Key Takeaways Apple's fiscal Q3 growth is expected to be led by strong iPhone 17 demand and higher Pro sales.Mac sales are forecast to rise 7.8%, aided by M5 models, though chip constraints may limit supply.iPad and wearables may post modest growth amid a tough comparison and steady device demand. Apple’s (AAPL - Free Report) third-quarter fiscal 2026 results, to be reported on July 30, are expected to have benefited from sustained demand for the iPhone 17 family and the more affordable iPhone 17e. The lineup delivered 22% year-over-year growth in the second quarter of fiscal 2026, supported by higher sales of Pro models, record upgrader activity and market-share gains. Demand remained strong across the United States, Greater China, Europe, India, Japan and Southeast Asia.
Apple Intelligence integration, advanced cameras, improved battery life and A19-series processors are likely to have encouraged upgrades. New accessibility capabilities, including AI-powered VoiceOver, Magnifier and natural-language Voice Control, further enhance the utility of the iPhone. However, growth could moderate sequentially following the exceptionally strong fiscal second quarter performance.
The iPhone accounted for 51.3% of net sales in the second quarter of fiscal 2026. The Zacks Consensus Estimate for fiscal third-quarter iPhone sales is pegged at $53.967 billion, suggesting roughly 21.1% year-over-year growth.
Click here to learn how Apple’s overall fiscal third-quarter earnings results are likely to be.
AAPL’s MacBook Demand Expected to Remain RobustMac revenues are expected to have benefited from strong demand for the MacBook Neo, M5-powered MacBook Air and MacBook Pro models featuring M5 Pro and M5 Max processors. Mac sales increased 6% year over year in the second quarter of fiscal 2026, driven primarily by higher laptop sales, while the installed base and the number of customers new to Mac reached records.
Apple Silicon’s ability to run advanced AI models locally is strengthening Mac adoption among developers, enterprises and educational institutions. MacBook Neo’s lower price is also expanding Apple’s addressable market. Nevertheless, Mac performance is likely to have been constrained by limited availability of advanced semiconductor nodes. Apple indicated that several Mac models would remain supply constrained during the third quarter of fiscal 2026 because demand exceeded expectations.
The PC segment climbed up 4.9% in the second quarter of calendar 2026, according to IDC. Apple had a market share of 9.9%, up 140 basis points (bps) on a year-over-year basis. Shipments grew 10.1% year over year to 6.7 million. In terms of shipments, Apple outperformed Dell Technologies (DELL - Free Report) , Lenovo (LNVGY - Free Report) and HP (HPQ - Free Report) . Shipments of Dell, Lenovo and HP declined 2.1%, 5%, and 9%, respectively, per IDC data. Dell, Lenovo and HP have market shares of 13.6%, 24.4% and 19.1%, respectively.
The Zacks Consensus Estimate for fiscal third-quarter Mac sales is pegged at $8.674 billion, suggesting 7.8% year-over-year growth.
AAPL iPad Revenues Likely to Face a Difficult ComparisoniPad revenues are expected to have benefited from demand for the M4-powered iPad Air, the A16-powered entry-level iPad and the M5-powered iPad Pro. In the fiscal second quarter, iPad sales increased 8% year over year, while more than half of buyers were new to the product. Strong adoption in emerging markets, including India, Mexico and Thailand, is likely to have supported the segment.
Enhanced Apple Intelligence and accessibility features, including natural-language Voice Control, Accessibility Reader and privately generated video subtitles, should improve iPad’s appeal for education, productivity and creative workloads. However, Apple warned that the segment faced a difficult year-over-year comparison because the A16-powered iPad was introduced in the prior-year quarter. Consequently, iPad revenues may have declined or posted only modest growth.
The Zacks Consensus Estimate for fiscal third-quarter iPad sales is pegged at $8.674 billion, suggesting 5.1% year-over-year growth.
Apple's Wearables Expected to Register Modest GrowthWearables, Home and Accessories revenues are expected to have benefited from demand for Apple Watch Ultra 3, Apple Watch Series 11, Apple Watch SE, AirPods Pro 3 and AirPods Max 2. The category grew 5% year over year in the second quarter of fiscal 2026, driven by higher wearables and accessories sales. The wearables installed base reached a record, with more than half of Apple Watch buyers being new to the product.
Apple Watch’s health and fitness capabilities and AirPods’ intelligent features, including Live Translation, are likely to have supported demand. The wider integration of Apple Intelligence and accessibility functions across Apple devices may also strengthen ecosystem engagement.
The Zacks Consensus Estimate for fiscal third-quarter Wearables, Home and Accessories sales is pegged at $7.805 billion, suggesting 5.4% year-over-year growth.
Zacks RankApple currently has a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Apple (AAPL), a consumer-electronics company producing iPhones, Macs and other devices, rose in Wednesday's regular-session trading as investors prepared for re
Apple continues to prove itself as the ultimate market safe haven.
Even as broader tech names and momentum plays have faltered, Apple has hit new all-time highs. Investors view the Cupertino titan as uniquely "above the fray," remaining largely insulated from the eye-watering AI capital expenditure cycles of the mega-cap hyperscalers while avoiding the supply chain exposure of pure-play chipmakers. It has also, so far, avoided some of the pain that some in the AI mosh pit have suffered recently.
Apple, YTD
Heading into this quarter's earnings report Thursday after the bell, options pricing reflects this calm. The options market implies a modest post-earnings move of just 3.8%, making volatility premiums surprisingly reasonable across the board.
Here two ways to play it into earnings, one to hedge and the other to play for a move higher.
Strategy 1: The Low-Cost Portfolio Hedge (For Long Holders)For investors sitting on substantial gains, protecting profits ahead of the print is rarely this inexpensive. Institutional flow is already signaling a defensive tilt: one of the more notable institutional blocks that traded today was exactly that, a purchase of 3,500 August $310 puts; the trader paid $2.22/contract.
The Cost: Protection costs roughly 65 basis points (0.65%) of the current share price. In this setup, long holders would be protected below $307.78
The Setup: The $310 strike sits higher than where the stock traded during its previous quarterly report. Buying downside protection here allows long holders to lock in a substantial portion of the recent run-up while risking less than 1% of total position value.
Strategy 2: Defined-Risk Call Buys (For Prospective Bulls)If you aren't long but want upside participation, buying shares outright asks a tremendous amount of your capital. Apple currently trades at 35x+ forward earnings—its highest valuation multiple since 2007. Chasing full-sized equity positions at peak multiples while the broader tape softens creates an uncomfortable risk/reward entry.
Instead, prospective buyers should look to long calls or bull call spreads:
The Benefit: Buying call options leverages upside potential if Apple beats expectations while strictly capping your maximum risk.
Risk Management: You avoid full equity exposure if the stock's elevated 35x multiple experiences a sudden re-rating lower.
The TakeawayReasonable options pricing into this print creates clean opportunities on both sides of the trade. Long shareholders can lock in downside protection for pennies, while prospective bulls can capture potential earnings momentum without taking on full valuation risk at record-high multiples.
Apple (NASDAQ: AAPL) has reached a $5 trillion market cap, rising 21.5% over the past month and overtaking Nvidia(NASDAQ: NVDA) as the most valuable company, trading at $341.38 at the time of writing, July 29.
Accordingly, a $1,000 investment in the iPhone maker a month ago would now be worth approximately $1,212, a gain of over $200 in just four weeks as the shares went from $281.74 to $341.38 at press time.
Apple stock price on July 29. Source: Google Finance The rally is more noteworthy as Apple is not as closely tied to artificial intelligence (AI) as much as some of its tech competitors, such as Nvidia and Micron Technology (NASDAQ: MU), which have been going through some volatility in the same period, despite their close involvement with the market’s primary growth driver.
For comparison, Micron has crashed 30% in the past month as investor concerns about the sustainability of the AI-driven memory boom become more pronounced, while Nvidia shares have dropped 1.3%, being unable to regain the momentum it enjoyed in the second quarter.
Apple stock rallies ahead of earnings as the iPhone maker becomes the most valuable company Thanks to the ongoing rally, Apple has become the strongest-performing member of the Magnificent Seven technology stocks in 2026. Tomorrow’s earnings call, expected to be Tim Cook’s final one as CEO, is expected to provide additional growth catalysts, as the company has beaten both earnings and revenue estimates in each of the past eight quarters.
In the previous quarter, Apple posted record revenue of $111.2 billion and earnings per share of $2.01, representing year-over-year increases of around 17%** and **22%, respectively. Services revenue climbed to a record $31 billion, helping lift gross margins as recurring revenue continued to grow. This quarter, Wall Street expects Apple to report earnings of $1.89 per share on revenue of approximately $108.9 billion.
iPhone demand has ALSO remained resilient, with shipments reportedly rising 3% during the quarter, while Apple’S global smartphone market share reached a record 20%. The continued hardware momentum could aid further expansion of the high-margin services business, which has consistently delivered mid-teen revenue growth.
Featured image via Shutterstock
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Apple stock is rising and on pace to end Wednesday's trading session with a market value above $5 trillion for the first time in the company's history.
View of an Apple logo at an Apple store in Paris, France, April 23, 2025. REUTERS/Abdul Saboor/File Photo Purchase Licensing Rights, opens new tab
CompaniesLONDON, July 29 (Reuters) - Apple (AAPL.O), opens new tab said on Wednesday that proposed UK rules governing its App Store would amount to price regulation, arguing that plans to loosen its control over in-app payments could undermine innovation and investment.
In a submission to Britain's Competition and Markets Authority, the iPhone maker said proposed "steering" requirements would go beyond promoting competition and give the regulator a "highly intrusive" role in managing its business.
Jumpstart your morning with the latest legal news delivered straight to your inbox from The Daily Docket newsletter. Sign up here.
The CMA's consultation, which closed on Monday, is part of its efforts to boost competition and consumer choice. Its proposed measures would allow app developers to direct users to payment options outside Apple's App Store and Google's Play Store and require any fees charged for such steering to be fair and reasonable.
Apple said the App Store facilitated more than £46.5 billion ($61.8 billion) in UK billings and sales in 2025, with commissions accounting for less than 3.5% of the total. It added that there was no evidence changes to its payment model would lower prices for consumers.
"Under the (consultation), the CMA would not only regulate Apple's prices, but also restrict the products and services for which Apple can charge a commission," the company said in its submission.
Gene Burrus, global policy counsel for the Coalition for App Fairness, which has long campaigned for restrictions on Apple and Google app store practices, said Apple's arguments overlooked the barriers developers face.
"Apple is using its position as the dominant platform gatekeeper to give itself unfair and unwarranted competitive advantages," Burrus said.
Apple has previously said developers already have multiple ways to transact with users outside its platform.
The CMA consultation is part of Britain's new digital markets regime, which gives the watchdog powers to impose tailored requirements on companies designated as having "strategic market status".
Apple and Google were designated under the regime last year.
($1 = 0.7521 pounds)
Reporting by Sam Tabahriti. Editing by Mark Potter
Our Standards: The Thomson Reuters Trust Principles., opens new tab
Sam Tabahriti is a UK breaking news correspondent covering general and political news for Reuters. He has over five years of experience covering general news and three years covering business and legal news. He is also a keen cyclist and photography enthusiast.
Tim Cook's final earnings call as Apple CEO takes place the same week the iPhone maker touched a $5 trillion market cap and surpassed Nvidia as the world's most valuable company. But there's no time to celebrate.
Even with the stock trading at a record price and up 25% this year, topping its megacap peers, Apple is reckoning with a memory crunch and a rush for chip manufacturing capacity that's forcing the company to lift prices on devices. Meanwhile, Apple has still yet to launch a redesigned Siri to the public, the most glaring example of how far behind the company has fallen in artificial intelligence.
With Cook set to step down on Sept. 1, and assume the role of executive chairman, the emerging challenges will land in the lap of John Ternus, a 25-year Apple veteran and its head of hardware. Ternus said little on the prior earnings call in April, which came shortly after the CEO transition was announced.
