Track market-moving stories before they get noisy

Apple just posted its strongest June quarter ever, yet Wall Street has set a price target below where the stock trades today. Something does not add up, and the path to $450 per share is either a stretch case or…

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Apple just delivered its strongest June quarter ever, posting $109.42 billion in revenue with double-digit growth across iPhone, Mac, and Services. Yet Apple (NASDAQ:AAPL | AAPL Price Prediction) is up a healthy 20.45% year to date, and the ten-year chart tells an even louder story: a 1,254.49% gain that turned every $1,000 into more than $13,000.

So here is the question I want to answer plainly. Can AAPL reach $450 per share by the end of 2027?

What’s Holding Apple Back Right Now The stock has done well, but the near term is choppy. Shares are down 0.5% over the past week even after a 7.1% one-month move. The overhang is real. On the Q3 call, Tim Cook described current DRAM conditions as “a 100-year flood on the memory pricing with exponential increases in memory prices”, and Apple guided September-quarter gross margin to 47% to 48%, down from 50.1% in Q3.

Management also warned that supply constraints will increase significantly and hit iPhone, Mac, and iPad. Add tariff overhang, foreign exchange, and App Store litigation, and you can see why a beta of 1.085 stock has not run away from its $344.27 52-week high.

Wall Street Sees 0.8% Downside. Our Model Says 11.2% Upside Consensus is oddly cautious. The analyst target price is $323.86, which actually sits below today’s $326.57. The rating split is 6 strong buy, 19 buy, 14 hold, 3 sell, and 2 strong sell, with 57% bullish. Our own model puts the base case at $363.13, an 11.2% upside with high confidence of 0.9, and a bull scenario of $379.46.

I think the sell side is anchored on memory pain and missing the earnings acceleration. Quarterly earnings growth of 28.7% year over year is not the profile of a stock that deserves a target below spot.

Path to $450 Per Share Reaching $450 from today’s price of $326.57 would require a gain of 37.8%. With forward EPS of $9.86, a price of $450 implies a forward P/E of 46x. Our base case of $363.13 already implies 37x, meaning the bold target requires roughly 8x of additional multiple expansion.

That is a lot. But here is the case. Apple’s 247Factor adjustment of 1.128 is powered by strong earnings acceleration and a sector multiplier of 1.15. EPS should compress that 46x quickly if fiscal 2027 consensus of $9.57 continues to grind higher on Siri AI monetization.

Cook told investors “There are enormous opportunities for Apple moving forward in AI”, and he flagged “I truly have never been more optimistic”.

iPhone 17 demand is exceeding Apple’s own expectations, Services just posted $30.74 billion, and 1.5 billion paid subscriptions compound quietly. The primary risk is that memory pricing lingers into calendar 2027 and crimps margins longer than the Street expects.

Where Apple Trades Today vs Its Earnings Power At $326.57, Apple trades at roughly 33x forward EPS of $9.86, versus a trailing P/E of 36. That looks reasonable against 28.7% quarterly earnings growth and a 32.6% operating margin.

Shares sit only 6% off the $344.27 52-week high and well above the $228.18 low. Given a 1,254.49% ten-year return and Services still compounding, the valuation is defensible for a stretch case.

Is $450 Realistic? My Verdict Getting to $450 from $326.57 requires a gain of 37.8%. That is a stretch.

Three things need to break right: Siri AI must translate into a real Services upgrade cycle, iPhone 17 and 18 momentum must carry through fiscal 2027, and memory pricing must normalize by mid-2027 so gross margin rebuilds toward 50%.

What derails it is a prolonged DRAM squeeze that resets the earnings ramp. Returns at this level shouldn’t be expected every year, but we’ve outlined the blueprint for how Apple could reach $450 in 2027.

Contact [email protected] for any questions or corrections.

Spending time with the iPhone Duo and iPhone 18 Pro has Bridget Carey rethinking what's important in an iPhone upgrade. She breaks down the standout Duo features, what the crease is really like, and the questions she has for the future of Apple Watch and the next era of Apple.

Lountzis Asset Management LLC boosted its stake in shares of Apple Inc. (NASDAQ:AAPL – Free Report) by 94.8% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,329 shares of the iPhone maker’s stock after acquiring an additional 1,620 shares during the quarter. Apple accounts for 0.3% of Lountzis Asset Management LLC’s holdings, making the stock its 24th largest position. Lountzis Asset Management LLC’s holdings in Apple were worth $964,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently bought and sold shares of AAPL. Lifetime Wealth Management P.C. acquired a new position in shares of Apple in the 4th quarter valued at $41,000. ROSS JOHNSON & Associates LLC grew its position in Apple by 1,800.0% during the first quarter. ROSS JOHNSON & Associates LLC now owns 190 shares of the iPhone maker’s stock valued at $42,000 after buying an additional 180 shares during the period. LSV Asset Management acquired a new stake in Apple during the fourth quarter valued at $65,000. Timmons Wealth Management LLC purchased a new position in Apple in the fourth quarter valued at $69,000. Finally, Inspire Investing LLC purchased a new position in Apple in the fourth quarter valued at $76,000. 67.73% of the stock is owned by institutional investors and hedge funds.

Insider Activity In other Apple news, insider Ben Borders sold 116 shares of the business’s stock in a transaction dated Tuesday, June 16th. The shares were sold at an average price of $295.14, for a total value of $34,236.24. Following the transaction, the insider directly owned 38,713 shares in the company, valued at $11,425,754.82. The trade was a 0.30% decrease in their position. The transaction was disclosed in a document filed 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. Also, SVP Jennifer Newstead sold 1,438 shares of the stock in a transaction that occurred on Tuesday, September 8th. The shares were sold at an average price of $317.23, for a total transaction of $456,176.74. Following the completion of the sale, the senior vice president directly owned 34,352 shares of the company’s stock, valued at approximately $10,897,484.96. This trade represents a 4.02% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 7,310 shares of company stock valued at $2,279,378. 0.06% of the stock is owned by company insiders.

Analyst Ratings Changes Several equities research analysts have recently issued reports on AAPL shares. UBS Group reissued a “neutral” rating on shares of Apple in a research note on Thursday. Weiss Ratings upgraded Apple from a “buy (b-)” rating to a “buy (b)” rating in a research note on Monday, August 3rd. Wells Fargo & Company reaffirmed an “overweight” rating and issued a $350.00 price target (up from $310.00) on shares of Apple in a report on Friday, July 31st. Raymond James Financial reiterated a “market perform” rating on shares of Apple in a research report on Friday, July 31st. Finally, BTIG Research began coverage on Apple in a report on Monday, August 17th. They issued a “neutral” rating on the stock. One equities research analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, twelve have issued a Hold rating and four have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $334.91. Check Out Our Latest Stock Report on Apple

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

Positive Sentiment: iPhone Duo creates a potential new growth cycle. Apple unveiled its first foldable smartphone, the $1,999 iPhone Duo, which is scheduled to reach stores October 23. Analysts believe the device could stimulate upgrades, expand ecosystem engagement and add a significant premium-revenue stream. Some bullish estimates suggest foldables could eventually represent 10% to 20% of iPhone revenue. How Wall Street viewed Apple’s foldable iPhone Positive Sentiment: Investors viewed the launch as evidence of renewed hardware innovation under CEO John Ternus. Alongside the Duo, Apple introduced the iPhone 18 Pro models, new Apple Watches, AirPods 5 and expanded Siri AI features. TD Cowen maintained a Buy rating with a $400 price target, while Citi and other analysts also remained constructive. TD Cowen reiterates Buy rating Positive Sentiment: Carrier promotions may improve affordability. T-Mobile, AT&T and Verizon are introducing installment and trade-in offers for the expensive Duo, potentially reducing sticker-price resistance without triggering an industrywide price war. Wireless carrier promotions Neutral Sentiment: Wall Street remains divided. Bank of America kept its Buy rating but reduced its price target to $370, citing an earnings tradeoff, while Rosenblatt retained a $303 Neutral target. The key questions are demand, supply constraints and whether premium pricing offsets higher component costs. Negative Sentiment: Margin pressure is a major risk. Apple raised iPhone Pro prices by $100, but memory and other component costs are rising rapidly. Analysts warn that the price increases may not fully protect profitability, particularly during the initial foldable launch period. Negative Sentiment: China presents a tougher competitive backdrop. Apple’s new CEO faces stronger local rivals, including Huawei, and uncertainty over whether the Duo can regain momentum in China. The broader market also faced pressure from surging oil prices and Treasury yields, increasing the risk of multiple compression. Negative Sentiment: Insider selling adds a modest cautionary signal. SVP Jennifer Newstead sold 1,438 shares for approximately $456,000, reducing her direct ownership by about 4%, though she continues to hold a substantial position. Apple Stock Performance NASDAQ AAPL opened at $326.57 on Friday. The stock’s fifty day moving average is $317.73 and its two-hundred day moving average is $292.17. The firm has a market capitalization of $4.77 trillion, a P/E ratio of 37.45, a price-to-earnings-growth ratio of 2.73 and a beta of 1.08. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.93 and a current ratio of 1.00. Apple Inc. has a fifty-two week low of $226.65 and a fifty-two week high of $344.57.

Apple (NASDAQ:AAPL – Get Free Report) last issued its earnings results on Thursday, July 30th. The iPhone maker reported $2.02 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.89 by $0.13. Apple had a return on equity of 135.46% and a net margin of 27.62%.The company had revenue of $109.42 billion during the quarter, compared to analysts’ expectations of $109.04 billion. During the same period in the prior year, the business earned $1.57 EPS. The firm’s quarterly revenue was up 16.4% on a year-over-year basis. On average, research analysts anticipate that Apple Inc. will post 8.74 earnings per share for the current year.

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

About Apple (Free Report)

Apple Inc is a technology company that designs, develops and markets consumer electronics, software and digital services. Its principal products include the iPhone, Mac computers, iPad tablets, Apple Watch, AirPods and other accessories. The company also develops operating systems and applications that support its hardware products.

Apple’s services business includes the App Store, Apple Music, Apple TV, Apple Arcade, Apple Fitness+, Apple News+, Apple Pay and iCloud. These services provide digital content, payments, cloud storage and subscription offerings across the company’s ecosystem of devices.

Founded in 1976, Apple is headquartered in Cupertino, California, and serves consumers, businesses, educational institutions and government customers worldwide.

Featured Stories Five stocks we like better than Apple AeroVironment’s Record Backlog and Earnings Beat Fuel Recovery Case Corning Just Locked In a Massive Verizon Fiber Deal as AI Infrastructure Expands 3 Under-$20 Stocks Tied to the Future of U.S. Energy and Materials Uncle Sam’s Quantum Leap: Feds Fund a $300M Quantum Supercycle Want to see what other hedge funds are holding AAPL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Apple Inc. (NASDAQ:AAPL – Free Report).

