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Apple beat earnings eight times in a row and the stock still fell after every single report. With the shares trading above Wall Street's consensus target and memory costs hitting once-in-a-century levels, something has to give heading into October 29.

Apple (NASDAQ:AAPL | AAPL Price Prediction) trades at $336.64. The stock is pricing in a near-flawless year just as Apple heads into its fiscal fourth-quarter report.

Apple makes the iPhone, Mac, iPad and wearables for an installed base of more than 2.5 billion active devices, and it earns more from that base through Services. The iPhone 17 cycle, steady double-digit revenue growth and excitement over Siri AI have lifted the stock 24.17% year to date. Reports of iPhone 18 Pro component order cuts knocked it down 1.11% in the latest session.

Record Demand and Siri AI Fuel the Bull Case Fiscal third-quarter revenue rose 16.4% to $109.42 billion. EPS of $2.02 exceeded the $1.89 consensus. iPhone revenue grew 22% and Mac grew 29%. Demand ran ahead of supply, and management said “the iPhone and the Mac are both doing remarkably better than we thought they would do.”

Consensus calls for fiscal 2027 EPS of $9.5758, up from $8.8202. Possible drivers include Siri AI, paid iCloud Plus upgrades, the Apple Upgrade leasing program and a $100 billion buyback authorization.

Memory Costs and Supply Limits Threaten a Premium Multiple Apple’s trailing earnings multiple is 39, with a PEG ratio of 2.706, even as guidance calls for growth to slow to 9% to 11%. Tariff refunds added about two percentage points to the 50.1% gross margin and 11 cents to EPS. September-quarter guidance of 47% to 48% also leans on refunds, while management described memory pricing as a “100-year flood”.

Analysts made 14 downward revisions to fiscal fourth-quarter EPS over the past 30 days, against 7 upward ones. Management also expects supply constraints to increase significantly.

Strong Execution Meets a Fully Priced Stock Record installed-base and Services numbers bolster the bullish view. Margins that depend on one-time refunds and earnings estimates that keep getting cut support the bear case. Four signals would settle the question: December-quarter guidance against the $2.9059 EPS consensus, gross margin excluding refunds, supply commentary and Siri AI approvals in the EU and China.

Apple Has Outrun Both the S&P 500 and Its Price Targets Apple has gained 33.01% over the past year, against 16% for the S&P 500. Year to date, it is up 24.17%, compared with 14.17% for the index. The average price target of $328.09 implies about 2.5% downside. This target shows the stock has run ahead of Wall Street. Ratings from 44 analysts break down as follows:

Strong Buy: 6 Buy: 19 Hold: 13 Sell: 3 Strong Sell: 3 What Apple Must Prove in Its Fiscal Q4 Report At $336.64, Apple’s valuation leaves little room for error.

Beating estimates has failed to lift the stock. Apple beat in all of its last 8 reports, yet the stock moved an average of -1.53% on earnings day. Last quarter it fell 7.35% despite a 6.8% surprise. With the stock near its $345.34 52-week high, another solid quarter faces a high bar.

The outlook would improve if management guides for a strong holiday quarter and shows gross margin holding without refund support. It would weaken if memory costs push margins below guidance or the iPhone 18 Pro reports point to weaker demand.

The stock already sits above its consensus target. Apple remains an excellent business, and the next test is proof that margins can hold without one-time help.

Contact [email protected] for any questions or corrections.

In Brief

Posted:

Image Credits:Brian Heater / TechCrunch Apple will announce a new smart home hub on Tuesday called the HomeView, according to Bloomberg’s Mark Gurman.

Over the past couple of years, we’ve seen There have been multiple reports that Apple was working on a new smart home product, but now it seems the product has a name and a launch date. Gurman described the HomeView as a Siri-powered device with a display and an A18 chip, allowing customers to control their other smart home devices.

The HomeView will reportedly be available in two models — one designed for countertops and the other to be mounted on walls. 

This would be Apple’s most serious bet on the smart home to date, after it failed to get much traction for its HomeKit software framework or its HomePod smart speaker. 

Gurman reports that on Tuesday, Apple will also be unveiling updated versions of two other home devices, namely the Apple TV set-top box and the HomePod mini. Earlier this week, he said that Apple plans to announce a partnership with LG to create a smart lock, a thermostat, and a doorbell.