Investors are likely to ask more of Ternus on Thursday, after the company reports fiscal third-quarter results. He'll become just the second CEO since Steve Jobs stepped down a few months before he died in 2011. Cook's 15-year run at the top has been highlighted by a fourteen-fold increase in the company's valuation despite its inability to launch a major hardware platform after the iPhone and its struggle to find a big market for its high-priced Vision Pro virtual reality headset released in 2024.
"Tim Cook, he's a really talented supply chain operations guy, and I think he's done just a remarkable job of navigating the environment," said Melissa Otto, head of Visible Alpha research at S&P Global, in an interview. "We'll get some visibility or some commentary at least around the current environment and how they're navigating it."
watch now
Last month, Apple, citing the global memory shortage, raised starting iPad and Mac prices by at least $100, with some models increasing by more than $1,000. Analysts expect iPhone price hikes this year. In the meantime, Apple announced a program on Tuesday with Klarna, a provider of buy now, pay later loans, that will allow customers in the U.S. to lease an iPhone for up to two years at a price starting at $17.99 per month.
The price increases of up to 20% on some devices were announced just before the end of the quarter, so their impact won't be felt until the current period. For the quarter ended in June, analysts expect to see a total revenue increase of about 16%, with that growth number slipping to 12% in the current period.
More important to investors is what higher prices will do to demand in the December quarter, Apple's biggest of the year.
'Fundamentals are very strong'Counterpoint Research sees total smartphone shipments falling nearly 14% this year, the steepest decline since 2013. The part of the market at greatest risk is the lower end, where manufacturers have less room to pass on skyrocketing memory costs. That largely means Android phones.
Apple could signal "market share gains given pricing increases at competitors," wrote Goldman Sachs analysts, who have a buy rating on the stock, in a note this week.
Apple has yet to raise prices or change iPhone forecasts even after its June warning, though some analysts are altering their models. The hikes could actually boost earnings, some analysts say, due to the company's renowned brand.
"We continue to believe that Apple fundamentals are very strong, with myriad price hikes likely to drive upside to revenue and EPS over the next 6-18 months," analysts at Morgan Stanley wrote in a note last week. The firm recommends buying the stock, but they slashed their Mac forecast for the September quarter by 8% because of supply challenges.
The memory shortage is the biggest near-term challenge facing Apple, but the more significant risk to its business over the longer term likely has to do with its AI strategy.
Instead of spending heavily on AI infrastructure to build or serve advanced models, Apple is licensing much of its AI technology from Google as well as using its cloud. While the hyperscalers are all shelling out well over $100 billion in capital expenditures this year, and some are likely to exceed $200 billion, analysts expect Apple to spend just more than $11 billion, with $3.4 billion coming in the latest quarter, according to FactSet.
"While Apple was initially bruised by many investors for not joining the LLM investment cycle, investors are coming around to Apple's industry-leading" free cash flow, analysts at Baird wrote this month. They recommend buying the stock.
Before Google, Apple's main AI partner was OpenAI, whose ChatGPT was integrated into Siri and other parts of the operating system. That partnership has nearly fallen apart, and Apple sued OpenAI on July 10, alleging trade secret theft. OpenAI denied the claim.
Apple needs its redesigned Siri, which was released in beta in June and is expected to launch this fall alongside new iPhones, to catch on with the public. It then needs to follow that release up with more AI features to keep pace in an industry that's moving at warp speed.
With Ternus taking over, the company may be gearing up for more aggressive AI investing. Under Cook, the company threw off so much cash that it bought back more than $1 trillion in stock during his tenure.
In its last earnings report, Apple made a slight change to its stated policy of how it handles cash. Rather than sticking to a goal it's had since 2018 of being "net cash neutral," or getting its cash on hand equal to total debt, Apple said it will assess its cash and debt independently, which could free up funds for AI.
"We invest in the business first and foremost and then look to kind of return excess cash to shareholders," Apple CFO Kevan Parekh said on the April call.
Apple (AAPL, Financials), the consumer technology company, is expected to post its strongest June-quarter sales growth since 2021 as steady iPhone prices suppor
On July 28, 2026, Apple (NASDAQ:AAPL | AAPL Price Prediction) became the first U.S. company to reach a $5 trillion market capitalization, briefly touching $342.89 before settling at $340.08.
Our 24/7 Wall St. price target for Apple is $369.22 over the next 12 months, implying 8.57% upside. Our recommendation is buy, with confidence at 90%, which we consider high conviction given the durability of the earnings engine.
Metric Value Current Price $340.08 24/7 Wall St. Price Target $369.22 Upside 8.57% Recommendation BUY Confidence Level 90% How Apple Sprinted Past Nvidia to $5 Trillion Apple shares are up 3.77% in the past week, 19.84% in the past month, and 25.33% year to date. Over one year, AAPL has returned 59.51%.
In Q2 FY26, Apple posted revenue of $111.18 billion (up 16.6% YoY) and EPS of $2.01, beating the $1.94 consensus. Services hit an all-time record of $30.98 billion, and iPhone revenue reached $56.99 billion. Apple leapfrogged Nvidia, whose valuation slipped to $4.76 trillion on AI spending concerns.
The Case for $386 and Beyond The bull scenario carries AAPL to $386.22 over 12 months, a 13.57% total return. iPhone 17 demand remains “extraordinary” per Tim Cook. Greater China rebounded to $25.53 billion in Q1 FY26 from $18.51 billion. Services compounds at a 16.2% YoY clip with software-like margins.
Prediction markets on Polymarket assign a 0.895 probability to a foldable iPhone before 2027 and 0.97 probability to an iPhone 18 launch this year. The new Apple Upgrade leasing program with Klarna and a Siri-centered smart home push provide additional pull-forward levers.
The Risks Worth Watching The bear scenario lands AAPL at $312.64, an 8.07% drawdown. Valuation is stretched: a forward P/E of 35 and P/S of 10.96 leave little room for a demand air pocket. The analyst consensus target of $318.81 sits below the current quote.
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Insider activity has skewed toward selling, and shares trade near the 52-week high of $339.57. Bulls counter that insider sells at this scale are routine 10b5-1 activity and that the recent $100 billion buyback authorization and 4% dividend increase absorb far more supply than insiders create.
How Apple Compares to Nvidia and Broadcom Nvidia (NASDAQ:NVDA) is the natural comp. Nvidia’s market cap of $4.76 trillion reflects a 17% retreat from its May peak as investors question AI capex sustainability. Apple’s more conservative AI approach and hardware-plus-Services annuity make our $369.22 target reasonable, because Apple’s earnings base is far less dependent on one capex cycle.
Broadcom (NASDAQ:AVGO) belongs here because Apple has committed $30 billion-plus to Broadcom for silicon, part of Broadcom’s $230 billion new deal pipeline. That vertical integration lowers Apple’s component risk, supporting the premium multiple in our model.
The Milestone Verdict Our 24/7 Wall St. price target of $369.22 with 90% confidence points to a buy. The tiebreaker is earnings acceleration: 21.8% YoY growth at this scale is remarkable. Buy if the July 30 earnings report confirms iPhone Q3 revenue above $55 billion, and weakens if Services growth decelerates below 12% or Greater China rolls over.
Year 24/7 Wall St. Price Target 2026 $369 2027 $394 2028 $419 2029 $444 2030 $469 These projections assume Apple continues executing on Services growth and the iPhone upgrade cycle. Meaningful upside or downside could come from a foldable iPhone launch, Apple Intelligence monetization, or a tariff-driven margin shock.
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Apple's decision to hold iPhone prices steady is set to power its strongest June-quarter sales growth in five years, but investors will want to know how long it can resist an increase.
Apple will now let you lease an iPhone for as little as $17.99 a month. Yes, you read that right.
On Tuesday, the tech giant launched a new program called Apple Upgrade, a partnership with “buy now, pay later” service Klarna that enables U.S. customers to pay for certain Apple products via monthly installments.
Along with the iPhone, Apple announced that the Apple Watch, Mac, and iPad are also eligible for lease online through the Apple Store, in the Apple Store app, and at Apple Store locations. Apple Upgrade offers one- and two-year leasing options for the iPhone and Apple Watch, and two- and three-year options for Macs and iPads.
Shares of Apple Inc (Nasdaq: AAPL) were up nearly 1% and shares of Klarna were up 2% (Nasdaq: KLAR) in midday trading on Tuesday.
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“At Apple, we put the customer at the center of everything we do,” Karen Rasmussen, Apple’s vice president of the Apple Store online, said in a statement. “We’re thrilled that Apple Upgrade offers our customers, both online and in-store, a more flexible way to pay for the products they love.”
What products are available for Apple Upgrade and how much will it cost?Depending on the model, leasing prices start as low as $17.99 per month for iPhone, $11.99 for Apple Watch, $24.99 for Mac, and $11.99 for iPad.
However, iPhone 16, iPhone 16 Plus, Apple Watch SE, MacBook Neo, Mac mini, iPad (A16), and Studio Display are not available as part of the Apple Upgrade program.
I přes celkově včerejší poklidný vývoj, Asie přes noc znovu výrazněji oslabovala. Důvodem byl pokračující výprodej polovodičových akcií. V Jižní Koreji zaostal za očekáváni při kvartálních výsledcích výrobce pamětí SK Hynix (-10 %), jeho konkurent Samsung bude reportovat ve čtvrtek. Výprodej v Koreji poslal širší index MSCI Asie do záporu -1 % a jeho hodnota je nejníže od dubna. Futures kontrakty pro zámoří se přes volatilnější vývoj přes noc nicméně nyní obchodují bez větších změn, Evropa bude po včerejším růstu zřejmě nepatrně ztrácet. Zde investoři spíše sledují ceny ropy, které posilují téměř +4 %, Brent se obchoduje na 87 USD. USA oznámily, že zastavily překvapivý útok íránských vojáků. Hormuzský průliv zůstává nevyřešen. Středa přinese zasedání FEDu (zvýšení sazeb se nečeká, ale vyloučit nedá). Výsledky přinesou MSFT a Meta, zítra pak Apple či AMZN. V Evropě potvrdila výhled zisku společnost Porsche, silně vypadají čísla od Deutsche bank či UBS. Erste bude teprve zveřejňovat, ale nechala se slyšet, že do roku 2030 plánuje zdvojnásobit hodnotu čistého zisku. Očekávali bychom proto pozitivní reakci akcií.
Apple (AAPL, Financials), the consumer technology company, briefly crossed a $5 trillion market value as investors continued to reward its hardware strength des
Apple AAPL briefly crossed a $5 trillion market valuation on Tuesday, becoming only the second publicly traded company to reach the milestone.
The iPhone maker hit the mark less than a year after surpassing $4 trillion in October 2025. Shares are up roughly 24% this year and nearly 60% over the past 12 months, supported by resilient iPhone demand despite Apple's slower progress in generative AI.
That gap remains one of the biggest questions hanging over the stock. Apple delayed several flagship Apple Intelligence features, including an upgraded Siri, and later partnered with Google's Gemini models to strengthen its voice assistant. The revamped Siri is expected to enter beta later this year alongside the iPhone 18 lineup and Apple's first foldable iPhone.
The valuation milestone also arrives ahead of a major leadership change, with Tim Cook set to hand the CEO role to John Ternus on September 1.
Bloomberg's Ed Ludlow breaks down the selloff in chip stocks dragging the Nasdaq 100 near correction territory, after signs of progress in China's chipmaking add to worries about the sustainability of the AI spending boom. Plus, SpaceX shares erase a fifth of their value since the record-setting debut of Musk's company, as investors start to avoid riskier tech firms.
Apple Inc (NASDAQ:AAPL, XETRA:APC) has rolled out Apple Upgrade nationwide in the US, a hardware-leasing program available through the company's online store, the Apple Store app and its retail locations.
The program offers 12- and 24-month leasing terms for iPhone and Apple Watch, and 24- and 36-month terms for Mac and iPad. Monthly pricing starts at $17.99 for iPhone, $11.99 for Apple Watch, $24.99 for Mac and $11.99 for iPad.
While Apple has long offered trade-ins, monthly financing and its existing iPhone Upgrade Program, analysts at Bank of America said the new offering packages those mechanics into a single platform spanning Apple's major hardware categories, with support from buy-now-pay-later provider Klarna.