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

JMG Financial Group Ltd. increased its stake in Apple Inc. (NASDAQ:AAPL – Free Report) by 70.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,701 shares of the iPhone maker’s stock after acquiring an additional 3,599 shares during the period. Apple makes up approximately 0.1% of JMG Financial Group Ltd.’s investment portfolio, making the stock its 17th biggest position. JMG Financial Group Ltd.’s holdings in Apple were worth $2,518,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Norges Bank bought a new stake in shares of Apple in the 4th quarter worth $52,266,468,000. Nuveen LLC acquired a new position in Apple during the first quarter worth about $17,472,482,000. Cardano Risk Management B.V. grew its holdings in 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 position in Apple by 20,464.8% in 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 acquiring an additional 26,937,401 shares in the last quarter. Finally, Vanguard Group Inc. raised its position in Apple by 1.9% in 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 acquiring an additional 26,856,752 shares in the last quarter. Institutional investors and hedge funds own 67.73% of the company’s stock.

Apple Stock Up 3.6% Shares of NASDAQ:AAPL opened at $326.57 on Friday. The firm has a 50 day simple moving average of $317.73 and a 200 day simple moving average of $292.17. Apple Inc. has a 52 week low of $226.65 and a 52 week high of $344.57. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.93 and a current ratio of 1.00. The company has a market cap of $4.77 trillion, a PE ratio of 37.45, a price-to-earnings-growth ratio of 2.73 and a beta of 1.08.

Apple (NASDAQ:AAPL – Get Free Report) last posted its quarterly earnings data on Thursday, July 30th. The iPhone maker reported $2.02 earnings per share for the quarter, topping the consensus estimate of $1.89 by $0.13. Apple had a net margin of 27.62% and a return on equity of 135.46%. The firm had revenue of $109.42 billion for the quarter, compared to analysts’ expectations of $109.04 billion. During the same period in the previous year, the company posted $1.57 EPS. The company’s quarterly revenue was up 16.4% compared to the same quarter last year. As a group, research analysts expect that Apple Inc. will post 8.74 earnings per share for the current year. Apple Dividend Announcement The firm also recently declared a quarterly dividend, which was paid on Thursday, August 13th. Stockholders of record on Monday, August 10th were issued a dividend of $0.27 per share. The ex-dividend date was Monday, August 10th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 0.3%. Apple’s payout ratio is currently 12.39%.

Analysts Set New Price Targets AAPL has been the subject of a number of research analyst reports. Maxim Group reissued a “buy” rating and issued a $350.00 price target (up from $310.00) on shares of Apple in a report on Tuesday, June 9th. UBS Group reaffirmed a “neutral” rating on shares of Apple in a research note on Thursday. Wells Fargo & Company reiterated an “overweight” rating and issued a $350.00 target price (up from $310.00) on shares of Apple in a report on Friday, July 31st. Piper Sandler initiated coverage on shares of Apple in a research note on Monday, August 17th. They set an “overweight” rating for the company. Finally, Oppenheimer restated a “market perform” rating on shares of Apple in a report on Thursday. One research analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, twelve have given a Hold rating and four have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $334.91.

View Our Latest Stock Analysis on AAPL

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

Positive Sentiment: iPhone Duo creates a potential new growth cycle. Apple unveiled its first foldable smartphone, the $1,999 iPhone Duo, which is scheduled to reach stores October 23. Analysts believe the device could stimulate upgrades, expand ecosystem engagement and add a significant premium-revenue stream. Some bullish estimates suggest foldables could eventually represent 10% to 20% of iPhone revenue. How Wall Street viewed Apple’s foldable iPhone Positive Sentiment: Investors viewed the launch as evidence of renewed hardware innovation under CEO John Ternus. Alongside the Duo, Apple introduced the iPhone 18 Pro models, new Apple Watches, AirPods 5 and expanded Siri AI features. TD Cowen maintained a Buy rating with a $400 price target, while Citi and other analysts also remained constructive. TD Cowen reiterates Buy rating Positive Sentiment: Carrier promotions may improve affordability. T-Mobile, AT&T and Verizon are introducing installment and trade-in offers for the expensive Duo, potentially reducing sticker-price resistance without triggering an industrywide price war. Wireless carrier promotions Neutral Sentiment: Wall Street remains divided. Bank of America kept its Buy rating but reduced its price target to $370, citing an earnings tradeoff, while Rosenblatt retained a $303 Neutral target. The key questions are demand, supply constraints and whether premium pricing offsets higher component costs. Negative Sentiment: Margin pressure is a major risk. Apple raised iPhone Pro prices by $100, but memory and other component costs are rising rapidly. Analysts warn that the price increases may not fully protect profitability, particularly during the initial foldable launch period. Negative Sentiment: China presents a tougher competitive backdrop. Apple’s new CEO faces stronger local rivals, including Huawei, and uncertainty over whether the Duo can regain momentum in China. The broader market also faced pressure from surging oil prices and Treasury yields, increasing the risk of multiple compression. Negative Sentiment: Insider selling adds a modest cautionary signal. SVP Jennifer Newstead sold 1,438 shares for approximately $456,000, reducing her direct ownership by about 4%, though she continues to hold a substantial position. Insiders Place Their Bets 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. Also, SVP Jennifer Newstead sold 1,439 shares of Apple stock in a transaction dated Tuesday, September 1st. The shares were sold at an average price of $317.01, for a total value of $456,177.39. Following the transaction, the senior vice president directly owned 35,790 shares in the company, valued at approximately $11,345,787.90. This trade represents a 3.87% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 7,310 shares of company stock worth $2,279,378 in the last quarter. 0.06% of the stock is currently owned by corporate insiders.

About Apple (Free Report)

Apple Inc is a technology company that designs, develops and markets consumer electronics, software and digital services. Its principal products include the iPhone, Mac computers, iPad tablets, Apple Watch, AirPods and other accessories. The company also develops operating systems and applications that support its hardware products.

Apple’s services business includes the App Store, Apple Music, Apple TV, Apple Arcade, Apple Fitness+, Apple News+, Apple Pay and iCloud. These services provide digital content, payments, cloud storage and subscription offerings across the company’s ecosystem of devices.

Founded in 1976, Apple is headquartered in Cupertino, California, and serves consumers, businesses, educational institutions and government customers worldwide.

Featured Stories Five stocks we like better than Apple AeroVironment’s Record Backlog and Earnings Beat Fuel Recovery Case Corning Just Locked In a Massive Verizon Fiber Deal as AI Infrastructure Expands 3 Under-$20 Stocks Tied to the Future of U.S. Energy and Materials Uncle Sam’s Quantum Leap: Feds Fund a $300M Quantum Supercycle Want to see what other hedge funds are holding AAPL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Apple Inc. (NASDAQ:AAPL – Free Report).

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

Narus Financial Partners LLC lessened its stake in shares of Apple Inc. (NASDAQ:AAPL – Free Report) by 11.2% in the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 17,935 shares of the iPhone maker’s stock after selling 2,267 shares during the period. Apple comprises about 1.3% of Narus Financial Partners LLC’s holdings, making the stock its 13th biggest position. Narus Financial Partners LLC’s holdings in Apple were worth $5,190,000 as of its most recent filing with the SEC.

Several other hedge funds have also added to or reduced their stakes in AAPL. Lifetime Wealth Management P.C. bought a new position in Apple during the fourth quarter valued at $41,000. ROSS JOHNSON & Associates LLC raised its stake in shares of Apple by 1,800.0% in the first quarter. ROSS JOHNSON & Associates LLC now owns 190 shares of the iPhone maker’s stock valued at $42,000 after buying an additional 180 shares during the period. LSV Asset Management purchased a new position in shares of Apple during the 4th quarter valued at $65,000. Timmons Wealth Management LLC purchased a new position in shares of Apple during the 4th quarter valued at $69,000. Finally, Inspire Investing LLC bought a new position in shares of Apple during the 4th quarter worth $76,000. Institutional investors own 67.73% of the company’s stock.

Wall Street Analyst Weigh In A number of equities research analysts recently issued reports on AAPL shares. BTIG Research initiated coverage on Apple in a research note on Monday, August 17th. They issued a “neutral” rating on the stock. KGI Securities lowered shares of Apple from an “outperform” rating to a “hold” rating and set a $315.00 target price for the company. in a research report on Monday, June 22nd. Barclays reiterated an “underweight” rating and issued a $245.00 target price (down from $253.00) on shares of Apple in a research note on Friday, July 31st. Bank of America reissued a “buy” rating and issued a $370.00 price target (down from $380.00) on shares of Apple in a research report on Thursday. Finally, Morgan Stanley restated an “overweight” rating and set a $360.00 price target on shares of Apple in a research note on Wednesday, September 2nd. One investment analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, twelve have given a Hold rating and four have assigned a Sell rating to the stock. According to data from MarketBeat.com, Apple presently has an average rating of “Moderate Buy” and an average target price of $334.91.

Read Our Latest Report on AAPL Apple Stock Performance NASDAQ:AAPL opened at $326.57 on Friday. The business’s 50-day moving average price is $317.73 and its two-hundred day moving average price is $292.17. Apple Inc. has a twelve month low of $226.65 and a twelve month high of $344.57. The stock has a market cap of $4.77 trillion, a P/E ratio of 37.45, a PEG ratio of 2.73 and a beta of 1.08. The company has a quick ratio of 0.93, a current ratio of 1.00 and a debt-to-equity ratio of 0.66.

Apple (NASDAQ:AAPL – Get Free Report) last issued its quarterly earnings data on Thursday, July 30th. The iPhone maker reported $2.02 EPS for the quarter, topping the consensus estimate of $1.89 by $0.13. The company had revenue of $109.42 billion during the quarter, compared to analyst estimates of $109.04 billion. Apple had a return on equity of 135.46% and a net margin of 27.62%.Apple’s revenue was up 16.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.57 earnings per share. As a group, equities analysts predict that Apple Inc. will post 8.74 EPS for the current fiscal year.

Apple Dividend Announcement The business also recently declared a quarterly dividend, which was paid on Thursday, August 13th. Shareholders of record on Monday, August 10th were paid a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date of this dividend was Monday, August 10th. Apple’s payout ratio is currently 12.39%.

Insiders Place Their Bets In other news, SVP Jennifer Newstead sold 1,439 shares of the firm’s stock in a transaction on Tuesday, September 1st. The shares were sold at an average price of $317.01, for a total transaction of $456,177.39. Following the sale, the senior vice president owned 35,790 shares in the company, valued at approximately $11,345,787.90. This trade represents a 3.87% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Ben Borders sold 116 shares of Apple stock in a transaction on Tuesday, June 16th. The stock was sold at an average price of $295.14, for a total transaction of $34,236.24. Following the sale, the insider directly owned 38,713 shares of the company’s stock, valued at $11,425,754.82. This represents a 0.30% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 7,310 shares of company stock worth $2,279,378 in the last three months. Insiders own 0.06% of the company’s stock.

