAPL) is a multinational technology company headquartered in Cupertino, California, founded in 1976 by Steve Jobs, Steve Wozniak and Ronald Wayne. The company designs, develops and sells consumer electronics, software and services. Over its history Apple has evolved from personal computers to a broad portfolio that spans mobile devices, wearables, home entertainment and digital services.

Apple’s principal hardware products include the iPhone smartphone, iPad tablet, Mac personal computers, Apple Watch wearable devices and a range of accessories such as AirPods and HomePod.

Featured Articles Five stocks we like better than Apple 3 Fixed-Income ETFs Show Why Yield Is Only Part of the Income Story AbbVie Quietly Solved Its Biggest Problem—Now What? Rio Tinto’s Results Make the Case for Looking Beyond Tech in the AI Trade Strategy’s Structural Strength: Hidden in a $8 Billion Illusion

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Posted by Defense World Staff on Aug 3rd, 2026

Clifford Swan Investment Counsel LLC lowered its holdings in shares of Apple Inc. (NASDAQ:AAPL – Free Report) by 3.0% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 657,717 shares of the iPhone maker’s stock after selling 20,034 shares during the quarter. Apple makes up approximately 5.7% of Clifford Swan Investment Counsel LLC’s holdings, making the stock its biggest position. Clifford Swan Investment Counsel LLC’s holdings in Apple were worth $166,922,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in AAPL. MTM Investment Management LLC boosted its holdings in shares of Apple by 2.1% in the first quarter. MTM Investment Management LLC now owns 46,026 shares of the iPhone maker’s stock worth $11,681,000 after buying an additional 950 shares during the last quarter. Heartland Bank & Trust Co grew its position in Apple by 18.9% during the first quarter. Heartland Bank & Trust Co now owns 79,289 shares of the iPhone maker’s stock valued at $20,123,000 after buying an additional 12,583 shares during the period. Zhang Financial LLC increased its holdings in Apple by 4.3% during the first quarter. Zhang Financial LLC now owns 226,060 shares of the iPhone maker’s stock valued at $57,372,000 after buying an additional 9,352 shares during the last quarter. Frontier Asset Management LLC increased its holdings in Apple by 10.7% during the first quarter. Frontier Asset Management LLC now owns 1,533 shares of the iPhone maker’s stock valued at $389,000 after buying an additional 148 shares during the last quarter. Finally, FSA Advisors Inc. raised its position in Apple by 550.0% in the first quarter. FSA Advisors Inc. now owns 11,109 shares of the iPhone maker’s stock worth $2,819,000 after acquiring an additional 9,400 shares during the period. Institutional investors own 67.73% of the company’s stock.

Apple News Summary Here are the key news stories impacting Apple this week:

Positive Sentiment: Apple reported record June-quarter revenue of $109.4 billion, up 16.4% year over year, and diluted EPS of $2.02, exceeding Wall Street expectations. iPhone revenue rose 22% to $54.3 billion, while Mac revenue increased 29% to $10.4 billion. Apple reports third quarter results Positive Sentiment: Apple’s large installed base, strong hardware demand and potential consumer-AI opportunities remain long-term supports. Some analysts remain bullish: TD Cowen raised its price target to $400, while other firms maintained Buy or Overweight ratings despite trimming estimates. Analyst raises Apple price target Positive Sentiment: The company declared a quarterly dividend of $0.27 per share, payable August 13 to shareholders of record August 10. Apple also continues to emphasize an AI strategy that requires less capital spending than the infrastructure-heavy approach used by some peers. Apple Q3 financial results Analyst Ratings Changes AAPL has been the topic of several analyst reports. Barclays reiterated an “underweight” rating and set a $245.00 price target (down from $253.00) on shares of Apple in a research note on Friday. Robert W. Baird raised their target price on Apple from $310.00 to $330.00 and gave the stock an “outperform” rating in a report on Friday, July 24th. Wells Fargo & Company reiterated an “overweight” rating and set a $350.00 target price (up from $310.00) on shares of Apple in a research report on Friday. Tigress Financial reissued a “strong-buy” rating and set a $375.00 price target (up from $305.00) on shares of Apple in a report on Thursday, May 14th. Finally, The Goldman Sachs Group restated a “buy” rating and issued a $360.00 price target (down from $370.00) on shares of Apple in a research report on Friday. One research analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, ten have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $331.60.

Read Our Latest Research Report on AAPL

Insider Buying and Selling In other news, insider Ben Borders sold 116 shares of the business’s stock in a transaction dated Tuesday, June 16th. The stock was sold at an average price of $295.14, for a total value of $34,236.24. Following the transaction, the insider directly owned 38,713 shares in the company, valued at $11,425,754.82. The trade was a 0.30% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 0.06% of the stock is currently owned by corporate insiders.

Apple Stock Performance Shares of NASDAQ AAPL opened at $308.91 on Monday. The firm has a fifty day moving average price of $309.51 and a 200-day moving average price of $281.60. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.00 and a quick ratio of 0.93. The stock has a market cap of $4.54 trillion, a PE ratio of 35.43, a price-to-earnings-growth ratio of 2.65 and a beta of 1.09. Apple Inc. has a 1 year low of $201.50 and a 1 year high of $344.57.

Apple (NASDAQ:AAPL – Get Free Report) last announced its quarterly earnings data on Thursday, July 30th. The iPhone maker reported $2.02 EPS for the quarter, beating the consensus estimate of $1.89 by $0.13. Apple had a net margin of 27.62% and a return on equity of 135.46%. The firm had revenue of $109.42 billion for the quarter, compared to the consensus estimate of $109.04 billion. During the same period last year, the firm earned $1.57 EPS. The company’s revenue was up 16.4% on a year-over-year basis. Equities analysts anticipate that Apple Inc. will post 8.8 earnings per share for the current fiscal year.

Apple Announces Dividend The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 13th. Shareholders of record on Monday, August 10th will be issued a dividend of $0.27 per share. The ex-dividend date of this dividend is Monday, August 10th. This represents a $1.08 dividend on an annualized basis and a yield of 0.3%. Apple’s dividend payout ratio (DPR) is currently 12.39%.

Apple Company Profile (Free Report)

Apple Inc (NASDAQ: AAPL) is a multinational technology company headquartered in Cupertino, California, founded in 1976 by Steve Jobs, Steve Wozniak and Ronald Wayne. The company designs, develops and sells consumer electronics, software and services. Over its history Apple has evolved from personal computers to a broad portfolio that spans mobile devices, wearables, home entertainment and digital services.

Apple’s principal hardware products include the iPhone smartphone, iPad tablet, Mac personal computers, Apple Watch wearable devices and a range of accessories such as AirPods and HomePod.

