Apple on Friday sued OpenAI in federal court in Northern California, alleging trade secret theft, saying that the artificial intelligence lab took the iPhone maker's intellectual property in order to develop its own consumer hardware.
"This much is clear, however: at every level, from members of its Technical Staff to its Chief Hardware Officer, and in coordination with business partners, OpenAI has been stealing Apple's trade secrets and confidential information," the company said in a legal filing.
It's a shocking reversal for the two companies, which entered into a high-profile partnership in 2024 when ChatGPT was integrated into the iPhone's operating system. OpenAI CEO Sam Altman visited Apple's headquarters for the announcement.
But relations between the two companies have chilled since OpenAI announced plans to enter the hardware industry last year, when it bought former Apple designer Jony Ive's startup, called IO Products, for $6.4 billion.
Apple's updated version of its Siri assistant, which is coming out this fall, is based on Google's Gemini AI models instead of ChatGPT.
Most of Apple's allegations involve former employees who have interviewed with or joined OpenAI.
Read more CNBC tech newsAnduril CEO says it's bad to IPO in 'middle of a hype cycle'Palo Alto CEO Arora says AI pricing needs to fall 90% as token costs skyrocketOpenAI's newest AI model is 54% more token efficient on agentic coding, Altman tells CNBCMeta jumps into AI coding market in effort to chase Anthropic and OpenAIApple alleged that OpenAI's chief hardware officer, Tang Tan, who is a former Apple vice president, has directed Apple employees interviewing at OpenAI to share Apple secrets as part of the interviewing process. Tan is named as a defendant in the suit.
"He has directed job candidates still working for Apple to bring 'actual parts' from Apple to their interviews for 'show and tell' sessions in which he and his team at OpenAI can elicit still more Apple confidential information," Apple said in the filing.
Apple alleged that OpenAI coached departing Apple employees in how to evade security processes when leaving the iPhone maker, and that Chang Liu, a former employee who joined OpenAI, stole an Apple laptop. Liu is named as a defendant in the suit.
It also said that Apple believes that OpenAI is asking hardware firms to carry out a metal finishing technique that Apple invented, while "misleading the partner to believe they had Apple's permission to do so."
"Recently, significant evidence has emerged suggesting individuals employed by OpenAI wrongfully took Apple's secret and confidential information regarding our unreleased technologies, processes, and products," an Apple representative told CNBC in a statement.
IO Products is also named in the lawsuit.
OpenAI hasn't announced when or what its hardware products will be, but Altman said in November that it had finished its first prototypes.
Apple did not comment on whether the lawsuit will affect the partnership with OpenAI in which the lab's ChatGPT is integrated into Apple Intelligence.
Apple is seeking damages, injunctions, and an order to force OpenAI to stop using its trade secrets.
Apple sued OpenAI and two ex-employees in a bombshell suit accusing them of stealing the consumer tech giant’s trade secrets.
The complaint alleging coordinated theft of product designs, manufacturing processes and supply chain strategies was filed Friday in the US District Court for the Northern District of California.
“This case is about Apple’s former employees stealing Apple’s trade secrets for the benefit of OpenAI. Apple brings this suit to put a stop to it,” the lawsuit stated, according to 9 to 5 Mac.
The complaint alleged theft of product designs, manufacturing processes and supply chain strategies. AP Photo/Matthias Schrader The sued employees were identified as Chang Liu, a former senior system electrical engineer at Apple, and Tang Yew Tan, a former VP of product design. They reportedly went to work for OpenAI in 2024 and this year, respectively — taking unreleased Apple tech with them, the suit alleged.
Liu was accused of failing to return an Apple-issued work laptop, later exploiting a bug to access the company’s internal network and downloading “dozens of Apple’s confidential hardware-related files.”
The suit said Tan “has been methodically using Apple’s confidential information to benefit OpenAI” –emailing himself info about the company’s suppliers and internal industry summaries before his exit.
The suit seems sure to throw a monkey wrench into a high-profile partnership Apple and OpenAI launched in 2024, with the consumer hardware company integrating the AI lab’s tech into the iPhone operating system.
Tang Yew Tan, a former VP of product design. linkedin/tangtan/
Chang Liu, a former senior system electrical engineer at Apple. linkedin/chang-liu Apple has been on a drive to increase its AI efforts after lagging behind competitors for years.
OpenAI recently ventured into the hardware space, buying io Products — founded by former Apple designer Jony Ive — in a $6.5 billion deal last year. Tan worked for Ive, according to 9 to 5 Mac.
“At Apple, our teams are constantly developing breakthrough technologies to create the best products and services in the world, and protecting their work and intellectual property is something we take very seriously,” Apple told The Post in a statement.
OpenAI recently ventured into the hardware space, buying io Products — founded by former Apple designer Jony Ive — in a $6.5 billion deal last year. Tan worked for Ive, according to 9 to 5 Mac. OpenAI CEO Sam Altman, above. Getty Images “Recently, significant evidence has emerged suggesting individuals employed by OpenAI wrongfully took Apple’s secret and confidential information regarding our unreleased technologies, processes, and products. We will always defend our teams’ hard work and innovations, and we are taking all appropriate steps to do so.”
By You're currently following this author! Want to unfollow? Unsubscribe via the link in your email.
and Stephen Council You're currently following this author! Want to unfollow? Unsubscribe via the link in your email.
Illustration by Thomas Fuller/SOPA Images/LightRocket via Getty Images Apple filed suit against OpenAI on Friday, alleging the AI giant illegally gained access to trade secrets after former Apple employees discovered they could still access its systems following their departure for OpenAI.
OpenAI and Apple did not immediately respond to requests for comment from Business Insider.
This is a developing story. Please check back for updates.
Read next
Katherine Tangalakis-Lippert is a senior reporter on Business Insider's West Coast team. When she's not writing about trending business and tech news, from the latest supply chain snarls or advancements in AI, she covers the food and restaurant industries, specifically companies such as Starbucks and McDonald's.Some of her prior areas of focus have included coverage of the Supreme Court and emerging technologies such as quantum computing.Katherine has worked on award-nominated projects and has appeared on Good Morning America, NBC, CNN, and other outlets to discuss her reporting.Prior to joining Business Insider, she covered retail, hospitality, and nonprofits at the San Fernando Valley Business Journal and received a master's degree in investigative reporting from the University of Southern California.Reach outDo you have feedback or a story tip? Contact Katherine on Signal at byktl.50, or email her at [email protected] her on Twitter and Instagram @scrawlgirl.Some of her recent scoops, exclusives, and original stories include: Starbucks set up a new office. It's a 5-minute drive from the CEO's California home.Inside Starbucks' crackdown on cup notesEndless Shrimp was Red Lobster's rock bottom. Now it's clawing back.Chipotle's new PAC signals a change in how the company engages in politicsKFC lost its footing in the Chicken Wars. Now it's gunning for a 'Kentucky Fried Comeback.'A few other highlights include: Clarence Thomas raised him 'as a son.' Now he's facing 25-plus years on weapons and drug charges.Call her Ivanka Kushner'Maybe I'll just resign:' Federal workers react to DOGE productivity emailSpaceX launches cause late-night booms that rattle windows, set off car alarms, and may damage property. Locals are pushing back.The US-China tech race is moving from chips to the raw materials they're made of
Stephen Council You're currently following this author! Want to unfollow? Unsubscribe via the link in your email.
Stephen is a Senior Tech Reporter at Business Insider, covering OpenAI, Anthropic and the ecosystem around the leading artificial intelligence companies.Previously he covered technology at SFGATE, and has written for The Wall Street Journal, The Information and CNBC. He studied journalism and economics at Northwestern University.His work has earned an SF Press Club Investigative Reporting Award and, in 2025, SPJ NorCal’s Excellence in Journalism Award for Technology Reporting.Stephen lives in San Francisco. Contact him via email at [email protected], or on Signal, Telegram, or WhatsApp at 415-757-8198. Use a personal email address, a nonwork WiFi network, and a nonwork device; here's our guide to sharing information securely.
Apple is expected to grow free cash flow in 2026—a rarity among Big Tech stocks. (Michael Nagle/Bloomberg)
Shoring up a portfolio with defensive stocks typically means buying stable names from seemingly boring categories: Consumer staples, utilities, medical devices. These days, you can just buy Apple stock instead.
From Post-Jobs Uncertainty to a Trillion-Dollar Machine When Tim Cook took the corner office at Apple (NASDAQ:AAPL | AAPL Price Prediction), skeptics wondered whether the company could keep innovating without Steve Jobs. Cook answered by scaling the iPhone into a global juggernaut, building Services into a high-margin recurring engine, and adding franchises like Apple Watch, AirPods, and Apple Vision Pro.
The results speak loudly. Cook reinstated the dividend, ran the largest buyback program in corporate history, and shepherded the company past the $1 trillion, $2 trillion, $3 trillion, and now $4.6 trillion market cap milestones. The most recent quarter delivered $111.18 billion in revenue and a Services record of $30.98 billion, with an installed base above 2.5 billion active devices.
What a $10,000 Cook-Era Stake Looks Like Today Using split-adjusted prices, here is how the math shakes out across standard horizons versus the S&P 500.
Since Cook Became CEO
Initial Investment: $10,000 (roughly 868 shares at $11.5197) AAPL Total Return: 2,708.16% Current value: $280,816 S&P 500 (same period): 536.61% Apple S&P 500 1-Year Return 50.36% 50.36% 5-Year Return 123.54% 72.60% 10-Year Return 1,332.39% 252.25% Apple beat the benchmark at every horizon. Holders endured real pain along the way, including the 2022 correction that cut the stock nearly in half, but buybacks and Services quietly compounded through every rough patch.
Grading Cook and Succession Whispers The Cook-era grade: A. He inherited a hit product and built the most profitable platform in tech history, with return on equity now at 115.1%.
Succession chatter has grown louder, with hardware chief John Ternus frequently floated as a potential successor. Cook has given no signal of stepping back, though timing risk deserves a small discount on a stock trading at a 38x trailing P/E.
The Case for Buying Now The bull case rests on Apple Intelligence eventually catching up with its artificial intelligence peers, the new roughly $30 billion Broadcom (NASDAQ:AVGO) U.S.-made chip agreement reducing supply risk, and Services continuing to grow at double-digit percentages. The bear case centers on the EU Digital Markets Act court loss and App Store rulings gutting the Services take rate, or the AI gap widening further. On balance, the setup leans cautiously constructive. It is a great business, but priced like one.
Act now: the analyst who called NVIDIA in 2010 just named his top 10 AI stocks — and Apple didn't make the cut. Grab the names FREE today.
Apple (NASDAQ:AAPL | AAPL Price Prediction) just signed a $30 billion multiyear deal with Broadcom for U.S.-made custom silicon and is closing in on Nvidia for the largest market cap in the world. Shares are up 15.49% year to date and sit at $313.39.
Can Apple ride its AI infrastructure pivot to $500 per share by 2030? Here is what the math says.
Why Apple Shares Face a Near-Term Ceiling Shares are up 6.46% over the past week and 49.82% over the past year. The stock trades 1% from its 52-week high of $317.40, and CFO Kevan Parekh flagged that memory costs will drive an increasing impact on our business beyond the June quarter.
Fresh App Store litigation, where developers accuse Apple of defying a 2021 injunction, broadens the risk profile. Beta of 1.097 means Apple needs a real earnings catalyst to break out rather than a beta-fueled melt-up.
Wall Street Sees 1% Upside. Our Model Says 12%. Analyst target price sits at $315.57, essentially where shares trade today. The rating breakdown: 6 Strong Buys, 22 Buys, 16 Holds, 1 Sell, and 2 Strong Sells.
Our internal model projects a base case of $350.82 with 11.94% upside and a bull case of $400.83 within a year. Confidence is high at 90%. With quarterly earnings growth of 21.8% year over year and bullish analyst sentiment at 60%, the fundamentals argue for a higher multiple.
The Path to $500 Per Share Reaching $500 from today’s price of $313.39 would require a gain of 59.5%. With forward EPS of $9.35, a price of $500 implies a forward P/E of 53x. Our base case of $350.82 already implies 38x, meaning the bold target requires roughly 15x of additional multiple expansion over four years if EPS compounds at double digits.
Act now: the analyst who called NVIDIA in 2010 just named his top 10 AI stocks — and Apple didn't make the cut. Grab the names FREE today.
Three catalysts drive this. First, the Broadcom deal locks in silicon supply and positions Apple as an AI infrastructure supplier alongside its consumer hardware franchise.
Second, Tim Cook stated on the Q2 call that “R&D is accelerating much higher than the company overall”, funding the Apple Intelligence push.
Third, incoming CEO John Ternus called this “the most exciting time in my 25-year career at Apple Inc. to be building products and services”. The primary risk is memory cost inflation compressing that 49.3% gross margin before EPS growth catches up.
Where Apple Trades Today vs Its Earnings Power Apple currently trades at a forward P/E of 34x on $9.35 forward EPS. That is rich for a mega-cap, but defensible given nine consecutive quarters of earnings beats and a 52-week range of $200.70 to $317.40. Apple has returned 1,323.98% over the past ten years. That compounding shows what happens when installed base scale meets services monetization.
Is $500 Realistic? Getting to $500 by 2030 requires a gain of 59.5% from here. That is a reasonable stretch.
Three things need to go right: services keeps compounding double digits, Apple Intelligence becomes a genuine upgrade driver for the 2.5 billion active device installed base, and the Broadcom silicon deal converts into real AI infrastructure revenue. Memory cost shock that hits gross margins before EPS catches up derails it. We’ve outlined the blueprint for how Apple could reach $500 in 2030.
Act now: the analyst who called NVIDIA in 2010 just named his top 10 AI stocks — and Apple didn't make the cut. Grab the names FREE today.
Luxshare Precision Industry, a Shenzhen-based Apple (AAPL) supplier that assembles products including iPhones and AirPods, came under pressure in its Hong Kong
Key Takeaways Apple signed a $30B multi-year chip agreement with Broadcom, extending supply through 2031.ETFs like XLK and GXPT hold Apple and Broadcom among their top portfolio positions.The deal supports U.S. chip manufacturing and strengthens Apple's long-term AI and supply-chain strategy. Apple's (AAPL - Free Report) recent announcement of a landmark chipmaking agreement, worth more than $30 billion, with Broadcom (AVGO - Free Report) has sent ripples through the tech sector, with the latter’s shares climbing nearly 5% on the bourses following the news.
This multi-year deal, which secures Broadcom as a key supplier of critical radio frequency (RF) and custom application-specific integrated circuit (ASIC) chips through 2031, producing over 15 billion U.S.-made chips, underscores the deepening strategic ties between the two tech giants.