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

Positive Sentiment: iPhone Duo creates a potential new growth cycle. Apple unveiled its first foldable smartphone, the $1,999 iPhone Duo, which is scheduled to reach stores October 23. Analysts believe the device could stimulate upgrades, expand ecosystem engagement and add a significant premium-revenue stream. Some bullish estimates suggest foldables could eventually represent 10% to 20% of iPhone revenue. How Wall Street viewed Apple’s foldable iPhone Positive Sentiment: Investors viewed the launch as evidence of renewed hardware innovation under CEO John Ternus. Alongside the Duo, Apple introduced the iPhone 18 Pro models, new Apple Watches, AirPods 5 and expanded Siri AI features. TD Cowen maintained a Buy rating with a $400 price target, while Citi and other analysts also remained constructive. TD Cowen reiterates Buy rating Positive Sentiment: Carrier promotions may improve affordability. T-Mobile, AT&T and Verizon are introducing installment and trade-in offers for the expensive Duo, potentially reducing sticker-price resistance without triggering an industrywide price war. Wireless carrier promotions Neutral Sentiment: Wall Street remains divided. Bank of America kept its Buy rating but reduced its price target to $370, citing an earnings tradeoff, while Rosenblatt retained a $303 Neutral target. The key questions are demand, supply constraints and whether premium pricing offsets higher component costs. Negative Sentiment: Margin pressure is a major risk. Apple raised iPhone Pro prices by $100, but memory and other component costs are rising rapidly. Analysts warn that the price increases may not fully protect profitability, particularly during the initial foldable launch period. Negative Sentiment: China presents a tougher competitive backdrop. Apple’s new CEO faces stronger local rivals, including Huawei, and uncertainty over whether the Duo can regain momentum in China. The broader market also faced pressure from surging oil prices and Treasury yields, increasing the risk of multiple compression. Negative Sentiment: Insider selling adds a modest cautionary signal. SVP Jennifer Newstead sold 1,438 shares for approximately $456,000, reducing her direct ownership by about 4%, though she continues to hold a substantial position. About Apple (Free Report)

Apple Inc is a technology company that designs, develops and markets consumer electronics, software and digital services. Its principal products include the iPhone, Mac computers, iPad tablets, Apple Watch, AirPods and other accessories. The company also develops operating systems and applications that support its hardware products.

Apple’s services business includes the App Store, Apple Music, Apple TV, Apple Arcade, Apple Fitness+, Apple News+, Apple Pay and iCloud. These services provide digital content, payments, cloud storage and subscription offerings across the company’s ecosystem of devices.

Founded in 1976, Apple is headquartered in Cupertino, California, and serves consumers, businesses, educational institutions and government customers worldwide.

Featured Stories Five stocks we like better than Apple AeroVironment’s Record Backlog and Earnings Beat Fuel Recovery Case Corning Just Locked In a Massive Verizon Fiber Deal as AI Infrastructure Expands 3 Under-$20 Stocks Tied to the Future of U.S. Energy and Materials Uncle Sam’s Quantum Leap: Feds Fund a $300M Quantum Supercycle Want to see what other hedge funds are holding AAPL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Apple Inc. (NASDAQ:AAPL – Free Report).

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

MGO One Seven LLC increased its stake in shares of Apple Inc. (NASDAQ:AAPL – Free Report) by 5.6% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 611,989 shares of the iPhone maker’s stock after acquiring an additional 32,521 shares during the period. Apple comprises about 2.9% of MGO One Seven LLC’s portfolio, making the stock its 3rd largest position. MGO One Seven LLC’s holdings in Apple were worth $177,085,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Sterling Wealth Management Inc. lifted its holdings in shares of Apple by 0.3% in the second quarter. Sterling Wealth Management Inc. now owns 11,579 shares of the iPhone maker’s stock valued at $3,351,000 after purchasing an additional 30 shares in the last quarter. Evansbrook LLC boosted its position in shares of Apple by 0.4% during the first quarter. Evansbrook LLC now owns 8,095 shares of the iPhone maker’s stock worth $2,054,000 after buying an additional 34 shares during the period. JMG Financial Group Ltd. grew its holdings in shares of Apple by 0.7% during the first quarter. JMG Financial Group Ltd. now owns 5,102 shares of the iPhone maker’s stock worth $1,295,000 after buying an additional 35 shares in the last quarter. Reyes Financial Architecture Inc. grew its holdings in shares of Apple by 0.4% during the third quarter. Reyes Financial Architecture Inc. now owns 9,898 shares of the iPhone maker’s stock worth $2,520,000 after buying an additional 37 shares in the last quarter. Finally, Advocate Investing Services LLC raised its position in Apple by 0.5% in the 2nd quarter. Advocate Investing Services LLC now owns 7,847 shares of the iPhone maker’s stock valued at $2,271,000 after buying an additional 39 shares during the last quarter. 67.73% of the stock is currently owned by institutional investors and hedge funds.

Apple Trading Up 3.6% AAPL stock opened at $326.57 on Friday. Apple Inc. has a one year low of $226.65 and a one year high of $344.57. The stock has a market cap of $4.77 trillion, a price-to-earnings ratio of 37.45, a price-to-earnings-growth ratio of 2.73 and a beta of 1.08. The company has a fifty day moving average price of $317.73 and a two-hundred day moving average price of $292.17. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.00 and a quick ratio of 0.93.

Apple (NASDAQ:AAPL – Get Free Report) last issued its quarterly earnings data on Thursday, July 30th. The iPhone maker reported $2.02 earnings per share for the quarter, beating the consensus estimate of $1.89 by $0.13. The company had revenue of $109.42 billion for the quarter, compared to analyst estimates of $109.04 billion. Apple had a net margin of 27.62% and a return on equity of 135.46%. The company’s revenue was up 16.4% on a year-over-year basis. During the same period in the prior year, the firm earned $1.57 earnings per share. Equities analysts anticipate that Apple Inc. will post 8.74 EPS for the current year. Apple Announces Dividend The business also recently declared a quarterly dividend, which was paid on Thursday, August 13th. Shareholders of record on Monday, August 10th were issued a $0.27 dividend. This represents a $1.08 annualized dividend and a yield of 0.3%. The ex-dividend date of this dividend was Monday, August 10th. Apple’s dividend payout ratio is currently 12.39%.

Analysts Set New Price Targets Several equities research analysts have commented on AAPL shares. Seaport Research Partners cut Apple from a “buy” rating to a “neutral” rating in a research note on Monday, August 17th. Phillip Securities downgraded shares of Apple from a “hold” rating to a “moderate sell” rating in a report on Monday, August 3rd. Citigroup reissued a “buy” rating on shares of Apple in a research report on Thursday. Wedbush restated an “outperform” rating and set a $400.00 target price on shares of Apple in a report on Friday, June 5th. Finally, KGI Securities downgraded shares of Apple from an “outperform” rating to a “hold” rating and set a $315.00 target price for the company. in a research report on Monday, June 22nd. One equities research analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, twelve have given a Hold rating and four have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Apple has an average rating of “Moderate Buy” and a consensus price target of $334.91.

Check Out Our Latest Research Report on Apple

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

Positive Sentiment: iPhone Duo creates a potential new growth cycle. Apple unveiled its first foldable smartphone, the $1,999 iPhone Duo, which is scheduled to reach stores October 23. Analysts believe the device could stimulate upgrades, expand ecosystem engagement and add a significant premium-revenue stream. Some bullish estimates suggest foldables could eventually represent 10% to 20% of iPhone revenue. How Wall Street viewed Apple’s foldable iPhone Positive Sentiment: Investors viewed the launch as evidence of renewed hardware innovation under CEO John Ternus. Alongside the Duo, Apple introduced the iPhone 18 Pro models, new Apple Watches, AirPods 5 and expanded Siri AI features. TD Cowen maintained a Buy rating with a $400 price target, while Citi and other analysts also remained constructive. TD Cowen reiterates Buy rating Positive Sentiment: Carrier promotions may improve affordability. T-Mobile, AT&T and Verizon are introducing installment and trade-in offers for the expensive Duo, potentially reducing sticker-price resistance without triggering an industrywide price war. Wireless carrier promotions Neutral Sentiment: Wall Street remains divided. Bank of America kept its Buy rating but reduced its price target to $370, citing an earnings tradeoff, while Rosenblatt retained a $303 Neutral target. The key questions are demand, supply constraints and whether premium pricing offsets higher component costs. Negative Sentiment: Margin pressure is a major risk. Apple raised iPhone Pro prices by $100, but memory and other component costs are rising rapidly. Analysts warn that the price increases may not fully protect profitability, particularly during the initial foldable launch period. Negative Sentiment: China presents a tougher competitive backdrop. Apple’s new CEO faces stronger local rivals, including Huawei, and uncertainty over whether the Duo can regain momentum in China. The broader market also faced pressure from surging oil prices and Treasury yields, increasing the risk of multiple compression. Negative Sentiment: Insider selling adds a modest cautionary signal. SVP Jennifer Newstead sold 1,438 shares for approximately $456,000, reducing her direct ownership by about 4%, though she continues to hold a substantial position. Insider Activity In other news, SVP Jennifer Newstead sold 1,439 shares of the stock in a transaction that occurred on Tuesday, September 1st. The stock was sold at an average price of $317.01, for a total transaction of $456,177.39. Following the transaction, the senior vice president owned 35,790 shares in the company, valued at approximately $11,345,787.90. This trade represents a 3.87% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Ben Borders sold 116 shares of Apple stock in a transaction that occurred 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 sale, the insider directly owned 38,713 shares of the company’s stock, valued at approximately $11,425,754.82. The trade was a 0.30% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last three months, insiders sold 7,310 shares of company stock worth $2,279,378. Insiders own 0.06% of the company’s stock.

Apple Company Profile (Free Report)

Apple Inc is a technology company that designs, develops and markets consumer electronics, software and digital services. Its principal products include the iPhone, Mac computers, iPad tablets, Apple Watch, AirPods and other accessories. The company also develops operating systems and applications that support its hardware products.

Apple’s services business includes the App Store, Apple Music, Apple TV, Apple Arcade, Apple Fitness+, Apple News+, Apple Pay and iCloud. These services provide digital content, payments, cloud storage and subscription offerings across the company’s ecosystem of devices.

Founded in 1976, Apple is headquartered in Cupertino, California, and serves consumers, businesses, educational institutions and government customers worldwide.

Read More Five stocks we like better than Apple AeroVironment’s Record Backlog and Earnings Beat Fuel Recovery Case Corning Just Locked In a Massive Verizon Fiber Deal as AI Infrastructure Expands 3 Under-$20 Stocks Tied to the Future of U.S. Energy and Materials Uncle Sam’s Quantum Leap: Feds Fund a $300M Quantum Supercycle 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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While the latest iPhone showcase – including the showcase of the highly anticipated iPhone Duo – pushed Apple (NASDAQ: AAPL) stock 3.56% higher in the subsequent regular session, Wall Street analysts came out divided in their reactions.

Apple stock price one-day chart. Source: Google Specifically, among the ten noteworthy expert notes issued on September 10, five featured a ‘Buy’ recommendation, four were ‘Neutral,’ and one even rated AAPL shares as a ‘Sell.’

To begin with, TD Cowen’s Krish Sankar was the most bullish with both a positive recommendation and a $400 12-month price target – the highest of the day and one predicting a 22.49% rally from the latest close at $326.57.

Meanwhile, Tim Long from Barclays came in at the other end of the spectrum, not only rating Apple stock as a ‘Sell,’ but also forecasting a 24.98% plunge to $245.