The bank called the move "directionally positive," pointing to potential upside from lower affordability friction, a richer product mix, faster device replacement cycles, deeper direct engagement with customers and monetization of residual device value.
Under a traditional purchase model, Apple collects the full device price upfront while the customer retains the hardware's residual value, with Apple only recapturing that value if the customer later trades the device in. Under Apple Upgrade, customers instead pay a lower monthly rate and return the device at lease-end, allowing Apple to monetize the remaining value through refurbishment and parts recovery.
BofA said the incremental opportunity lies in the combination of lease payments and returned-device value, paired with a faster upgrade cycle that can generate a new device transaction sooner while bringing residual value that was previously held by the customer into Apple's own hardware ecosystem.
Using the example of a $1,099 iPhone 17 Pro leased at $45.99 per month over 12 months, the bank calculated total customer payments of roughly $552, implying a residual device value of about $547, or roughly 50% of the phone's list price.
BofA also said the program could extend Apple's control over the customer relationship, though it characterized this as increased channel influence rather than outright disintermediation of wireless carriers, which still hold an advantage through their own trade-in subsidies.
An Apple-branded, carrier-independent upgrade path, the bank said, gives customers another reason to transact directly with Apple, supporting product mix, AppleCare and accessory attachment, device setup and the timing of future purchases.
Klarna's involvement, BofA added, should allow Apple to scale the program without building out its own underwriting and servicing infrastructure.
Apple is preparing a new push into the smart home market with fresh devices and software, including a hub device built around the new Siri AI assistant, according to sources. Bloomberg's Dana Wollman joins Ed Ludlow on "Bloomberg Tech."
It's the end of an era. Tim Cook, the CEO of Apple (AAPL +1.02%), who has led the company since 2011, will step down from his role and become the company's executive chairman. John Ternus, the company's senior VP of Hardware Engineering, will take the helm. That means Apple's upcoming update, for the third quarter of its fiscal year 2026 -- set for release on July 30 -- will be Tim Cook's last as CEO. Here's what to pay attention to in this upcoming quarterly report.
Image source: The Motley Fool.
Can the iPhone continue driving growth? Apple has posted strong financial results over the past few quarters. The company has returned to double-digit year-over-year revenue growth, and in its latest period, it posted its strongest result in that category in several years.
AAPL Revenue (Quarterly YoY Growth) data by YCharts
The company's iPhone 17 has been doing much of the heavy lifting. However, Apple has encountered supply constraints in its device segment. One thing to watch out for in the next update is whether Apple is still dealing with supply constraints and what impact they had on top-line growth during its third quarter. Apple expects revenue growth between 14% and 17%.
It may land toward the higher end of that range (or above), provided the iPhone maintained its momentum over the period, and the company addressed its supply constraints. It will also be interesting to see whether Apple can set new records for active devices across the iPhone and other products, as it often does, and whether the company's subscription base continues to expand. Apple's fourth-quarter guidance will also be a key metric to watch for. If management once again predicts mid-teens revenue growth, that will say a lot about the health of the business.
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Is Apple stock a buy? Apple could fall short of expectations in its upcoming period, potentially sending the stock sharply lower. However, for investors focused on the long game, the company looks attractive regardless of what happens when it releases its Q3 earnings report. Here are three reasons why. First, Apple is reportedly planning to launch a brand-new, foldable iPhone. This device could help it compete with similar ones other smartphone makers have released, meaningfully expand its market, and boost its ecosystem of active devices.
Second, Apple's services segment remains healthy and will only improve as the company continues to bring new customers into its ecosystem. That will lead to stronger profits, since its services segment carries much higher margins than its device business. Third, Apple remains a terrific dividend stock. The company's forward yield isn't very impressive at 0.3% -- the S&P 500's average is about 1.1% -- but Apple hikes its dividends regularly and has ample room to keep doing so, given its very conservative 15.6% cash payout ratio. Apple is worth sticking with for all those reasons, regardless of what happens on July 30.
Shortly after unseating Nvidia as the world's most valuable company, Apple (AAPL) became the second to hit a market value of $5 trillion after the chip giant.
Marley Kayden discusses Apple (AAPL) topping $5 trillion in market cap for the first time, along with the Mag 7 giant's new partnership with Klarna (KLAR).
Apple is taking a very different path through the AI boom. In this Yahoo Finance interview, Dan Howley breaks down why investors are rewarding Apple's more disciplined AI strategy, what John Ternus inherits as Tim Cook steps aside as CEO, and what the company must do to find its next breakthrough product beyond the iPhone.
Key Takeaways Apple is due to report earnings Thursday afternoon, with options pricing suggesting traders see its stock swinging up to about 4% by the end of the week. Thursday’s report will be Apple’s last with Tim Cook as CEO, with John Ternus set to take over the top job in September. Get personalized, AI-powered answers built on 27+ years of trusted expertise.
Apple is set to report earnings after the closing bell Thursday, with traders expecting the iPhone maker’s stock could extend its record-setting rally following the results.1
Based on current options pricing, Apple (AAPL) shares are seen swinging up to about 4% in either direction by the end of the week. A move of that size from Tuesday’s close could send the stock up to a new record above $352, or back below $328, giving up some of its recent gains.
After overtaking Nvidia (NVDA) as the world’s most valuable company and watching its market capitalization briefly cross the $5 trillion threshold, Apple saw its shares finish Tuesday’s session 1% higher at a closing record of $340. The iPhone maker’s stock has added one-quarter of its value this year amid optimism around strong iPhone sales and anticipated advances under new CEO John Ternus, who’s set to take the helm from Tim Cook in September.
Why This Matters to Investors Thursday’s earnings call will be Apple’s last with Tim Cook as CEO, with investors likely to watching closely for any updates on the company’s plans.
Ahead of the report, Morgan Stanley analysts lifted their price target to $364 from $360, suggesting investors could be underestimating Apple’s potential revenue growth in the next few quarters from recent price hikes to offset soaring memory costs.2
Apple is projected to report fiscal third-quarter revenue of $103.2 billion, up 15% year-over-year, along with earnings per share of $1.87, compared to $1.57 the same time a year ago, per Visible Alpha estimates.
Wall Street analysts are largely bullish on Apple. Five of the eight analysts tracked by Visible Alpha have issued “buy” recommendations, compared to one neutral and two “sell” ratings, though the stock has already overtaken their mean target of $333 with its recent gains.
Apple has become only the second company to pass the $5tn valuation mark, as it benefited from investors fleeing AI and semiconductor stocks amid a wider tech sell-off.
The iPhone maker’s shares hit a session high of $342.89 on Tuesday, giving it a market capitalisation of $5.04tn (£3.78tn), then eased back to 0.8% up at $339.68 – around the $4.99tn mark.
Apple became the world’s most valuable company earlier this month, overtaking the chip giant Nvidia, which had been at the top since June 2025 and became the first company ever to breach the $5tn threshold last October.
The US consumer electronics company’s rally has been driven as much by strong demand for its products as its decision to sit out the AI spending race that is sapping cash flows at big tech rivals.
Its fresh valuation high came amid an intensifying sell-off of AI stocks around the world driven by rising concerns about AI companies’ borrowing to fund datacentre expansion.
US chip stocks extended their recent losses when Wall Street opened on Tuesday, with Intel, Advanced Micro Devices, Sandisk, Western Digital and Seagate Technology all down by more than 4%.
The Nasdaq 100 index of leading tech stocks fell by as much as 1.8% at one point, meaning since its early June record high it had fallen more than 10% – the technical definition of a market correction.
Meanwhile South Korea’s stock market slid to its lowest level since mid-April, with semiconductor companies SK Hynix and Samsung Electronics falling by more than 10%.
Analysts attributed the sell-off to renewed worries over AI investment spending, and competition from cheaper Chinese companies, after a report by the Information that China had begun mass production of homegrown deep ultraviolet (DUV) chip-making tools.
Apple’s decision to hold iPhone prices steady, despite increases last month for MacBooks and iPads, has bolstered demand. Photograph: Lucas Jackson/ReutersInvestors may also be growing jittery about the “circular funding” at the heart of the AI industry, through which artificial intelligence companies finance one another.
They have also been spooked by the announcement by Google last week that it was further increasing capital spending this year to as much as $205bn to fund its AI plans, while reporting negative free cashflow for the first time in its history, burning through $5.9bn in the three months to the end of June.
Apple has been shielded somewhat by being somewhat of an AI laggard. Its difficulties in developing in-house models meant it has instead relied on Google’s technology to power new services such as a revamped Siri. That has spared it the hefty infrastructure costs that have left big tech investors wary.
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Apple’s decision to hold iPhone prices steady last month when it announced increases for MacBooks and iPads has also bolstered demand as buyers scooped up the company’s flagship device ahead of expected price hikes later this year, analysts have said.
To aid demand, Apple on Tuesday also launched a device leasing programme in the US through the payments firm Klarna, under which monthly payments start at $17.99 for an iPhone, $11.99 for an Apple Watch or iPad, and $24.99 for a Mac.
“Apple has resisted the AI spending race, betting that customer experience – not infrastructure investment – will ultimately determine the winners,” said Dipanjan Chatterjee, a vice-president and principal analyst at Forrester. “The new leasing programme is a clever response: it doesn’t reduce the price of an iPhone, but it changes how consumers perceive the cost by replacing sticker shock with a predictable monthly payment.”
Including session gains, Apple stock has jumped 24% so far this year, widely outperforming the other six of the “Magnificent Seven” cohort of US technology stocks.
Apple is to report its third-quarter earnings after the market close on Thursday, with analysts expecting a more than 15% jump in revenue for the period compared with a year earlier.
AAPL heads into fiscal Q3 earnings with strong iPhone, Services and AI momentum, but supply constraints, rising costs and a rich valuation cloud the outlook.
Apple on Tuesday briefly hit a market capitalization of $5 trillion for the first time, a day after passing Nvidia to become the most valuable publicly traded company.
Shares of the iPhone maker, which reports quarterly results on Thursday, have jumped 25% this year, outpacing its megacap peers. The stock reached a high of $342.89 on Tuesday before slipping a bit.
While the hyperscalers — Alphabet, Amazon, Meta and Microsoft — are collectively pouring hundreds of billions of dollars into capital expenditures this year for their artificial intelligence buildouts, Apple has kept its capex spending low, and is using cloud infrastructure and AI technology from Google.
Apple trailed its trillion-dollar peers on the market last year as investors worried that the company was missing out on the AI boom by keeping investments in check and delaying the long-awaited rollout of an upgraded Siri, which will be released this fall alongside new iPhone hardware. But the narrative has flipped of late due to concerns that the aggressive tech spenders are raising mounds of debt and going cash flow negative without a clear path to hefty returns.
The debate over the future of AI is embedded in the jockeying between Apple and chipmaker Nvidia for market cap supremacy. Nvidia, whose graphics processing units power most of the big AI models, became the first company to hit the $5 trillion mark in October, but the stock has been a relative laggard this year, gaining only 6%.
Apple's stock has rallied, meanwhile, despite price hikes on devices resulting from the global memory shortage.
On Tuesday, Apple announced Upgrade, a new program that will allow customers in the U.S. to lease iPhones and other products, instead of buying them outright. Last month, the company lifted prices on MacBooks and iPads, its first formal move to pass higher memory and storage costs on to consumers after CEO Tim Cook said increases had become unavoidable.
Thursday's earnings call will be Cook's last as CEO, with John Ternus set to take over on Sept. 1.
ToplineApple and digital payment provider Klarna unveiled a new program on Tuesday allowing customers to lease rather than purchase various consumer tech products, including iPhones, Apple Watches, iPads and Macs for monthly payments—offering a cheaper financing model in the face of rising prices.
The new program says it will offer customers cheaper monthly payments, with an option to enter a new lease for an upgraded device once its term ends.
VCG via Getty Images
Key FactsThe new Apple Upgrade product will allow customers to lease devices for much cheaper monthly payments—customers can now lease iPhones starting at $17.99 per month and Apple Watches for $11.99 per month for 12 or 24 month periods.
Mac computers and iPads will be available to lease for 24 or 36 month terms, with prices starting at $24.99 and $11.99 respectively.