For investors looking to capitalize on this powerful partnership without betting on a single stock, technology exchange-traded funds (ETFs) with significant exposure to both Apple and Broadcom offer a diversified path to participate in the potential upside.
But before diving straight into the specifics of these ETFs, it is crucial to understand the strategic rationale behind Apple’s $30 billion investment, how it strengthens both giants alongside the broader tech industry, and why this partnership remains critical amid the rapidly accelerating AI infrastructure build-out, so that investors can make an informed decision.
Rationale and Industry Impact of the $30B DealThe latest agreement involving the massive $30 billion investment commitment is a strategic masterstroke for both Apple and Broadcom, which will simultaneously bolster the entire U.S. tech industry.
For Apple, the deal marks its largest commitment under its American Manufacturing Program, part of a $600 billion, four-year U.S. investment plan. It ensures a stable, long-term U.S.-based supply chain for critical components like RF filters and wireless connectivity chips, helping mitigate its supply-chain risks amid geopolitical uncertainties.
For Broadcom, the agreement eliminates its single largest long-term structural risk — the possibility of Apple replacing its components with in-house chips. This gives Broadcom long-term revenue visibility and massive cash flow security, freeing up resources to aggressively pursue its fastest-growing opportunity, custom AI accelerators.
Ultimately, the broader tech sector should benefit heavily as this transaction accelerates an end-to-end silicon supply chain within the United States, reducing reliance on foreign fabrication plants.
The Future of the Partnership Amid AI AccelerationLooking ahead, this partnership is poised to become even more critical as the AI infrastructure build-out accelerates at a breakneck pace. The agreement goes beyond traditional iPhone components; it firmly positions Broadcom as a key partner in Apple's ambitious AI roadmap.
As AI models grow more complex and pivot from training to inference, the demand for specialized, power-efficient silicon will surge. Custom ASICs are highly coveted for this exact transition due to their ability to maximize performance-per-watt for neural network algorithms. This trajectory is validated by Broadcom's proven strategy of providing tailored silicon for hyperscalers like Google, Meta, and OpenAI, cementing its status as a formidable player alongside NVIDIA (NVDA - Free Report) in the AI hardware race.
For Apple, this long-term contract secures priority access to next-generation silicon, positioning both tech giants at the vanguard of the AI revolution.
ETFs to Capture the Tech BoomConsidering the aforementioned discussion, rather than picking individual winners in this rapidly evolving landscape, investors can gain diversified exposure through the following ETFs that hold both Apple and Broadcom, as well as other key tech players.
State Street Technology Select Sector SPDR ETF (XLK - Free Report)
This fund, with assets under management (AUM) worth $118 billion, offers exposure to 74 companies from technology hardware, storage and peripherals; software; communications equipment; semiconductors and semiconductor equipment; IT services; and electronic equipment, instruments and components industries. NVDA holds the first spot in this fund, with 13.24% weightage. AAPL holds the second spot with 12.67% weightage, while AVGO holds the fourth spot with 4.87% weightage.
XLK has surged 41.1% over the past year. The fund charges 8 basis points (bps) in fees and traded at a good volume of 10.53 million shares in the last trading session. It sports a Zacks ETF Rank #1 (Strong Buy).
iShares U.S. Technology ETF (IYW - Free Report)
This fund, with net assets worth $24.62 billion, offers exposure to 149 software, semiconductors, and tech hardware companies in the United States. NVDA holds the first spot in this fund, with 13.10% weightage. AAPL holds the second spot with 12.94% weightage, while AVGO holds the sixth spot with 4.31% weightage.
IYW has soared 39.5% over the past year. The fund charges 38 bps in fees and traded at a volume of 0.43 million shares in the last trading session. It sports a Zacks ETF Rank #1.
This fund, with net assets worth $10.34 billion, offers exposure to 296 U.S. and Canadian technology and select communication services companies. AAPL holds the first spot with 8.87% weightage, while AVGO holds the fourth spot with 7.79% weightage.
IGM has soared 39.8% over the past year. The fund charges 39 bps in fees and traded at a volume of 0.33 million shares in the last trading session. It sports a Zacks ETF Rank #1.
Global X PureCap MSCI Information Technology ETF (GXPT - Free Report)
This fund, with net assets worth $123.3 million, offers exposure to 87 U.S.-listed information technology companies. NVDA holds the first spot with 19.92% weightage. AAPL holds the second spot with 19.45% weightage, while AVGO holds the fourth spot with 7.40% weightage.
GXPT has rallied 29.6% over the past year. The fund charges 15 bps in fees and traded at a volume of 0.06 million shares in the last trading session. It carries a Zacks ETF Rank #2 (Buy).
Key Takeaways Global PC shipments fell 4.9% in Q2 after nine quarters of growth as memory shortages hit supply.Apple stood out with 10.1% shipment growth, helped by the MacBook Neo launch and supply management.IDC expects memory shortages to last until early 2028, keeping pricing pressure elevated into 2027. The global PC market lost momentum in the second quarter of 2026 after posting growth for nine consecutive quarters. According to a report by the International Data Corporation (“IDC”), worldwide PC shipments fell 4.9% year over year to 68.2 million units as a prolonged memory chip shortage disrupted production and limited product availability. The decline highlights that supply constraints, rather than weak customer demand alone, are becoming a major challenge for the industry.
The biggest reason behind the decline was the shortage of DRAM memory chips, per the IDC report. PC makers had previously built inventories in anticipation of supply disruptions, but that strategy is becoming harder to sustain as memory availability remains tight. Storage component shortages and geopolitical uncertainties also added pressure to manufacturing and shipments.
IDC expects the memory shortage to continue until early 2028, reducing the likelihood of another inventory build-up and slowing market growth through the rest of 2026 and into 2027.
A Glance at Top PC Vendors’ Performance in Q2Among the leading PC makers, Lenovo Group Limited (LNVGY - Free Report) remained the global leader with 16.6 million shipments and a 24.4% market share, although its shipments slipped 2.1% from a year earlier. HP Inc. (HPQ - Free Report) experienced the sharpest decline among the top three vendors, with shipments dropping 9% to 13 million units. HP ended the second quarter with a market share of 19.1%. Dell Technologies Inc. (DELL - Free Report) also posted a 5% decline, shipping 9.3 million PCs while maintaining a 13.6% market share.
Apple Inc. (AAPL - Free Report) was the standout performer in the quarter. Shipments rose 10.1% year over year to 6.7 million units, increasing its market share to 9.9% from 8.5% a year ago. According to IDC, the successful launch of the MacBook Neo, combined with strong supply chain management, helped Apple grow despite industry-wide cost pressures. ASUS delivered stable results, with shipments remaining nearly unchanged at 5 million units, with a market share of 7.4%.
Emerging Trends in the PC IndustryAlthough PC shipment volumes declined in the second quarter, the industry's revenue picture remains stronger than the shipment data suggests. IDC stated that PC makers have successfully passed rising component costs on to customers by increasing product prices. As a result, many vendors are earning more revenues, even while selling fewer systems.
However, this trend comes with risks. Higher PC prices may cause consumers and businesses to delay replacement purchases, especially if economic conditions remain weak. IDC expects the memory shortage to continue until early 2028, meaning pricing pressure could remain elevated well into 2027.
Another important trend highlighted by the IDC report is the growing role of artificial intelligence (AI) in the PC market. Businesses and consumers are increasingly looking for devices that can process AI applications directly on PCs instead of relying entirely on cloud services. Local AI processing can improve performance while reducing cloud computing costs. However, higher hardware prices caused by expensive memory chips may slow the pace of AI PC adoption in the near term. Once memory supplies improve, the AI PC market is expected to regain stronger momentum.
IDC also pointed out an interesting trend that large vendors are gaining an edge over the smaller ones amid the ongoing supply crunch. Companies with stronger supplier relationships and greater purchasing power are better positioned to secure limited memory supplies. Their broader businesses across servers, smartphones, and other devices also provide additional leverage when negotiating with suppliers.
As a result, IDC expects further consolidation in the industry, with leading brands likely to capture a larger share of the market while smaller vendors struggle with supply constraints and rising costs.
PC Market’s Outlook Remains ChallengingIDC’s second-quarter PC shipment report indicates that supply constraints have become the biggest challenge for the PC industry. While higher prices are helping protect revenues and margins, prolonged memory shortages could slow the PC upgrade cycle over the next several quarters. Companies with strong supply chains and pricing power are likely to perform better than smaller rivals.
Investors should closely watch memory availability, pricing trends and AI PC demand, as these factors will play a major role in shaping the industry's recovery over the next two years.
Of the leading vendors, Dell Technologies and Lenovo each sport a Zacks Rank #1 (Strong Buy) at present. Meanwhile, HP and Apple each carry a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank stocks here.
SummaryCompaniesLuxshare shares fall as much as 9.6% on debutInvestors more selective amid fundraising rush, volatilityHong Kong market grappling with lock-up expirationsHONG KONG, July 9 (Reuters) - Shares of Luxshare Precision Industry led losses among IPO debutants in Hong Kong on Thursday after raising HK$24.27 billion ($3.10 billion) in the city's biggest listing this year, as investors became more selective amid a fundraising rush and rising volatility.
The stock dropped as much as 9.6% to a low of HK$57.2 compared with its offer price of HK$63.28. At market close, it last traded at HK$60 a share.
Make sense of global markets with the Trading Day newsletter. Sign up here.
Luxshare's debut is the latest in a line of share offerings by Chinese technology and advanced manufacturing firms in Hong Kong, as they seek to fund expansion and research in electronics, chips and artificial intelligence.
Knowledge Atlas Technology (2513.HK), opens new tab, also known as Zhipu AI, launched a roughly $4 billion Hong Kong share placement on Wednesday with shares climbing another 11.3% on Thursday, while chipmaker Nexchip Semiconductor priced its Hong Kong listing this week to raise about HK$6.98 billion.
However, these offerings have run into a volatile market driven by a tech-stock pullback and renewed geopolitical tensions. A record wave of lock-up expirations after a strong first half for new listings is also casting a shadow.
Most of the six other Hong Kong debutants also received lukewarm welcomes on Thursday. Electronic test equipment maker Rigol and circuit-board tool maker DTech slid below their offering prices, while e-paper display maker DKE (1770.HK), opens new tab and ceramic electronic parts maker CCTC notched small gains.
Food company Qiyunshan Food (2797.HK), opens new tab surged nearly threefold to a high of HK$26 per share, while Rokae Robotics (3752.HK), opens new tab was up 15.2%.
"The underperformance of some new listings likely reflects a more cautious market backdrop and broader uncertainties surrounding global trade and geopolitics," said Chokwai Lee, a director at Morningstar.
The weak debuts show investors are growing more selective about richly valued companies, as well as a more cautious stance on the pace of AI adoption following a recent pullback in the chip rally, he added.
Chinese tech firms which listed in droves months ago are faced with investor profit-taking starting this month. MiniMax Group (0100.HK), opens new tab plunged as much as 18% on Thursday as the company's first large post-listing lock-up period expired, freeing up roughly 45% of its issued share capital for public trading.
APPLE SUPPLIERFounded in 2004 by Wang Laichun and her brother, Wang Laisheng, Luxshare makes parts, modules and finished products used in consumer electronics, cars, communications gear and data centres.
Luxshare is one of Apple's (AAPL.O), opens new tab largest suppliers. Its products include parts used in smartphones, laptops, smart wearables, wireless charging modules, routers and video-conferencing equipment.
The company, which is already listed in Shenzhen (002475.SZ), opens new tab with shares up 3.2% on the day, is raising money in Hong Kong to fund overseas growth, research and development, factory expansion and debt repayment.
Cornerstone investors, or large investors that agree to buy shares before listing, include Temasek-linked funds, HHLR Advisors, GIC, CPE, Greenwoods, Foresight Funds and Abu Dhabi Investment Authority, according to its listing prospectus.
Luxshare's net profit rose 24.6% to 18.17 billion yuan ($2.7 billion) in 2025, while revenue climbed 23.6% to 332.34 billion yuan, the prospectus said.
($1 = 7.8402 Hong Kong dollars)
Reporting by Jiaxing Li and Selena Li in Hong Kong, Yantoultra Ngui in Singapore; Editing by Jacqueline Wong, Jamie Freed and Thomas Derpinghaus
Our Standards: The Thomson Reuters Trust Principles., opens new tab
Yantoultra Ngui is the Southeast Asia Deals Correspondent of Reuters in Singapore, covering M&A and capital market activities in a region that is fast emerging as one of the world’s biggest economies. He previously was a reporter at Bloomberg and The Wall Street Journal (WSJ). Notably, he was part of WSJ's team that covered the financial scandal at Malaysian state fund 1MDB, and that won SOPA Excellence in Breaking News award for the coverage of the assassination of Kim Jong Nam, the half-brother of North Korea's leader Kim Jong Un, in Malaysia in 2018. Yantoultra graduated with an MBA in Finance from Universiti Putra Malaysia (UPM) in 2010.
2:30pm: Fed minutes signal risks Federal Reserve officials unanimously agreed to keep interest rates unchanged at their latest policy meeting, although a few participants said there was a case for raising rates, according to minutes released Wednesday.
The minutes showed most policymakers remained concerned that inflation could prove more persistent than expected, citing risks tied to strong artificial intelligence-related demand, tensions in the Middle East and the potential impact of tariffs. Those factors, they warned, could warrant further monetary tightening if price pressures intensify.
Federal Reserve staff also revised their economic outlook, raising inflation forecasts for 2026 and 2027 while lowering GDP growth projections. The updated forecasts highlighted upside risks to inflation, reinforcing concerns that progress toward the central bank's 2% target could be slower than previously anticipated.
1:30pm: Oil prices surge Oil prices surged and stocks came under pressure after the U.S. Treasury revoked a license that had allowed Iran to export oil globally, heightening concerns about potential supply disruptions. West Texas Intermediate crude rose more than 5% to trade above $73 a barrel, while Brent crude climbed past $80 a barrel, adding to inflation worries and raising expectations that the Federal Reserve could keep monetary policy tighter for longer.
Kathleen Brooks, research director at XTB, said markets currently view the situation as a contained and temporary disruption rather than the start of a broader conflict. “The prevailing view is that this is short term issue that will get ironed out, and it will not trigger a broader conflict,” she said.
Brooks warned that a formal declaration of war by both sides could dramatically change the outlook, potentially pushing oil prices back toward $100 a barrel, prompting a long-term repricing of interest rate expectations and further weakening investor risk appetite.