The division was also seen in Wall Street analysts’ remarks in the wake of the iPhone lineup showcase. JPMorgan was positive regarding the pricing and estimated it represents a good balance.

Bank of America was more mixed as it estimated that the lower-than-expected prices could help with sales, but are likely to be a negative in terms of margins. Rosenblatt was apparently entirely neutral, largely echoing BofA’s concerns over margins.

Lastly, Citi described the event as ‘in-line with expectations’ but was also seemingly impressed by it, as it assigned a ‘Buy’ rating to Apple stock and predicted AAPL shares would rise 11.77% to $365.

Analysts predict Apple stock price in 12 months’ time Looking beyond the most recent ratings, the new iPhone and iPhone Duo showcase appears to have done little in terms of moving the needle. Specifically, Apple stock is, overall, considered a ‘Moderate Buy’ on the equity analysis platform TipRanks and boasts sixteen positive, twelve neutral, and four ‘Sell’ recommendations.

Wall Street sets Apple stock price target for the next 12 months. Source: TipRanks The average 12-month AAPL share price target, for its, also appears in line with the divided analyst attitudes, as it predicts a 2.85% rally to $335.87.

Apple stock price performance Finally, Apple stock’s 2026 performance stands in stark contrast to the predictions. After a sharp decline and some sluggishness in the first quarter (Q1), AAPL equity started a recovery that eventually placed it at $326.57 and 20.50% in the green year-to-date (YTD).

Apple stock price YTD chart. Source: Google Recent performance has also been positive, albeit with significant volatility, and the blue-chip technology giant is up 7.10% on the 30-day chart.

Featured image via Shutterstock

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Are the iPhone Duo and Apple's Audio Intelligence features thoughtful or thoughtless? Engadget's executive editor Cherlynn Low is joined by guests Julian Chokkattu from Wired and Michael Fisher (aka MrMobile) to talk about the company's most impactful announcements this week.

Tom Forte from Maxim Group explains why he's hoping John Ternus will shift Apple's focus back to hardware innovation as the company's new CEO. He also notes a rebound in sales from China, even as Apple leans into the premium market for smartphones.

Wireless carriers are rolling out their initial iPhone promotions, but analysts say there’s no price war just yet

Apple just introduced the world to its most expensive smartphones to date. Now, consumers want to see if wireless carriers will make getting one worth their while.

On Wednesday, Apple AAPL unveiled the iPhone 18 Pro and iPhone 18 Pro Max, promising stellar performance — at a steep cost. The 18 Pro starts at $1,199, while the 18 Pro Max will cost customers at least $1,299. Apple also introduced its first foldable smartphone, a model called the Duo that will start at $1,999.

Apple (AAPL +3.17%) put bigger price tags on its best iPhones on Wednesday. The iPhone 18 Pro starts at $1,199, up $100 from last year's iPhone 17 Pro, and the iPhone 18 Pro Max starts at $1,299. Above both sits the iPhone Duo, Apple's new $1,999 foldable.

A $100 increase may sound like bad news for buyers and good news for shareholders. But the analysts who track Apple's component costs expected worse.

Research firm TrendForce had modeled a jump of $150 to $200, citing memory costs for the 256GB model that it expected to be nearly 400% higher than a year earlier. One analyst warned costs could push prices as much as $300 higher.

In other words, Apple raised starting prices by less than the component math seemed to demand. The difference is coming out of the iPhone maker's profit margins -- and the company's own margin guidance already shows the memory squeeze.

Image source: Getty Images.

A smaller hike than expectedBoth Pro models start at 256 gigabytes of storage and top out at 2 terabytes. Preorders open Saturday, Sept. 12, and the phones hit stores on Sept. 18.

The increase works out to about 9% on the Pro and 8% on the Pro Max. Higher-storage versions climbed more -- the 1-terabyte models cost $300 more than last year's, and the Pro Max's 2-terabyte version costs $500 more.

And it isn't the company's first memory-driven price move: In June, Apple raised prices across its Mac, iPad, and home product lines in response to the memory shortage while leaving iPhone prices untouched.

That restraint is over. But the increase didn't turn out to be too bad.

Memory costs are outrunning the increaseThe tech giant has been unusually specific about its memory problem. The company "paid more for memory in the March quarter than the December quarter," then-CEO Tim Cook said on Apple's July 30 earnings call, his last before handing the job to John Ternus. Costs stepped up significantly again in the June quarter, he explained. "For September, we expect to pay even higher memory costs," Cook said, describing the environment as "a 100-year flood on the memory pricing." He also warned that memory prices across the broader market look set to keep climbing beyond September.

The squeeze shows up in the reported numbers, too. Apple's gross margin was 50.1% in the June quarter, and that figure included a benefit of about two percentage points from tariff refunds. For the September quarter, management guided for gross margin between 47% and 48%, including about one percentage point of tariff-refund help.

Strip the refunds out of both periods, and the underlying margin is compressing by more than a point per quarter -- even as revenue keeps growing.

I don't expect much of the extra $100 to reach Apple's bottom line right away. On a phone that sold for $1,099, the increase is about 9% more revenue per unit, and a price increase is the most profitable kind of revenue (there is no additional device to build behind it). If component costs were standing still, most of that $100 would fall straight to gross profit.

But component costs aren't standing still. If the supply chain estimates are anywhere close, the new prices recover only part of the added cost of building the lower-storage models.

Timing, of course, works against this quarter. The new models don't go on sale until Sept. 18, so the September quarter captures less than two weeks of sales at the new prices. The December quarter is the first full test.

However, demand is doing its part. Not only did Apple's revenue rise 16% year over year to $109.4 billion in the June quarter (management called it the company's strongest June quarter ever), but earnings per share also climbed 29% to $2.02. Management expects September-quarter revenue to grow between 9% and 11% from a year ago. With growth like that, gross profit dollars can keep rising even while the margin rate falls.

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Ultimately, the extra $100 slows the margin slide without stopping it. The new prices appear to cover only part of a memory bill management expects to keep growing, and Apple is absorbing the rest for now.

I'd call that a cost problem, not a demand problem. And cost problems tend to pass.

At around $315 as of this writing, the stock sits about 8% below a 52-week high of $344.57 -- and shares trade at about 33 times what Apple is expected to earn next fiscal year.

A quick end to the memory squeeze is arguably baked into the stock's valuation. But until memory prices turn, Apple is likely to keep absorbing part of the increase rather than passing all of it on.

Apple's biggest product surprise comes with an uncomfortable earnings tradeoff Summary

Bank of America praised CEO John Ternus and the foldable iPhone Duo, but reduced Apple’s target because lower pricing could squeeze margins

Bank of America kept its Buy rating on Apple AAPL after CEO John Ternus delivered his first product event, but lowered its price objective as softer-than-expected pricing threatened margins.

The bank reduced its Apple target to $370 from $380. From the referenced share price of $315.34, the new objective implies approximately 17% upside.

Analysts said the foldable iPhone Duo “stole the show,” introducing Apple's most meaningful form-factor change in years. Its folding display supports iPad-like productivity, while planned Pencil compatibility, FaceTime dual capture and optimized apps could help the device become mainstream.

Why Bank of America Lowered Apple's TargetThe concern is not demand. New iPhone pricing came below expectations, potentially supporting higher sales volumes while pressuring gross margins as memory and component costs rise.

The firm raised its iPhone unit estimates by 2 million devices for fiscal 2026 and 5 million for fiscal 2027. However, the smaller-than-expected increase in average selling prices prompted earnings reductions. Its calendar 2027 earnings estimate fell to $9.98 per share from $10.32.

Bank of America maintained the 37-times earnings multiple used in its valuation, meaning the lower target reflects reduced profit expectations rather than weakening confidence in Apple's long-term strategy.

Ternus emphasized Apple's focus on integrating hardware, software and services while protecting customer privacy. He described the iPhone as an intelligent personal hub capable of understanding user context. New devices will run some AI models on-device and send more complex requests through Private Cloud Compute.

The event also introduced upgraded iPhone 18 Pro models, Apple Watches and AirPods featuring improved processors, cameras, battery performance and health capabilities.

For investors, the report presents a balanced signal: stronger unit demand and product innovation support the Buy thesis, but lower pricing and rising input costs could limit near-term earnings leverage. Future upside depends on Duo adoption, product mix and Apple's ability to preserve margins.

Disclosures I/we have no positions in any stocks mentioned, and have no plans to buy any new positions in the stocks mentioned within the next 72 hours.

Click for the complete disclosure

Apple Inc (NASDAQ:AAPL, XETRA:APC) had a good Thursday, with shares up 3.1% after unveiling its first foldable iPhone, the $1,999-and-up iPhone Duo.

The move puts Apple into a market Samsung, Google and Huawei have played in for years – the biggest shake-up to the iPhone lineup in a long time.

The reveal also marked new CEO John Ternus's first major product launch since taking over.

The Duo packs a 5.4-inch outer display, a 7.6-inch inner display, Apple's new A20 Pro chip with a fresh display engine, and Touch ID. It comes in star white and night sky, starts at $2,000 for 256GB and tops out at $3,200 for 2TB. Pre-orders open October 16, with shipping starting October 23.

Apple also trimmed its lineup to three models: the Pro ($1,199), the Pro Max ($1,299), and the Duo, with both the Pro and Pro Max up $100 from last year.

What analysts are saying

Bank of America called the Duo the star of the show, praising how well Apple blended the hardware and software. The bank sees the bigger foldable screen opening up a much larger market for Apple, especially once pencil support arrives later in the year and the device starts feeling more like an iPad for productivity.

New touches like dual capture in FaceTime and apps built around the extra screen space should help it go mainstream over time, analysts added.

UBS said the event mostly matched expectations, since the firm had already anticipated the foldable, though it still called the Duo a real shift for the lineup.

On pricing, UBS noted the $100 increases on the Pro and Pro Max don't fully offset Apple's higher memory costs, but a bigger $200 jump likely would have hurt demand. The bank pointed back to 2022, when Apple raised European prices and demand stayed soft for nearly a year, as a cautionary comparison.

UBS also expects the iPhone 18 Base, Air and e models to launch early next year.

Supply chain signals

UBS's supply chain checks point to 8 million to 10 million foldable builds. At $1,999, the Duo costs more than the 1TB iPhone 17 Pro at $1,499 but lines up closer to the 2TB iPhone 17 Pro Max at $1,999.

UBS expects early demand to come mostly from existing Apple customers upgrading rather than switchers. Using Samsung's foldable sell-through as a guide, roughly 10 million units over a year, about 3 million in the first three months, UBS thinks Apple could top 5 million foldable units in fiscal 2026.

If a couple million Pro and Pro Max buyers shift to the Duo, that could add about 6 million incremental units, roughly a 2% boost to its 261 million iPhone estimate for the year. UBS left its broader iPhone estimates unchanged.

Ternus makes his mark

Thursday's event also served as a coming-out party for Ternus, who used his first major keynote as CEO to put his own stamp on Apple's product philosophy.