Customers can lower those monthly payments even further if they trade in an existing device when entering a new lease, Apple said.
When the lease ends, customers will have the option to either purchase the device outright or return it and enter a new lease for an upgraded device, according to Klarna.
The new program comes as Apple shuts down its iPhone Upgrade Program, a service that allowed customers to purchase new devices through a loan with 24 monthly payments that were more expensive than the leasing program.
Key BackgroundThe new leasing program comes as Apple continues to raise prices on consumer tech products, most recently announcing price hikes on MacBooks and iPads in June. Analysts are predicting the upcoming iPhone 18 model, which will likely be introduced in September, could be the company’s priciest model yet. Analysis from TechInsights published by the Wall Street Journal predicted the upcoming model could cost as much as $1,299. In June, outgoing Apple CEO Tim Cook told the Wall Street Journal the price increases were related to the rising price of memory, which he compared to a “hundred-year flood.”
Further ReadingForbesApple’s 5% Stock Plunge Erases $275 Billion After MacBook And iPad Price HikesBy Mary Whitfill Roeloffs
ForbesApple Will Increase Prices, Cook Says, But Timeline Still UnclearBy Zachary Folk
Key Takeaways Apple Q3 earnings will test whether its capital-light AI strategy can keep driving gains. iPhone demand, Services growth and AI commentary will be the key earnings catalysts. ETFs like GXPT, FTEC, TOPT and TRUT offer diversified exposure to Apple. Apple Inc. AAPL is set to report fiscal third-quarter 2026 results on July 30, marking Tim Cook's final earnings call as CEO before John Ternus takes over on Sept. 1, 2026. The leadership transition adds significance to an earnings report that is already drawing intense investor attention.
High Expectations Ahead of ResultsThe Zacks Consensus Estimate for Apple’s upcoming quarter’s EPS and revenue is $1.88 and $108.8 billion, marking year-over-year EPS and revenue growth of 19.75% and 15.64%, respectively.
Shares have climbed more than 20% year to date, trading near record highs. Apple shares (up 19.6%) topped the Nasdaq-100 based ETF QQQ (down 5.8%) over the past month (as of July 27, 2026). Roundhill Magnificent Seven ETF (MAGS - Free Report) also has dipped 0.8% over the past month.
Inside Our Surprise PredictionAccording to our methodology, a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) when combined with a positive Earnings ESP, increases the chances of an earnings beat, while companies with a Zacks Rank #4 or 5 (Sell rated) are best avoided. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Apple has a Zacks Rank #3 and an ESP of 2.46%. Note that Apple has exceeded the Zacks Consensus Estimate for earnings in each of the trailing four quarters, with an average surprise of 7.34%.
Disciplined AI Strategy in FocusUnlike cloud giants spending aggressively on AI infrastructure, Apple has maintained a capital-light AI strategy. Apple plans to spend $14 billion on capital expenditures in 2026, while Amazon, Microsoft, Meta and Alphabet plan to spend a combined $650 billion, per a source.
Investors have probably rewarded this disciplined approach lately as concerns over AI spending have pressured peers like Alphabet, Microsoft, Meta and Amazon. Note that Apple's AI strategy focuses on partnerships and third-party technologies rather than investing heavily in proprietary AI infrastructure.
Key Metrics to WatchBeyond AI, investors will closely monitor iPhone demand and Services revenue, Apple's fastest-growing and highest-margin business.
In late June, Apple announced price hikes for MacBooks and iPads, marking its first move to pass higher memory and storage costs on to consumers. The AI push gives Apple another reason to emphasize higher-memory configurations.
IDC expects all new iPhone models to feature 12GB of RAM, as advanced on-device AI features require more memory, according to CNBC. Apple said it has reached a point where price increases on more products have become necessary, signaling further hikes ahead, as quoted on CNBC.
Tarun Pathak, research director at Counterpoint Research, estimated at the time that higher component costs could add roughly $200 per iPhone for Apple, according to the same CNBC source.
Demand for iPhones remains healthy despite supply constraints. Management expects June-quarter revenue growth of 14% to 17% year over year. In the June quarter of 2025, iPhone revenue was $44.6 billion.
This means the company is expected to generate $50.8-$52.2 billion in iPhone sales. Meanwhile, the Services segment is projected to remain a major growth driver, supported by Apple Intelligence and subscription offerings.
Any Wall of Worry?Skeptics argue that Apple's premium valuation—nearly 40 times trailing earnings—sets a very high bar. Any weakness in iPhone demand, softer guidance or signs of slowing growth could trigger profit-taking, even if quarterly results meet expectations. Among the Magnificent Seven stocks, Apple has the highest P/E ratio.
Price TargetBased on short-term price targets offered by 39 analysts, the average price target for Apple comes to $320.61. The forecasts range from a low of $235.00 to a high of $400.00. The average price target represents a decline of 4.8% from the last closing price of $336.91.
Apple-Heavy ETFs in FocusAgainst this backdrop, investors can play Apple through a diversified ETF approach to minimize company-specific concentration risks. This approach allows investors to benefit from any potential rally in Apple shares.
Global X PureCap MSCI Information Technology ETF (GXPT - Free Report) – Apple weight 18.20%
Fidelity MSCI Information Technology Index ETF (FTEC - Free Report) – Apple weight 15.4%
iShares Top 20 U.S. Stocks ETF (TOPT - Free Report) – Apple weight 14.0%
View of an Apple logo at an Apple store in Paris, France, April 23, 2025. REUTERS/Abdul Saboor/File Photo Purchase Licensing Rights, opens new tab
July 28 (Reuters) - Apple's market capitalization briefly surpassed $5 trillion for the first time on Tuesday, making it only the second company ever to achieve that milestone after Nvidia (NVDA.O), opens new tab.
Its shares (AAPL.O), opens new tab were last up 0.2% at $337.7, giving it a market capitalization of $4.96 trillion. At a session high of $342.89, Apple's market value stood at $5.036 trillion.
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The iPhone maker became the most valuable company in the world earlier this month, overtaking chip giant Nvidia (NVDA.O), opens new tab - which had been at the top since June 2025 and was the first company ever to breach the $5 trillion threshold.
For Apple, this year's rally has been driven as much by strong demand for its products as its decision to sit out the AI spending race that is sapping cash flows at Big Tech rivals.
The consumer electronics giant struggled to develop in-house AI models and has instead relied on Google's technology to power new services such as a revamped Siri, avoiding the hefty infrastructure costs that have left Big Tech investors wary of the payoff from surging data-center investments.
Its decision to hold iPhone prices steady last month when it unveiled increases for MacBooks and iPads has also bolstered demand as buyers scooped up the company's flagship device ahead of expected price hikes later this year, analysts have said.
To aid demand, Apple on Tuesday also launched a device leasing program in the U.S. through payments firm Klarna (KLAR.N), opens new tab, under which monthly payments start at $17.99 for an iPhone, $11.99 for an Apple Watch or iPad and $24.99 for a Mac.
"Apple has resisted the AI spending race, betting that customer experience - not infrastructure investment - will ultimately determine the winners," said Dipanjan Chatterjee, vice president and principal analyst at Forrester.
"The new leasing program is a clever response: it doesn't reduce the price of an iPhone, but it changes how consumers perceive the cost by replacing sticker shock with a predictable monthly payment."
Including session gains, Apple stock has jumped 24% so far this year, widely outperforming the other six of the "Magnificent 7" cohort of U.S. technology stocks.
Apple is set to report its third-quarter earnings after the market close on Thursday, with analysts expecting a more than 15% jump in quarterly revenue from a year earlier.
Reporting by Shashwat Chauhan and Aditya Soni in Bengaluru; Editing by Anil D'Silva
Our Standards: The Thomson Reuters Trust Principles., opens new tab
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Apple is getting into the leasing business. Michael M. Santiago/Getty Images Apple has a new way to lower the monthly cost of financing its devices: Don't buy them, lease them.
On Tuesday, the company announced a new program, called Apple Upgrade, in partnership with the buy now, pay later platform Klarna.
It's like a car lease, just for new tech: The new program lets customers lease an iPhone for a monthly payment rather than financing the full purchase price.
It's cheaper for shoppers on a monthly basis: a base iPhone 17e through Apple Upgrade costs $17.99 a month, while financing the same phone to own is $24.95 a month. Shoppers can opt for a one- to two-year lease for iPhones and Apple Watches starting at $11.99 — while Macs and iPads offer a two- or three-year lease. Macs start at $24.99 a month, while iPads start at $11.99 a month.
Monthly pricing quickly rises for top-end models. Leasing an iPhone 17Pro Max with 2TB of storage starts at $58.43 a month.
At the end of the leasing cycle, shoppers can return the tech to Apple or pay the remaining cost to keep the hardware. Apple will either recycle or resell returned devices, depending on their condition.
As part of the new rollout, Apple also said it is discontinuing its $42 a month iPhone Upgrade Program in the US.
Apple Upgrade arrives amid rising hardware prices across tech companies, driven by a global memory crunch. In June, Apple hiked MacBook and iPad prices, including increases of $100 to more than $1,000 depending on the model. It also comes as shoppers are holding onto smartphones for longer. Apple is widely expected to raise iPhone prices in September when it launches its new lineup.
For shoppers considering Apple Upgrade, it's worth considering how often you actually replace your iPhone and whether it's worth adding another monthly payment to your budget. The program may appeal to customers who reliably want a new model every year or two and care more about lowering their monthly payment than owning the device. But people who typically keep their phones for several years may be better served by buying one outright.
Klarna also requires a soft credit check to enroll — and AppleCare coverage are not included in the base prices, so if you want more peace of mind on accidental damage, be prepared to pay more than the listed monthly price.
Read next
Ben Shimkus You're currently following this author! Want to unfollow? Unsubscribe via the link in your email.
Ben Shimkus is a reporter for the Business News desk. He writes about cars, transportation, retail, and jobs. Ben's reporting has appeared in Rolling Stone, The Verge, Automotive News, USA Today, AutoBody News, LGBTQ Nation, TopSpeed, and Out Magazine. He's also held staff writing positions at The U.S. Sun and the Daily Mail. He graduated from NYU with a Master's in journalism in 2024. Email Ben at [email protected] or message him privately on Signal at bshimkus.41.
Apple briefly became only the second publicly traded company in history after Nvidia to cross a $5 trillion market capitalisation on Tuesday, in a reflection of investors' growing preference for technology companies that can deliver earnings growth without committing hundreds of billions of dollars to artificial intelligence infrastructure.
The iPhone maker's AAPL shares rose as much as 1.8% during the session to touch $342.89, giving the company a market value of approximately $5.036 trillion.
The stock later pared gains to trade about 0.6% higher at $338.88, valuing the company at roughly $4.98 trillion.
The milestone came less than a year after Apple first crossed the $4 trillion mark in October 2025 and just one day after it overtook Nvidia to reclaim its position as the world's most valuable publicly traded company.
The achievement was particularly notable because it came on a day when broader technology stocks remained under pressure.
The Nasdaq 100 slipped about 0.8%, while the Philadelphia Semiconductor Index dropped more than 4% as concerns over AI-related financing arrangements and memory-chip competition continued to weigh on investor sentiment.
Unlike many of its biggest technology rivals, Apple has largely avoided the expensive race to build AI data centres, a strategy that is increasingly attracting investors as questions mount over the returns from massive infrastructure spending.
Microsoft, Alphabet, Amazon and Meta have collectively committed hundreds of billions of dollars to AI infrastructure, leading to growing concerns about cash flow pressure and longer payback periods.
Apple, meanwhile, has taken a different approach by relying more heavily on partnerships for artificial intelligence capabilities rather than building every component internally.
After initially struggling to develop its own large AI models, the company has leaned on Google's technology to power services such as its revamped Siri, allowing it to introduce AI features without making the same level of capital commitments as rivals.
That strategy, once viewed as a competitive disadvantage, is now being reassessed by investors.
"There's a battle in the market, and right now Apple is benefiting because it isn't in the storm that the rest of the AI trade is in," Mark Bronzo, chief investment strategist at Rye Strategic Partners, told Bloomberg earlier this month.