Featured Articles Five stocks we like better than Apple 3 Fixed-Income ETFs Show Why Yield Is Only Part of the Income Story AbbVie Quietly Solved Its Biggest Problem—Now What? Rio Tinto’s Results Make the Case for Looking Beyond Tech in the AI Trade Strategy’s Structural Strength: Hidden in a $8 Billion Illusion

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Posted by Defense World Staff on Aug 3rd, 2026

California Public Employees Retirement System grew its stake in Apple Inc. (NASDAQ:AAPL – Free Report) by 3.7% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 37,713,677 shares of the iPhone maker’s stock after buying an additional 1,338,411 shares during the quarter. Apple accounts for about 5.9% of California Public Employees Retirement System’s investment portfolio, making the stock its 3rd biggest holding. California Public Employees Retirement System owned about 0.26% of Apple worth $9,571,354,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently made changes to their positions in the stock. MTM Investment Management LLC raised its stake in shares of Apple by 2.1% in the 1st quarter. MTM Investment Management LLC now owns 46,026 shares of the iPhone maker’s stock valued at $11,681,000 after purchasing an additional 950 shares during the period. Heartland Bank & Trust Co lifted its holdings in shares of Apple by 18.9% in the first quarter. Heartland Bank & Trust Co now owns 79,289 shares of the iPhone maker’s stock valued at $20,123,000 after purchasing an additional 12,583 shares in the last quarter. Zhang Financial LLC boosted its position in shares of Apple by 4.3% during the first quarter. Zhang Financial LLC now owns 226,060 shares of the iPhone maker’s stock worth $57,372,000 after buying an additional 9,352 shares during the period. Frontier Asset Management LLC boosted its position in shares of Apple by 10.7% during the first quarter. Frontier Asset Management LLC now owns 1,533 shares of the iPhone maker’s stock worth $389,000 after buying an additional 148 shares during the period. Finally, FSA Advisors Inc. grew its holdings in shares of Apple by 550.0% during the first quarter. FSA Advisors Inc. now owns 11,109 shares of the iPhone maker’s stock worth $2,819,000 after buying an additional 9,400 shares in the last quarter. Institutional investors own 67.73% of the company’s stock.

Insider Activity at Apple In other news, insider Ben Borders sold 1,274 shares of the stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $290.00, for a total value of $369,460.00. Following the transaction, the insider directly owned 38,713 shares of the company’s stock, valued at $11,226,770. This represents a 3.19% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.06% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In A number of analysts have recently issued reports on the stock. UBS Group reiterated a “neutral” rating on shares of Apple in a report on Friday. The Goldman Sachs Group restated a “buy” rating and set a $360.00 target price (down from $370.00) on shares of Apple in a report on Friday. JPMorgan Chase & Co. decreased their target price on shares of Apple from $345.00 to $340.00 and set an “overweight” rating for the company in a research report on Friday. Robert W. Baird lifted their price target on shares of Apple from $310.00 to $330.00 and gave the company an “outperform” rating in a research note on Friday, July 24th. Finally, Tigress Financial reissued a “strong-buy” rating and set a $375.00 price target (up from $305.00) on shares of Apple in a research report on Thursday, May 14th. One investment analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, ten have given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, Apple presently has an average rating of “Moderate Buy” and an average price target of $331.60.

Read Our Latest Stock Analysis on AAPL

Apple News Summary Here are the key news stories impacting Apple this week:

Positive Sentiment: Apple reported record June-quarter revenue of $109.4 billion, up 16.4% year over year, and diluted EPS of $2.02, exceeding Wall Street expectations. iPhone revenue rose 22% to $54.3 billion, while Mac revenue increased 29% to $10.4 billion. Apple reports third quarter results Positive Sentiment: Apple’s large installed base, strong hardware demand and potential consumer-AI opportunities remain long-term supports. Some analysts remain bullish: TD Cowen raised its price target to $400, while other firms maintained Buy or Overweight ratings despite trimming estimates. Analyst raises Apple price target Positive Sentiment: The company declared a quarterly dividend of $0.27 per share, payable August 13 to shareholders of record August 10. Apple also continues to emphasize an AI strategy that requires less capital spending than the infrastructure-heavy approach used by some peers. Apple Q3 financial results Apple Stock Performance AAPL opened at $308.91 on Monday. The company has a quick ratio of 0.93, a current ratio of 1.00 and a debt-to-equity ratio of 0.66. Apple Inc. has a 12-month low of $201.50 and a 12-month high of $344.57. The business has a 50 day moving average of $309.51 and a 200-day moving average of $281.60. The stock has a market cap of $4.54 trillion, a price-to-earnings ratio of 35.43, a PEG ratio of 2.65 and a beta of 1.09.

Apple (NASDAQ:AAPL – Get Free Report) last posted its earnings results on Thursday, July 30th. The iPhone maker reported $2.02 earnings per share for the quarter, topping analysts’ consensus estimates of $1.89 by $0.13. Apple had a return on equity of 135.46% and a net margin of 27.62%.The business had revenue of $109.42 billion for the quarter, compared to analyst estimates of $109.04 billion. During the same period in the previous year, the firm earned $1.57 EPS. The firm’s revenue was up 16.4% compared to the same quarter last year. On average, equities research analysts expect that Apple Inc. will post 8.8 earnings per share for the current year.

Apple Announces Dividend The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 13th. Shareholders of record on Monday, August 10th will be issued a $0.27 dividend. This represents a $1.08 annualized dividend and a dividend yield of 0.3%. The ex-dividend date is Monday, August 10th. Apple’s payout ratio is currently 12.39%.

Apple Company Profile (Free Report)

Apple Inc (NASDAQ: AAPL) is a multinational technology company headquartered in Cupertino, California, founded in 1976 by Steve Jobs, Steve Wozniak and Ronald Wayne. The company designs, develops and sells consumer electronics, software and services. Over its history Apple has evolved from personal computers to a broad portfolio that spans mobile devices, wearables, home entertainment and digital services.

Apple’s principal hardware products include the iPhone smartphone, iPad tablet, Mac personal computers, Apple Watch wearable devices and a range of accessories such as AirPods and HomePod.

Recommended Stories Five stocks we like better than Apple 3 Fixed-Income ETFs Show Why Yield Is Only Part of the Income Story AbbVie Quietly Solved Its Biggest Problem—Now What? Rio Tinto’s Results Make the Case for Looking Beyond Tech in the AI Trade Strategy’s Structural Strength: Hidden in a $8 Billion Illusion Want to see what other hedge funds are holding AAPL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Apple Inc. (NASDAQ:AAPL – Free Report).

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Apple (AAPL -7.35%) might as well be taken out of the Magnificent Seven group of businesses. The company doesn't seem to be going all in on artificial intelligence (AI) as its peers are.