Bank of America said Ternus, in his debut as CEO, leaned into Apple's focus on reliable products that tie hardware, software and services together. He described the iPhone as an "intelligent personal hub" powered by on-device AI and Private Cloud Compute for tougher requests, with Siri expected to grow more capable while protecting user privacy.

BofA kept its Buy rating, noting pricing came in lower than expected, which could boost units but may pressure gross margins given rising memory and component costs.

Whether the Duo becomes a true growth driver or a niche upgrade for loyalists will be the key question heading into the holiday quarter.

Deepwater Asset Management Managing Partner and co-founder Gene Munster says Apple's foldable iPhone Duo will eventually make up 10% of all iPhone sales. He says the higher price point won't keep customers away.

Apple unveiled the company's first foldable smartphone during a wide-ranging event Wednesday, betting that a new category can energize growth for its biggest-selling lineup. The iPhone Duo will start at $1,999 and cost up to $3,199.

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AAPL

Buy Apple (AAPL). The thesis is that early iPhone Duo demand will be supply-limited, not appetite-limited: units should sell as fast as Apple can produce for the next 3–6 months. The article also points to smart pricing (lower-than-feared entry price, price hikes pushed into 1TB/2TB storage) plus trade-ins to pull mainstream buyers into the upgrade cycle—supporting revenue growth without margin damage. Watch for short delivery lead times and strong hinge durability/battery reviews to confirm the product is “real,” not just hype.

Key Risk: The foldable hinge or battery underperforms in real-world use, forcing costly redesigns/warranty issues and killing confidence in iPhone Duo adoption.

Apple supply chain (ASM International)

Buy ASM International (ASM.AS). If iPhone Duo demand is production-volume constrained, Apple’s foldable ramp increases orders for deposition/advanced manufacturing steps used in cutting-edge device production. The second-order play is that supply-chain beneficiaries see order visibility and capacity utilization improve before consumer demand is fully proven—so the stock can move on ramp confidence even while Apple is still constrained by manufacturing.

Key Risk: Apple slows the Duo ramp or shifts production away from ASM’s processes, reducing incremental orders and capacity utilization.

Apple AAPL shares remain in focus following the titan’s launch event yesterday (September 9th), where it unveiled its first-ever foldable iPhone.  

The iPhone Duo set to hit store shelves on October 23 has generated immediate enthusiasm despite its steep price point ($1,999).

Evercore ISI analyst Amit Daryanani, who maintains a Buy rating and a $365 price target on Apple stock, projects that demand for the foldable iPhone will initially outstrip manufacturing capacity.

He expects early unit sales to be dictated entirely by production volume – not consumer appetite.

In an interview this morning with CNBC, Daryanani noted that he walked into Apple’s event with a healthy degree of skepticism – comparing its foldable device to existing offerings from the likes of Samsung.  

However, hands-on experience with the exterior and interior displays changed his perspective.

He highlighted that “the crease is nonexistent” on the inner screen, attributing this achievement to a combination of precise hardware engineering, custom software integration, and a matte screen finish that minimizes visual glare.

In fact, Daryanani emphasized that “this phone is going to sell as many units as Apple can produce, at least in the near term, the next 3 to 6 months.”

According to him, if the iPhone duo captures just 5% of Apple’s install base, it will generate about $25 billion in revenue.

Addressing the $1,999 baseline cost, Daryanani expressed pleasant surprise, noting that the figure came in below the higher figures circulating among some analysts prior to the event.

He observed that Apple kept entry-level price point relatively approachable across its new product lines – including the iPhone Pro tiers – while shifting the bulk of its price hike to higher-tier storage configurations, such as the 1TB and 2TB models.

By offering aggressive trade-in options alongside an attractive entry price, Apple is lowering the adoption barrier for mainstream consumers.

Daryanani believes this balanced tiering structure positions AAPL to drive “significant” top-line expansion while maintaining strong overall gross margins across its hardware lineup.

While initial supply constraints will likely bottleneck early sales, Amit Daryanani outlined critical execution benchmarks for the coming quarters.

Primary metrics to monitor include the physical durability of the hinge mechanism over repeated daily folds and real-world battery performance under heavy video consumption.

Moreover, full-scale software integration remains a key variable; while iOS 27 introduces tailored features, Apple’s broader artificial intelligence ecosystem – specifically the next-gen Siri AI – is still in beta and awaiting compelling native use cases.

As detailed consumer reviews emerge and pre-orders officially launch next week, early delivery lead times will serve as the first definitive gauge of sustained market demand beyond the initial wave.

Ternus unveils iPhone 18 Pro and $1,999 foldable Duo Summary

Apple’s new iPhone lineup brings upgraded AI features and a $1,999 foldable model as the company seeks to sustain upgrade demand

Apple AAPL stock rose about 1% in early Thursday trading after the tech company unveiled its iPhone 18 Pro and first foldable iPhone Duo on Sept. 9, giving new CEO John Ternus a major product debut less than two weeks after taking the top job.

The iPhone 18 Pro starts at $1,199 and adds upgraded camera capabilities, longer battery life and a faster chip designed to support on-device artificial intelligence. Apple also introduced new AirPods and Apple Watch models.

The foldable Duo starts at $1,999 and opens into a 7.6-inch display. Apple said the device is its first iPhone with a foldable screen, making the model a key test of demand for a higher-priced form factor.

Ternus became CEO on Sept. 1 after serving as senior vice president of hardware engineering. The launch also follows strong iPhone 17 sales, raising questions about whether the latest lineup can sustain upgrade demand. Apple shares closed at $315.34, down about 0.3% Wednesday.

Disclosures I/we have no positions in any stocks mentioned, and have no plans to buy any new positions in the stocks mentioned within the next 72 hours.

Click for the complete disclosure

After weeks of buildup, Apple Inc. NASDAQ: AAPL finally pulled back the curtain on its new premium product lineup in years on Wednesday, Sept. 9. Alongside the usual refresh of its premium iPhones, the company unveiled its first-ever foldable iPhone—its boldest reinvention of the iPhone in over a decade.

Apple Today

$323.00 +7.66 (+2.43%)

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The market's reaction, however, was notably muted. Apple shares dipped during the event before recovering to finish the day roughly flat, a curiously neutral response to what was billed as a landmark launch. Sure, the stock remains up more than 16% for the year, but it’s still sitting around 8% below July’s all-time high, and the launch-day price action suggests the market wants to see a bit more before sending it back up there.

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Still, there's no doubt this week's launch has set Apple up for a pivotal few months. The foldable and the higher-priced Pro models are its biggest efforts in years to breathe fresh life into iPhone sales, and how they sell will go a long way toward shaping the stock from here. Investors must now weigh whether it proves to be a blockbuster that sustains growth or a promising but incremental step.

Apple’s Premium Push Takes a New ShapeThe undoubted star of the event was the folding iPhone, dubbed the iPhone Duo, which opens into a large tablet-sized screen while still slipping into a pocket. Positioned by new CEO John Ternus as Apple's most innovative iPhone yet, it creates a new ultra-premium tier above the traditional Pro models, starting at $1,999. It supports niceties like the Apple Pencil and split-screen multitasking.

It wasn't the only headline act, however. The iPhone 18 Pro and Pro Max arrived with new chips, substantially upgraded camera systems, better battery life, and deeper AI integration. Apple also refreshed its Watch and AirPods lines, with the former gaining more advanced health monitoring and the latter a new acoustic design and improved noise cancellation.

Taken together, it was a launch built squarely around the premium end of the range, a clear signal of a strategy that’s leaning ever harder on high-value products.

Why Apple’s Premium Push Could Lift iPhone Revenue86th Percentile

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For the optimists, that premium focus is precisely the point. By introducing the Duo as a pricey new tier and pushing its Pro models harder, Apple can lift the average price of the iPhones it sells, supporting revenue even if total units sold stay broadly flat. In a maturing smartphone market, squeezing more from each sale matters enormously.

The foldable also offers a fresh reason to upgrade. Even if it sells in modest numbers at first, the radically new design could tempt loyal Pro users to trade up, lure a few switchers from rival foldables, and deepen engagement across Apple's lucrative services ecosystem.

Then there is the AI angle. For the bulls, the new chips, smarter camera features, and AI-enabled wearables are less about generating direct revenue and more about making Apple's devices stickier, giving customers another reason to stay within its walls, upgrade their hardware, and spend more on services over time.

The Bear Case: New Hardware, Familiar Growth ChallengesThe doubters, though, have their reservations. Chief among them is that foldable phones have been around for years and remain a niche corner of the market. A folding iPhone may generate plenty of buzz, but the bears question whether a larger screen alone is transformative enough to spark the broad, volume-driven upgrade wave the bulls are hoping for.

The stubborn problem of rising costs also looms. Memory chip prices are climbing sharply amid booming AI demand, squeezing Apple's margins and forcing an awkward choice: raise prices and risk deterring buyers, or absorb the hit to profitability. With upgrade cycles already lengthening as customers hold onto their phones for longer, that is a delicate balance to strike.

Finally, questions linger over Apple's broader AI strategy, which many skeptics still regard as a step behind its rivals'. For the new features to move the needle, they must offer real, everyday usefulness rather than mere marketing gloss, and on that score, the jury is still out.

For Apple Stock, the Next Test Is Customer DemandAll told, the picture is mixed, and the flat reaction in the shares tells its own story. This was a solid, even impressive launch, but not an immediate catalyst for the shares. Sure, the foldable is a bold statement of intent, yet its real impact will only become clear once sales figures start to roll in.

For now, investors can watch how the shares trade in the coming sessions. Apple was ticking higher in early premarket trading on Thursday, Sept. 10, a tentatively encouraging sign, but the reaction into the weekend and beyond will offer a far better read.

Step back, and the bigger picture is unchanged from before this week’s event. Apple is still betting on premium hardware and a sticky ecosystem to drive it forward, and whether its bold new foldable proves a turning point or a pricey sideshow will come down to one thing—how many people actually buy it.

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In John Ternus' debut showcase as CEO, Apple unveiled a swarm of new products, including its first foldable phone called the iPhone Duo, as well as the iPhone 18 Pro and Pro Max with a larger screen.

But the biggest news for investors from Wednesday's event may be the absence of an iPhone 18 without the Pro moniker.

Analysts in recent months have largely expected this shift in Apple's annual cadence, and foresee Apple releasing its mainline iPhone at an event in the spring, when the company has previously announced new low-cost models, including the iPhone SE and iPhone 16e.

The least expensive new iPhone announced on Wednesday was the iPhone 18 Pro, which starts at $1,199 in the U.S., representing a $100 price increase. Prior to the event, the iPhone 17 cost $799, but was listed at $899 afterwards. Apple raised prices of Macs and iPads in June in response to a global shortage in memory and other components that former CEO Tim Cook called "unsustainable" in an interview with the Wall Street Journal.

Ternus replaced Cook at the helm on Sept. 1, becoming just the second Apple CEO since Steve Jobs resigned in 2011 shortly before his death. Cook has warned that supply constraints will persist, and the company noted during its earnings call in July that it would become an even bigger issue for the company during the September quarter.