12:05pm: Energy risks weigh on metals Bank of America has cut its price forecasts for several base and precious metals, warning that lingering uncertainty over potential energy supply disruptions and a challenging macroeconomic backdrop are likely to pressure mined commodities through the autumn.
The bank said concerns about an energy shock remain an overhang despite easing hostilities in the Middle East, while the prospect of tighter US monetary policy and a stronger US dollar continues to weigh on sentiment, particularly for gold.
However, Bank of America expects the longer-term outlook for industrial metals to improve, citing constrained supply and resilient demand driven by global electrification. "Still, tight supply and resilient demand from the electrification of the global economy should ultimately be supportive for copper and aluminium, so we see scope for a recovery in prices after the summer," the bank said.
11:00am: Apple strikes Broadcom deal Apple Inc (NASDAQ:AAPL, XETRA:APC) (Apple Inc (NASDAQ:AAPL, XETRA:APC), Apple Inc (NASDAQ:AAPL, XETRA:APC)) announced a new multiyear agreement with Broadcom Inc (NASDAQ:AVGO, XETRA:1YD) (Broadcom Inc (NASDAQ:AVGO, XETRA:1YD), Broadcom Inc (NASDAQ:AVGO, XETRA:1YD)) valued at more than $30 billion to design and manufacture custom silicon components and wireless connectivity technologies in the United States, marking the company's largest commitment under its American Manufacturing Program.
The agreement is expected to result in the production of more than 15 billion chips in the US and includes a $1.5 billion expansion and modernization of Broadcom's manufacturing facility in Fort Collins, Colorado. Apple said the investment will support hundreds of US jobs.
Under the agreement, Broadcom will manufacture advanced radio frequency components, including FBAR filters, as well as wireless connectivity technologies used in Apple products.
Apple said the deal advances its efforts to build a domestic silicon supply chain and forms part of its broader pledge to invest $600 billion in the US economy over four years through manufacturing, job creation and technology development.
10am: Wall Street starts in the red Wall Street stocks have mostly opened in the red, after government bond yields climbed to around a seven-week high following the surge in oil prices.
The Dow Jones fell 1%, the S&P 500 dropped 0.5%, and the Nasdaq has lost 0.3%.
Sherwin-Williams, Home Depot, IBM and Boeing were among the biggest fallers on the Dow, while materials stocks led the declines on the S&P, with Smurfit WestRock, International Flavors & Fragrances, Amcor and PPG Industries among the biggest fallers.
Moderna, Palantir, ResMed, Universal Health Services and Axon Enterprise also featured prominently on the losers' list, all down 4-3%.
Top risers on the Nasdaq were AI-related, with semiconductor and storage stocks higher: SanDisk, Western Digital, Broadcom, Applied Materials, Lam Research and Arm Holdings all posting 2%-plus gains.
Baker Hughes also advanced as higher oil prices lifted energy shares, while Pinduoduo climbed as part of a wider support for Chinese tech names today.
8.15am: Stocks called lower as oil surges, Iran ceasefire 'over' US stocks are expected to extend losses on Wednesday after oil prices spiked following an exchange of strikes between the US and Iran that led to President Donald Trump declaring the ceasefire "over".
Dow Jones futures were down 1.1%, with S&P 500 futures pointing to a 0.9% drop, while those for the Nasdaq were off 1.3%.
A day earlier, the Nasdaq led the declines, falling 1.2% to 25,819 as chipmakers came under pressure, with the S&P slipping 0.5% to 7,504 and the Dow finishing down 0.3% to 52,925 after briefly hitting a new high above the 53,000 mark earlier.
This came as oil prices started rising following reports of attacks on commercial ships in the Strait of Hormuz.
Then overnight, US forces launched strikes against more than 80 targets in Iran, with Central Command reporting that these were aimed at command-and-control networks, coastal radar sites, anti-ship missile capabilities, and Islamic Revolutionary Guard Corps small boats.
Alongside this, the US Treasury Department revoked a waiver that had allowed Iran to restart oil exports, which was followed by Tehran resuming attacks on its Gulf neighbours, including against Bahrain and Kuwait.
When asked about the 'memorandum of understanding' deal, Trump told reporters at the Nato summit: "To me, I think it's over. I don't want to deal with them anymore. They're scum... They're led by sick people.
"I'll speak to our negotiators. They want to negotiate - they're good people... but they have to come back to me. As far as I'm concerned, it's just a waste of time dealing with them."
West Texas Intermediate crude jumped 5.4% to $74.26 a barrel, continuing a rise from just above $67 last week.
The rise in oil has fuelled inflation concerns, pushing Treasury yields higher and prompting traders to dial back expectations of interest rate cuts.
Traders now see more than an 85% chance of at least one 25-basis point rate hike from the Federal Reserve before year-end, according to the CME’s FedWatch tool.
It comes ahead of minutes from the Fed’s last monetary policy meeting in June, which will be released later.
"But," said market analyst David Morrison at Trade Nation, "with new Fed Chair Kevin Warsh unwilling to provide forward guidance, it’s debatable if the minutes will be that helpful in understanding the Fed’s outlook for rate hikes this year."
CNBC: Apple oznámil, že rozšiřuje své partnerství s výrobcem čipů Broadcom v rámci víceletého kontraktu, jehož hodnota by měla přesáhnout 30 miliard dolarů. Jde o dosud největší závazek výrobce iPhonů v oblasti výroby na území USA.
Dohoda, kterou Apple oznámil ve středu, povede k výrobě více než 15 miliard čipů vyrobených v USA a zahrnuje také investici 1,5 miliardy dolarů do rozšíření závodu Broadcomu ve městě Fort Collins ve státě Colorado. Apple neuvedl, kdy budou nové výrobní kapacity uvedeny do provozu.
Broadcom je dlouhodobým dodavatelem komponentů pro konektivitu v zařízeních Apple, nová dohoda však tuto spolupráci významně prohlubuje v oblasti zakázkových čipů vyráběných v USA. Podle Applu bude Broadcom vyrábět bezdrátové komponenty, které umožňují zařízením připojení k mobilním sítím, Wi-Fi a Bluetooth.
Broadcom v pondělí ve zprávě pro americkou Komisi pro cenné papíry a burzy (SEC) uvedl, že uzavřel s Applem nové dlouhodobé smlouvy na vývoj a dodávky „zakázkových ASIC čipů“ pro několik generací produktů Applu až do roku 2031. ASIC (Application-Specific Integrated Circuit) jsou specializované integrované obvody navržené pro konkrétní účel a stále častěji se využívají při úlohách souvisejících s umělou inteligencí.
Pro odcházejícího generálního ředitele Applu Tima Cooka představuje dohoda další krok v jeho snaze investovat do americké výroby, která je jednou z hlavních priorit administrativy prezidenta Donalda Trumpa. Jde o největší součást čtyřletého investičního plánu Applu v USA v hodnotě 600 miliard dolarů, oznámeného v roce 2025, a zároveň o dosud největší závazek v rámci programu American Manufacturing Program (AMP), jehož cílem je rozšířit domácí výrobu v dodavatelském řetězci společnosti.
„Apple spolupracuje s administrativou i podniky napříč Spojenými státy na vytvoření kompletního amerického dodavatelského řetězce pro výrobu čipů a dnešní oznámení tento cíl dále posouvá,“ uvedla společnost ve svém prohlášení.
Cook uvedl, že komponenty vyráběné ve Fort Collins jsou „nezbytné“ pro výkon a konektivitu, které zákazníci Applu očekávají. Zároveň poděkoval prezidentu Trumpovi a jeho administrativě za podporu projektu.
Generální ředitel Broadcomu Hock Tan uvedl, že závazek Applu pomůže společnosti dále rozšířit její výrobní kapacity ve Fort Collins.
Apple (NASDAQ:AAPL | AAPL Price Prediction) is trading within striking distance of a psychologically important round number. With shares at $312.66 and momentum accelerating, the real question is whether Apple can sprint another 28% higher to hit $400 in the next twelve months. Our proprietary model has an opinion, and it’s bullish, but stops short of that headline figure in the base case.
The 24/7 Wall St. Price Target for Apple Our 24/7 Wall St. price target for Apple is $350.49 over the next 12 months, implying 12.1% upside from current levels. We rate the stock a buy with 90% confidence. The $400 headline is achievable, but only if the bull case scenario plays out.
Metric Value Current Price $312.66 24/7 Wall St. Price Target $350.49 Upside 12.1% Recommendation BUY Confidence Level 90% A Stock in Full Sprint Mode Apple has been on a tear. The stock is up 10.97% in the past week alone, 15.22% year-to-date, and 46.99% over the trailing year. Shares are sitting 1% from the 52-week high of $317.40.
Fundamentals justify the ride. Q2 FY26 revenue landed at $111.18B, up 16.6% YoY, with EPS of $2.01 beating consensus by 3.61%. That marks eight consecutive quarters of EPS beats. The next earnings report is scheduled for July 30, 2026, after the close.
The Case for $400 and Beyond Our bull case scenario projects Apple at $400.38 by July 2027, a 28.06% total return. Three catalysts underpin this path. First, the iPhone 17 supercycle. Tim Cook cited “extraordinary demand for the iPhone 17 lineup”, and Polymarket traders assign a 96% probability to an iPhone 18 launch in 2026 and an 82% probability of a foldable iPhone before 2027.
Second, Services just hit a record $30.98B quarter, layering high-margin recurring revenue across an installed base of over 2.5 billion active devices.
Third, capital returns: the board authorized a fresh $100B buyback and lifted the dividend 4%. Add Greater China’s rebound to $25.53B in Q1 FY26, and $400 becomes a math problem the fundamentals can solve.
Act now: the analyst who called NVIDIA in 2010 just named his top 10 AI stocks — and Apple didn't make the cut. Grab the names FREE today.
What Could Go Wrong The bear case pins Apple at $299.53, a 4.2% drawdown. Valuation is stretched at 38x trailing earnings and a PEG of 2.494, meaning growth is largely priced in. Recent insider activity shows net selling. Prediction markets are skeptical of the $400 headline, with the highest July 2026 target of $344 carrying just 10.2% probability.
China and tariff exposure remain overhangs. That said, bulls would counter that the premium multiple reflects 21.8% earnings growth and $53.92B in quarterly operating cash flow, metrics consistent with a durable earnings franchise.
The Setup From Here My 24/7 Wall St. price target of $350.49 with 90% confidence points to a buy. Eight straight beats and accelerating revenue growth tip the scale. The bullish thesis strengthens if the July 30 earnings report confirms continued Services momentum and iPhone 17 unit strength.
The thesis weakens if China revenue reverses or if forward guidance signals a tariff-driven margin hit. $400 is a stretch goal for the next 12 months, but the risk/reward asymmetry skews positive.
Looking further ahead, here is where our model projects Apple could trade, assuming current growth trajectories and buyback cadence hold.
Year 24/7 Wall St. Price Target 2026 $325 2027 $350 2028 $385 2029 $420 2030 $450 These projections assume Apple continues executing on Services growth and product innovation. Significant upside could come from a foldable iPhone launch or breakthrough Apple Intelligence monetization. Downside risk centers on China exposure and multiple compression from the current 38x earnings multiple.
Act now: the analyst who called NVIDIA in 2010 just named his top 10 AI stocks — and Apple didn't make the cut. Grab the names FREE today.
$100 billion. That is the size of the fresh share buyback authorization Apple’s board approved alongside its fiscal Q2 2026 earnings, disclosed in the company’s 8-K filed April 30, 2026.
This announcement represents a reload of the existing program. Apple (NASDAQ:AAPL | AAPL Price Prediction) has now returned over $1 trillion to shareholders since the program began, of which more than $850 billion has come through repurchases. The board also lifted the company’s quarterly dividend 4% to $0.27 per share, with a May 14, 2026 payment date.
What It Means The number matters because this dividend is being funded by an operating machine that just posted its best March quarter on record. Apple’s revenue came in at $111.18 billion, up 16.6% year over year, with net income of $29.58 billion and operating income up 21.28% year over year. Diluted EPS of $2.01 beat the $1.9404 consensus, extending the streak to eight consecutive quarters of beating expectations.
The mix is the story behind the mix. Apple’s key segment (its iPhone business) delivered $56.99 billion on demand for the iPhone 17 lineup, while Services set an all-time record at $30.98 billion. That high-margin recurring stream is what makes an authorization this size credible rather than aspirational. Gross profit rose to $54.78 billion, up 22.1% year over year.
Perhaps most notably, every geographic segment posted double-digit revenue growth, including Greater China at $20.5 billion. Cash and marketable securities ended the quarter at $147 billion against $85 billion of debt, leaving a $62 billion net cash position to work with.
Market Reaction Shares have moved with the disclosure. Apple traded at $270.84 at the time of the April 30 filing and closed at $308.63 on July 2, 2026, a 13.84% move over that window. The one-week reading is stronger, with shares up 12.17% from $275.15 on June 25 to $308.63 on July 2. Year to date, the stock is up 13.74%, and the one-year return is 45.86%. Market cap sits at $4.53 trillion.
Bull Case Apple’s bull case rests on a simple pairing: record cash generation feeding a repurchase program that shrinks the share count while a hardware refresh and Services flywheel keep earnings compounding. In Q2 alone, Apple executed $11 billion in open-market repurchases of 42 million shares and paid $3.8 billion in dividends, for $15 billion returned in the quarter. The new $100 billion authorization extends a pattern that saw $90.71 billion returned via buybacks in fiscal 2025.
Act now: the analyst who called NVIDIA in 2010 just named his top 10 AI stocks — and Apple didn't make the cut. Grab the names FREE today.
Indeed, I’m of the view that Apple’s operating base supports it. Tim Cook told investors, “Today Apple is proud to report our best March quarter ever, with revenue of $111.2 billion and double-digit growth across every geographic segment.” He described the iPhone 17 family as “the most popular lineup in our history when looking at the launch through March” with 99% US customer satisfaction. Greater China, long a swing factor, grew 28% in the March quarter. CFO Kevan Parekh framed the philosophy plainly: “Our investment in the business comes first and foremost, and then we look to return excess cash to shareholders.”
Prediction markets are aligned with the direction of travel. Polymarket assigns an 89.5% probability that AAPL closes above $280 by end of July, and an 85% probability the stock touches $312 in July. Analyst consensus sits at $315.09 with 30 Buy, 15 Hold, and 3 Sell ratings.
Bottom Line For long-term holders, this $100 billion authorization is among the key fundamental factors worht considering for long-term investment. Indeed, it’s the reason why Warren Buffett and other world-class investors have continued to hold Apple, and for so long.