Of these seven companies, Nvidia sells the chips at the center of the boom. Tesla is now generating negative free cash flow (FCF) as it invests in ambitious real-world AI projects. The remaining four are the so-called hyperscalers, which are estimated to spend a combined $1 trillion in capital expenditures in 2027 to fund AI infrastructure.

Apple's AI strategy looks different. Here's why that might be a good thing.

Image source: The Motley Fool.

Apple's intelligent approach For its fiscal 2026's third quarter (ended June 27), Apple's iPhone revenue totaled $54.3 billion, up 21.7% year over year. This was the third straight quarter of more than 20% sales growth for this single product line. Additionally, Apple's services division saw its top line increase by 12%. "We set records in every category," Chief Financial Officer Kevan Parekh said on the Q3 2026 earnings call.

The company's ongoing success, highlighted by the iPhone and services, is a clear indicator of its AI playbook. Apple's powerful walled garden, or its ecosystem of hardware and software, is what drives customer stickiness. The overarching objective, therefore, should be to bolster this important characteristic.

What matters is whether Apple can continue to be the primary gateway for how people access the digital world. The financial performance reveals that this is still the case. It's about integrating AI capabilities, known as Apple Intelligence, into the existing suite of products and services, not creating a new chatbot or cloud division. In that vein, Apple has decided to work with Alphabet's Gemini models to power its Siri refresh, set to launch later this year.

Apple's capital expenditures totaled just $6.8 billion in the last nine months, a drop in the bucket compared to its Magnificent Seven peers. However, the company's research and development expenses jumped 32.3% year over year in Q3, so it's not sitting idle. FCF is still robust, as analysts expect $140.9 billion for the entirety of fiscal 2026. The business continues to return significant capital to investors in the form of share repurchases.

Today's Change

(

-7.35

%) $

-24.52

Current Price

$

308.91

Investors couldn't be happier Revenue guidance was weaker than anticipated due to persistent supply issues. This pressured shares following the market close on July 30.

But it wasn't long ago that Apple overtook Nvidia to reclaim its position as the world's most valuable company. Shares have soared 23% in 2026, outpacing every other Magnificent Seven stock by a long shot. The market is saying that it still values financial strength, an area Apple excels in, even though others are directing extraordinary amounts of money to AI.

Neil Patel has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Alphabet, Apple, Nvidia, and Tesla. The Motley Fool has a disclosure policy.

Posted by Defense World Staff on Aug 3rd, 2026

Bartlett & CO. Wealth Management LLC cut its holdings in shares of Apple Inc. (NASDAQ:AAPL – Free Report) by 2.1% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,648,996 shares of the iPhone maker’s stock after selling 34,583 shares during the period. Apple comprises approximately 6.0% of Bartlett & CO. Wealth Management LLC’s holdings, making the stock its largest holding. Bartlett & CO. Wealth Management LLC’s holdings in Apple were worth $456,492,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Norges Bank bought a new stake in Apple during the 4th quarter worth about $52,266,468,000. Nuveen LLC bought a new position in shares of Apple in the first quarter worth about $17,472,482,000. Cardano Risk Management B.V. lifted its position in shares of Apple by 890.7% during the fourth quarter. Cardano Risk Management B.V. now owns 41,984,810 shares of the iPhone maker’s stock worth $11,413,990,000 after purchasing an additional 37,746,784 shares in the last quarter. Laurel Wealth Advisors LLC lifted its position in shares of Apple by 20,464.8% during the second quarter. Laurel Wealth Advisors LLC now owns 27,069,029 shares of the iPhone maker’s stock worth $5,553,753,000 after purchasing an additional 26,937,401 shares in the last quarter. Finally, Vanguard Group Inc. grew its stake in shares of Apple by 1.9% during the fourth quarter. Vanguard Group Inc. now owns 1,426,283,914 shares of the iPhone maker’s stock valued at $387,749,545,000 after purchasing an additional 26,856,752 shares during the last quarter. 67.73% of the stock is owned by institutional investors and hedge funds.

Key Headlines Impacting Apple Here are the key news stories impacting Apple this week:

Positive Sentiment: Apple reported record June-quarter revenue of $109.4 billion, up 16.4% year over year, and diluted EPS of $2.02, exceeding Wall Street expectations. iPhone revenue rose 22% to $54.3 billion, while Mac revenue increased 29% to $10.4 billion. Apple reports third quarter results Positive Sentiment: Apple’s large installed base, strong hardware demand and potential consumer-AI opportunities remain long-term supports. Some analysts remain bullish: TD Cowen raised its price target to $400, while other firms maintained Buy or Overweight ratings despite trimming estimates. Analyst raises Apple price target Positive Sentiment: The company declared a quarterly dividend of $0.27 per share, payable August 13 to shareholders of record August 10. Apple also continues to emphasize an AI strategy that requires less capital spending than the infrastructure-heavy approach used by some peers. Apple Q3 financial results Wall Street Analyst Weigh In AAPL has been the subject of a number of research reports. Wedbush reissued an “outperform” rating and issued a $400.00 price target on shares of Apple in a report on Friday, June 5th. Evercore reiterated an “outperform” rating on shares of Apple in a research report on Wednesday, July 8th. Needham & Company LLC reissued a “hold” rating on shares of Apple in a research note on Friday. Royal Bank Of Canada set a $365.00 target price on Apple in a research report on Wednesday, July 15th. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Apple in a research note on Wednesday, July 15th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, ten have assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $331.60.

Get Our Latest Research Report on AAPL

Insider Buying and Selling at Apple In related news, insider Ben Borders sold 116 shares of Apple stock in a transaction that occurred on Tuesday, June 16th. The shares were sold at an average price of $295.14, for a total transaction of $34,236.24. Following the transaction, the insider owned 38,713 shares of the company’s stock, valued at $11,425,754.82. This trade represents a 0.30% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 0.06% of the stock is owned by corporate insiders.

Apple Price Performance NASDAQ:AAPL opened at $308.91 on Monday. Apple Inc. has a 12-month low of $201.50 and a 12-month high of $344.57. The company has a quick ratio of 0.93, a current ratio of 1.00 and a debt-to-equity ratio of 0.66. The firm has a market capitalization of $4.54 trillion, a P/E ratio of 35.43, a P/E/G ratio of 2.65 and a beta of 1.09. The stock’s fifty day simple moving average is $309.51 and its 200-day simple moving average is $281.60.

Apple (NASDAQ:AAPL – Get Free Report) last released its quarterly earnings data on Thursday, July 30th. The iPhone maker reported $2.02 EPS for the quarter, beating analysts’ consensus estimates of $1.89 by $0.13. Apple had a return on equity of 135.46% and a net margin of 27.62%.The business had revenue of $109.42 billion during the quarter, compared to the consensus estimate of $109.04 billion. During the same quarter in the prior year, the company posted $1.57 earnings per share. The firm’s revenue was up 16.4% on a year-over-year basis. Equities research analysts expect that Apple Inc. will post 8.8 earnings per share for the current year.