"People are concerned about what kind of return hyperscalers could get from their AI spending, and there are also arguments that semis have gotten ahead of themselves. As a result, investors have gravitated back to Apple as a steady-eddy name without those risks."
The rotation has helped Apple significantly outperform its largest technology peers this year.
Apple shares have gained about 25% in 2026, compared with Nvidia's roughly 4% advance.
Meta has fallen about 9%, Amazon has risen about 2%, Alphabet is up roughly 5%, while Microsoft has declined more than 15%.
Apple's recent product strategy has also contributed to investor optimism.
Last month, the company chose to keep iPhone prices unchanged while increasing prices for MacBooks and iPads to accommodate rising memory costs.
This move gave rise to questions of demand getting hit.
JPMorgan analyst Samik Chatterjee, however, recently raised his price target to $345, arguing that previous pricing actions have shown little long-term impact on demand.
"Long-term trends suggest that pricing has limited implications on volume opportunity over a multi-year period," Chatterjee wrote in a July 7 research note.
"Apple has taken meaningful pricing across the portfolio in the past, and volumes have continued to expand despite those price increases."
The company also unveiled a new US device leasing programme through Klarna on Tuesday.
Under the scheme, customers can lease an iPhone from $17.99 per month, an Apple Watch or iPad from $11.99 per month, and a Mac from $24.99 per month.
Analysts believe the programme could make premium Apple devices more accessible without requiring outright price reductions.
"Apple has resisted the AI spending race, betting that customer experience - not infrastructure investment - will ultimately determine the winners," said Dipanjan Chatterjee, vice president and principal analyst at Forrester, in a Reuters report.
"The new leasing program is a clever response: it doesn't reduce the price of an iPhone, but it changes how consumers perceive the cost by replacing sticker shock with a predictable monthly payment."
Wall Street remains optimistic ahead of earningsAnalysts have also become increasingly upbeat ahead of Apple's fiscal third-quarter results later this month.
Citigroup recently reiterated its Buy rating while raising its price target to $365, citing continued market share gains and resilient premium demand.
The brokerage expects Apple to increase iPhone prices during the September launch cycle, particularly for higher-end models, while viewing Apple Intelligence as a longer-term driver for services revenue rather than an immediate catalyst for a major upgrade cycle.
Several other firms, including Bank of America, Evercore ISI, Morgan Stanley, Tigress Financial, Wedbush and HSBC, have also raised their price targets into a range of $330 to $400.
Not everyone is convinced the rally can continue.
KeyBanc maintained its Underweight rating with a $250 price target, arguing that slowing unit growth and softer upgrade cycles could eventually weigh on services revenue.
The brokerage also warned that Apple's valuation has become increasingly demanding.
According to KeyBanc, the stock trades at roughly 37 times its fiscal 2027 earnings estimate, a multiple that leaves little room for operational missteps.
Still, for now, investors appear willing to pay a premium for Apple's combination of consistent earnings growth, resilient consumer demand and a more measured approach to artificial intelligence investment at a time when much of Big Tech is facing growing scrutiny over the costs of the AI race.
Apple is reportedly preparing a major push into the smart home product/software market.
That’s according to a Tuesday (July 28) report from Bloomberg News, which also noted — in a separate article — a key milestone for the iPhone maker: it is now the second company ever whose market capitalization has reached $5 trillion.
Apple plans to launch this effort soon with a hub device designed around the new Siri AI assistant, the report said, citing sources with knowledge of the matter. Those sources said the company is also readying a new TV set-top box and refreshed HomePod mini, which could come between October and early 2027.
Bloomberg notes that these moves will put Apple in closer competition with products like Amazon’s Echo Show and Google’s Nest Hub as the smart home market is reconfigured around artificial intelligence (AI) advances.
Apple debuted the long-awaited Siri AI in June, showcasing an artificial intelligence-powered personal assistant it says can answer questions from the web and surface relevant information from the user’s messages, emails and photos.
“With access to broad world knowledge for up-to-date answers on virtually any topic, along with onscreen awareness and personal context understanding, Siri AI can help users take action across apps more naturally than ever,” Craig Federighi, senior vice president of software engineering at Apple, said in a news release.
As PYMNTS wrote at the time, investors seemed unimpressed with the news, with Apple’s stock dipping about 5% from its afternoon peak, finishing down almost 2% for the day.
The Bloomberg report added that Apple has thus far had trouble deriving revenue from home products, with its eight-year-old HomePod smart speaker and almost two decades old Apple TV set-top box enjoying only modest sales. Most of the company’s wearables, home and accessories division revenue comes from AirPods and Apple Watches.
Meanwhile, Apple achieved a $5 trillion market capitalization Tuesday morning, though that number had dipped below that figure within two hours of Bloomberg’s report. It was the second company ever to achieve that goal after Nvidia, which closed at a record $5.7 trillion in May.
However, the chipmaker has since shed around $1 trillion in valuation, the Bloomberg report said, with Apple now the largest company in the S&P 500 Index.
NEW YORK--(BUSINESS WIRE)--Klarna, the global digital bank and flexible payments provider, today announced it would be the leasing provider behind the Apple Upgrade program, a new hardware leasing option available from Apple in the United States. Lease Apple hardware for low monthly payments Provided by Klarna, Apple Upgrade offers customers a new way to pay for eligible iPhone, Mac, iPad and Apple Watch. Customers can select from 12- and 24-month leasing options for iPhone and Apple Watch, and.
Apple customers in the U.S. will soon be able to lease an iPhone for up to two years at a price starting at $17.99 per month, the company announced on Tuesday.
The program, called Upgrade, is a partnership with Klarna, a provider of buy now, pay later loans, that will be offered at Apple's physical retail stores as well as its online store. After passing a soft credit check, customers will be offered a one- or two-year lease on an iPhone. There will be a similar option for an Apple Watch, or a two- or three-year lease available for Macs and iPads.
The announcement comes a month after Apple, citing the global memory crunch, raised starting iPad and Mac prices by at least $100, with some models increasing by more than $1,000. Analysts expect iPhone price hikes this year and say that leasing lets Apple shift the focus from a higher up-front sticker price to a lower monthly payment.
"Most of Apple's consumers, especially in the U.S. and other developed markets, are buying devices on installment plans or trade-ins, so we can expect to see much more aggressive offers," Nabila Popal, senior research director at IDC, told CNBC in an interview after the company signaled price increases in June.
Apple is looking for new ways to offer iPhones through installment payments, a strategy that investors have long thought can help smooth the seasonality of the business and reduce the company's reliance on hit device cycles for growth. The new program could also encourage customers to replace their devices sooner, with the average iPhone replacement cycle having stretched to nearly four years, according to Bernstein estimates.
As a lease, devices will have to be returned at the end of 24 months. Users can also purchase their phone at that time with an additional payment, or upgrade to a new device. No security deposit is required and, while Klarna won't charge late fees, it will terminate leases after three months of missed payments.
watch now
Prices will vary dramatically, and customers will have to pay more for premium devices. An unlocked iPhone 17 Pro, for example, will cost $31.99 a month for two years, or $45.99 for one year. Some of the company's entry-level devices, such as the iPhone 16 and MacBook Neo, aren't included in the program.
Since the announced hikes in June, analysts have been speculating about higher iPhone prices. Morgan Stanley estimates Apple may need to raise the price of the iPhone 18 Pro by roughly $200 to preserve its gross margin. According to TechInsights, higher memory and other component costs could add as much as $300 to an iPhone's bill of materials, based on a component-level teardown.
Meanwhile, Apple is pushing its product mix further upmarket. Analysts expect a foldable phone to debut alongside the iPhone 18 Pro lineup in September, with some estimates putting its price at around $2,500.
For prospective customers, the new offering with Klarna offers a much cheaper leasing option than what has been available. Through the iPhone Upgrade Program, which includes the AppleCare warranty, users currently pay more than $42 per month in 24 installments, with financing from Citizens Bank. Apple said on Tuesday it discontinued the iPhone Upgrade Program in the U.S. and would transition customers to Apple Upgrade.
With the new plan, Apple will be competing more directly with carriers, which have traditionally used device financing and trade-in subsidies to attract customers and lock them into multiyear wireless plans. AT&T, Verizon and T-Mobile all offer installment plans.
Apple also offers zero-interest financing for its products through a program called Apple Card Monthly Installments. And for users of Apple Pay, short-term loans are currently available from Klarna or rival Affirm.
Apple is scheduled to report third-quarter earnings Thursday. It will be CEO Tim Cook's final earnings report before he transitions to executive chairman of the board.
Investors who followed Jim Cramer’s most frequently recommended stock over the last 90 days and invested $1,000 at the start of 2026 would now have approximately $1,248, based on Apple’s (NASDAQ: AAPL) year-to-date performance.
Data tracking stock recommendations across major market personalities over the past 90 days shows Apple as the most recommended stock, receiving 40 buy recommendations, ahead of Alphabet’s (NASDAQ: GOOGL) 31 and Nvidia’s (NASDAQ: NVDA) 28.
Most recommended stocks by personalities. Source: Quiver Quant Apple shares traded around $270 on January 2, 2026. With the stock trading at $336 as of press time, a $1,000 investment made at the beginning of the year would have grown to about $1,248, representing a gain of roughly 24.8%.
Apple’s strong performance in 2026 has come despite volatility across the broader technology sector and the Magnificent Seven group.
The company has continued to benefit from its ecosystem of hardware, software, and services, with recurring revenue from subscriptions and digital services helping support growth.
Investors have also rewarded Apple’s consistent profitability, strong cash generation, and ability to maintain demand for its premium products.
The rally has pushed Apple’s market capitalization above $4 trillion, reinforcing its position as one of the world’s most valuable publicly traded companies.
Cramer’s bullish stand on AAPL stock Meanwhile, Cramer has repeatedly highlighted Apple as a long-term core holding rather than a stock for short-term trading.
His bullish stance centers on the company’s recurring revenue streams, strong balance sheet, shareholder-friendly capital return programs, and the competitive advantages created by its ecosystem.
Apple has also avoided some of the heavy spending commitments that many technology companies have undertaken in the race to develop artificial intelligence infrastructure.
While concerns around AI features and product innovation have occasionally weighed on sentiment, Apple has continued to attract investor interest through steady execution and expanding high-margin services revenue.
While Apple has been one of Jim Cramer’s more successful long-term calls, his broader track record continues to face scrutiny from investors.
Critics have pointed to several high-profile recommendations that later underperformed, helping fuel the popularity of “inverse Cramer” trading strategies and even exchange-traded products designed to bet against his picks.
Some analyses have suggested that portions of his recommendation history have lagged passive market benchmarks, particularly among smaller or more speculative stocks.
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View of an Apple logo at an Apple store in Paris, France, April 23, 2025. REUTERS/Abdul Saboor/File Photo Purchase Licensing Rights, opens new tab
July 28 (Reuters) - Apple (AAPL.O), opens new tab on Tuesday launched a device leasing program in the U.S. through payments firm Klarna (KLAR.N), opens new tab, offering customers monthly plans for iPhones, Macs, iPads and Apple Watches.
The program, called Apple Upgrade, expands the technology giant's payment options and replaces its existing iPhone Upgrade Program and iPhone Payments offering in the country.
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Customers can lease iPhones and Apple Watches for 12 or 24 months, while Macs and iPads are available under 24- or 36-month plans, Apple said.
Monthly payments start at $17.99 for an iPhone, $11.99 for an Apple Watch or iPad and $24.99 for a Mac.
Applicants will undergo a soft credit check by Klarna that will not affect their credit score, Apple said. Customers can reduce monthly payments by trading in an existing device and earn 3% cash back when paying with an Apple Card.
At the end of the lease, customers can return the device, buy it through a one-time payment or upgrade to a newer model.
Existing members of Apple's iPhone Upgrade Program will be able to move to the new leasing plan when eligible, use Apple Card monthly installments, seek carrier financing or buy a device outright.
The program is available through Apple's website, app and U.S. retail stores.