The company’s incredible profitability, reflected by Apple’s $28.7 billion of quarterly operating cash flow with a Services segment at record scale, supports its valuation. At 35x trailing earnings and 30x forward, I’d argue Apple looks fairly valued, particularly if the hardware and services tech giant can see growth reaccelerate in the coming quarters.
I also think the key future catalyst investors need to keep on their radar is the company’s June quarter guide of 14% to 17% revenue growth with gross margin of 47.5% to 48.5%. If Apple delivers into that range, the buyback will keep doing what it has done for a decade: quietly compound the per-share math.
Act now: the analyst who called NVIDIA in 2010 just named his top 10 AI stocks — and Apple didn't make the cut. Grab the names FREE today.
Apple Inc (NASDAQ:AAPL, XETRA:APC) announced a new multiyear agreement with Broadcom Inc (NASDAQ:AVGO, XETRA:1YD) valued at more than $30 billion to design and manufacture custom silicon components and wireless connectivity technologies in the United States, marking the company's largest commitment under its American Manufacturing Program.
The agreement is expected to result in the production of more than 15 billion chips in the US and includes a $1.5 billion expansion and modernization of Broadcom's manufacturing facility in Fort Collins, Colorado. Apple said the investment will support hundreds of US jobs.
Under the agreement, Broadcom will manufacture advanced radio frequency components, including FBAR filters, as well as wireless connectivity technologies used in Apple products.
Apple said the deal advances its efforts to build a domestic silicon supply chain and forms part of its broader pledge to invest $600 billion in the US economy over four years through manufacturing, job creation and technology development.
"Apple and Broadcom have a long history together, and this new phase of our partnership further accelerates our commitment to American manufacturing and innovation," Apple CEO Tim Cook said in a statement.
"The cutting-edge components built in Fort Collins are essential to delivering the incredible performance and connectivity our customers expect."
Broadcom President and CEO Hock Tan said the company was pleased to expand its manufacturing footprint in Fort Collins as part of its long-standing relationship with Apple.
Broadcom has supplied Apple with connectivity components for years. Apple said the expanded partnership will focus on producing custom silicon and wireless components used to enable cellular, Wi-Fi and Bluetooth connectivity across its devices.
The company did not disclose when the additional manufacturing capacity is expected to become operational.
Shares of Apple opened flat at about $310, while Broadcom shares added more than 2% at $379.
Index Dow Jones -0,95 % na 52423,39 b. S&P 500 -0,52 % na 7465,01 b. Nasdaq Composite -0,33 % na 25734,27 b.
Přední americké indexy se v úvodu středeční seance nachází v záporném teritoriu. Negativně se do cen akcií propisuje zvýšené geopolitické riziko po Trumpových výrocích, že křehké příměří s Íránem je u konce. Cena ropy Brent roste nad úroveň 78 USD za barel.
Apple (-0,45 %) v rámci svého závazku zvýšit výdaje na komponenty vyráběné v USA oznámila rozšíření spolupráce s výrobcem čipů Broadcom (+3,4 %). Hodnota nového kontraktu by měla přesáhnout 30 miliard USD. Součástí partnerství bude výroba více než 15 miliard čipů v USA, což podle Applu podpoří vznik stovek pracovních míst. Firma zároveň pomůže společnosti Broadcom s modernizací výrobních kapacit v americkém státě Colorado.
Index S&P 500 -0,52 % na 7465,01 b. Nejsilnější sektory S&P Změna Nejslabší sektory S&P Změna Energie +0,4 % Základní materiály -2,1 % Nezbytná spotřeba +0,1 % Zbytná spotřeba -1,4 % Informační technologie +0 % Finanční sektor -1,2 % Nejsilnější akcie S&P Změna Nejslabší akcie S&P Změna Dell Technologies (DELL) +4,6 % Smurfit Westrock (SW) -6,9 % Bunge Global SA (BG) +3,6 % Moderna (MRNA) -5,2 % Western Digital Corp (WDC) +3,6 % Palantir Technologies (PLTR) -4,8 % Akamai Technologies (AKAM) +3,5 % ResMed (RMD) -4,5 % Super Micro Computer (SMCI) +3,3 % Builders FirstSource (BLDR) -4,3 % Zdroj: Bloomberg
Jakub Němec
Fio banka, a.s.
Prohlášení
Související odkazy Pozitivní sentiment na Wall Street Apple chce navýšit výrobu skládacích iPhonů, jedná také o čipech z Číny Asijské indexy oslabují, táhnou je dolů akcie výrobců polovodičů Asijské akcie opět klesají, za týden ztrácí 5 % Wall Street v úvodu obchodování klesá, výrazně však rostou výrobci paměťových čipů v čele s Micronem
CUPERTINO, Calif.--(BUSINESS WIRE)--Apple® today announced a new multiyear commitment with Broadcom to design and produce custom silicon components and cutting-edge wireless connectivity technologies for a wide range of Apple products. The new agreement, expected to exceed $30 billion, will lead to the production of more than 15 billion U.S.-made chips and support hundreds of American jobs. Apple has been working with the administration and businesses across the U.S. to help create an end-to-en.
Europe's second-highest court on Wednesday dismissed Apple's challenge against landmark EU rules labelling its app stores and operating system iOS as gatekeepers subject to strict obligations.
Recent price increases for Apple's Mac and iPad devices and any potential hikes in iPhone prices are unlikely to significantly dampen consumer demand, according to JPMorgan, which has raised its price target on the iPhone maker and reiterated its Buy rating.
Analyst Samik Chatterjee said several positive catalysts could help Apple's revenue and earnings outperform current market expectations.
JPMorgan raised its price target on the stock to $345 from $325, implying roughly 11% upside from Tuesday's closing price.
According to JPMorgan, Apple's pricing history across its major product categories indicates only a limited relationship between higher prices and shipment volumes over the years.
The brokerage said Mac computers appear to be the most insulated from pricing changes, supported by a wider range of price points as well as growing demand driven by artificial intelligence-enabled features.
The entry-level iPhone and iPad segments are more sensitive to higher prices, JPMorgan acknowledged.
However, it believes any resulting weakness would create only "modest revenue headwinds" when viewed alongside continued demand for Apple's premium devices.
Apple increased prices across several Mac and iPad models last month by between $100 and $300 after soaring memory chip costs pushed up manufacturing expenses.
The company did not raise prices for iPhones.
The stock initially declined following the announcement but has since recovered strongly, gaining more than 10% over the past five trading sessions.
Wall Street remains optimisticJPMorgan's bullish outlook follows renewed optimism from other analysts.
Last week, Bank of America analyst Wamsi Mohan maintained a Buy rating and a $380 price target on Apple, citing stronger-than-expected App Store revenue growth and continued expansion of its high-margin services business.
Mohan expects services revenue to grow 14% year over year in Apple's fiscal third quarter and believes the company's investments in edge AI and its redesigned Siri architecture could create meaningful monetisation opportunities over time.
Together, the positive analyst commentary has helped improve sentiment around Apple's shares after a relatively subdued start to the year.
In other news, to solve its memory cost woes, the company has begun testing DRAM memory chips produced by China's state-backed ChangXin Memory Technologies (CXMT) for devices sold within China while also lobbying the US government for permission to expand the use of the supplier's products, according to a Financial Times report.
CXMT has emerged as the world's fourth-largest producer of DRAM chips, which are widely used in smartphones, personal computers, and servers.
While the company's manufacturing capacity continues to expand, analysts do not expect it to flood the market immediately.
Ray Wang, a memory analyst at SemiAnalysis, told the Financial Times that much of CXMT's production has already been committed to customers.
Nevertheless, the industry remains wary that China's state-backed investment strategy could eventually mirror what occurred in sectors such as solar panels and electric vehicles, where rapid capacity expansion ultimately drove down prices and pressured international competitors.
AAPL is simultaneously preparing what could become its broadest iPhone lineup in years.
According to supply-chain reports cited by Nikkei Asia, the company plans to launch at least five new iPhone models between the second half of 2026 and early 2027, including its first foldable smartphone.
Apple has reportedly increased planned production of the foldable device to around 10 million units from earlier estimates of 7 million to 8 million units.
The handset is expected to carry a price tag of roughly $2,500.
According to The Motley Fool, selling 10 million foldable iPhones at that price would generate approximately $25 billion in annual revenue, representing a meaningful contribution to Apple's flagship product business, although most of that benefit is expected to materialise during fiscal 2027 rather than this year.
The publication said Apple's strategy extends beyond simply introducing a new premium device.
"Put those pieces together, and the foldable looks less like a blockbuster and more like a halo. It probably won't add much to any single quarter's revenue on its own. What it can do, however, is reset the ceiling on iPhone prices, pulling some upgraders into a pricier tier. In a maturing smartphone market, defending the high end while broadening the lineup to reach more price points could be a serious lever," it said.
Apple has begun testing DRAM chips from China's state-backed ChangXin Memory Technologies for devices sold within China and is lobbying the U.S government to permit broader use of CXMT's products, the Financial Times reported on Wednesday, citing people familiar with the matter.
The company's decision comes as its involvement with Chinese suppliers becomes a sensitive geopolitical issue amid growing U.S. efforts to contain China's tech ambitions.
CXMT is poised to become central to Beijing's efforts to build a self-sufficient AI supply chain and is expected to become one of the most profitable technology companies to list in Shanghai, the FT said. It reportedly plans to raise at least 29.5 billion yuan ($4.3 billion) in an upcoming IPO.
In 2022, Apple faced significant pushback from U.S. policymakers including then-Senator Marco Rubio, who is now Secretary of State, after exploring the use of Chinese memory suppliers, the FT reported. At least 15 state-owned shareholders collectively hold 36% of CXMT, the report said, adding that many of its private funds also have backing from state-owned limited partners.
CXMT is currently the world's fourth-largest producer of DRAM, a memory chip used in a wide variety of products ranging from smartphones to servers, the report said. Its market share is expected to rise to 15% by 2028 from roughly 11% last year, as new production lines come online in the Chinese cities of Hefei, Shanghai and Beijing, the report showed, citing data from SemiAnalysis.
Its main global peers in DRAM include Samsung Electronics, SK Hynix, and Micron Technology.
While CXMT's capacity is expanding, it is unlikely to immediately flood the market with cheap chips, as its output is largely pre-committed, Ray Wang, a memory analyst at SemiAnalysis, told the FT.
Nevertheless, the industry fears a long-term repeat of patterns seen in sectors like solar panels and electric vehicles, where state-backed capacity expansion ultimately led to falling global prices and squeezed foreign rivals, the report said.
Reuters previously reported that the U.S. has held off on adding CXMT, AI startup DeepSeek, and over 100 other companies to its trade blacklist, despite them being flagged as national security risks, as the Trump administration seeks to avoid escalating tensions with Beijing.
Apple and CXMT did not immediately respond to CNBC's requests for comment.
Apple Inc (NASDAQ:AAPL, XETRA:APC)'s App Store revenue growth slowed in the June 2026 quarter, according to an analysis by UBS, which tracked third-party App Store data from Sensor Tower.
UBS analysts wrote that the App Store recorded approximately 3% year-over-year growth on a reported basis during the quarter, while growth was around 2% on a foreign exchange-neutral basis. The firm noted that growth slowed by roughly 440 basis points compared with the prior quarter, despite only a slightly more challenging comparison period.
The US market was a key source of weakness, with App Store revenue declining approximately 6% year-over-year in the quarter, UBS wrote. In other regions, the App Store grew about 9% year-over-year on a reported basis.
UBS wrote that Apple’s September 2026 quarter will face an easier comparison period, with the year-over-year growth benchmark expected to be around 10%, approximately 270 basis points lower than the June quarter comparison.
The analysts maintained their June-quarter Services revenue estimate, forecasting growth of about 14.3% year-over-year, compared with consensus expectations of roughly 14.5%.
UBS wrote that the estimate remains unchanged despite potential downside risks from slower App Store growth, noting that Apple’s Services segment continued to show strength in the March 2026 quarter, when Services revenue increased about 16.3% despite App Store growth of roughly 8%.
UBS also flagged slowing growth in generative artificial intelligence-related activity, which it views as a contributor to App Store growth. The firm wrote that AI-related growth may be moderating due to tougher comparisons and increasing market saturation.
For valuation, UBS maintained a price target of $296 for Apple shares, based on a valuation multiple of 30 times its calendar 2027 earnings-per-share estimate of $9.86. UBS wrote that the valuation reflects balanced expectations for solid demand alongside uncertainty surrounding Apple’s artificial intelligence strategy.
Shares of Apple were little changed at $313 on Tuesday afternoon.
Many trading algorithms are based on statistics and probability theory.
The red line on the chart below is two standard deviations above the 20-day moving average.
Standard Deviations: A Statistical Concept.According to statistics and probability theory, 95% of trading should occur within two standard deviations of the mean. If a stock exceeds this threshold, as Apple currently does, it is considered to be overbought.
There will be traders and investors who are anticipating a reversion to the mean or move lower. They will enter the market as sellers, and their selling could result in putting downward pressure on the shares.
In addition to being overbought, Apple is trading at a resistance level. There tends to be resistance at former peaks or resistance levels, and that could be the case here.
There are people who bought shares around $315 in late May and early June who came to think their decisions to do so were a mistake after the price dropped. Many decided to hold onto their losing positions.
But they also decided to sell them at the same price they bought them for if they could ever do so. Now that the shares have returned to this price, these remorseful buyers are placing sell orders.
The large quantity of these orders has created resistance at the price. There is a good chance the rally ends or pauses here.
Many newer traders think that news moves the market. This is sometimes true, but most of the time, when a stock makes a meaningful move, it is the result of technical factors.
Overbought stocks that reach resistance tend to stall out or even reverse. The trend indicates that Apple shares may head lower.
Image: Shutterstock
Market News and Data brought to you by Benzinga APIs
I keep hitting the buy button on Apple (NASDAQ:AAPL | AAPL Price Prediction), and the July 30 earnings report is not slowing me down. Every payday, I add a few more shares. The reasons are boring, repeatable, and they stack in my favor over years, which is the profile I want in a core holding heading into retirement. Here is what keeps pulling me back.
A cash machine that pays me to wait Apple generated $111.48 billion in operating cash flow in FY25 and returned $90.71 billion to shareholders through buybacks that same year. In April, the board authorized another $100 billion repurchase program and raised the quarterly dividend 4% to $0.27. Total capital returned since the program began now exceeds $1 trillion. The 0.34% yield looks small in isolation, but paired with ROE of 171.4% and ROIC of 53.3%, I am fine with management compounding capital inside the business instead of mailing it out.