Apple Announces Dividend The company also recently declared a quarterly dividend, which will be paid on Thursday, August 13th. Investors of record on Monday, August 10th will be given a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date is Monday, August 10th. Apple’s dividend payout ratio (DPR) is currently 12.39%.

About Apple (Free Report)

Apple Inc (NASDAQ: AAPL) is a multinational technology company headquartered in Cupertino, California, founded in 1976 by Steve Jobs, Steve Wozniak and Ronald Wayne. The company designs, develops and sells consumer electronics, software and services. Over its history Apple has evolved from personal computers to a broad portfolio that spans mobile devices, wearables, home entertainment and digital services.

Apple’s principal hardware products include the iPhone smartphone, iPad tablet, Mac personal computers, Apple Watch wearable devices and a range of accessories such as AirPods and HomePod.

Featured Articles Five stocks we like better than Apple 3 Fixed-Income ETFs Show Why Yield Is Only Part of the Income Story AbbVie Quietly Solved Its Biggest Problem—Now What? Rio Tinto’s Results Make the Case for Looking Beyond Tech in the AI Trade Strategy’s Structural Strength: Hidden in a $8 Billion Illusion

Receive News & Ratings for Apple Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Apple and related companies with MarketBeat.com's FREE daily email newsletter.

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Drilling operations at NGT245 D.

D3 Energy Ltd (ASX:D3E, OTCQX:DNRGF) has spudded the second well in its two-hole drilling program at the Nooitgedacht area in South Africa, building on an encouraging result from the first well, which intersected the targeted gas zone and flowed gas to surface.

NGT245 D, which is situated in D3E’s 100%-owned ER315 permit in the Free State Province, was spudded on 30 July, approximately 1 week from commencement of drilling at the initial well NGT245 E, demonstrating the efficient and cost-effective nature of drilling operations. The well had reached a depth of 80 metres, with surface casing installed, and drilling toward the target formations was expected to continue this week.

Nooitgedacht location within ER315.

NGT245 D is budgeted to cost about A$200,000 to drill and complete. Successful gas intersection would be followed by production testing to assess deliverability and support decisions on well spacing, interference and future Production Right applications. 

First well intersects target gas zone The first well in the program, NGT245 E, was completed to a total depth of 363 metres on time and within budget, with no safety incidents reported.

The well intersected the targeted gas-bearing fracture zone and flowed gas to surface before the rig moved to the NGT245 D location.

Logging has begun, while further evaluation and testing will take place after intermediate casing is installed following completion of the second well.

D3 Energy managing director and CEO David Casey said the rapid start of the second well highlighted the low-cost and efficient nature of the company’s drilling operations.

“It is also incredibly pleasing to have successfully intersected the targeted gas-bearing fracture zones as planned and is a very good first step as we look to build upon and extend the company’s ER315 reserve base 40 kilometres to the north of our existing Production Right application area,” he said.

Program targets helium and methane potential The Nooitgedacht wells are targeting faults and associated fractures within the Ventersdorp and Witwatersrand formations.

Testing is designed to provide additional information on reservoir deliverability and the concentration of helium and methane.

D3 Energy also plans to begin a 2D seismic program at Nooitgedacht in the coming weeks to improve its geological understanding of the area.

The prospect lies around 43 kilometres north of Bloemskraal, where the company has already booked reserves supporting a Production Right application, and sits along the Homestead Fault in the northern part of ER315.

Resolution Minerals Ltd (ASX:RML, OTCQB:RLMLF, FRA:NC3) advanced its ambition to become an integrated US critical minerals supplier during the June 2026 quarter, securing federal permitting support, launching a major drilling campaign and demonstrating strong metallurgical outcomes across its Horse Heaven Project in Idaho.

The quarter was marked by FAST-41 Transparency Coverage for the Antimony Ridge Project, progress toward a second FAST-41 designation for Golden Gate, the start of up to 13,700 metres of diamond drilling and the completion of a strongly supported A$20 million institutional placement.

Resolution also strengthened its engagement with the US critical minerals and defence sectors, with the company admitted to the US Defense Industrial Base Consortium after quarter-end.

The company held A$10.34 million in cash and cash equivalents at June 30, with the second tranche of its placement expected to further support drilling, metallurgy, permitting and potential downstream processing initiatives. 

Horse Heaven positioned as integrated US critical minerals platform Resolution’s primary focus was its 100%-owned Horse Heaven Project, which includes the Antimony Ridge antimony-silver system, the Golden Gate gold-tungsten targets and the Johnson Creek processing site and historical tungsten stockpiles.

The project is immediately adjacent to Perpetua Resources’ permitted Stibnite Gold Project and is being advanced as a potential domestic source of antimony, tungsten and gold.

Resolution said increasing geopolitical concern over the security of critical mineral supply chains, particularly following restrictions on Chinese antimony and tungsten exports, reinforced Horse Heaven’s strategic importance.

Antimony and tungsten are both recognised by the US Government as critical minerals due to their use in defence, energy and industrial applications.

FAST-41 status supports accelerated permitting Antimony Ridge was granted FAST-41 Transparency Coverage by the US Federal Permitting Council during the quarter, recognising its potential importance as a domestic antimony source.

The designation is expected to improve coordination between federal agencies and support permitting applications covering large-scale bulk sampling and drilling programs of up to 250 holes.

After the end of the quarter, Golden Gate also received FAST-41 Transparency Coverage, giving Resolution two projects operating under the federal framework.

The company said the designations should enhance permitting transparency, increase investor visibility and support engagement with strategic partners and potential funding sources aligned with US critical minerals policy.

Resolution’s subsequent admission to the Defense Industrial Base Consortium provides another avenue for collaboration with government agencies and access to defence-related supply chain and funding initiatives.

Large antimony-silver system emerges at Antimony Ridge Three-dimensional modelling at Antimony Ridge identified more than 100 antimony-bearing veins represented by about 30 mineralised vein swarms, fault breccias and stockwork zones.

The mineralised system extends across an area of around 1,000 metres by 700 metres and more than 250 metres vertically, remaining open in all directions.

Historical mining and recent fieldwork indicate that the high-grade veins may be surrounded by a broader halo of lower-grade antimony mineralisation, adding to the project’s scale potential.

Sampling has returned antimony values ranging from 31.7% to 48.7%, along with silver grades of up to 1,420 grams per tonne.

Resolution said the results supported its view that Antimony Ridge is among the highest-grade antimony systems being advanced by an ASX-listed company.

Metallurgy supports downstream processing potential Resolution achieved an important metallurgical milestone by producing an intermediate antimony trioxide product grading 99.38% Sb₂O₃ from historical stibnite material sourced from Antimony Ridge.