Reporting by Akash Sriram in Bengaluru; Editing by Shreya Biswas
Our Standards: The Thomson Reuters Trust Principles., opens new tab
Apple (NASDAQ:AAPL | AAPL Price Prediction) enters its July 30 earnings report with eight consecutive EPS beats and its strongest revenue growth in years. The business recently became the most valuable company on Earth, overtaking Nvidia. A new $100 billion buyback, record Services revenue, and management’s outlook for 14% to 17% June-quarter growth give investors 3 clear reasons to watch the stock.
Reason #1: Apple Just Authorized Another $100 Billion Buyback Apple’s board just authorized a fresh $100 billion share repurchase program and lifted the dividend 4% to $0.27 per share. In the March Q2 quarter alone, the company returned $15 billion to shareholders, including $11 billion in buybacks that retired 42 million shares. Since the program’s inception, Apple has returned over $1 trillion to shareholders.
Reason #2: Revenue Growth Is Accelerating Second, growth is accelerating. Q2 FY26 revenue climbed 16.6% year over year to $111.18 billion, with iPhone revenue up 22% on the iPhone 17 launch. Services set another all-time record at $30.98 billion, carrying a 76.7% gross margin against a 2.5 billion-device installed base. This gives Apple a recurring, high-margin income stream investors pay a premium for.
Reason #3: July 30 Q3 Earnings Could Extend the Momentum Third, management guided for this quarter to see 14-17% revenue growth and gross margin of 47.5-48.5%. Prediction markets assign an 81% probability to iPhone revenue clearing $52 billion in this quarter.
The Big Advantage Apple Has Over Alphabet Alphabet’s (NASDAQ:GOOGL) Q2 2026 free cash flow was negative $5.86 billion after capital expenditures hit $44.92 billion, and the company’s stock buyback program was suspended in Q2 2026. Alphabet raised roughly $70 billion in combined debt and equity to fund its AI compute.
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On the other hand, Apple has been able to sit out the massive AI infrastructure spending that many other Mag-7 stocks are participating in. While Alphabet and others issue debt and equity, Apple continues to buy back stock.
China Has Become a Growth Engine Again China remains an important risk, but Apple’s recent results point toward renewed strength rather than deterioration. Greater China revenue reached a record $20.50 billion in the March quarter, rising 28%, while first-half regional growth reached 33%.
Apple now combines accelerating revenue, record high-margin Services sales, and a fresh $100 billion buyback. The July 30 report will show whether that momentum can continue through the June quarter and support another year of substantial shareholder returns.
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Apple is introducing a new leasing program in partnership with the “buy now, pay later” service Klarna, giving eligible customers the option to pay for Apple devices through monthly installments, the tech giant announced on Tuesday. The program is available for the iPhone, Apple Watch, Mac, and iPad on the Apple Store online, in the Apple Store app, and at Apple Store locations in the United States.
Leasing prices start at $17.99 per month for iPhone, $11.99 per month for Apple Watch, $24.99 per month for Mac, and $11.99 per month for iPad. Apple Upgrade offers one- and two-year leasing options for iPhone and Apple Watch, and two- and three-year for Mac and iPad.
At the end of the lease term, customers can upgrade to the latest generation of their device, purchase their current device with a one-time payment, or return it and exit the program, Apple says.
The rollout of the program comes as Apple has been struggling with supply chain issues related to “RAMageddon,” which refers to the industry-wide shortage of memory chips that is driving up the price of hardware. As a result, Apple recently announced price hikes for its Mac and iPad lineups, sparing the iPhone for now. The new Upgrade program seems to be Apple’s answer to making those higher prices more manageable for consumers.
Customers can manage their lease directly in the Klarna app, where they can view their billing schedule and track remaining payments.
With the launch of the new Upgrade program, Apple is discontinuing its existing in-house financing and installment programs in the U.S., which include the iPhone Upgrade Program and iPhone Payments.
The official launch follows a report from Bloomberg’s Mark Gurman last week, which revealed that Apple was preparing to introduce a lease-to-own program for its devices.
Apple says that when customers enroll in Apple Upgrade, they can lower their monthly lease payments by trading in their existing device through its Apple Trade In program. They can also earn 3% Daily Cash back when using Apple Card to make their lease payments.
When you purchase through links in our articles, we may earn a small commission. This doesn’t affect our editorial independence.
Aisha is a consumer news reporter at TechCrunch. Prior to joining the publication in 2021, she was a telecom reporter at MobileSyrup. Aisha holds an honours bachelor’s degree from University of Toronto and a master’s degree in journalism from Western University.
You can contact or verify outreach from Aisha by emailing [email protected] or via encrypted message at aisha_malik.01 on Signal.
At $336.91, Apple (NASDAQ:AAPL | AAPL Price Prediction) faces a stretched valuation setup. The market’s 2026 rally has pushed the multiple to a level three specific fundamentals no longer support. Shares have run 24.16% year to date, while the underlying growth engine has not kept pace.
Apple sells iPhones, Macs, iPads, Wearables, and Services now running at a $30.976 billion quarterly clip. The iPhone 17 lineup drove 22% year over year iPhone growth in the March quarter and briefly pushed the market cap above $4.89 trillion, making it the most valuable company in the world. That rally sets up the problem.
The Bull Case: A Cash Machine Firing on Every Cylinder Apple posted Q2 FY26 revenue of $111.184 billion, up 16.6%, and EPS of $2.01 against a $1.94 consensus. Greater China rebounded to $20.497 billion, growing 28%, which Tim Cook called Apple’s “best March quarter ever”.
Capital returns remain elite. The board authorized a $100 billion buyback and raised the dividend 4% to $0.27. Return on equity sits at 141.5%, and the installed base has crossed 2.5 billion active devices, an annuity that keeps Services compounding.
The Bear Case: Growth Prices for a Mature Business AAPL trades at 40x trailing earnings and 35x forward, against fiscal 2025 revenue growth of only 6.43%. Free cash flow yield sits near 2% and the dividend yields just 0.32%, offering thin margin of safety.
Cook flagged “significantly higher memory costs” for the June quarter. Options traders are hedging: the put/call ratio hits 1.46 at July 31 expiration and 1.23 at August 7. Insider activity across 13 recent transactions is net selling.
The Hold Case: Buybacks and iPhone 18 Could Support the Multiple The $100 billion authorization mechanically supports EPS. Prediction markets place odds of an iPhone 18 launch in 2026 at 97% and a foldable iPhone before 2027 at 89.5%. Either could extend the current cycle.
A CEO handoff to John Ternus arrives effective September 1, adding execution uncertainty. Patience makes sense only if the next iPhone launch reaccelerates hardware and Services holds its 76.7% gross margin.
The Data Working Against the Bulls AAPL trades at $336.91, above the 47-analyst consensus target of $318.81, implying roughly 5.3% downside. The stock has already outrun the Street.
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The analyst breakdown:
Strong Buy: 6 Buy: 22 Hold: 16 Sell: 1 Strong Sell: 2 Year to date, AAPL is up 24.16% against the S&P 500’s 8.38%. That gap is the entire re-rating story, now sitting at 40x earnings with $451.4 billion in trailing revenue growing at high single digits.
The Verdict: Valuation Has Outrun Fundamentals At $336.91, the risk/reward on Apple has skewed unfavorably.
Reason one: a 40x P/E multiple attached to roughly 5% revenue growth. Fiscal 2025 grew 6.43%, and the PEG ratio has climbed to 2.68. Investors are paying a growth premium for a business the fundamentals classify as mature.
Reason two: the hardware replacement cycle bottleneck. iPhone drove $56.994 billion of the March quarter, and the entire thesis rests on upgraders repeating that behavior each fall. Prediction markets assign only 37.5% odds to Q3 iPhone revenue clearing $58 billion, signaling the cycle is peaking.
Reason three: Services growth cannot carry the entire valuation. Services delivered $30.976 billion, but even at a 76.7% gross margin, the segment is roughly 28% of revenue. It cannot justify a $4.9 trillion market cap while hardware decelerates and memory costs bite.
The path to downside runs through the July 30 earnings report, guided at 14% to 17% revenue growth against a 47.5% to 48.5% gross margin, softer than the March quarter’s 49.3%. A miss on China or Mac supply, combined with the September CEO transition, resets multiples fast. The thesis breaks only if the iPhone 18 cycle proves durable enough to lift forward revenue growth into double digits sustainably.
When a mature hardware business trades like a hypergrowth software company after a 24% rally, valuation risk is elevated heading into the print.
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Arbejdsmarkedets Tillaegspension grew its stake in Apple Inc. (NASDAQ:AAPL – Free Report) by 3,759.2% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 100,686 shares of the iPhone maker’s stock after purchasing an additional 98,077 shares during the period. Arbejdsmarkedets Tillaegspension’s holdings in Apple were worth $25,553,000 at the end of the most recent reporting period.
Other large investors have also modified their holdings of the company. Norges Bank acquired a new stake in shares of Apple in the 4th quarter worth $52,266,468,000. Nuveen LLC acquired a new position in shares of Apple during the first quarter worth about $17,472,482,000. Cardano Risk Management B.V. increased its stake 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 acquiring an additional 37,746,784 shares during the period. Laurel Wealth Advisors LLC raised its holdings in 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. raised its holdings in Apple by 1.9% during the fourth quarter. Vanguard Group Inc. now owns 1,426,283,914 shares of the iPhone maker’s stock worth $387,749,545,000 after purchasing an additional 26,856,752 shares in the last quarter. Hedge funds and other institutional investors own 67.73% of the company’s stock.
Insiders Place Their Bets In other news, insider Ben Borders sold 116 shares of the firm’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 transaction, the insider owned 38,713 shares in the company, valued at $11,425,754.82. This trade represents a 0.30% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Company insiders own 0.06% of the company’s stock.
Apple Price Performance Shares of NASDAQ:AAPL opened at $336.91 on Tuesday. The business’s 50 day simple moving average is $307.40 and its 200-day simple moving average is $279.61. The firm has a market capitalization of $4.95 trillion, a price-to-earnings ratio of 40.74, a price-to-earnings-growth ratio of 2.88 and a beta of 1.10. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.07 and a quick ratio of 1.02. Apple Inc. has a 12 month low of $201.50 and a 12 month high of $339.57.
Apple (NASDAQ:AAPL – Get Free Report) last released its quarterly earnings results on Thursday, April 30th. The iPhone maker reported $2.01 earnings per share for the quarter, topping analysts’ consensus estimates of $1.95 by $0.06. Apple had a return on equity of 146.69% and a net margin of 27.15%.The business had revenue of $111.18 billion for the quarter, compared to analysts’ expectations of $109.46 billion. During the same quarter in the prior year, the firm posted $1.65 EPS. The company’s revenue was up 16.6% compared to the same quarter last year. As a group, equities analysts forecast that Apple Inc. will post 8.76 earnings per share for the current fiscal year.
Apple Increases Dividend The company also recently announced a quarterly dividend, which was paid on Thursday, May 14th. Shareholders of record on Monday, May 11th were issued a $0.27 dividend. This represents a $1.08 annualized dividend and a yield of 0.3%. This is a positive change from Apple’s previous quarterly dividend of $0.26. The ex-dividend date of this dividend was Monday, May 11th. Apple’s dividend payout ratio is currently 13.06%.