The Services engine keeps widening the moat Q2 FY26 revenue reached $111.18 billion, up 16.6% year over year, with iPhone at $56.99 billion and Services at an all-time record $30.98 billion. Services gross margin ran at 76.7% on a base of over 2.5 billion active devices. That is a high-margin annuity riding on hardware customers already own. Tim Cook described Apple Intelligence as “woven into the core of our platforms”, and MacBook Neo demand is running so hot he flagged the company was “supply constrained”. Greater China grew 28% in the March quarter. Management guided June-quarter revenue growth of 14% to 17% with gross margin of 47.5% to 48.5%. That is what the July 30 report will confirm.
An earnings track record I trust Apple has delivered nine consecutive beats, with the last quarter posting an EPS of $2.01 against a $1.94 estimate. In the 30 days after that May report, shares rose 10.75%, outpacing SPY by 6.09 percentage points. Over the past year the stock is up 45.86%, and over ten years it is up 1,313.91% on a split-adjusted basis. That is the kind of compounding I plan around.
The risk I actually respect China exposure and the supply chain keep me disciplined. Greater China revenue was $20.50 billion last quarter, and Cook warned that “significantly higher memory costs” will pressure the June quarter. Add the CEO handoff to John Ternus effective September 1, 2026 and the execution bar is real. My response: those memory costs are already baked into the 47.5% to 48.5% margin guide, and Ternus is a 25-year Apple veteran inheriting a roadmap Cook publicly called “incredible”.
Why the buy button stays active At a P/E of 40 on a business printing 26.9% net margins at a $4.53 trillion market cap, Apple looks pricey on the screen and reasonable on the cash it will send my account over the next decade. I plan to keep buying through July 30, and the quarter after that, and the one after that.
Act now: the analyst who called NVIDIA in 2010 just named his top 10 AI stocks — and Apple didn't make the cut. Grab the names FREE today.
Apple Inc (NASDAQ:AAPL, XETRA:APC)'s App Store revenue growth slowed in the June 2026 quarter, according to an analysis by UBS, which tracked third-party App Store data from Sensor Tower.
UBS analysts wrote that the App Store recorded approximately 3% year-over-year growth on a reported basis during the quarter, while growth was around 2% on a foreign exchange-neutral basis. The firm noted that growth slowed by roughly 440 basis points compared with the prior quarter, despite only a slightly more challenging comparison period.
The US market was a key source of weakness, with App Store revenue declining approximately 6% year-over-year in the quarter, UBS wrote. In other regions, the App Store grew about 9% year-over-year on a reported basis.
UBS wrote that Apple’s September 2026 quarter will face an easier comparison period, with the year-over-year growth benchmark expected to be around 10%, approximately 270 basis points lower than the June quarter comparison.
The analysts maintained their June-quarter Services revenue estimate, forecasting growth of about 14.3% year-over-year, compared with consensus expectations of roughly 14.5%.
UBS wrote that the estimate remains unchanged despite potential downside risks from slower App Store growth, noting that Apple’s Services segment continued to show strength in the March 2026 quarter, when Services revenue increased about 16.3% despite App Store growth of roughly 8%.
UBS also flagged slowing growth in generative artificial intelligence-related activity, which it views as a contributor to App Store growth. The firm wrote that AI-related growth may be moderating due to tougher comparisons and increasing market saturation.
For valuation, UBS maintained a price target of $296 for Apple shares, based on a valuation multiple of 30 times its calendar 2027 earnings-per-share estimate of $9.86. UBS wrote that the valuation reflects balanced expectations for solid demand alongside uncertainty surrounding Apple’s artificial intelligence strategy.
Shares of Apple were little changed at $313 on Tuesday afternoon.
Apple Inc (NASDAQ:AAPL) shares are edging slightly lower Tuesday as big-cap technology names face a difficult session with the Nasdaq and the broader S&P 500 down. Here’s what you should know.
Apple stock is among today’s notable decliners. Why is AAPL stock down today? Tech Weakness Deepens as Sector Rotation Pulls Leadership Toward EnergyTechnology is one of the weakest sectors on the session dropping 1.78% while leadership has shifted toward Energy and Real Estate. Apple is holding up better than most of its large-cap peers but the weight of the broader tech selloff is enough to keep the stock in the red.
Market breadth is only mildly positive with an advance/decline ratio of 1.2 offering little in the way of a tailwind for growth names.
Apple’s Foldable iPhone DelayKuo drew a parallel to the iPhone X rollout in 2017 suggesting Apple could unveil the foldable alongside its other new models but hold back preorders and retail availability by several weeks due to manufacturing constraints.
Apple’s Key Moving Averages and TrendsFrom a technical standpoint Apple remains in a well-defined uptrend sitting approximately 5.8% above both its 20-day and 50-day moving averages, 12.5% above its 100-day and 15% above its 200-day. The golden cross established in September 2025 when the 50-day crossed above the 200-day continues to provide a longer-term constructive backdrop.
MACD is currently above its signal line with a positive histogram suggesting buyers are gradually reasserting themselves after the recent pullback. The bigger question heading into the near term is whether the stock can clear supply near its highs or needs to consolidate first following June’s swing high and an overbought RSI reading.
Key resistance sits near $317.50 in the 52-week high zone while $287.50 represents the next meaningful support level below current prices.
AAPL Shares Are DroppingAAPL Price Action: Apple shares were down 0.16% at $312.18 at the time of publication on Tuesday. The stock is trading near its 52-week high of $317.39, according to Benzinga Pro.
Image: hanohiki/Shutterstock.com
Market News and Data brought to you by Benzinga APIs
BEIJING, CHINA - JULY 7, 2026 - Pedestrians pass by an Apple store in Beijing, China on July 7, 2026. (Photo credit should read CFOTO/Future Publishing via Getty Images)
CFOTO/Future Publishing via Getty Images
This article was written by Doug Nathman, with research by his team at Trefis.
Apple (AAPL) shares fell by 6% on June 25 after the company increased Mac and iPad prices by $100 to $300, citing a memory shortage that CEO Tim Cook referred to as a “hundred-year flood.” In less than two weeks, however, the stock has recovered most of that decline, trading close to 52-week peaks. The market seems to be reassessing Apple’s situation on two counts: how well positioned the company is amidst the DRAM scarcity compared to its competitors and the apparent wisdom of its cautious approach to AI expenditures.
Apple’s Position In The DRAM ShortageDRAM contract prices surged approximately 90% to 95% in the first quarter of 2026. TrendForce anticipates an additional increase of 58% to 63% in the second quarter. Samsung, SK Hynix, and Micron are reallocating wafer capacity toward high-bandwidth memory for AI servers, creating shortages in the consumer supply chain. As a result, Microsoft’s Surface and Xbox lines, along with brands like Dell, HP, and Lenovo, have also raised prices. Apple was among the last significant hardware manufacturers to pass these costs onto consumers, allowing it to gain goodwill and extra time to strategize pricing effectively.
This timing is complemented by margin stability that existed before the memory crisis. In the March quarter, Apple’s gross margin reached nearly 48%, an increase from 46.6% a year prior, driven by a favorable product mix and growth in services. The lock-in effect of Apple’s ecosystem provides added security. A buyer of a MacBook or iPad who already possesses other Apple devices and has been using iCloud, iMessage, and AirDrop for a decade is more likely to accept a $200 price increase more easily than a Windows user would. Scale and supplier relationships enable Apple to endure the pressure more effectively than smaller PC manufacturers.
Furthermore, the iPhone, which is Apple’s largest segment and generates about half of the revenue, in addition to the Apple Watch and AirPods, has not experienced any price hikes thus far. Although prices for iPhone memory have almost certainly risen as well, Apple is likely anticipating the next refresh cycle—expected to concentrate more on high-end devices—to justify a price increase. This strategy has probably been well received by investors.
AI Spending Discipline Likely Aiding Investors.The market may also be starting to recognize Apple’s careful management of AI expenditures. Amazon (AMZN), Alphabet (GOOG), Meta (META) and Microsoft (MSFT) together are on track to dedicate nearly $700 billion in AI capital expenditures this year, pursuing gigawatt-scale training clusters.
MORE FOR YOU
Simultaneously, some enterprise clients are beginning to scrutinize their AI expenditures more carefully. Tesla, for instance, has recently limited employee spending on AI tools, indicating a shifted focus on AI cost management as usage-based pricing reveals expenses more transparently.
This year, Apple’s capex guidance stands at about $14 billion, unchanged from the previous year, and it actually decreased in the March quarter. The market might reward this conservative approach. Apple licenses advanced AI capabilities from providers like Google’s Gemini, conserving cash on its balance sheet while delivering AI features to its existing user base. A slowdown in hyperscaler spending might make Apple’s strategy appear particularly prescient. If AI infrastructure investments ultimately yield lower-than-anticipated returns, Apple’s methodology could seem even more appealing.
However, this does not render Apple invulnerable. Memory expenses are anticipated to remain high through 2027, and additional price increases are still probable, including for iPhones. IDC has already predicted a contraction in the PC market this year due to price sensitivity. The stock’s recovery signifies investor faith in Apple's capacity to navigate this transition, and this confidence must endure the upcoming fiscal third-quarter earnings report. Presently, Apple appears to be the understated victor in the AI sector, facing the same cost inflation as its competitors while maintaining a competitive edge and margin structure that few can mimic.
A disciplined portfolio strategy can mitigate these risks while still engaging in long-term growth trends. The Trefis High Quality (HQ) Portfolio has consistently surpassed its market benchmark since its inception, achieving cumulative returns exceeding 105%.
I keep hitting the buy button on Broadcom (NASDAQ:AVGO | AVGO Price Prediction), and the pullback to $373.90 from the 52-week high of $494.18 gave me another window to add. This is a compounding machine that just had its floor cemented in concrete, and I want to explain why I have stopped waiting for a “better” entry.
The trigger, for me, was the July 6, 2026 announcement that Broadcom and Apple extended their custom ASIC supply agreement through 2031. Apple represents roughly 20% of Broadcom’s annual revenue, and the multi-year bear case has always been that Cupertino would design Broadcom’s wireless and RF content out. That thesis is now retired for five more years. A high-margin, predictable baseline now underwrites the AI portfolio on top of it.
That AI portfolio is the second reason I keep buying. In Q2 FY2026, AI semiconductor revenue hit $10.80 billion, up 143% year-over-year, and CEO Hock Tan guided Q3 AI revenue to $16 billion, up over 200% year-on-year. He was blunt on the call: “For the full year 2026, we expect to achieve AI semiconductor revenue of $56 billion, up approximately 180% from fiscal 2025.” The visibility keeps extending. He then reiterated fiscal 2027 AI revenue “in excess of $100 billion” and pointed to 10 gigawatts of shipments in 2027 with more in 2028. That is booked capacity for six named customers.
The third reason is the cash. Q2 free cash flow came in at $10.26 billion, or 46% of revenue, with an adjusted EBITDA margin of 69%. Cash on the balance sheet doubled to $19.63 billion while total liabilities fell 3.76% year-over-year. Management returned capital aggressively: $7.8 billion in Q1 buybacks under a $10 billion authorization, plus a $0.65 quarterly dividend that marks the fifteenth consecutive annual increase since fiscal 2011. For a retirement-focused portfolio, that streak matters more than any quarter’s headline.
The valuation lands where a compounder should. Forward P/E of 20 against Q2 net income growth of 87.51% is the multiple I want to own, and the PEG of 0.4 underscores it. Analyst consensus target sits at $523.73 with 44 of 48 covering analysts rated Buy or Strong Buy.
Now the risk. Hyperscaler concentration is real. A handful of customers drive the AI ramp, and any capex reset at Google, Meta, or OpenAI would land on this income statement first. What keeps me buying anyway is the structure of the commitments Tan laid out on the call: multi-generational Google TPU agreements, 5 gigawatts of Anthropic compute beginning in 2027, OpenAI’s 1.3 gigawatts in 2027 stretching to a 10-gigawatt deployment by 2029, and Meta’s 3 gigawatts through 2028. Those are signed contracts. Layer the Apple ASIC baseline underneath, and the concentration risk gets absorbed by contractually secured demand that runs past this decade.
I am not trying to time the next 90 days. I am buying a business with a de-risked base, a booked AI ramp with visibility into 2028, and a capital return record that predates most of my portfolio. The buy button stays live until the thesis breaks, and today it looks stronger than the day I opened the position.
Act now: the analyst who called NVIDIA in 2010 just named his top 10 AI stocks — and Broadcom didn't make the cut. Grab the names FREE today.
Memory and storage prices are climbing sharply, which means consumers will be paying more for many tech products. Apple (AAPL +0.35%) recently said that it was raising the price of some iPad and MacBook products to offset rising costs. While this may seem like it's bad news for Apple, the supply shortage may actually help the business in the long run and be a positive catalyst for the stock. Here's why.
Image source: Getty Images.
Apple's products may suddenly look more affordable Earlier this year, Apple introduced a series of lower-priced products that aimed at gaining market share by appealing to a broader customer base. The MacBook Neo and iPhone 17e were among the most notable. The tech company said its MacBook Neo was its "most affordable laptop ever." And the iPhone 17e offers consumers a cost-effective way to upgrade and access the company's latest and greatest artificial intelligence capabilities.
By introducing lower-priced products, Apple has suddenly narrowed the gap between its devices and those of cheaper alternatives. And as other companies need to raise prices significantly due to rising memory and storage costs, Apple may not feel as much pressure to do so, given its strong margins. While it has announced price increases for some products, including the MacBook Neo, it has held off on raising iPhone prices for the time being. Other companies that don't have Apple's financial might may not have that same luxury. And as the gap between Apple's products and lower-priced options diminishes, consumers may be more inclined to simply buy an Apple product.
Today's Change
(
0.35
%) $
1.11
Current Price
$
313.77
The stock has been doing just fine this year, but can it continue rising? Apple's stock is up 15% since the start of the year, as concerns about rising prices don't appear to be weighing on the business. While higher prices may negatively impact demand for some of its premium-priced products, there's still hope that Apple might be able to capture greater sales on its lower-priced products and, in doing so, potentially attract more consumers into its ecosystem, leading to more future growth.
The business still looks to be in strong financial shape, but with a price-to-earnings multiple of 38, this is not a cheap stock to own, given the uncertainty amid both challenging economic conditions and rapidly rising memory and storage prices. While it may be a solid long-term investment for investors who just want to buy and hold for years, I'd hold off on buying the stock for now, as I think there are better options in the tech sector today.
David Jagielski, CPA has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Apple. The Motley Fool has a disclosure policy.
The AI Winner Investors May Be OverlookingThe centerpiece of JPMorgan’s thesis isn’t simply that Macs will continue growing—it’s why.