The product was generated using conventional pyrometallurgical processing methods, providing support for further studies into a potential domestic US processing pathway.

Additional flotation work returned sulphide recoveries of up to 99.5%, indicating near-complete recovery of stibnite from lower-grade material containing about 10% antimony.

Cleaner flotation work is continuing with the aim of increasing concentrate grades toward commercial specifications, while hydrometallurgical testing is underway at ANSTO.

Resolution believes the lack of modern antimony processing infrastructure in the US creates an opportunity for the company to participate further downstream in the supply chain.

Its ownership of the Johnson Creek site, including access to power, water, roads and private land, could provide infrastructure options for future processing.

Tungsten stockpiles deliver strong concentration results Preliminary gravity separation testwork on historical stockpiles at Johnson Creek produced tungsten concentrates grading up to 52.3% WO₃.

Recoveries reached 75.5%, representing a 19-fold upgrade from the original stockpile grade of 1.85% WO₃.

Historical tungsten-bearing material is stored at the Johnson Creek site and near the portal of the former Golden Gate Tungsten Mine.

Resolution is evaluating whether these stockpiles could support a potential near-term processing opportunity and contribute to its broader integrated critical minerals strategy.

Major Golden Gate drilling campaign advances Resolution commenced its Phase 2 diamond drilling program at Golden Gate during the quarter, with up to 45 holes and 13,700 metres planned.

Two drill rigs were mobilised, with about half of the planned program completed after quarter-end.

The campaign is designed to define the scale and extent of gold and tungsten mineralisation, test extensions to known mineralised zones and advance Golden Gate toward a maiden Mineral Resource Estimate.

Initial drilling encountered sulphide mineralisation, alteration, shearing, brecciation and veining in all holes completed at the time of reporting.

These features were considered comparable to geological characteristics associated with previously identified mineralisation at Golden Gate North and South.

Post-quarter reporting showed 16 diamond holes had been completed for about 4,470 metres of drilling, at an average depth of approximately 279 metres.

Gold recoveries strengthen development case Preliminary metallurgical testing on Golden Gate drill core returned strong recoveries from both oxide and sulphide material.

Conventional cyanide leaching of oxide samples achieved gold recoveries of 94.2% at a 150-micron grind and 95.5% at 75 microns.

Sulphide flotation testing returned gold recovery of 86.4% at 106 microns, producing a concentrate grading about 49 g/t gold, while recovery increased to 88.7% at a finer 75-micron grind.

Resolution said the results indicated that both mineralisation types could be amenable to conventional processing methods, reducing technical risk as the project progresses toward resource definition and future economic studies.

Institutional support funds accelerated work Resolution raised approximately A$20 million before costs through an institutional placement priced at A$0.07 per share.

The placement was cornerstoned by Tribeca Investment Partners and L1 Capital Global Opportunities Master Fund and was completed at a premium of about 6.3% to the company’s 20-day volume-weighted average price.

Funds are being directed toward Golden Gate drilling, antimony, tungsten and gold metallurgy, FAST-41 permitting activities and the assessment of downstream processing opportunities.

The board was also strengthened through the planned appointment of international mining executive Brett Lynch as a non-executive director ahead of Resolution’s proposed Nasdaq listing.

Next steps Resolution plans to continue the Golden Gate drill campaign during the September quarter and receive initial assay results from submitted core.

Work will also focus on testing gold and tungsten extensions, progressing FAST-41 permitting at Antimony Ridge and refining the geological model for the broader antimony-silver system.

Further antimony flotation and hydrometallurgical results are expected, alongside additional evaluation of tungsten stockpile processing and potential use of the Johnson Creek infrastructure.

The company will continue engaging with US Government agencies, strategic stakeholders and Defense Industrial Base Consortium programs as it advances Horse Heaven toward an integrated domestic critical minerals operation.

First Graphene Ltd (ASX:FGR, OTCQB:FGPHF) expanded its international commercial footprint during the June 2026 quarter, securing immediate revenue from newly acquired US assets and opening a potentially substantial route into China’s cement and concrete market.

The advanced materials company completed three strategic asset acquisitions during the period, received its first orders from customers previously supplied by MITO Materials Inc and signed an agreement targeting PureGRAPH® CEM sales of up to 500 tonnes in China.

First Graphene also reported combined quarterly income of about A$135,000, comprising around A$103,000 in graphene sales and A$32,000 from development and grant-funded programs.

For the full financial year, the company expects revenue to increase by 13%, while annual operating cash burn declined by 12% to approximately A$2.39 million.

US acquisition delivers immediate revenue A central feature of the quarter was First Graphene’s acquisition of assets from US-based MITO Materials, which provided access to established customers, manufacturing opportunities and four product lines serving the luxury sporting equipment market.

The company has already received its first purchase orders from Parlor Skis and Le Croix fishing rods, indicating that customers intend to continue commercial relationships previously established under the MITO brand.

Former MITO chief executive Haley Marie Keith has joined First Graphene as vice president of business development and will lead efforts to increase product awareness and pursue commercial opportunities across the United States.

The acquisition forms part of First Graphene’s broader strategy to target high-value markets where acquired technologies and customer relationships can accelerate the commercial adoption of graphene-enhanced materials.

It also strengthens the company’s position in the US defence and aerospace sectors, where lightweight, durable and high-performance composite materials represent a potential market for PureGRAPH® products.

First Graphene has submitted an application to the US Defense Advanced Research Projects Agency to supply graphene products for defence-related aerospace composite projects.

The company's new US presence, combined with Keith’s local industry experience, provided an improved platform from which to pursue opportunities in the country’s large defence market.

Following the opening of its own commercial channels in the US through the MITO acquisition, First Graphene has ceased its previous distribution arrangements with NeoGraf.

Geotextile assets open new industrial markets First Graphene also completed the acquisition of assets from Australian materials businesses Ionic Industries Inc and Imagine Intelligent Materials during the quarter.

The transaction provides a direct pathway into the geotextiles market, with potential applications across mining, agriculture, waste management and construction.

Geotextiles are used in applications including separation, filtration, reinforcement, protection and drainage, creating opportunities for graphene-enhanced coatings and materials designed to improve durability or performance.

During the first 90 days following completion, First Graphene intends to focus on relocating and establishing Ionic’s coating line and assessing associated manufacturing opportunities.

The acquired assets are aligned with the company’s existing coatings strategy and could support the development of new commercial products for infrastructure and industrial customers.

Together, the MITO, Ionic and Imagine Intelligent Materials transactions represent a deliberate expansion beyond First Graphene’s established graphene manufacturing operations into downstream products, customer relationships and application-specific technologies.