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Holding the mainstream iPhones until the spring is a new tactic for Apple. Industry analysts said on Wednesday that the company has been looking to smooth out its revenue from quarter to quarter, and could potentially achieve that with the split-launch strategy.

Historically, Apple's biggest quarter has been its first fiscal quarter, which is the first full quarter of iPhone sales and also includes Christmas. The two quarters that follow are typically much slower.

A big iPhone launch in March or April with a lower-priced device would do a lot to smooth out Apple's sales during its slower season, analysts said .

"When Apple puts all the focus on the last quarter of the year, of course that generates quite strong revenues, but they were missing when the second quarter comes along with with much lower sales," said Francisco Jeronimo, a vice president at market researcher IDC, in an interview. "I think this will give them some stability in terms of balancing the revenues throughout the year."

Last decade, Apple split its iPhone lineup into two broad parts when it released the iPhone 11 and a more expensive Pro version with its best displays and cameras. Since then, Apple has announced its Pro and standard phones at the same fall event with identical release dates.

Apple's average selling prices (ASPs) have been going up in recent years, as its Pro phones sell better than the mainline options. The new approach plays into that trend, but has potential downsides, according to Bank of America analyst Wamsi Mohan.

"In our view, the split launch could support mix and ASPs," Mohan wrote in a note this week. But, he added, it "creates some risk that price-sensitive consumers defer upgrades until the lower-priced models arrive."

In the first half of 2026, Apple's iPhone 17 Pro and iPhone 17 Pro Max represented 54% of iPhone sales, according to IDC estimates. The regular iPhone 17 represented 26% of iPhone sales.

"That's how Apple has been playing the game as as the market started to slow down in terms of of smartphone adoption and upgrades," Jeronimo said.

There's also a supply chain play at work. Releasing only two new models instead of four could significantly simplify what Apple has to secure from its supply chain, said Neil Shah, vice president of research at Counterpoint Research.

"High memory pricing is not helping Apple launch multiple iPhones at the same time," Shah said.

At the close of Wednesday's event, the company introduced the foldable iPhone Duo, which will start at $1,999, in line with competitive offerings from companies like Huawei.

Craig Federighi, senior vice president of software engineering, said Apple had redesigned much of its iOS software to take advantage of the two screens, moving buttons and other controls. Users can multitask with two apps at the same time and can use Apple's stylus called Pencil.

"For a device that plays such a central role in your life, a larger display would open up entirely new possibilities," Ternus said at the launch. "We think the best way to achieve that is with a foldable design."

The phone will be powered by the new C2 modem, the second-generation modem Apple has made in-house and a move that further reduces reliance on Qualcomm. Johny Srouji, Apple's chief hardware officer, said in the keynote video that C2 is 50% faster than its predecessor and runs at 15% lower energy.

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Apple shares AAPL gained 1.1% in trading on Thursday after the company unveiled its iPhone Duo, iPhone 18 Pro and iPhone 18 Pro Max at its latest product event.

Wall Street analysts largely viewed the launch constructively, although opinions differed on the strength of the iPhone 18 product cycle and the impact of higher component costs.

Citi maintained a Buy rating on Apple with a $365 price target, while Bank of America kept its Buy rating but lowered its target to $370 from $380.

Morgan Stanley retained an Overweight rating with a $360 target, while GF Securities maintained a Hold rating.

In a note to investors cited by TheFly, Citi described the iPhone Duo as "Apple's biggest new hardware category since the watch and AirPods."

The firm said Apple had already increased prices for the iPhone 16 and iPhone 17 by at least $100 to offset higher memory component costs.

Citi viewed pricing for the iPhone 18 lineup and the foldable model as broadly consistent with its expectations.

Bank of America analyst Wamsi Mohan also took a constructive view while trimming his Apple price target to $370 from $380.

Mohan said the event was the first major product launch under CEO John Ternus and highlighted Ternus's focus on Apple's core values and customer-focused product development.

Mohan also noted that the new iPhone prices were below BofA's estimates.

While that could support stronger unit sales, he said it could also put pressure on gross margins as memory and other component costs rise.

Morgan Stanley analyst Erik Woodring said Apple was positioning the iPhone as an intelligent personal hub, with the iPhone Duo and Siri AI central to the strategy.

Woodring said continued product innovation, semiconductor and software differentiation, and pricing factors could support above-trend growth into fiscal 2027.

He also said the event differed from previous launches because of the change in leadership and the range of new offerings.

According to Woodring, Apple's first 2nm A20 SoC could deliver a significant performance improvement, while the iPhone Duo could reshape the premium smartphone market.

He also highlighted Apple's hardware and software integration and the expected role of Siri AI in making the iPhone a centralized intelligence hub.

GF Securities analyst Henry Huang offered a more cautious assessment, calling the $100 price increase for the iPhone 18 Pro compared with previous models better than feared.

Huang pointed to uncertainty around the iPhone 18 Pro cycle, including limited hardware upgrades and potential margin pressure.

He said the iPhone Duo could partly offset those concerns but described the iPhone 18 series as a modest product cycle.

J.P. Morgan analyst Samik Chatterjee said the event was largely in line with his expectations. He noted that investors may have anticipated larger price increases because of higher memory costs.

Chatterjee said the pricing decisions could support iPhone volumes.

He also expects Siri AI features, powered by Apple's foundational models and scheduled for beta release in mid-September, to contribute to iPhone revenue growth.

Supply-chain feedback from the initial weeks of orders could provide another catalyst for Apple shares as investors assess demand for the new models.

John Ternus opened his first Apple keynote with a folding iPhone, then made a quieter decision that signals a fundamentally different company than investors have owned for the past decade.

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John Ternus walked onstage at Apple’s (NASDAQ:AAPL | AAPL Price Prediction) biggest hardware event of the year to introduce himself as chief executive, unveil a folding phone called the iPhone Duo, and outline what the next iPhone generation will not include. The consequential decision was to narrow the iPhone 18 lineup toward the Pro and Pro Max tier, according to CNBC.

That choice says Apple would rather earn more per unit than chase first-time buyers. It is a different company than the one investors have owned for a decade.

The company still generates enormous cash and commands a premium multiple, with shares at $315.34 and a market capitalization of roughly $4.6 trillion. What changes under Ternus is the mix, the pricing test, and a memory bill that made premium pricing a defensive move rather than a growth story.

A Premium-Only Signal in the Ternus Debut The result is fewer models at higher prices.

The foldable itself was branded the iPhone Duo. Pre-event reporting placed the device in a two-thousand-to-three-thousand-dollar range.

iPhone revenue reached $54.25 billion in the June quarter, and management said the iPhone active install base hit an all-time high. Ternus is deciding which customers to serve first with a franchise that remains healthy.

Memory costs are mostly to blame.

The margin math shifted this year. Tim Cook told analysts on the July 30 earnings call that Apple was seeing “a 100-year flood on the memory pricing with exponential increases in memory prices”.

DRAM has three suppliers, and Apple expects even higher memory costs in the September quarter with a diminishing benefit from carry-in inventory. Products gross margin was 40.1%, and memory explained more than the entire sequential move in company gross margin.

Pushing volume through cheaper phones into a DRAM shortage compresses margin on purpose. Selling only Pro and Pro Max protects unit economics while the memory market resets.

Cook also said Apple “reluctantly raised prices” and evaluates pricing over the long term rather than a 90-day clock. That is the language of a company willing to trade near-term unit growth for a defensible income statement.

Growth Apple Is Willing to Skip Apple’s installed base surpassed 2.5 billion active devices, and services revenue reached $30.7 billion in the June quarter with paid subscriptions past 1.5 billion. Every new user has historically flowed into that services annuity.

Dropping the cheapest iPhones puts a governor on that funnel. Samsung has sold folding phones for several generations, so the iPhone Duo is a high-end catch-up product rather than a category-defining device.

Deepwater’s Gene Munster argued the foldable matters less for its own unit share and more because it squeezes prices higher across the board. That is the premium anchor at work.

The risk is the replacement cycle. If Apple Upgrade financing and higher trade-ins fail to offset sticker shock, and if buyers of prior baseline iPhones defer or defect, the services growth engine slows two years from now.

Is AAPL Stock a Buy? Apple trades at a trailing price-to-earnings ratio of 36x and a forward multiple of 33x, up 35.06% over the past year. That is a full price for a hardware company with a demand-forecast problem.

Q3 revenue rose 16.36%, EPS was $2.02, and the board authorized a fresh $100B buyback alongside $62.09 billion in nine-month repurchases.

Versus Samsung on folding hardware, Apple is late, and versus the broader replacement cycle, it is choosing margin over reach. Both bets are defensible for the next two years unless memory pricing normalizes faster than expected and rivals capture switchers Apple stopped courting.

I’d rate it a Hold. The premium pivot is likely the right call for fiscal 2027, but paying 33 times forward earnings for a company that just narrowed its addressable market leaves little room for a misstep.

Contact [email protected] for any questions or corrections.

Avail Investment Partners LLC increased its stake in Apple Inc. (NASDAQ:AAPL – Free Report) by 40.2% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,498 shares of the iPhone maker’s stock after purchasing an additional 3,008 shares during the period. Apple accounts for 2.3% of Avail Investment Partners LLC’s portfolio, making the stock its 3rd largest holding. Avail Investment Partners LLC’s holdings in Apple were worth $3,038,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

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

Positive Sentiment: Apple introduced the iPhone Duo, its first foldable iPhone, starting at $1,999. The device features a 7.6-inch unfolded display, a 5.4-inch outer screen and a redesigned hinge, creating a potential new high-margin product category and growth opportunity. Apple unveils iPhone Duo Positive Sentiment: The iPhone 18 Pro lineup adds a 2-nanometer A20 Pro chip, camera improvements, longer battery life and upgraded Siri AI features. These upgrades could support premium pricing and strengthen Apple’s artificial-intelligence strategy. Apple iPhone 18 Pro launched Positive Sentiment: Apple also launched AirPods 5, Apple Watch Series 12 and Watch Ultra 4, adding improved noise cancellation, health tracking and Apple Intelligence features. The broad hardware release may support ecosystem engagement and services revenue. Apple introduces AirPods 5 Neutral Sentiment: New CEO John Ternus used his first keynote to emphasize that the iPhone remains Apple’s core platform, signaling continuity with the company’s established strategy while adding foldable hardware and AI capabilities. Apple’s new CEO is reviving a Steve Jobs strategy Neutral Sentiment: Early reviews of the iPhone Duo were generally intrigued, but demand, production capacity and customer acceptance remain unproven. Analysts estimate the foldable could generate substantial revenue if Apple can avoid supply constraints. iPhone Duo first impressions review Negative Sentiment: Apple raised iPhone 18 Pro pricing by $100 and increased prices on older iPhone models. While higher prices could protect revenue and margins, they may limit unit demand, particularly as consumers face elevated component and memory costs. Apple raises prices on older iPhones Negative Sentiment: Huawei launched its Mate XT2 tri-fold smartphone ahead of Apple’s event, highlighting intense competition in foldables. Investors must also monitor manufacturing complexity, elevated inventory and the risk that the highly anticipated launch becomes a sell-the-news event. Huawei launches Mate XT2 Apple Stock Performance Shares of Apple stock opened at $315.34 on Thursday. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.00 and a quick ratio of 0.93. The firm has a market cap of $4.60 trillion, a price-to-earnings ratio of 36.16, a price-to-earnings-growth ratio of 2.74 and a beta of 1.08. The stock’s 50-day moving average is $317.37 and its 200-day moving average is $291.73. Apple Inc. has a one year low of $225.95 and a one year high of $344.57. Apple (NASDAQ:AAPL – Get Free Report) last posted its quarterly earnings data on Thursday, July 30th. The iPhone maker reported $2.02 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.89 by $0.13. Apple had a return on equity of 135.46% and a net margin of 27.62%.The business had revenue of $109.42 billion during the quarter, compared to the consensus estimate of $109.04 billion. During the same period last year, the company earned $1.57 earnings per share. Apple’s quarterly revenue was up 16.4% on a year-over-year basis. Equities analysts predict that Apple Inc. will post 8.74 earnings per share for the current fiscal year.