“Demand for Macs is likely to prove the least elastic,” Chatterjee wrote, pointing to Apple’s expanding lineup, broader addressable market and what he called “Edge AI-led demand.”
Unlike traditional PC refresh cycles, the bank believes the next wave of upgrades will be driven by increasingly demanding on-device AI applications running on Apple silicon.
Those “capability-driven” purchases, Chatterjee argues, are “far less price-sensitive than commodity refresh demand,” giving Apple greater pricing power even as component costs rise.
Growing While the PC Market ShrinksThe backdrop makes JPMorgan’s outlook even more notable.
The bank points to industry forecasts showing the broader PC market is expected to contract this year as higher memory costs push device prices higher. Yet Apple is expected to continue taking share.
According to Chatterjee, Macs have been “side-stepping” the broader PC market’s price elasticity through two structural advantages: a wider range of price points and accelerating demand for AI-capable computers. Gartner expects AI PCs to account for roughly 46% of the market next year, rising to about 70% by 2027, trends JPMorgan believes should continue benefiting Apple’s Mac lineup.
That combination leads the bank to forecast double-digit Mac revenue growth despite higher prices—a sharp contrast to much of the broader PC industry.
Not Every Apple Product Looks the SameJPMorgan’s outlook isn’t equally bullish across Apple’s hardware portfolio.
The bank expects the iPad to be “the most price-sensitive” of Apple’s major product lines, while base-model iPhones should also see more demand pressure than premium devices. Macs, meanwhile, stand apart because AI functionality is creating new reasons to upgrade beyond routine replacement cycles.
That distinction also helps explain why JPMorgan left its longer-term earnings outlook largely intact despite assuming steeper hardware price increases. While lower-cost products may experience some volume pressure, stronger pricing and resilient demand for Macs and premium iPhones should leave Apple with “much more favorable” revenue and earnings outcomes than many investors currently expect.
The Bigger PictureFor years, Apple’s investment story has revolved around the iPhone.
JPMorgan’s latest research suggests the company’s next AI narrative may be unfolding elsewhere. As investors debate iPhone pricing and the foldable cycle, Apple’s quieter Mac business could become one of its biggest AI beneficiaries—driven not just by new hardware, but by “Edge AI-led demand” that may prove far more durable than the market expects.
Mac Mini-Photo by Wachiwit via Shutterstock
Market News and Data brought to you by Benzinga APIs
SummaryCompaniesLuxshare prices Hong Kong listing at top of marketed range of HK$63.28/shareProceeds to fund expansion, AI-driven factory upgrades and debt repaymentShares due to start trading in Hong Kong on July 9July 7 (Reuters) - China-headquartered Luxshare Precision Industry (002475.SZ), opens new tab said on Tuesday it had priced its Hong Kong listing at the top end of its marketed range, looking to raise about HK$24.27 billion ($3.09 billion).
The Shenzhen-listed Apple (AAPL.O), opens new tab supplier said the offer price was determined at HK$63.28 per H-share, and would sell 383.5 million shares.
Make sense of global markets with the Trading Day newsletter. Sign up here.
The proceeds would be used to expand manufacturing capacity in automotive and consumer electronics, fund AI-driven factory upgrades, repay debt and support working capital, according to Luxshare's prospectus.
A significant portion is earmarked for automotive electronics, as Luxshare pushes deeper into the fast-growing intelligent vehicle supply chain.
"Luxshare's HK IPO is interesting because it comes at a time when global equity markets are still riding the AI euphoria," said Lukman Leong, analyst at Doo Financial Futures, a brokerage.
"I see the IPO as benefiting from the current positive market sentiment toward AI and technology supply chains, while also reflecting HK's renewed appeal as the preferred international fundraising venue for Chinese companies."
Luxshare is among the five Chinese technology and advanced manufacturing companies that launched Hong Kong listings last week.
The first half of 2026 has seen about $22.45 billion in new listings in Hong Kong, up nearly 57% from a year earlier and marking the busiest start to a year for the city in five years, according to LSEG data.
The strong activity has helped make Hong Kong one of the world's busiest venues for new share sales this year, as improving investor sentiment and robust demand encourage technology and manufacturing companies to raise capital.
The company said it expects to announce the level of investor demand for its international offering on July 8, with trading of its shares beginning the following day.
Founded by Chinese billionaire Wang Laichun, Luxshare is one of Apple's largest suppliers and manufactures routers, wireless charging modules and video-conferencing equipment.
In a separate exchange filing, Chaozhou Three-Circle (300408.SZ), opens new tab, an electronic ceramic materials maker, priced its H-share listing at HK$100.30 to raise about HK$7.16 billion.
($1 = 7.8425 Hong Kong dollars)
Reporting by Rajasik Mukherjee in Bengaluru; Editing by Ronojoy Mazumdar and Vijay Kishore
Our Standards: The Thomson Reuters Trust Principles., opens new tab
Apple’s Discounts Boost Market ShareAccording to Counterpoint Research, Apple’s iPhone sales fell 9% year over year during the four-week 618 promotional period, despite a strong sequential rebound.
The company began promotions about a month before the annual shopping festival, offering savings of up to 2,000 yuan (about $290) on the iPhone 17 Pro series through official discounts, e-commerce platform incentives, and trade-in offers. Those promotions helped Apple climb to the No. 2 spot in China’s smartphone rankings.
The research firm said the year-over-year decline reflected tougher comparisons, as Apple had run even more aggressive promotions for the iPhone 16 series during last year’s 618 event.
China’s Smartphone Market Faces Broad SlowdownThe broader Chinese smartphone market remained under pressure. Counterpoint estimated total smartphone sales fell 13% from a year earlier during the promotional period as rising memory prices forced manufacturers to raise prices and scale back discounts. The weaker promotional environment dampened already soft consumer demand.
Huawei Outperforms RivalsHuawei was the standout performer, becoming the only major smartphone brand to post year-over-year growth. The company captured a 21% market share, driven by strong demand for the Enjoy 90 Pro Max and solid performance from the Mate 80.
Counterpoint also noted that Chinese Android vendors, including OPPO, HONOR, vivo and Xiaomi, all posted double-digit sales declines as manufacturers prioritized profitability over aggressive discounting.
Counterpoint Sees More Weakness AheadLooking ahead, Counterpoint expects China’s smartphone market to weaken further in the second half of 2026. The firm said vendors and supply chain partners have signaled that higher prices are likely to persist, while manufacturers continue adopting a profit-first strategy and trimming shipment plans. As a result, Counterpoint forecasts a double-digit decline in China’s smartphone shipments for the full year.
Apple Stock Technical AnalysisApple continues to trade well above its major moving averages, signaling a strong long-term uptrend. The stock sits 6.8% above its 20-day simple moving average, 7% above its 50-day SMA, 13.6% above its 100-day SMA and 16.2% above its 200-day SMA.
The 20-day SMA remains above the 50-day SMA, while the 50-day stays above the 200-day SMA, reinforcing a bullish “golden cross” formation.
Momentum indicators also remain constructive. The moving average convergence divergence (MACD) indicator is above its signal line, suggesting buyers continue to control the near-term trend despite the stock’s extended rally.
On the upside, resistance is near $317.50, close to Apple’s 52-week high of about $317.40. A decisive move above that level could attract additional buying interest. On the downside, initial support sits around $287.50, near the rising 20-day and 50-day moving averages.
Apple Earnings And Analyst OutlookApple is scheduled to report quarterly earnings on July 30. Wall Street expects earnings of $1.89 per share, up from $1.57 a year earlier, on revenue of $108.86 billion compared with $94.04 billion in the prior-year period.
The stock trades at about 37.9 times earnings, reflecting a premium valuation.
Analysts maintain a consensus Buy rating with an average price forecast of $324.16. Recent analyst moves include Evercore ISI reiterating an Outperform rating with a $365 price forecast, KGI Securities downgrading the stock to Hold with a $315 price forecast, and Bank of America maintaining a Buy rating with a $380 price forecast.
Apple Price ActionAAPL Stock Price Activity: Apple shares were up 0.65% at $314.68 during premarket trading on Tuesday, according to Benzinga Pro data.
Photo via Shutterstock
Market News and Data brought to you by Benzinga APIs
Apple (AAPL +1.36%) lost roughly $500 billion of its market cap over 25 days in June. That's the equivalent of an AbbVie (ABBV 2.42%), Caterpillar (CAT +0.66%), or Mastercard (MA 1.15%) being completely wiped out.
What was once a solid year-to-date performance for Apple has turned into a puny gain. But is the stock a buy after its recent pullback? Here's what history suggests.
Image source: The Motley Fool.
What's behind Apple's recent decline? The first factor that caused Apple stock to fall in recent weeks stems from the company's discussions about a new version of the Siri AI assistant at its 2026 Worldwide Developer Conference (WWDC) in early June. Deepwater Asset Management's Gene Munster summed up the concerns in a post on X (formerly Twitter):
$AAPL has sold off 2.6% because the jury is still out on whether Apple can deliver compelling AI.
Yes, the demo is amazing, but Craig didn't give any timing updates on the new Siri. Most investors (including Gurman) expected it to launch this fall, but Apple provided no comfort... https://t.co/WUC6EQ5h83
-- Gene Munster (@munster_gene) June 8, 2026 Munster was probably right that some investors aren't confident that Apple's new Siri will excite customers. And he was almost certainly on point about concerns over the timing of the Siri launch, especially considering the company's previous delays.
Today's Change
(
1.36
%) $
4.21
Current Price
$
312.84
However, the biggest reason for Apple's recent decline was last week's announcement that it would increase prices for its Mac and iPad products. The company said in a statement, "The consumer electronics industry is facing an unprecedented challenge. The rapid expansion of AI data centers has created an extraordinary surge in demand for memory and storage. We have never seen a component price increase this much, this quickly."
Apple CEO Tim Cook told The Wall Street Journal that the memory and storage shortage is like a "hundred-year flood." The big question for investors is whether or not this flood's waters will impact pricing for Apple's crown jewel -- the iPhone.
History lessons History is clear about what investors should do when Apple's shares pull back. In every previous case, the stock declined by nearly 10% or more, which presented a great opportunity to invest in Apple stock.
The most recent example was only a few months ago. Apple's stock fell roughly 13% between Dec. 2, 2025, and Jan. 20, 2026. That proved to be just a temporary trough, though. Apple quickly rebounded, erasing its losses and tacking on a solid gain.
AAPL data by YCharts
We have seen Apple recover from much worse sell-offs in the past. For example, in 2013, many investors worried that iPhone sales had peaked. Apple responded by launching new iPhones with larger screens, spurring a new growth wave.
Fears arose again in 2016 that iPhone demand was slowing. Apple's services business came to the rescue, with strong growth reassuring investors. Fast-forward a couple of years. The tariffs imposed during the first Trump administration negatively impacted Apple's sales in China. Yet again, though, the stock made a comeback.
Is this time different? However, the question for investors now is: Is this time different? When Apple's CEO refers to a "hundred-year flood," it could seem reasonable to conclude that the answer is "yes." However, investors shouldn't make too much of Cook's analogy.
To be sure, memory and storage costs aren't likely to come down anytime soon. But supply will eventually catch up with demand, resulting in at least price stabilization.
More importantly, the reasons why Apple has survived and thrived every previous challenge remain intact. Apple's competitive advantages haven't disappeared. Its customer base is still highly loyal. And the headwinds affecting the company will hurt its competitors just as much.
Wall Street remains generally bullish about Apple. The consensus 12-month price target reflects a potential upside of over 10%. Of the 47 analysts surveyed by S&P Global (SPGI +1.67%) in June, 29 (roughly 62%) rated Apple as a "buy" or "strong buy." Apple also continues to rank among the favorite tech stocks for billionaires.
This time could be different for Apple in some respects. However, I predict that history will repeat itself. Buying Apple on the dip should pay off for patient investors.
The VanEck Semiconductor ETF (NASDAQ:SMH) has ripped higher in 2026, gaining 64.47% year to date through July 2 and 111.24% over the trailing 12 months. Yet the fund fueling that run does not own a single share of Apple (NASDAQ:AAPL | AAPL Price Prediction), arguably the most recognizable technology stock on the planet. The absence is structural, not tactical, and it explains a lot about how the ETF earned its return.
What SMH Actually Is SMH is VanEck’s pure-play semiconductor ETF, tracking the largest chip designers, foundries, and equipment makers listed on U.S. exchanges. It carries a net expense ratio of 0.35%, which sits at the low end for a thematic sector fund. Total net assets were not disclosed in the most recent VanEck fact sheet dated May 27, 2026, but the fund is one of the most heavily traded semiconductor vehicles in the market.
What’s Driving the Return The rally traces directly to a concentrated basket of chip names. As of the latest fact sheet, the top 10 holdings are:
Company Weight Advanced Micro Devices (NASDAQ:AMD) 10.33% Broadcom (NASDAQ:AVGO) 9.57% Micron Technology 9.39% Taiwan Semiconductor Manufacturing 8.75% NVIDIA (NASDAQ:NVDA) 8.40% ASML Holding 8.13% Intel 8.13% Lam Research 5.62% Applied Materials 5.53% Texas Instruments 4.52% AMD, Broadcom, and Micron alone account for 29.29% of net assets combined. Add NVIDIA, TSMC, ASML, and Intel and the top seven push well past 60% of the fund. That concentration in AI accelerators, memory, foundry capacity, and lithography equipment is the engine behind the year’s return. A TipRanks piece dated May 9, 2026 flagged the same drivers, noting the rally was tied to Nvidia, Taiwan Semiconductor, and Intel rather than the broader tech complex.
Why Apple Isn’t In It Apple designs its own silicon, but the company generates the bulk of its revenue from devices and services. Its most recent quarter, filed April 30, 2026, showed iPhone revenue of $56.99 billion and Services revenue of $30.98 billion. Under the index methodology SMH follows, that revenue mix classifies Apple as a consumer hardware and services company under the index methodology. It is excluded by design. SMH’s holdings history from January through July 2026 shows no Apple position at any point during the period covered by the ETF’s year-to-date gain.
Read: Are you ahead, or behind on retirement? SmartAsset's free tool can match you with a financial advisor in minutes to help you answer that today. Each advisor has been carefully vetted, and must act in your best interests. Don't waste another minute; learn more here.
How Owning Apple Would Have Compared Apple stock has done fine on its own, with shares up 13.74% year to date and 45.86% over the past year. Broad-market and megacap tech ETFs that hold Apple captured that move. SMH’s methodology traded diversified megacap exposure for concentrated chip exposure, and in 2026 that trade has paid off. Investors weighing the fund should recognize the flip side: seven names carry more than 60% of the portfolio, so a single-stock stumble carries real weight.