China agreement targets world’s largest cement market First Graphene reached what it described as a significant commercial milestone by signing a memorandum of understanding with Sixth Element Material Technology to distribute PureGRAPH® CEM in China.

The agreement gives the company a route into the world’s largest cement and concrete market, which produces more than 2.3 billion tonnes annually.

Under the proposed pathway, sales of PureGRAPH® CEM would be increased to 500 tonnes. Reaching that level could trigger the establishment of a local manufacturing plant through either a joint venture or licensing agreement.

First Graphene described the Sixth Element agreement as the largest commercial opportunity in the company’s history, providing potential access to a cement and concrete market valued at more than US$50 billion.

The company’s proposition is based on the ability of PureGRAPH® CEM to reduce the volume of cement required in concrete products while maintaining strength and performance.

This could be particularly relevant in China, where cement production accounts for a substantial share of national carbon emissions and the construction industry is under pressure to reduce its environmental impact.

The agreement follows commercial-scale work completed in the United Kingdom with FP McCann, the country’s largest precast concrete manufacturer and supplier.

More than 10,000 graphene-enhanced roof tiles were produced during a five-month project using 40 tonnes of PureGRAPH®-enhanced cement supplied by First Graphene partner Breedon Group.

The project achieved a cradle-to-gate carbon emissions reduction of up to 14%, while reducing the amount of cement needed by as much as 8% without compromising product strength or performance.

First Graphene believes these results demonstrate that graphene-enhanced cement can provide a commercially practical lower-emission option for the construction industry.

The successful UK program has also generated interest from other international markets examining the potential use of the company’s PureGRAPH® product range.

Distribution agreement expands regional reach First Graphene strengthened its Australian and New Zealand sales network during the quarter by updating its long-standing distribution agreement with Bisley.

The revised agreement gives Bisley broader exclusive access to PureGRAPH® products for the cement and concrete markets across both countries.

Bisley’s market development activities have already helped introduce First Graphene’s products into construction materials, coatings, lubricants, oil and gas drilling and cementing, composites, rubber and plastics.

The partnership is also examining emerging applications in paper manufacturing.

Bisley has worked with government research organisations and universities on graphene-enabled defence technologies and next-generation advanced materials, providing another potential channel into higher-value applications.

As part of the expanded agreement, the companies will collaborate on the technical development, market introduction and commercial rollout of a new range of graphene liquid additives.

These products are undergoing market evaluation and customer trials, with a commercial launch planned for the second half of calendar 2026.

Bisley will also distribute additional graphene and graphene oxide technologies acquired through the MITO and Ionic transactions.

Financial position supports commercial rollout First Graphene recorded customer receipts of A$109,000 during the June quarter and used A$734,000 in operating activities.

Investing cash outflow totalled A$363,000, primarily reflecting A$351,000 allocated to other non-current assets, while financing activities used A$46,000.

The company ended the period with A$2.87 million in cash and cash equivalents, compared with A$4.01 million at the beginning of the quarter.

Based on its June-quarter operating expenditure, First Graphene estimated it had funding available for 3.9 quarters of operations.

The company had no loan facilities, credit standby arrangements or other financing facilities drawn at the end of the period.

Next steps First Graphene’s immediate priorities include integrating its newly acquired US and Australian assets, relocating and commissioning Ionic’s coating line and converting inherited customer relationships into recurring revenue.

The company will also work with Sixth Element to build PureGRAPH® CEM sales in China toward the 500-tonne threshold that could support local manufacturing through a joint venture or licensing structure.

In Australia and New Zealand, First Graphene and Bisley are preparing for the planned second-half 2026 commercial release of the company’s new graphene liquid additive portfolio.

Further opportunities may emerge from the DARPA application and the company’s broader push into defence and aerospace composites, supported by its expanded US presence and acquired product capabilities.

About First Graphene First Graphene is an advanced materials company focused on the development and commercial supply of graphitic materials and product formulations.

Its principal target markets include cement and concrete, composites and plastics, coatings, adhesives, sealants and elastomers, and energy storage.

The company’s PureGRAPH® graphene products are designed to enhance material performance and potentially reduce emissions through lower material usage, reduced manufacturing energy requirements or longer product life.

First Graphene operates its primary manufacturing facility at Henderson, Western Australia, and maintains a UK presence through First Graphene UK Ltd in Manchester’s innovation district.

India has proposed extending tax exemptions until 2041 for foreign companies that provide machinery to contract ‌manufacturers, handing a major win to Apple which had lobbied for such changes, and is fast expanding in the market.

On July 14, a start-up with Caltech roots, PrismML, released Bonsai 27B, a free artificial intelligence (AI) model compressed enough to run locally on an Apple (AAPL -7.35%) iPhone 17 Pro. According to the company, it retains roughly 90% of the original model's performance.

A capable AI small enough to run on an iPhone is great news for consumers. PrismML's CEO recently told CNBC that Apple is in "very early" discussions about the technology. In time, free, local, open-weight AI could become an à la carte menu for consumers, and Apple's own silicon was designed to run them.

Image source: Getty Images.

A serious model that finally fits on a phone A traditional 27-billion-parameter model cannot fit in a phone's usable memory. At 3.9 gigabytes, Bonsai is built on Alibaba's open-weight Qwen3.6 and can run on an iPhone 17 Pro, as well as on iPad, Mac, and PCs.

Shrinking open models is not new, but compressing one of this class while retaining its performance is. For Apple, whose latest chips were designed to run AI on-device, this could raise the stakes for its internal development of foundation models.

The A19 and A19 Pro chips in the latest iPhones feature neural accelerators, which the company says provide a significant boost to AI performance. On the company's second-quarter earnings call in April, management described the Mac as "the best platform for AI," with its silicon capable of running advanced AI like never before.

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Who's going to monetize consumer AI? Most consumer AI usage is free. OpenAI surpassed 900 million weekly active users in February, with roughly 50 million paying subscribers and a conversion rate of around 5.5%. To the extent the frontier labs counted on consumers paying for AI inference, that opportunity may shrink as open-weight alternatives continue to improve and take share.

Apple's position is different. Its business is selling devices, so a local-AI wave means more memory and capacity, which raises the cost of goods sold for the hardware maker.

Its own AI execution has been lackluster so far. The previously delayed and rebuilt Siri fell short in internal testing in February, though management sounded optimistic on its July 30 earnings call. Siri AI has been in public beta testing for a few weeks, and the feedback has been positive.

In July, Apple sued OpenAI in federal court, alleging trade-secret theft tied to former engineers who joined the lab, including claims that trade secrets were taken to help OpenAI build its own devices.

Apple's lawsuit against OpenAI puts the consumer AI fight front and center. As expected, the company remained silent about the lawsuit during its earnings call.