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

Insider Activity at Apple In other news, SVP Jennifer Newstead sold 1,439 shares of Apple stock in a transaction that occurred on Tuesday, September 1st. The shares were sold at an average price of $317.01, for a total value of $456,177.39. Following the sale, the senior vice president directly owned 35,790 shares in the company, valued at $11,345,787.90. This trade represents a 3.87% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Ben Borders sold 116 shares of the business’s stock in a transaction on Tuesday, June 16th. The stock was sold at an average price of $295.14, for a total transaction of $34,236.24. Following the completion of the sale, the insider directly owned 38,713 shares in the company, valued at approximately $11,425,754.82. This represents a 0.30% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 5,872 shares of company stock valued at $1,823,201 over the last ninety days. Company insiders own 0.06% of the company’s stock.

Analyst Ratings Changes A number of equities research analysts have recently commented on AAPL shares. DZ Bank lowered Apple from a “buy” rating to a “hold” rating and set a $310.00 price target on the stock. in a research report on Tuesday, August 4th. Seaport Research Partners lowered Apple from a “buy” rating to a “neutral” rating in a research report on Monday, August 17th. Royal Bank Of Canada set a $365.00 target price on Apple in a research note on Wednesday, July 15th. China Renaissance downgraded shares of Apple from a “buy” rating to a “hold” rating and set a $280.00 target price on the stock. in a report on Tuesday, August 4th. Finally, Bank of America reaffirmed a “buy” rating and issued a $380.00 price target on shares of Apple in a research note on Thursday, June 18th. One analyst has rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, twelve have given a Hold rating and four have assigned a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $331.53.

Read Our Latest Stock Report on AAPL

Apple Company Profile (Free Report)

Apple Inc is a technology company that designs, develops and markets consumer electronics, software and digital services. Its principal products include the iPhone, Mac computers, iPad tablets, Apple Watch, AirPods and other accessories. The company also develops operating systems and applications that support its hardware products.

Apple’s services business includes the App Store, Apple Music, Apple TV, Apple Arcade, Apple Fitness+, Apple News+, Apple Pay and iCloud. These services provide digital content, payments, cloud storage and subscription offerings across the company’s ecosystem of devices.

Founded in 1976, Apple is headquartered in Cupertino, California, and serves consumers, businesses, educational institutions and government customers worldwide.

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Convergence Investment Partners LLC trimmed its position in Apple Inc. (NASDAQ:AAPL – Free Report) by 34.6% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,486 shares of the iPhone maker’s stock after selling 11,344 shares during the quarter. Convergence Investment Partners LLC’s holdings in Apple were worth $6,217,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in Apple in the 4th quarter worth about $52,266,468,000. Nuveen LLC bought a new stake in Apple in the 1st quarter valued at about $17,472,482,000. Cardano Risk Management B.V. grew its position in shares of Apple by 890.7% during the 4th quarter. Cardano Risk Management B.V. now owns 41,984,810 shares of the iPhone maker’s stock worth $11,413,990,000 after purchasing an additional 37,746,784 shares in the last quarter. Laurel Wealth Advisors LLC grew its position in shares of Apple by 20,464.8% during the 2nd 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. increased its holdings in shares of Apple by 1.9% during the fourth quarter. Vanguard Group Inc. now owns 1,426,283,914 shares of the iPhone maker’s stock worth $387,749,545,000 after purchasing an additional 26,856,752 shares during the period. Institutional investors own 67.73% of the company’s stock.

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

Positive Sentiment: Apple introduced the iPhone Duo, its first foldable iPhone, starting at $1,999. The device features a 7.6-inch unfolded display, a 5.4-inch outer screen and a redesigned hinge, creating a potential new high-margin product category and growth opportunity. Apple unveils iPhone Duo Positive Sentiment: The iPhone 18 Pro lineup adds a 2-nanometer A20 Pro chip, camera improvements, longer battery life and upgraded Siri AI features. These upgrades could support premium pricing and strengthen Apple’s artificial-intelligence strategy. Apple iPhone 18 Pro launched Positive Sentiment: Apple also launched AirPods 5, Apple Watch Series 12 and Watch Ultra 4, adding improved noise cancellation, health tracking and Apple Intelligence features. The broad hardware release may support ecosystem engagement and services revenue. Apple introduces AirPods 5 Neutral Sentiment: New CEO John Ternus used his first keynote to emphasize that the iPhone remains Apple’s core platform, signaling continuity with the company’s established strategy while adding foldable hardware and AI capabilities. Apple’s new CEO is reviving a Steve Jobs strategy Neutral Sentiment: Early reviews of the iPhone Duo were generally intrigued, but demand, production capacity and customer acceptance remain unproven. Analysts estimate the foldable could generate substantial revenue if Apple can avoid supply constraints. iPhone Duo first impressions review Negative Sentiment: Apple raised iPhone 18 Pro pricing by $100 and increased prices on older iPhone models. While higher prices could protect revenue and margins, they may limit unit demand, particularly as consumers face elevated component and memory costs. Apple raises prices on older iPhones Negative Sentiment: Huawei launched its Mate XT2 tri-fold smartphone ahead of Apple’s event, highlighting intense competition in foldables. Investors must also monitor manufacturing complexity, elevated inventory and the risk that the highly anticipated launch becomes a sell-the-news event. Huawei launches Mate XT2 Analyst Ratings Changes A number of equities research analysts have recently weighed in on AAPL shares. Wells Fargo & Company reiterated an “overweight” rating and issued a $350.00 price target (up from $310.00) on shares of Apple in a research report on Friday, July 31st. The Goldman Sachs Group initiated coverage on Apple in a research report on Monday, August 17th. They set a “buy” rating on the stock. Weiss Ratings raised Apple from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday, August 3rd. Tigress Financial reaffirmed a “strong-buy” rating and issued a $375.00 price objective (up from $305.00) on shares of Apple in a report on Thursday, May 14th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Apple in a research report on Tuesday. One equities research analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, twelve have assigned a Hold rating and four have assigned a Sell rating to the stock. Based on data from MarketBeat.com, Apple has a consensus rating of “Moderate Buy” and a consensus target price of $331.53. Get Our Latest Stock Analysis on Apple

Insider Activity In related news, insider Ben Borders sold 116 shares of the firm’s stock in a transaction dated Tuesday, June 16th. The stock was sold at an average price of $295.14, for a total value of $34,236.24. Following the sale, the insider directly owned 38,713 shares of the company’s stock, valued at $11,425,754.82. This trade represents a 0.30% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, SVP Jennifer Newstead sold 1,439 shares of the business’s stock in a transaction dated Tuesday, September 1st. The stock was sold at an average price of $317.01, for a total value of $456,177.39. Following the transaction, the senior vice president directly owned 35,790 shares of the company’s stock, valued at approximately $11,345,787.90. The trade was a 3.87% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 5,872 shares of company stock worth $1,823,201 over the last ninety days. 0.06% of the stock is currently owned by insiders.

Apple Stock Down 0.3% Shares of AAPL opened at $315.34 on Thursday. Apple Inc. has a one year low of $225.95 and a one year high of $344.57. The company has a market cap of $4.60 trillion, a P/E ratio of 36.16, a P/E/G ratio of 2.74 and a beta of 1.08. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.00 and a quick ratio of 0.93. The firm has a 50 day simple moving average of $317.37 and a two-hundred day simple moving average of $291.73.

Apple (NASDAQ:AAPL – Get Free Report) last released its earnings results on Thursday, July 30th. The iPhone maker reported $2.02 earnings per share for the quarter, topping the consensus estimate of $1.89 by $0.13. The firm had revenue of $109.42 billion during the quarter, compared to analysts’ expectations of $109.04 billion. Apple had a return on equity of 135.46% and a net margin of 27.62%.The company’s quarterly revenue was up 16.4% on a year-over-year basis. During the same period in the prior year, the company earned $1.57 earnings per share. Research analysts forecast that Apple Inc. will post 8.74 EPS for the current fiscal year.

Apple Announces Dividend The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 13th. Investors of record on Monday, August 10th were given a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 0.3%. The ex-dividend date was Monday, August 10th. Apple’s dividend payout ratio is currently 12.39%.

Apple Profile (Free Report)

Apple Inc is a technology company that designs, develops and markets consumer electronics, software and digital services. Its principal products include the iPhone, Mac computers, iPad tablets, Apple Watch, AirPods and other accessories. The company also develops operating systems and applications that support its hardware products.

Apple’s services business includes the App Store, Apple Music, Apple TV, Apple Arcade, Apple Fitness+, Apple News+, Apple Pay and iCloud. These services provide digital content, payments, cloud storage and subscription offerings across the company’s ecosystem of devices.

Founded in 1976, Apple is headquartered in Cupertino, California, and serves consumers, businesses, educational institutions and government customers worldwide.

Featured Stories Five stocks we like better than Apple Qualcomm’s Data Center Bet Looks More Real After Amazon’s AI Deal GE Aerospace’s $11.75B Deal Puts Howmet Aerospace in Focus Casey’s Post-Earnings Drop May Give Investors a Better Entry Into a Quality Retailer Sovereign AI: Palantir and Nebius Cut the Cloud Cord 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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BCS Private Wealth Management Inc. lessened its position in shares of Apple Inc. (NASDAQ:AAPL – Free Report) by 15.9% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 26,925 shares of the iPhone maker’s stock after selling 5,096 shares during the period. Apple makes up about 2.3% of BCS Private Wealth Management Inc.’s portfolio, making the stock its 11th largest holding. BCS Private Wealth Management Inc.’s holdings in Apple were worth $7,791,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in AAPL. Lifetime Wealth Management P.C. bought a new position in shares of Apple in the 4th quarter valued at $41,000. ROSS JOHNSON & Associates LLC raised its holdings in shares of Apple by 1,800.0% during the 1st quarter. ROSS JOHNSON & Associates LLC now owns 190 shares of the iPhone maker’s stock worth $42,000 after buying an additional 180 shares in the last quarter. LSV Asset Management bought a new stake in shares of Apple during the 4th quarter worth $65,000. Timmons Wealth Management LLC bought a new stake in shares of Apple during the 4th quarter worth $69,000. Finally, Inspire Investing LLC acquired a new stake in Apple in the fourth quarter valued at about $76,000. Institutional investors and hedge funds own 67.73% of the company’s stock.