The Recent Pullback The year-to-date figure hides a rough stretch. SMH is down 7% over the trailing week and 6.31% over the trailing month, closing July 2 at $592.29 after a 4.54% single-day drop. Reddit sentiment reflected the shift, with r/wallstreetbets threads on June 9 and 10 turning bearish around a “Semiconductor shorts pile on” narrative. Concentrated funds cut both ways.
The Takeaway SMH offers a clean, low-cost way to own the largest listed chipmakers, and the design choice to exclude Apple has been additive in 2026. For retirement-focused investors, the more important question is fit: a fund with roughly 60% in seven names behaves differently from a diversified tech ETF that owns Apple, Microsoft, and Alphabet alongside chips. Past performance does not guarantee future results, and this article is not investment advice. The fund’s structure is the story here, and the recent pullback is a reminder that concentration works in both directions.
If You’ve Been Thinking About Retirement, Pay Attention (sponsor) Retirement planning doesn’t have to feel overwhelming. The key is finding expert guidance, and SmartAsset’s simple quiz makes it easier than ever for you to connect with a vetted financial advisor. Here’s how:
Answer a Few Simple Questions.
Get Matched with Vetted Advisors
Choose Your Fit
Why wait? Start building the retirement you’ve always dreamed of. Get started today! (sponsor)
Americké akciové indexy se po prodlouženém víkendu, kdy ještě doznívají sváteční konfety, pohybují v kladném teritoriu v čele s technologickým Nasdaqem, který přidává bezmála 1,3 %, širší index S&P500 pak posiluje o 0,7 %. Kosmetický zisk 0,05 % si připisuje též tradiční index Dow Jones.
K růstu se po korekci v minulém týdnu vrátily polovodiče. Referenční Philadelphia SE Semiconductor index zpevňuje téměř o 4 % a sektor informačních technologií jednoznačně dominuje dnešnímu odvětvovému růstu v rámci S&P500 se ziskem 2 %. Jim sekundují komunikační služby (+0,9 %). Naopak sektor zbytných statků, zdravotnictví a utilit vykazuje více než 1% ztrátu.
Po sérii nových historických maxim z prvního pololetí přijde již brzy další test robustnosti trhu v podobě výsledkové sezony. Zejména volatilní polovodičový sektor v poslední době ukazuje, že prostor pro zklamání je omezený. Reportovací období pomyslně odstartují příští úterý přední americké banky.
Smíšeným vývojem dnes prochází dluhopisy. Zatímco kratší maturity lehce zpevňují, delší splatnosti naopak mírně ztrácí. Výnos 10letého vládního bondu se drží těsně nad hladinou 4,48 %. Drahé kovy vykazují ztráty. Zlato odepisuje 0,6 % na 4152 USD/oz, stříbro oslabuje o 1 % na 61,8 USD/oz.
V energetickém sektoru se nedaří ropě, která se obchoduje slabší o 0,6 % na 68,3 USD/barel, zemní plyn naopak přidává 0,9 % na 3,23 USD/mmbtu.
Na korporátní úrovni S&P500 konstituentů si nejlepší výsledek připisují akcie výrobce procesorů a AI akcelerátorů, spol. AMD (AMD +7,9 %) po zvýšeném cíli od Goldman Sachs na 640 z předchozích 450 USD při trvajícím poptávkovém momentu v oblasti AI. Nejhorší výsledek pak registruje prodejce náhradních autodílů, spol. O’Reilly (ORLY -7,2 %) po zprávách o akvizičním zájmu převzít konkurenta NAPA Auto Parts, divize spol. Genuine Parts (GPC), při hotovostní nabídce za více než 10 mld. USD. Nedaří se ani dalšímu z prodejců auto komponent, spol. Autozone (AZO -6,1 %).
Z dalších zajímavých korporátních zpráv pak doplňme oznámení Microsoftu (MSFT -1,2 %) o propuštění 4800 zaměstnanců (2,1 % pracovníků). V polovodičovém segmentu potěšil investory Broadcom (AVGO +4,2 %) po prodloužení obchodní spolupráce s Applem (AAPL) do roku 2031.
Nejsilnější sektory S&P Změna Nejslabší sektory S&P Změna Informační technologie +1,9 % Zbytná spotřeba -1,5 % Sektor komunikací +1 % Zdravotní péče -1,3 % Nezbytná spotřeba +0,8 % Utility -1,2 % Nejsilnější akcie S&P Změna Nejslabší akcie S&P Změna Advanced Micro Devices (AMD) +7,9 % O'Reilly Automotive (ORLY) -7,2 % Arista Networks (ANET) +7,7 % AutoZone (AZO) -6,1 % VERTIV HLD A O (VRT) +6,7 % Constellation Brands (STZ) -5,7 % Tesla (TSLA) +6,3 % Tractor Supply (TSCO) -4,9 % QUALCOMM (QCOM) +6,3 % BUILDR FIRST O (BLDR) -4,4 % Zdroj: Reuters
Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.
McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.
His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.
A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.
TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.
McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.
Apple has begun restoring card payments for Apple Account purchases in India more than four years after withdrawing the option, the latest sign of how the iPhone maker is adapting its services to regulatory changes that have reshaped the country’s digital payments landscape.
The change, which is rolling out in phases, allows users in India to add eligible Visa and Mastercard credit and debit cards to their Apple Account to pay for subscriptions such as iCloud+ and Apple Music, as well as App Store purchases.
In May 2022, Apple suspended card payments in India following changes to the country’s recurring payments framework. Since then, users have relied on UPI, India’s real-time payments network, net banking, and Apple Account balance for subscriptions and other Apple digital purchases.
The move illustrates a broader challenge for Apple as governments around the world impose country-specific rules on digital platforms, increasingly requiring the Cupertino company to tailor products, payments, and other services to local regulatory frameworks rather than offer a uniform global experience. Similar pressures have led Apple to revise parts of its App Store business in Europe, while regulatory changes in Japan and South Korea have also reshaped aspects of app distribution and payments.
Apple has made the backend changes needed to support card payments under India’s regulatory framework, according to a person familiar with the matter. The phased rollout began recently and is expected to expand to all eligible users over time. Apple has also updated its support documentation to reflect the change.
The framework, introduced by the Reserve Bank of India in 2021 and implemented in stages, required merchants and payment providers to introduce stronger customer authentication for recurring card payments and adopt tokenized card credentials, while preventing merchants from storing customers’ card details. The transition disrupted subscription billing for many domestic and international companies before they updated their payment systems.
“It’s long overdue but happening finally. This solves one of the friction points for subscription renewals,” said Tarun Pathak, research director at Counterpoint Research.
Apple’s services business in India has continued to grow at a double-digit pace despite the lack of direct card payments, but restoring the option becomes increasingly important as the company’s installed base expands and more users expect multiple ways to pay, he told TechCrunch.
The restoration of card payments is also likely to rekindle speculation about Apple Pay in India, following media reports that the company has explored bringing the service to the country. Apple has not announced any plans to launch the mobile payments service in India.
Apple did not respond to a request for comments.
When you purchase through links in our articles, we may earn a small commission. This doesn’t affect our editorial independence.
Jagmeet covers startups, tech policy-related updates, and all other major tech-centric developments from India for TechCrunch. He previously worked as a principal correspondent at NDTV.
You can contact or verify outreach from Jagmeet by emailing [email protected].
Shares of Apple (NASDAQ:AAPL | AAPL Price Prediction) rose 1.7% on July 1, 2026, the day the Wall Street Journal reported that SpaceX had shown IPO investors a prototype handset: slimmer than an iPhone, running a proprietary operating system, powered by a Qualcomm Snapdragon chip, and deeply integrated with xAI’s Grok. Elon Musk called the story “utterly false” on X, then apparently deleted the post. Meanwhile, SpaceX (NASDAQ:SPCX) fell 7.3%, briefly wiping more than $50 billion from Musk’s net worth. The market’s verdict on Apple was clear: not our problem. That verdict looks wrong.
The Denial Pattern This is at least the third time Musk has denied building a phone. He denied a similar Reuters report in February 2026, previously posted “we are not developing a phone,” and once said the idea of making a phone “makes me want to die.”. Take him at his word. The confirmed moves around the device are the real story.
The Stack Apple Should Fear On June 26, SpaceX COO Gwynne Shotwell told IPO roadshow investors that SpaceX plans to launch a Starlink-branded retail wireless service and may build its own terrestrial cellular network to challenge AT&T, Verizon, and T-Mobile. In May 2026, the FCC approved SpaceX’s acquisition of 65 MHz of exclusive nationwide mid-band spectrum from EchoStar, the legal foundation for a carrier-free network. Bloomberg reports talks with Charter Communications about a mobile infrastructure partnership. And in February 2026, SpaceX absorbed xAI, bringing Grok, X, and Cursor under one roof.
Network layer: Starlink. Intelligence layer: Grok. Social graph: X. Developer tools: Cursor. A proprietary OS would complete the stack. Whether a handset ships is almost beside the point.
Why the App Store Is the Real Target Apple’s Services segment, which houses App Store fees, reached approximately $26.6 billion in the most recent quarter, the company’s highest-margin business and anchor of its 36 trailing P/E. Musk has explicitly said the motivation for a phone would be to escape Apple’s control over app distribution, citing the risk that Apple could remove X from the App Store. A proprietary OS bypasses both Apple and Google in one motion.
Act now: the analyst who called NVIDIA in 2010 just named his top 10 AI stocks — and Apple didn't make the cut. Grab the names FREE today.
The Broader AI Hardware Race SpaceX is not alone. OpenAI is developing a device with former Apple chief design officer Jony Ive; Paul Meade, Apple’s VP in charge of Vision Pro, recently joined OpenAI’s hardware team. Microsoft unveiled a prototype AI badge last month built on Qualcomm wearable chips. Apple itself is reportedly building AI wearables and an AI pin, an implicit concession that the smartphone era has a horizon.
The Counterargument Analysts at Vital Knowledge wrote after the report: “SpaceX has a long way to go before successfully manufacturing a consumer device at scale and competing against the leading platforms.” The Humane AI Pin was discontinued; the Rabbit R1 launched to critical disappointment. Apple’s moat has absorbed every prior assault, and manufacturing a consumer device at scale is a fundamentally different challenge than launching rockets.
The Next Inflection Apple’s fiscal Q3 report is expected July 30, 2026, the first major update since the rumor broke, with reports suggesting Tim Cook may not attend the earnings call. The last quarter was pristine: $111.184 billion in revenue, $2.01 EPS versus $1.94 expected, an eighth straight beat, and a new $100 billion buyback authorization.
The numbers are fine, the stock is at $308.63, and prediction markets give only a 28% probability Apple releases a new product line before 2027. Here is the question worth asking before July 30: if a competitor were quietly assembling the network, the model, the OS, and the distribution to route around the App Store, would this earnings report tell you about it, or would it look exactly like the one you just read?
Act now: the analyst who called NVIDIA in 2010 just named his top 10 AI stocks — and Apple didn't make the cut. Grab the names FREE today.
Broadcom Inc. AVGO shares rose 5.3% in trading on Monday after the semiconductor company announced an extension of its long-standing partnership with Apple Inc. through 2031.
The agreement reinforces Broadcom's position as one of the iPhone maker's key chip suppliers.
The new multi-year agreement expands the companies' collaboration on custom silicon products and provides Broadcom with long-term revenue visibility from one of its largest customers.
Apple accounts for about 20% of Broadcom's annual revenue, according to analysts, making the partnership strategically important for the chipmaker.
Broadcom said it has agreed to expand its partnership with Apple through 2031 to develop and supply custom chips, easing concerns over the iPhone maker's reliance on the semiconductor company.
According to Broadcom's recent SEC filing:
"Broadcom Inc. (“Broadcom”) and Apple Inc. (“Apple”) have agreed to expand their long-standing technology collaboration through 2031 by entering into new multi-year long-term agreements for Broadcom to develop and supply a range of custom ASIC silicon products for use in multiple generations of Apple products."
The agreement covers a range of custom silicon products that will be used across multiple generations of Apple devices.
Financial terms of the extension were not disclosed.
Broadcom has supplied Apple with key components for years, including radio frequency chips that enable iPhones to connect to cellular networks, Wi-Fi and Bluetooth connectivity chips, and other networking semiconductors.
Although Apple has developed several in-house chips, including its C1 modem, it continues to rely on Broadcom for wireless and radio-frequency components.
The companies had previously announced a multibillion-dollar agreement in 2023 for Broadcom to develop and manufacture 5G radio frequency components.
The latest extension builds on that relationship and secures Broadcom's role in Apple's supply chain through the end of the decade.
The extended partnership aligns with Apple's strategy of securing long-term supply agreements with key semiconductor companies to strengthen the resilience of its supply chain.
Apple relies on Taiwan's TSMC, the world's largest contract chipmaker, to manufacture its in-house processors, including the M-series chips used in Mac computers and the A-series processors that power iPhones.
Demand for advanced chips has intensified as artificial intelligence adoption accelerates.
The growth of AI inference—the process by which models respond to user queries—has increased demand for custom chips and advanced processors, creating greater competition for manufacturing capacity.
TSMC has faced heavy demand from AI chipmakers such as Nvidia. Apple Chief Executive Tim Cook said in April that these capacity constraints had affected iPhone sales.
Apple is also in discussions with Intel to manufacture some chips in the United States, although analysts have said volume production is unlikely before late 2027.
The broader semiconductor industry has experienced rising component costs as AI infrastructure spending continues to expand.
Prices for memory and storage chips have climbed sharply in recent months, driven by increasing demand from AI hyperscalers.
Apple raised prices for its MacBooks and iPads in June after memory chip costs surged as much as 98% during the first half of 2026.
Beyond its relationship with Apple, Broadcom has been expanding its presence in the artificial intelligence market by developing AI-specific chips for other major technology companies, including Alphabet and Meta Platforms.
Apple is expected to release its new foldable smartphone this fall but investors may have to wait for 2027 to see clear demand trends. (Courtesy Apple)
Apple upcoming foldable smartphone could be an instant hit with consumers, but it may take time to ramp up production and shipments of the new iPhone, according to a top industry analyst.
Although Nvidia is Wall Street's largest publicly traded company, no member of the "Magnificent Seven" paved the way for the stock market quite like Apple (AAPL +4.88%). Since current CEO Tim Cook took over for Steve Jobs in August 2011, shares of Apple have soared by more than 2,600%, including dividends.
Throughout much of Cook's nearly 15-year tenure, which is coming to a close when he steps down from the CEO role on Sept. 1 and transitions to executive chairman of Apple's board, the company's physical devices, such as iPhone, have done the heavy lifting. But a significant portion of Apple's outsize returns under Cook can be traced to what's been, in hindsight, a game-changing $853 billion investment.