Apple has the silicon. With breakthroughs such as PrismML's, consumers may not have to wait much longer for capable AI that can run offline and keep data on the device without a monthly fee.

Apple (AAPL -7.35%) continued its streak of strong iPhone sales during its fiscal third quarter, but the stock fell as service revenue and China sales came up short of expectations. Nonetheless, the stock is still up around 48% over the past year.

Apple once again saw robust iPhone sales, as consumers rushed to buy the smartphone ahead of expected price increases due to rising component costs. iPhone revenue jumped 22% year over year to $54.3 billion in the quarter ended June 27, which was ahead of the $53.86 billion consensus, as compiled by LSEG. It saw strength across both developed and emerging markets, and its installed base hit an all-time high.

Image source: The Motley Fool.

Apple's other product sales were mixed Mac revenue was also robust, with sales surging 29% year over year to $10.4 billion and cruising past analyst expectations for sales of $8.74 billion. The company credited the strong sales to the success of the new MacBook Neo and MacBook Pro. It set records in the quarter for both new customers and upgraders.

Sales of Apple's other products were mixed. Sales of iPads fell 6% to 6.2 billion, as it faced tough comps following the introduction of last year's A16-powered iPad. Wearable revenue, meanwhile, rose by 6% to $7.9 billion, with the company seeing a record number of Apple Watch upgraders.

Total product segment sales climbed by 18% to $78.7 billion. China was once again solid, with revenue increasing 22% to $18.82 billion. However, that did fall well short of analyst expectations for revenue of $19.58 billion.

Apple Services revenue growth slowed Apple's services segment -- which consists of its App Store, iCloud storage, Google Search revenue sharing, Apple Pay, Apple TV, and more -- saw revenue grow 12% to $30.74 billion. That was a big deceleration from the 16% growth it saw last quarter and fell well shy of the $31.22 billion in revenue expected by analysts. The company said it saw significant currency headwinds in the quarter, which impacted its service growth by 2.5 percentage points.

Product gross margin rose by 140 basis points sequentially to 40.1%, with tariff refunds having a positive impact of 2.5 percentage points. Like other companies in the tech space, Apple is trying to manage soaring memory prices. Service margin, meanwhile, fell by 110 basis points sequentially to 75.6% due to a shift in revenue mix. Overall gross margin was 50.1%, helped by 2 percentage points from tariff rebates. Even excluding that, it would have been above analyst expectations of 47.9%.

Apple guidance points to headwinds Overall, Apple's revenue rose by 16% to $109.42 billion, while its earnings per share (EPS) climbed 29% to $2.02. Excluding an $0.11 tariff rebate boost, adjusted EPS would have been $1.89. That topped the analyst consensus estimates for EPS of $1.89 on sales of $108.65 billion.

For the fiscal fourth quarter of 2026, Apple projected its revenue to grow by 9% to 11% year over year. iPhone sales are expected to grow in the mid-teens, impacted by currency headwinds and supply constraints. Service revenue is expected to rise at a similar level to fiscal Q3, after removing the currency impacts it saw last quarter. It guided for gross margin to be between 47% and 48%.

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Is it time to buy the dip? Apple has a fabulous compounding business model, where its product sales, led by iPhones, bring people into its ecosystem and feed directly into its high-margin services business. Given the strong product growth the company has been seeing and the record iPhone install base, this should translate into stronger service revenue down the road, so I wouldn't be worried about one quarter of growth impacted by currency headwinds.

That said, it is also facing some memory headwinds, and its stock valuation has become quite frothy. Even after the dip, the stock trades at a forward price-to-earnings (P/E) ratio of around 34.5 times based on analysts' estimates for fiscal 2027 (which ends in September 2027).

The stock has been on a tremendous run over the past decade, but a lot has come from multiple expansion. As such, I wouldn't be buying the stock just yet on this pullback.

Ilika PLC (AIM:IKA, OTCQX:ILIKF, FRA:I8A) this week outlined continued commercial progress across its Stereax and Goliath solid-state battery businesses, with chief executive Graeme Purdy highlighting the company's transition into revenue generation alongside several commercial catalysts expected over the next 12 to 18 months.

Purdy, in an interview in the Proactive studio, said the most significant development for the Stereax business had been its move into commercial production, with Ilika now supplying commercial-grade electrodes to Cirtec for incorporation into the M300 medical device product, which is expected to reach the market later this year.

He said the company had already recognised approximately £100,000 in revenue during the previous financial year, describing it as an early indicator of future growth. Purdy added that a second revenue stream is expected to emerge through royalty payments once products incorporating Stereax batteries are sold to end customers.

Here, we take a closer look at what was said when Graeme Purdy joined the Proactive studio.

Proactive: You've described the past year as one of strong commercial progress. What do you see as the standout achievements across both the Stereax and Goliath programmes?

Graeme Purdy: The biggest achievement for Stereax is that the business has transitioned into generating product revenue by selling commercial-grade electrodes to Cirtec for incorporation into the M300 product, which is expected to launch later this year. On Goliath, shipping 10Ah prototypes to OEM and commercial customers for validation represents a major commercial milestone that is creating new opportunities.

Proactive: Stereax has now moved into commercial production and is generating revenue. How significant is that milestone?

Graeme Purdy: It is highly significant because Ilika expects that revenue stream to grow during the current financial year. Around £100,000 was recognised in the previous year's accounts as an early indicator. The company also expects product royalties to begin once products reach customers, adding to electrode sales.

Proactive: Goliath is attracting interest beyond electric vehicles, particularly from defence and e-bike markets. How does that broaden the opportunity?

Graeme Purdy: The 10Ah prototypes were originally developed for the EV roadmap, but inbound enquiries came from non-EV sectors. Customer feedback has been positive and Ilika now intends to commercialise those cells for defence and consumer applications, including e-bikes, supported by proceeds from the recent fundraising.

Proactive: Following the recent £5 million fundraising, what milestones should investors watch over the next year?

Graeme Purdy: For Stereax, investors should look for support of Cirtec's marketing activities, integration into Cirtec's medical device platforms and the commencement of royalty payments. For Goliath, milestones include delivery of commercial 10Ah products, letters of intent and commercial agreements, early revenues, ongoing validation by automotive partners, further UK grant support and progress towards the company's first licensing agreement.

FireFly Metals Ltd (ASX:FFM, TSX:FFM, OTC:FFMFF) earlier this week outlined further progress at its Green Bay Copper-Gold Project in Newfoundland and Labrador, where continued high-grade drilling is being incorporated into an updated mineral resource estimate and an upcoming economic study.

Managing director Steve Parsons said drilling at the Ming underground mine had returned some of the highest-grade copper and gold intersections recorded on the property to date.

Parsons said the results included broad intersections of approximately 30 to 50 metres at grades ranging from about 4% to 6% copper equivalent. He added that the results were supporting the conversion of more of the project’s approximately 80-million-tonne resource into the measured and indicated categories.