Apple Trading Down 0.3% AAPL opened at $315.34 on Thursday. Apple Inc. has a twelve month low of $225.95 and a twelve month high of $344.57. The company has a quick ratio of 0.93, a current ratio of 1.00 and a debt-to-equity ratio of 0.66. The company has a fifty day moving average of $317.37 and a 200-day moving average of $291.73. The stock has a market cap of $4.60 trillion, a PE ratio of 36.16, a price-to-earnings-growth ratio of 2.74 and a beta of 1.08.

Apple (NASDAQ:AAPL – Get Free Report) last issued its quarterly earnings results on Thursday, July 30th. The iPhone maker reported $2.02 EPS for the quarter, beating analysts’ consensus estimates of $1.89 by $0.13. Apple had a net margin of 27.62% and a return on equity of 135.46%. The business had revenue of $109.42 billion for the quarter, compared to analysts’ expectations of $109.04 billion. During the same quarter in the prior year, the firm posted $1.57 earnings per share. The business’s quarterly revenue was up 16.4% compared to the same quarter last year. On average, sell-side analysts predict that Apple Inc. will post 8.74 EPS for the current year. Apple Dividend Announcement The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 13th. Stockholders of record on Monday, August 10th were paid a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date of this dividend was Monday, August 10th. Apple’s payout ratio is currently 12.39%.

Insider Activity In related news, SVP Jennifer Newstead sold 1,439 shares of the firm’s stock in a transaction that occurred on Tuesday, September 1st. The stock was sold at an average price of $317.01, for a total transaction of $456,177.39. Following the completion of the sale, the senior vice president owned 35,790 shares of the company’s stock, valued at $11,345,787.90. This trade represents a 3.87% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Ben Borders sold 116 shares of the firm’s stock in a transaction that occurred 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 sale, the insider directly owned 38,713 shares of the company’s stock, valued at $11,425,754.82. This represents a 0.30% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last 90 days, insiders have sold 5,872 shares of company stock worth $1,823,201. 0.06% of the stock is owned by corporate insiders.

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

Positive Sentiment: Apple introduced the iPhone Duo, its first foldable iPhone, starting at $1,999. The device features a 7.6-inch unfolded display, a 5.4-inch outer screen and a redesigned hinge, creating a potential new high-margin product category and growth opportunity. Apple unveils iPhone Duo Positive Sentiment: The iPhone 18 Pro lineup adds a 2-nanometer A20 Pro chip, camera improvements, longer battery life and upgraded Siri AI features. These upgrades could support premium pricing and strengthen Apple’s artificial-intelligence strategy. Apple iPhone 18 Pro launched Positive Sentiment: Apple also launched AirPods 5, Apple Watch Series 12 and Watch Ultra 4, adding improved noise cancellation, health tracking and Apple Intelligence features. The broad hardware release may support ecosystem engagement and services revenue. Apple introduces AirPods 5 Neutral Sentiment: New CEO John Ternus used his first keynote to emphasize that the iPhone remains Apple’s core platform, signaling continuity with the company’s established strategy while adding foldable hardware and AI capabilities. Apple’s new CEO is reviving a Steve Jobs strategy Neutral Sentiment: Early reviews of the iPhone Duo were generally intrigued, but demand, production capacity and customer acceptance remain unproven. Analysts estimate the foldable could generate substantial revenue if Apple can avoid supply constraints. iPhone Duo first impressions review Negative Sentiment: Apple raised iPhone 18 Pro pricing by $100 and increased prices on older iPhone models. While higher prices could protect revenue and margins, they may limit unit demand, particularly as consumers face elevated component and memory costs. Apple raises prices on older iPhones Negative Sentiment: Huawei launched its Mate XT2 tri-fold smartphone ahead of Apple’s event, highlighting intense competition in foldables. Investors must also monitor manufacturing complexity, elevated inventory and the risk that the highly anticipated launch becomes a sell-the-news event. Huawei launches Mate XT2 Analysts Set New Price Targets AAPL has been the topic of a number of recent analyst reports. Moffett Nathanson reiterated a “neutral” rating and issued a $304.00 target price on shares of Apple in a research report on Tuesday. Oppenheimer reissued a “market perform” rating on shares of Apple in a research note on Friday, July 31st. TD Cowen boosted their target price on shares of Apple from $350.00 to $400.00 and gave the stock a “buy” rating in a research note on Friday, July 31st. Evercore reiterated an “outperform” rating on shares of Apple in a report on Tuesday, August 25th. Finally, Rothschild & Co Redburn set a $400.00 price target on Apple and gave the company a “buy” rating in a research note on Monday, August 17th. One research analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, twelve have issued a Hold rating and four have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $331.53.

View Our Latest Analysis on AAPL

About Apple (Free Report)

Apple Inc is a technology company that designs, develops and markets consumer electronics, software and digital services. Its principal products include the iPhone, Mac computers, iPad tablets, Apple Watch, AirPods and other accessories. The company also develops operating systems and applications that support its hardware products.

Apple’s services business includes the App Store, Apple Music, Apple TV, Apple Arcade, Apple Fitness+, Apple News+, Apple Pay and iCloud. These services provide digital content, payments, cloud storage and subscription offerings across the company’s ecosystem of devices.

Founded in 1976, Apple is headquartered in Cupertino, California, and serves consumers, businesses, educational institutions and government customers worldwide.

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Apple on Wednesday unveiled a highly anticipated foldable version of the iPhone along with other consumer tech devices embedded with artificial intelligence in the first major product event under the leadership of new CEO John Ternus.

Wednesday's event marked the first major product launch since Ternus stepped into the top job at Apple after former CEO Tim Cook stepped down at the end of August after 15 years leading the company.

Ternus has worked at Apple since 2001, primarily in its product design and hardware engineering teams, and brings deep knowledge of key products like the Mac, iPad, iPhone, Apple Watch and AirPods to the role.

The two Apple veterans joked about the transition during the event, with Cook appearing in a video about how to start the presentation that ended with a closeup of the former CEO saying, "Not me. That's your guy," and pointing back to Ternus.

APPLE UNVEILS FIRST FOLDABLE IPHONE, IPHONE 18 PRO LINEUP, NEW WATCHES AT ANNUAL LAUNCH EVENT

Apple CEO John Ternus and Apple's vice president of industrial design, Molly Anderson, show off the new iPhone Duo during an Apple event at the Steve Jobs Theater in Apple Park in Cupertino, California, on Sept. 9, 2026. (Karl Mondon / AFP via Getty Images)

Leander Kahney, editor and publisher of Cult of Mac, spoke with FOX Business following Apple's event and said that Ternus does a "very good job of putting a human face on the big corporation that is Apple."

"He talked a lot about the team, about the people behind the products and what a privilege it was to be able to lead the team, and he thanked them at the end," Kahney said. "I think that's something Steve Jobs used to do, and it's a good continuation of that, to acknowledge that he's not just the one guy – that he might be the face of Apple, but it's definitely a big team of people behind him."

Here's a look at some of the key topics discussed during Apple's event.

APPLE ENTERS A NEW ERA AS JOHN TERNUS TAKES OVER AS CEO

iPhone DuoThe new iPhone Duo, which is foldable and offers the largest ever iPhone display, will come with a starting price of $1,999. Duo's 7.6-inch display is 50% larger than the iPhone 18 Pro Max, and when opened is also the thinnest iPhone. It comes with storage options from 256 GB to 2 TB and serves as Apple's entry into the foldables market that has been dominated by Android devices.

The Duo's folding system is made of more than 100 small precision components, and Apple said that it used AI algorithms during manufacturing to match each hinge with its best-fit housing to ensure perfect alignment.

The iPhone Duo is Apple's first foldable smartphone. (David Paul Morris/Bloomberg via Getty Images)

"I think it's going to be really popular," Kahney said. "It combines portability with the big screen. Performance seems to be fantastic. It looks like it's a really good phone for gaming and for productivity, of course, for working on the go. The cameras look pretty good – they're obviously not the best cameras, but they look plenty good enough for all those everyday uses."

Kahney added that the selfie feature was a "very clever" use case, as it allows users to not have to rely on a camera when setting up a group picture and will instead wait until people are in the picture and begin taking pictures automatically.

The Duo will be available starting on Oct. 23, with pre-orders opening a week earlier at 5 a.m. PT on Oct. 16.

APPLE POSTS RECORD JUNE QUARTER AS IPHONE SALES SURGE; COOKS WEIGHS IN ON AI, CHINA

Apple CEO John Ternus speaks during the keynote address at Apple’s "Surprise and Shine" event at the company's corporate headquarters, Apple Park, on Sept. 9, 2026 in Cupertino, California. (Benjamin Fanjoy/Getty Images)

Apple ecosystem"The key thing with Ternus was talking about the Apple ecosystem," Kahney said. "Being a product guy, he's worked on all of these different things – the Apple Watch, the iPad, the iPhone. And this is Apple's strength, I think, having an ecosystem of products that complement each other and work well together."

"They had new phones, new AirPods, new Apple Watches – all of them powered by AI," Kahney said. "AI, of course, is going to have a massive impact on the kind of experiences and the kind of things you can do with watches, with tech products, and they seem to be well-integrated."

Apple unveiled AirPods 5, which have "industry leading" active noise cancellation, improved sound quality, hands-free Siri AI and live translation, the company said. The devices start at $129.

Apple unveiled the AirPod 5 Hero on Sept. 9, 2026. (Apple Inc.)

The Apple Watch Series 12 boasts an updated health sensing system, including higher-frequency heart rate and heart rate variability measurements. Those updates pair with a redesigned Health app to track users' workouts, sleep, heart rate and more. The Apple Watch Series 12 starts at $399.

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The Apple Watch Series 12 offers new AI features. (David Paul Morris/Bloomberg via Getty Images)

Artificial intelligenceAI features were a notable focus in the latest products Apple rolled out at the event, and Ternus himself said that if you were designing a new product from scratch that would serve as an AI-powered personal hub, it would look a lot like the iPhone.

"There's no product in the world better designed to be your intelligent personal hub than iPhone," Ternus said. "As your personal hub, your iPhone can do so much more for you because it understands your context. This includes your calendar, your relationships, your routines, the most private details of your daily life."

Ternus said that Apple Intelligence runs on devices whenever it can to protect users' data, calling it "personal intelligence that's actually personal," and outlined how AI is making the company's products more capable.

"From Siri becoming more capable and more personal across your Apple products, to meaningful health insights with Apple Watch, to powerful new AirPods, features like live translation, and so much more," Ternus said.

Ticker Security Last Change Change % AAPL APPLE INC. 315.34 -0.88 -0.28% GET FOX BUSINESS ON THE GO BY CLICKING HERE

Kahney noted the Apple Watch's live rewind tool, which can provide subtitles for conversations and summarize important discussions for reference.

"It's very smart for Apple to take an Apple Watch, which a lot of people wear these days, and layer in those kinds of AI features without coming up with a whole new product," Kahney said.