Apple News Summary Here are the key news stories impacting Apple this week:
Positive Sentiment: Market-cap leadership and momentum: Apple reclaimed the title of the world’s largest company as Nvidia shares declined. The move reinforces investor confidence in Apple’s resilient consumer business and has made AAPL a relative outperformer among major technology stocks. Apple ends day as world’s most valuable company, passing Nvidia Positive Sentiment: Earnings optimism: Apple reports results on July 30, with analysts expecting continued iPhone demand, Services growth, and potentially strong Mac revenue. Goldman Sachs raised its price target and expects performance above consensus on iPhone and Mac sales, while Bank of America anticipates a Services-driven earnings beat. Goldman Raises Apple Stock Price Target Positive Sentiment: Investor positioning: Options activity indicates traders are preparing for a sizable upward move following earnings. The stock has risen about 20% from its late-June low, reflecting elevated expectations for the report and Apple’s product ecosystem. Apple options are doing something unusual into earnings Neutral Sentiment: Future product catalysts: Apple is reportedly emphasizing privacy as it develops smart glasses for a potential 2027 launch, while investors continue to speculate about a foldable iPhone and incoming CEO John Ternus’s ability to drive the next major product cycle. Apple Puts Privacy at Center of Smart Glasses Push Negative Sentiment: AI execution concerns: Investors remain divided over Apple’s comparatively restrained AI spending and strategy, particularly as rivals commit hundreds of billions of dollars to AI infrastructure. A disappointing outlook or evidence that Apple is falling behind could pressure the stock after its strong run. Apple Is Barely Spending on AI Negative Sentiment: Valuation and component-cost risks: At roughly 41 times earnings, Apple has limited room for an earnings miss. Potential tariffs and higher memory-chip prices could increase iPhone production costs and compress hardware margins, although Apple is reportedly seeking permission to use Chinese memory components in international devices. Apple stock and memory-cost analysis Wall Street Analysts Forecast Growth AAPL has been the topic of a number of analyst reports. Wells Fargo & Company reaffirmed an “overweight” rating and issued a $310.00 price objective (up from $300.00) on shares of Apple in a report on Friday, May 1st. Weiss Ratings reissued a “buy (b-)” rating on shares of Apple in a report on Wednesday, July 15th. Bank of America restated a “buy” rating and issued a $380.00 price target on shares of Apple in a research note on Thursday, June 18th. Robert W. Baird increased their price objective on Apple from $310.00 to $330.00 and gave the stock an “outperform” rating in a research report on Friday. Finally, Oppenheimer reiterated a “market perform” rating on shares of Apple in a research report on Tuesday, June 9th. One investment analyst has rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating, nine 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 an average price target of $327.40.
View Our Latest Stock Report on AAPL
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 AirJoule’s Kubota Deal Is a Major Validation—But the Hard Part Comes Next Dividend Stocks May Be the Quiet Rotation Trade Investors Are Missing Now Refiner Stocks Are Near Record Highs—Can Iran-Driven Margins Keep Them There? Verizon May Be an AI Infrastructure Stock Hiding in Plain Sight 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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We're thick into earnings season, and one of the biggest stocks on the planet is reporting on Thursday. Apple (AAPL +1.19%) will report its fiscal third-quarter results shortly after the market closes, with its earnings call to follow an hour later.
Stocks tend to move on earnings news, and Apple is no exception. But that doesn't mean you should buy ahead of Apple's telltale financial update. A lot can still go wrong, and if you're investing for the long haul, an impulsive short-term decision isn't necessary. However, if you were planning to pick up a piece of the class act of Cupertino this week, deciding whether to buy before or after Thursday afternoon's report is pretty important. Let's go over the bull and bear case to see if you might want to become an Apple investor -- or increase your exposure -- before the market closes on July 30.
Image source: Getty Images.
The case to buy Momentum is on Apple's side. Revenue growth is accelerating for the third fiscal year in a row. The 17% top-line jump it posted in its latest quarter is its strongest increase since the fiscal fourth quarter of 2021. Diluted earnings per share rose even faster, climbing 22% for the three-month period ending in late March.
Apple delivered double-digit growth across all its geographic territories. Its high-margin services revenue scored a new high. The iPhone 17 line continues to sell well, and the launch of the entry-level MacBook Neo has been well received without undercutting the aspirational nature of the Apple brand.
Analysts see a similar scenario playing out for this week's big reveal. They are targeting 16% revenue growth and a 20% bump in the bottom line. That could be better, and it probably will be better on the bottom line. Apple has landed 3% to 10% above Wall Street profit targets in every quarter over the past year.
Apple stock hit a new all-time high on Monday and has soared 58% over the past year. Yet despite the rising share price, Apple's board authorized an additional $100 billion in buybacks earlier this year. It believes the upside remains. Betting on winners is a sound strategy, but it's not perfect.
Today's Change
(
1.19
%) $
3.97
Current Price
$
336.99
The case to not buy I've owned Apple long enough for it to be a 14-bagger in my portfolio, but I'm not a buyer this week. I'm impressed by Apple's ability to post a nearly five-year high in revenue growth in this climate of inflationary fears, geopolitical concerns, and tariff-wielding.
I've also been a student of Apple long enough to know the cyclical trap of enthusiasm. Apple is posting double-digit growth again, but how long will it last? What do you see when you run down Apple's revenue growth since Steve Jobs passed away in 2011?
2012: 45% 2013: 9% 2014: 7% 2015: 28% 2016: -8% 2017: 6% 2018: 16% 2019: -2% 2020: 6% 2021: 33% 2022: 8% 2023: -3% 2024: 2% 2025: 6% Revenue may be a lock to rise at a double-digit pace this year, but there hasn't been a sequel in the past 14 fiscal years. It could be different this time, but success has been fleeting in the post-Jobs era.
The stock's market-thumping momentum over the past year makes the valuation argument harder to make. Apple is now trading for 35 times next fiscal year's profit target. The consumer tech bellwether is still a rock star, but the downside seems greater than the upside following Thursday's financial update.
Apple Inc. (NASDAQ:AAPL – Get Free Report)’s stock price reached a new 52-week high on Monday after Robert W. Baird raised their price target on the stock from $310.00 to $330.00. Robert W. Baird currently has an outperform rating on the stock. Apple traded as high as $337.12 and last traded at $335.59, with a volume of 4545007 shares trading hands. The stock had previously closed at $333.02.
Several other analysts also recently issued reports on AAPL. Tigress Financial restated a “strong-buy” rating and set a $375.00 price objective (up from $305.00) on shares of Apple in a report on Thursday, May 14th. Evercore reiterated an “outperform” rating on shares of Apple in a report on Wednesday, July 8th. Barclays reissued an “underweight” rating on shares of Apple in a research report on Tuesday, June 9th. KeyCorp lowered shares of Apple from a “sector weight” rating to an “underweight” rating and set a $250.00 price target on the stock. in a report on Tuesday, July 14th. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of Apple in a research report on Wednesday, July 15th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating, nine have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $327.40.
Get Our Latest Analysis on Apple
Insider Transactions at Apple In related news, insider Ben Borders sold 116 shares of the 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 completion of the sale, the insider directly owned 38,713 shares of the company’s stock, valued at approximately $11,425,754.82. This represents a 0.30% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Corporate insiders own 0.06% of the company’s stock.
Key Headlines Impacting Apple Here are the key news stories impacting Apple this week:
Positive Sentiment: Market-cap leadership and momentum: Apple reclaimed the title of the world’s largest company as Nvidia shares declined. The move reinforces investor confidence in Apple’s resilient consumer business and has made AAPL a relative outperformer among major technology stocks. Apple ends day as world’s most valuable company, passing Nvidia Positive Sentiment: Earnings optimism: Apple reports results on July 30, with analysts expecting continued iPhone demand, Services growth, and potentially strong Mac revenue. Goldman Sachs raised its price target and expects performance above consensus on iPhone and Mac sales, while Bank of America anticipates a Services-driven earnings beat. Goldman Raises Apple Stock Price Target Positive Sentiment: Investor positioning: Options activity indicates traders are preparing for a sizable upward move following earnings. The stock has risen about 20% from its late-June low, reflecting elevated expectations for the report and Apple’s product ecosystem. Apple options are doing something unusual into earnings Neutral Sentiment: Future product catalysts: Apple is reportedly emphasizing privacy as it develops smart glasses for a potential 2027 launch, while investors continue to speculate about a foldable iPhone and incoming CEO John Ternus’s ability to drive the next major product cycle. Apple Puts Privacy at Center of Smart Glasses Push Negative Sentiment: AI execution concerns: Investors remain divided over Apple’s comparatively restrained AI spending and strategy, particularly as rivals commit hundreds of billions of dollars to AI infrastructure. A disappointing outlook or evidence that Apple is falling behind could pressure the stock after its strong run. Apple Is Barely Spending on AI Negative Sentiment: Valuation and component-cost risks: At roughly 41 times earnings, Apple has limited room for an earnings miss. Potential tariffs and higher memory-chip prices could increase iPhone production costs and compress hardware margins, although Apple is reportedly seeking permission to use Chinese memory components in international devices. Apple stock and memory-cost analysis Hedge Funds Weigh In On Apple A number of large investors have recently made changes to their positions in the business. Lifetime Wealth Management P.C. purchased a new position in shares of Apple during the 4th quarter valued at $41,000. ROSS JOHNSON & Associates LLC raised its holdings in shares of Apple by 1,800.0% during the first quarter. ROSS JOHNSON & Associates LLC now owns 190 shares of the iPhone maker’s stock worth $42,000 after acquiring an additional 180 shares in the last quarter. LSV Asset Management purchased a new stake in shares of Apple during the fourth quarter worth $65,000. Timmons Wealth Management LLC acquired a new stake in Apple during the fourth quarter valued at $69,000. Finally, Inspire Investing LLC acquired a new stake in Apple during the fourth quarter valued at $76,000. Institutional investors and hedge funds own 67.73% of the company’s stock.
Apple Stock Up 1.2% The business has a 50 day simple moving average of $307.40 and a 200 day simple moving average of $279.61. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.07 and a quick ratio of 1.02. The stock has a market cap of $4.95 trillion, a PE ratio of 40.74, a P/E/G ratio of 2.88 and a beta of 1.10.
Apple (NASDAQ:AAPL – Get Free Report) last issued its earnings results on Thursday, April 30th. The iPhone maker reported $2.01 earnings per share for the quarter, topping the consensus estimate of $1.95 by $0.06. Apple had a return on equity of 146.69% and a net margin of 27.15%.The company had revenue of $111.18 billion for the quarter, compared to analyst estimates of $109.46 billion. During the same period in the prior year, the firm posted $1.65 EPS. The business’s revenue was up 16.6% compared to the same quarter last year. On average, equities research analysts forecast that Apple Inc. will post 8.76 EPS for the current fiscal year.
Apple Increases Dividend The company also recently declared a quarterly dividend, which was paid on Thursday, May 14th. Investors of record on Monday, May 11th were paid a $0.27 dividend. This represents a $1.08 annualized dividend and a dividend yield of 0.3%. The ex-dividend date of this dividend was Monday, May 11th. This is a positive change from Apple’s previous quarterly dividend of $0.26. Apple’s dividend payout ratio (DPR) is presently 13.06%.
About Apple (Get 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.
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Apple Inc. (NASDAQ:AAPL – Get Free Report) was up 1.2% during mid-day trading on Monday after Robert W. Baird raised their price target on the stock from $310.00 to $330.00. Robert W. Baird currently has an outperform rating on the stock. Apple traded as high as $339.57 and last traded at $336.91. 49,251,266 shares changed hands during mid-day trading, a decline of 2% from the average session volume of 50,291,961 shares. The stock had previously closed at $333.02.
Several other analysts also recently commented on the company. Rosenblatt Securities reiterated a “neutral” rating and set a $276.00 target price on shares of Apple in a research note on Tuesday, June 9th. Morgan Stanley set a $364.00 price target on Apple and gave the company an “overweight” rating in a report on Thursday. Sanford C. Bernstein reaffirmed an “outperform” rating on shares of Apple in a research report on Monday, June 8th. Wedbush reissued an “outperform” rating and issued a $400.00 target price on shares of Apple in a research report on Friday, June 5th. Finally, Royal Bank Of Canada set a $365.00 target price on shares of Apple in a research note on Wednesday, July 15th. One investment analyst has rated the stock with a Strong Buy rating, twenty-three have given a Buy rating, nine have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $327.40.
View Our Latest Research Report on AAPL
Insider Buying and Selling at Apple In related news, insider Ben Borders sold 1,274 shares of the business’s stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $290.00, for a total transaction of $369,460.00. Following the completion of the sale, the insider directly owned 38,713 shares in the company, valued at approximately $11,226,770. The trade was a 3.19% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.06% of the stock is owned by company insiders.