“The grade seems to be getting better and better,” Parsons said.

A key potential catalyst is the release of the updated resource and preliminary economic assessment and scoping study, which is targeted for August 2026. The study will assess an upscaled restart of production at Green Bay and is expected to place particular emphasis on the project’s high-grade Core Zone.

Parsons said the Core Zone contained nearly 20 million tonnes grading close to 4% copper equivalent. He described the deposit as primarily a copper orebody with a gold credit, with copper accounting for most of the metal value.

FireFly Metals expects the high-grade material to play an important role during the early years of a potential mining operation, which may support stronger margins during the initial production period.

Further drilling results represent another near-term catalyst. Six underground drill rigs are continuing infill and step-out drilling, while additional activity is underway across near-mine and satellite targets.

Parsons said drilling had started at Rambler and East Mine, both located a few kilometres from the planned processing plant site. Regional exploration had also commenced at Tilt Cove, providing further scope for news flow beyond the main Ming deposit.

The company’s financial position remains another important factor in its development strategy. FireFly Metals ended the quarter with approximately A$196.4 million in cash and liquid investments.

Parsons said the balance sheet provided sufficient funding to continue drilling, engineering and development work over the next several years.

Beyond the August study, a future bankable feasibility study is expected around the end of 2026 or the beginning of 2027. Parsons said the resource remained open and that further high-grade material could be incorporated as drilling continued.

Interview highlights FireFly Metals reported some of the highest-grade copper and gold intersections recorded to date at the Green Bay Copper-Gold Project. Infill drilling is focused on converting more of the approximately 80-million-tonne resource into the measured and indicated categories. Recent intersections included widths of approximately 30 to 50 metres at grades of around 4% to 6% copper equivalent. The high-grade Core Zone contains nearly 20 million tonnes grading close to 4% copper equivalent. Parsons described Green Bay as primarily a copper orebody with an additional gold credit. The overall resource stands at approximately 80 million tonnes grading 2.2% copper equivalent and containing around 1.7 million tonnes of copper equivalent. FireFly Metals expects the high-grade Core Zone to make a significant contribution during the early years of a potential mining operation. An updated mineral resource estimate and scoping study are expected in July or August 2026, with completion targeted for August. The resource remains open, with additional high-grade material expected to be considered in a future bankable feasibility study. Six underground drill rigs are operating at Green Bay, focusing on infill and step-out growth drilling. Drilling is also progressing across near-mine and satellite targets, including Rambler and East Mine. Regional exploration has commenced at Tilt Cove. FireFly Metals ended the quarter with approximately A$196.4 million in cash and liquid investments. The company said its funding position should support continued drilling and development work for the next several years.

Proactive: FireFly Metals has strengthened the development case for its Green Bay Copper-Gold Project during the June 2026 quarter, reporting encouraging high-grade drilling results from a core zone expected to support early, high-margin production. Here to discuss the quarter is managing director Steve Parsons. Steve, good to see you.

Steve Parsons: Good to see you, Jonathan.

Proactive: Talk us through the key achievements at Green Bay during the quarter and what you are seeing.

Steve Parsons: As with previous quarters, we have a lot of workstreams progressing at the same time and we are moving quickly at FireFly Metals.

The announcement included some excellent drill results, including the highest-grade copper and gold intersections we have recorded on the property to date. The results seem to be getting better and better.

A significant amount of infill drilling is underway to convert more of the approximately 80-million-tonne resource into the measured and indicated categories. Some of the latest results included intersections of 30, 40 and 50 metres at grades of around 4%, 5% and 6% copper equivalent.

Those results are central to upgrading the resource, which is expected to be released alongside the upcoming scoping study.

Proactive: What do the latest high-grade drilling results indicate about the Core Zone’s potential to support early production?

Steve Parsons: The Core Zone contains nearly 20 million tonnes at almost 4% copper equivalent.

Whenever I refer to copper equivalent, investors should think of Green Bay as a copper orebody with a gold credit. Depending on the location within the orebody, approximately 20% to 30% of the metal value comes from gold, with the remaining 70% to 80% coming from copper.

The overall resource currently stands at approximately 80 million tonnes grading 2.2% copper equivalent, containing about 1.7 million tonnes of copper equivalent. Most of that is copper, with the additional gold credit.

Our aim has been to infill-drill the high-grade area and convert nearly 20 million tonnes at around 4% copper equivalent into the measured and indicated categories.

Investors can expect further drilling results over the next few weeks as we work towards completing the study and resource upgrade.

That high-grade material is expected to be significant during the early years of the proposed mine life and production profile.

Proactive: What will the updated mineral resource add to the August economic study?

Steve Parsons: We expect the updated resource and study to be released at around the same time. The study is imminent and is expected to be completed within the next few weeks.

There is a great deal of work underway with consultants and the FireFly Metals team. The most important task is receiving the remaining high-grade drilling results.

We released the latest results a couple of weeks ago and hope to include one more batch before the final cut-off for the study.

The resource remains open. By the time we release a bankable feasibility study around the end of 2026 or the beginning of 2027, we expect significantly more high-grade material to be incorporated.

However, we need to draw a line in the sand for the current study. As previously stated, we expect to release it during July or August 2026.

Proactive: FireFly Metals is also well funded, with approximately A$196.4 million in cash and liquid investments.

Steve Parsons: There is a substantial amount of cash available, at just under A$200 million.

Our main cost at present is drilling, and we are managing expenditure carefully. Six drill rigs are operating underground and adding further high-grade material, with more results expected shortly.

Regional targeting is also beginning. Once the study is released, we expect to discuss those regional targets in much greater detail, and the drilling program may also ramp up.

We have sufficient cash to support the company’s activities for the next couple of years.

Proactive: What can investors expect to see during the coming quarter?

Steve Parsons: Investors know that FireFly Metals undertakes a significant amount of drilling.

Six underground drill rigs are operating, with a focus on high-grade step-out growth drilling. There is also some remaining infill drilling to complete across the high-grade Core Zone, so investors can expect further results from those areas.

Near-mine drilling results are also expected shortly.

We have also started drilling at satellite deposits, including Rambler and East Mine, which are only a few kilometres from the planned location of the processing plant.

In addition, regional drilling has begun at Tilt Cove for the first time. Investors should expect news flow across all of those areas.

The major upcoming milestone is the scoping study, which should be released very soon.

With an approximately 80-million-tonne resource grading 2.2% copper equivalent, and with grades appearing to improve, investors should expect the study to outline a potential multi-decade, high-quality copper operation with a gold credit.

Proactive: I am sure we will speak again when the study is released. Good luck with everything, and we will speak again soon.

Steve Parsons: Thanks, Jonathan. Cheers.