Apple CEO Tim Cook delivering remarks at the White House. Image source: Official White House Photo by Daniel Torok.
Apple CEO Tim Cook bet big on himself and his company I know what you're probably thinking, and no, Apple hasn't plowed $853 billion into artificial intelligence (AI) research. Despite several Magnificent Seven members outlaying north of $100 billion annually to expand their AI data centers, Apple's boss found a more intriguing way to put his company's capital to work.
With $853 billion, Apple could have acquired any of 487 S&P 500 (^GSPC +0.00%) companies, not including itself. But instead of making a big splash with an acquisition, Cook and the other members of Apple's board chose to invest in what they considered a prized asset: their own company's stock.
Beginning in 2013, Apple began repurchasing a lot of its own stock -- and it hasn't stopped:
2013: $22.95 billion in buybacks 2014: $45 billion 2015: $35.253 billion 2016: $29.722 billion 2017: $32.9 billion 2018: $72.738 billion 2019: $66.897 billion 2020: $72.358 billion 2021: $85.971 billion 2022: $89.402 billion 2023: $77.55 billion 2024: $94.949 billion 2025: $90.711 billion 2026: $36.989 billion (through the fiscal second quarter) Collectively, Cook has overseen approximately $853.4 billion in share buybacks, which would be enough to acquire all but 12 S&P 500 companies. In the process, Apple has retired more than 44% of its outstanding shares.
AAPL Shares Outstanding (Quarterly) data by YCharts.
One reason Apple has been aggressive with share buybacks is that it helps the company's optics. For companies with steady or growing net income, share repurchases can reduce their outstanding share count and increase earnings per share. In theory, this can make Apple more fundamentally attractive to value-focused investors.
Another reason Tim Cook and the Apple board went all-in on buybacks is that President Donald Trump's tax policies made it logical to do so. The Tax Cuts and Jobs Act, signed into law by Trump in December 2017, permanently lowered the peak marginal corporate income tax rate from 35% to 21% (the lowest level since 1939). Being able to retain more of its earnings gave Apple a clear path to repurchase its stock without pulling capital away from research and development. This is why buybacks catapulted higher in 2018 (and beyond).
Today's Change
(
4.88
%) $
14.36
Current Price
$
308.74
Lastly, share repurchases often incentivize long-term investing, which can minimize volatility. It's a correlation that Berkshire Hathaway's now-retired billionaire CEO, Warren Buffett, appreciated -- especially since Berkshire was a significant stakeholder in Apple. As a company's share count declines over time, the ownership stakes of long-term investors incrementally increase.
Sean Williams has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Apple, Berkshire Hathaway, and Nvidia. The Motley Fool has a disclosure policy.
Apple (AAPL +4.88%) is reportedly preparing its most crowded iPhone lineup in years. According to supply chain reports cited by Asian news site Nikkei Asia, the company plans at least five new iPhone models between the back half of 2026 and early 2027, headlined by its first foldable smartphone -- and it has raised the production target for that foldable, rumored to carry a price around $2,500, to about 10 million units, reportedly up from an earlier 7 million to 8 million. The reports helped fuel one of the stock's best sessions of the year.
But the more useful question for shareholders isn't whether a folding iPhone is cool. It's whether a product blitz like this can move the earnings of a tech giant that sells more than 220 million phones a year.
Image source: Apple.
Sizing the foldable opportunity Start with how central the iPhone still is. In Apple's fiscal second quarter (the period ended March 28, 2026), iPhone revenue rose 22% year over year to about $57 billion, a March-quarter record, out of about $111 billion in total sales. That is more than half of the company coming from a single product line.
But how big of a catalyst could a foldable iPhone really be?
Ten million units at about $2,500 works out to around $25 billion of potential revenue in a full year -- a meaningful slice of the more than $200 billion the iPhone generates annually, and mostly a fiscal 2027 story rather than this year's.
Even more, spreading five models across price tiers is a deliberate move to grab share from rivals at both the high and low ends of the market.
Put those pieces together, and the foldable looks less like a blockbuster and more like a halo. It probably won't add much to any single quarter's revenue on its own. What it can do, however, is reset the ceiling on iPhone prices, pulling some upgraders into a pricier tier. In a maturing smartphone market, defending the high end while broadening the lineup to reach more price points could be a serious lever.
Today's Change
(
4.88
%) $
14.36
Current Price
$
308.74
Ultimately, the biggest reason for investors to be upbeat about a busy iPhone product cycle is that it shows that the company is trying to aggressively grow its installed base of active devices -- the foundation of its high-margin services.
And this important segment already has impressive momentum. Services revenue rose 16% to a record $31 billion in the same quarter.
But keep in mind that these new products won't show up in the tech giant's financials for a while. The foldable's revenue mostly lands next year, so this news bears on fiscal 2027's numbers, not the print later this month. Apple reports third-quarter results for fiscal 2026 on July 30, and management has guided for revenue growth of 14% to 17%.
Then there is the stock's price. Shares change hands at about 37 times earnings, a premium that already assumes a strong product cycle.
And there are other risks beyond valuation risk. Apple has never shipped a foldable, and a first-generation product in a brand-new form factor carries real execution risk -- hinges, unique displays, and manufacturing yields are all hard to get right. And even a runaway hit could be capped at a certain volume.
Still, the figure that ultimately moves Apple's earnings over the long haul won't be foldable units. It's total iPhone volume and how many of those buyers deepen their spending on services over time.
Overall, I do think Apple stock looks good here, but reports are still reports. I'd treat the foldable as upside optionality stacked on top of an iPhone-and-services engine that's already growing at a double-digit clip -- a reason to keep owning Apple, but not a reason to chase it on a rumor. With that said, if the rumor proves true, I think fiscal 2027 could be a major year for the company -- and maybe for the stock, too.
Apple (AAPL - Free Report) is one of the stocks most watched by Zacks.com visitors lately. So, it might be a good idea to review some of the factors that might affect the near-term performance of the stock.
Over the past month, shares of this maker of iPhones, iPads and other products have returned -0.8%, compared to the Zacks S&P 500 composite's -1.7% change. During this period, the Zacks Computer - Micro Computers industry, which Apple falls in, has lost 2.6%. The key question now is: What could be the stock's future direction?
While media releases or rumors about a substantial change in a company's business prospects usually make its stock 'trending' and lead to an immediate price change, there are always some fundamental facts that eventually dominate the buy-and-hold decision-making.
Earnings Estimate RevisionsRather than focusing on anything else, we at Zacks prioritize evaluating the change in a company's earnings projection. This is because we believe the fair value for its stock is determined by the present value of its future stream of earnings.
We essentially look at how sell-side analysts covering the stock are revising their earnings estimates to reflect the impact of the latest business trends. And if earnings estimates go up for a company, the fair value for its stock goes up. A higher fair value than the current market price drives investors' interest in buying the stock, leading to its price moving higher. This is why empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
Apple is expected to post earnings of $1.88 per share for the current quarter, representing a year-over-year change of +19.8%. Over the last 30 days, the Zacks Consensus Estimate has changed +0.1%.
For the current fiscal year, the consensus earnings estimate of $8.74 points to a change of +17.2% from the prior year. Over the last 30 days, this estimate has remained unchanged.
For the next fiscal year, the consensus earnings estimate of $9.57 indicates a change of +9.5% from what Apple is expected to report a year ago. Over the past month, the estimate has changed +0.3%.
With an impressive externally audited track record, our proprietary stock rating tool -- the Zacks Rank -- is a more conclusive indicator of a stock's near-term price performance, as it effectively harnesses the power of earnings estimate revisions. The size of the recent change in the consensus estimate, along with three other factors related to earnings estimates, has resulted in a Zacks Rank #3 (Hold) for Apple.
The chart below shows the evolution of the company's forward 12-month consensus EPS estimate:
12 Month EPS
Projected Revenue GrowthEven though a company's earnings growth is arguably the best indicator of its financial health, nothing much happens if it cannot raise its revenues. It's almost impossible for a company to grow its earnings without growing its revenue for long periods. Therefore, knowing a company's potential revenue growth is crucial.
In the case of Apple, the consensus sales estimate of $108.71 billion for the current quarter points to a year-over-year change of +15.6%. The $478.03 billion and $517.51 billion estimates for the current and next fiscal years indicate changes of +14.9% and +8.3%, respectively.
Last Reported Results and Surprise HistoryApple reported revenues of $111.18 billion in the last reported quarter, representing a year-over-year change of +16.6%. EPS of $2.01 for the same period compares with $1.65 a year ago.
Compared to the Zacks Consensus Estimate of $109.48 billion, the reported revenues represent a surprise of +1.55%. The EPS surprise was +4.69%.
The company beat consensus EPS estimates in each of the trailing four quarters. The company topped consensus revenue estimates each time over this period.
ValuationWithout considering a stock's valuation, no investment decision can be efficient. In predicting a stock's future price performance, it's crucial to determine whether its current price correctly reflects the intrinsic value of the underlying business and the company's growth prospects.
Comparing the current value of a company's valuation multiples, such as its price-to-earnings (P/E), price-to-sales (P/S), and price-to-cash flow (P/CF), to its own historical values helps ascertain whether its stock is fairly valued, overvalued, or undervalued, whereas comparing the company relative to its peers on these parameters gives a good sense of how reasonable its stock price is.
The Zacks Value Style Score (part of the Zacks Style Scores system), which pays close attention to both traditional and unconventional valuation metrics to grade stocks from A to F (an A is better than a B; a B is better than a C; and so on), is pretty helpful in identifying whether a stock is overvalued, rightly valued, or temporarily undervalued.
Apple is graded F on this front, indicating that it is trading at a premium to its peers. Click here to see the values of some of the valuation metrics that have driven this grade.
Bottom LineThe facts discussed here and much other information on Zacks.com might help determine whether or not it's worthwhile paying attention to the market buzz about Apple. However, its Zacks Rank #3 does suggest that it may perform in line with the broader market in the near term.
Apple (AAPL +4.88%) has been a stock market darling over time. This is thanks to the company's long track record of earnings growth, driven by its solid customer base. The company makes some of the hottest devices around, from the top-selling iPhone to the Mac and iPad. Investors appreciate this strength and have piled into the stock, sending it to a gain of more than 1,100% over the past decade.
But, just recently, Apple made a shocking and controversial move. The stock fell 6% on the news, for its worst performance in more than a year. After such an event, is Apple stock one to avoid? Or is now the time to buy shares of the tech giant? Let's find out.
Image source: Getty Images.
The Apple success story First, though, let's catch up on the Apple success story. As mentioned, the tech company makes a variety of devices that have become household names. In fact, even though Apple initially launched the iPhone back in 2007, it hasn't lost its luster. The iPhone 17 was the top-selling smartphone worldwide in the first quarter of this year, and four of the top 10 were iPhones, according to Counterpoint Research.
This product, along with Apple's other devices, has helped the company grow revenue and profit over the past several years. Meanwhile, return on invested capital has also been on the rise, showing that the company has benefited from its spending decisions.
AAPL Revenue (Annual) data by YCharts
In recent times, a new and significant revenue stream has also emerged, and this is services revenue. Over time, Apple has built a massive customer base, now with 2.5 billion active devices. And today, these devices equal recurrent revenue as users sign up for services, from data storage to digital entertainment. Quarter after quarter, services revenue has been reaching new records.
Apple's latest move Now, let's consider Apple's latest move, which is quite controversial. The company, facing rising memory and storage prices, has decided to pass some of this on to its customers in the form of higher prices. Apple said artificial intelligence (AI) data centers have created soaring component demand, and that's put upward pressure on prices.
Apple's moves are as follows:
MacBook Neo will increase to $699 from $599 MacBook Air 512GB will increase to $1299 from $1099 MacBook Pro 1T will increase to $1999 from $1699 iPad Air 128GB will increase to $749 from $599 iPad Pro Wi-Fi 256GB will increase to $1199 from $999 As mentioned, Apple stock sank following the announcement, with the concern being that customers now may think twice before rushing to Apple for a new device. But it's important to remember that one of Apple's key strengths is its moat, or competitive advantage -- and that's the power of its brand.
Today's Change
(
4.88
%) $
14.36
Current Price
$
308.74
Apple's customer loyalty Apple has maintained a general customer retention rate of more than 90% for years, according to SQ Magazine. Customers keep coming back because they greatly appreciate the brand -- and, in many cases, they own several Apple products and like that these devices work together seamlessly.
So I don't think there's a great risk of Apple missing out on sales due to its higher prices. Meanwhile, the company didn't take the move lightly, saying it's "working tirelessly to find solutions."
Of course, some cost-conscious buyers might delay investing in a new Apple device due to the price increase, but I don't think this will be an enormous trend that will pressure earnings over the long term.
Considering all of this, is Apple a buy today? As mentioned, the company's earnings track record and brand strength make it a fantastic investment. Another important point to consider is valuation, and here, we can see that it's higher than it was earlier this year.
AAPL PE Ratio (Forward) data by YCharts
Still, at today's level, Apple is reasonably priced in light of its earnings performance over time and its prospects. And that means, even though the company recently made a controversial move, the stock remains an excellent buy today.
Shares of Apple (AAPL +4.88%) rose on Thursday, following reports that the iPhone maker was gearing up for a lucrative new product launch.
Image source: The Motley Fool.
Foldable iPhones could make their debut early next year Apple is reportedly planning to launch at least five new iPhone models in the first half of 2027, according to Nikkei Asia. That includes a foldable, premium-priced "iPhone Ultra" model.
Apple is said to have boosted its production goal for its new foldable phones to 10 million units, up from a prior target of about 8 million.
Today's Change
(
4.88
%) $
14.36
Current Price
$
308.74
The iPhone Ultra could carry a price tag of roughly $2,500, according to market intelligence firm IDC, and as high as $3,000 with increased storage.
Hunting for cheaper memory Apple is also reportedly seeking a better deal on memory chips. To do so, it's attempting to source them from Chinese chipmakers ChangXin Memory Technologies (CXMT) and Yangtze Memory Technologies (YMTC), according to Bloomberg.
Apple was recently forced to raise prices for Macs and iPads to offset the soaring costs of memory and other components.
If Apple can broaden its production network, it could help to ease supply shortages. Lower memory and other input costs would also bolster Apple's profit margins.
Joe Tenebruso has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Apple. The Motley Fool has a disclosure policy.
Apple (AAPL) is reportedly preparing a bigger iPhone launch cycle, with at least 5 new models planned through the second half of 2026 and first half of 2027.Acc