Key Apple News Here are the key news stories impacting Apple this week:
Positive Sentiment: Market-cap leadership and momentum: Apple reclaimed the title of the world’s largest company as Nvidia shares declined. The move reinforces investor confidence in Apple’s resilient consumer business and has made AAPL a relative outperformer among major technology stocks. Apple ends day as world’s most valuable company, passing Nvidia Positive Sentiment: Earnings optimism: Apple reports results on July 30, with analysts expecting continued iPhone demand, Services growth, and potentially strong Mac revenue. Goldman Sachs raised its price target and expects performance above consensus on iPhone and Mac sales, while Bank of America anticipates a Services-driven earnings beat. Goldman Raises Apple Stock Price Target Positive Sentiment: Investor positioning: Options activity indicates traders are preparing for a sizable upward move following earnings. The stock has risen about 20% from its late-June low, reflecting elevated expectations for the report and Apple’s product ecosystem. Apple options are doing something unusual into earnings Neutral Sentiment: Future product catalysts: Apple is reportedly emphasizing privacy as it develops smart glasses for a potential 2027 launch, while investors continue to speculate about a foldable iPhone and incoming CEO John Ternus’s ability to drive the next major product cycle. Apple Puts Privacy at Center of Smart Glasses Push Negative Sentiment: AI execution concerns: Investors remain divided over Apple’s comparatively restrained AI spending and strategy, particularly as rivals commit hundreds of billions of dollars to AI infrastructure. A disappointing outlook or evidence that Apple is falling behind could pressure the stock after its strong run. Apple Is Barely Spending on AI Negative Sentiment: Valuation and component-cost risks: At roughly 41 times earnings, Apple has limited room for an earnings miss. Potential tariffs and higher memory-chip prices could increase iPhone production costs and compress hardware margins, although Apple is reportedly seeking permission to use Chinese memory components in international devices. Apple stock and memory-cost analysis Hedge Funds Weigh In On Apple A number of institutional investors have recently bought and sold shares of AAPL. Overbrook Management Corp raised its stake in Apple by 57.4% during the 4th quarter. Overbrook Management Corp now owns 104,648 shares of the iPhone maker’s stock valued at $28,449,000 after purchasing an additional 38,174 shares during the period. Rainier Family Wealth Inc. raised its position in shares of Apple by 14.1% during the first quarter. Rainier Family Wealth Inc. now owns 24,386 shares of the iPhone maker’s stock valued at $6,189,000 after buying an additional 3,014 shares during the last quarter. Torren Management LLC purchased a new position in shares of Apple in the fourth quarter worth $1,178,000. Summit Wealth Partners LLC lifted its holdings in shares of Apple by 108.3% in the first quarter. Summit Wealth Partners LLC now owns 34,989 shares of the iPhone maker’s stock worth $8,880,000 after buying an additional 18,188 shares in the last quarter. Finally, Adventist Health System Sunbelt Healthcare Corp bought a new position in shares of Apple during the fourth quarter worth $105,482,000. 67.73% of the stock is owned by institutional investors.
Apple Stock Up 1.2% The company has a market capitalization of $4.95 trillion, a PE ratio of 40.74, a PEG ratio of 2.88 and a beta of 1.10. The company’s 50 day moving average is $307.40 and its two-hundred day moving average is $279.61. The company has a quick ratio of 1.02, a current ratio of 1.07 and a debt-to-equity ratio of 0.70.
Apple (NASDAQ:AAPL – Get Free Report) last announced its quarterly earnings results on Thursday, April 30th. The iPhone maker reported $2.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.95 by $0.06. The company had revenue of $111.18 billion for the quarter, compared to the consensus estimate of $109.46 billion. Apple had a net margin of 27.15% and a return on equity of 146.69%. Apple’s revenue for the quarter was up 16.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.65 EPS. On average, analysts anticipate that Apple Inc. will post 8.76 earnings per share for the current year.
Apple Increases Dividend The company also recently announced a quarterly dividend, which was paid on Thursday, May 14th. Stockholders of record on Monday, May 11th were issued a $0.27 dividend. This represents a $1.08 annualized dividend and a dividend yield of 0.3%. This is a positive change from Apple’s previous quarterly dividend of $0.26. The ex-dividend date of this dividend was Monday, May 11th. Apple’s payout ratio is presently 13.06%.
About Apple (Get 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.
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Item 1 of 2 Apple's CEO Tim Cook and Senior Vice President Hardware Engineering John Ternus attend the premiere of season four of the Apple TV series "Ted Lasso" at the Academy Museum in Los Angeles, California, U.S., July 27, 2026. REUTERS/David Swanson
[1/2]Apple's CEO Tim Cook and Senior Vice President Hardware Engineering John Ternus attend the premiere of season four of the Apple TV series "Ted Lasso" at the Academy Museum in Los Angeles,... Purchase Licensing Rights, opens new tab Read more
SummaryCompaniesJohn Ternus takes over as Apple CEO in SeptemberApple began offering original TV series and films through Apple TV in 2019Ternus and current CEO Tim Cook spoke at premiere for new season of 'Ted Lasso'LOS ANGELES, July 27 (Reuters) - Apple's (AAPL.O), opens new tab incoming CEO, hardware chief John Ternus, said he was committed to building on the company's momentum in the entertainment business when he takes the helm of the iPhone maker in September.
The technology giant began offering original TV series and films through the Apple TV+ streaming app in 2019. The company found success with Oscar best picture winner "CODA," box-office blockbuster "F1" and Emmy-winning shows such as "The Studio" and "Ted Lasso."
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Last year, Apple dropped the plus sign and renamed the service Apple TV.
"I think we have such tremendous momentum right now in Apple TV," Ternus told Reuters on the red carpet at the premiere of the fourth season of "Ted Lasso."
"There's so many amazing shows, so many amazing characters and stories, and so we're just going to keep building on the momentum."
Ternus stood next to current CEO Tim Cook, who said he is sharing his insights about the entertainment business as part of the leadership transition.
"Our role is to be the best. That's our lane," Cook said of Apple's entertainment strategy. "We're not about the most. There are ... other companies that do that. But we're about the best, and I feel like we really hit our stride in providing that."
Cook said Apple was open to future partnerships in the entertainment realm if the company feels it can bring a particular expertise. He pointed to the arrangement with the Formula 1 racing league.
For the Brad Pitt movie "F1," Apple built custom cameras to help make audiences feel like they were inside a race car. F1 races are now shown exclusively on Apple TV in the United States, and the company provides leaderboards, updates and other coverage on Apple News and other apps.
"We'll do things that we can bring something unique to, where we can innovate in a way that others might not be able to," Cook said. "I feel like we're really doing that with F1. We're so excited about how we're doing there and the viewership numbers that we're getting. So more things like that would be possible."
Last month, senior Apple executive Eddy Cue told Reuters the company's goal was to offer "better and more" TV shows and movies on streaming and in cinemas.
Reporting by Rollo Ross; Writing by Lisa Richwine
Our Standards: The Thomson Reuters Trust Principles., opens new tab
Začal nejrušnější týden výsledkové sezóny, během kterého zveřejní hospodářské výsledky 158 firem z indexu S&P 500. Dnes odstartuje Coca-Cola, nejdůležitější čísla však přijdou ve středu a ve čtvrtek, kdy výsledky za druhé čtvrtletí představí giganti jako Apple, Amazon, Microsoft nebo Meta.
Dnes před začátkem obchodování by měla podle odhadů analytiků oslovených agenturou Bloomberg Coca-Cola vykázat zisk na akcii 0,93 dolaru a organický růst tržeb kolem 3,6 %. Hlavním tématem výsledků bude kybernetický útok, který dočasně narušil výrobu mlékárenské divize Fairlife, a jeho dopady na provoz společnosti.
Kromě Coca-Coly zveřejní v úterý před otevřením trhu výsledky také Boeing a PayPal. Od Boeingu se očekává ztráta na akcii ve výši 0,28 dolaru a záporné volné cash flow ve výši 331 milionů dolarů.
Po uzavření středečního obchodování se pozornost investorů přesune k velkým technologickým firmám, které navážou na výsledky Alphabetu z minulého týdne. Mateřská společnost Googlu sice vykázala silný růst zisku podpořený investicemi do společností jako SpaceX a Anthropic, zároveň však reportovala záporné volné cash flow a další navýšení CAPEXu, což část investorů znervóznilo (více zde).
Lze proto očekávat, že právě vývoj CAPEXu a cash flow bude jedním z hlavních témat také u Microsoftu, Mety a Amazonu. Od Microsoftu se očekává zisk na akcii 4,25 dolaru a meziroční růst tržeb o více než 13 % na 87,7 miliardy dolarů. CAPEX by podle odhadů měl dosáhnout 42 miliard dolarů a upravené volné cash flow 14,7 miliardy dolarů. Analytik Morgan Stanley Adam Wood očekává, že výsledky podpoří další růst cloudové platformy Azure i monetizace nástrojů Copilot.
V případě Meta Platforms analytici předpokládají růst tržeb o 25 % a zisk na akcii 7,14 dolaru. Klíčové bude sledovat, jak se firmě daří monetizovat AI produkty napříč její rozsáhlou uživatelskou základnou. Současně se očekává další navýšení letošního výhledu CAPEXu, které odráží rostoucí náklady na AI infrastrukturu. Jen za druhé čtvrtletí by investice měly dosáhnout přibližně 33 miliard dolarů, což odpovídá více než polovině očekávaných tržeb. Analytici zároveň očekávají záporné volné cash flow ve výši 1,2 miliardy dolarů.
Čtvrteční večer pak přinese výsledky Amazonu a Applu. U Amazonu investoři očekávají další silný růst cloudové divize AWS, jejíž tržby by měly vzrůst o více než 30 %. Optimismus panuje také v oblasti reklamy a e-commerce. Celkové tržby by měly dosáhnout přibližně 197 miliard dolarů a růst nejrychlejším tempem za posledních pět let. Zisk na akcii se očekává kolem 1,82 dolaru. V centru pozornosti bude opět CAPEX, který by měl přesáhnout 48 miliard dolarů.
Přestože se Apple AI investičního závodu neúčastní tak agresivně jako ostatní technologičtí giganti, i zde se očekává zvýšení investic. Pro rok 2027 by měly dosáhnout přibližně 18 miliard dolarů, což je však stále výrazně méně než u výše zmíněných společností. Celkově se od Applu očekává silný kvartál. Výsledky by měla podpořit vysoká poptávka po iPhonech a stabilní růst segmentu služeb, jehož tržby by měly dosáhnout přibližně 31 miliard dolarů. Celkové tržby za uplynulé čtvrtletí by měly činit téměř 109 miliard dolarů a zisk na akcii se očekává kolem 1,88 dolaru. Negativním faktorem zůstává růst cen pamětí, který zvyšuje výrobní náklady i konečné ceny produktů společnosti.
When Apple launches its leasing offering, Apple Upgrade, on Tuesday (July 28), the company will wind down its iPhone Upgrade Program, Bloomberg reported Sunday (July 26).
Apple will stop accepting new enrollments to the iPhone Upgrade Program but will allow those who are already in the program to continue it “for the time being,” the report said.
Compared to the iPhone Upgrade Program, Apple Upgrade will not include AppleCare; will be a leasing program rather than a financing program; and will be backed by Klarna rather than Citizens Bank, according to the report.
It was reported July 21 that the soon-to-be-launched leasing program will be one of the largest-ever changes to how Apple sells its products.
The program will support most iPhone, Mac, iPad and Apple Watch models, and Klarna will serve as Apple Upgrade’s financial backer, according to the report.
The report said Apple Upgrade will work like a subscription. Users will be able to pay off devices early in their term, upgrade earlier to newer models, or keep the original device until the leasing period ends. As with a car lease, the device could be returned when the term is up.
Apple aims to promote the program as a way to have lower payments than what current financing programs offer. While the company did not include the iPhone in a recent round of price increases, it is widely expected to raise the cost of the device when the latest model debuts in September, per the report.
Digitaltrends reported Sunday that the new Apple Upgrade program will launch first in the United States and will offer 24-month leases on eligible iPhones and Apple Watches and 36-month leases on Macs and iPads.
It was reported in December 2024 that Apple stopped its development of an iPhone hardware subscription program after running into software bugs and concerns about potential regulatory scrutiny.
Earlier in 2024, Apple shut down its buy now, pay later (BNPL) offering because of stricter regulations announced by the Consumer Financial Protection Bureau. The company began promoting third-party BNPL programs offered by Affirm and Klarna instead.