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Apple revealed in a regulatory filing that it has reached an agreement to bring on team members and technology from personalized audio startup Huxe, in what’s commonly known as a reverse acqui-hire deal.

As first reported in MacRumors, Apple disclosed to the European Commission that it has agreed to make employment offers to “certain employees of Huxe AI,” and to “receive a non-exclusive license to Huxe’s intellectual property rights.”

Reverse acqui-hires emerged in recent years as a way for larger companies to hire key team members and license technology from startups without acquiring the startups outright — presumably allowing them to build up AI talent and tech without drawing as much antitrust scrutiny. (Confusingly, these deals have both been referred to as “reverse acqui-hires” and as plain old “acqui-hires.”)

In the case of Huxe, the startup was founded by developers who’d previously worked on the AI-generated podcast features in NotebookLM (recently renamed Gemini Notebook). But Huxe announced on May 21 that it was shutting down, with the team posting on the Huxe website that the company would be removing its app from the Apple and Google stores, halting service, and deleting user data.

“The team is moving on to new things, and we won’t be continuing development of the product,” the company said. It also thanked its users, saying, “The fact that you used it, told friends about it, sent us your suggestions and your ideas, made it feel like we built it together.”

On June 9, shortly after Huxe’s announcement, Apple notified the European Commission of its deal.

The filing does not say who received employment offers or if they accepted. Nor does it disclose anything about Apple’s plans.

Possibly related: Huxe’s shutdown announcement came just a day after Spotify unveiled AI-powered podcast generation features of its own, so Apple could be hoping to add similar functionality to its Podcasts app. Tech executives seem enamored with the idea that personalized audio can replace regular podcasts (and maybe even parent-child interaction?), though it’s not clear how many normal listeners agree.

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Anthony Ha is TechCrunch’s weekend editor. Previously, he worked as a tech reporter at Adweek, a senior editor at VentureBeat, a local government reporter at the Hollister Free Lance, and vice president of content at a VC firm. He lives in New York City.

You can contact or verify outreach from Anthony by emailing [email protected].

Apple Inc (NASDAQ:AAPL, XETRA:APC) faces growing iPhone 18 Pro demand concerns as delivery waits shorten, with UBS retaining a ‘neutral’ rating and $296 price target.

UBS Evidence Lab data covering more than 30 geographies showed average iPhone 18 Pro wait times shortened by about six days over the week.

The broker said falling waits against stable supply were increasingly concerning, particularly after price rises heightened the risk that customers would become more sensitive to cost.

However, Pro Max wait times remained relatively steady over the week, averaging about 24 days, down from 25 days for the previous model a year earlier.

These mixed signals precede the start of preorders for the $1,999 iPhone Duo on 16 October 2026, with availability following on 23 October.

UBS expects the Duo to draw demand from high-end Pro Max devices, leaving Pro Max waits flat to slightly lower the following week versus the previous model a year earlier.

Despite its concerns, UBS left iPhone estimates unchanged, forecasting September 2026 quarter revenue of $55.9 billion, up 14.0%, against management guidance for mid-teens growth.

Its forecast of 55.0 million iPhones for the quarter, up 2.8%, remains below consensus of 57.8 million units.

For the 2026 financial year, UBS expects iPhone revenue of $252.4 billion, up 20.4%, compared with consensus of $252.2 billion.

The broker’s valuation balances solid iPhone demand against mounting gross-margin pressure and supply-chain challenges.

Endeavor Private Wealth Inc. boosted its stake in shares of Apple Inc. (NASDAQ:AAPL – Free Report) by 22.3% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 16,311 shares of the iPhone maker’s stock after acquiring an additional 2,973 shares during the quarter. Apple comprises about 1.1% of Endeavor Private Wealth Inc.’s investment portfolio, making the stock its 22nd biggest position. Endeavor Private Wealth Inc.’s holdings in Apple were worth $4,720,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in AAPL. Berkshire Hathaway Inc bought a new stake in shares of Apple in the 2nd quarter worth about $65,950,297,000. Bank of America Corp DE bought a new position in Apple during the 2nd quarter valued at about $36,986,090,000. Legal & General Group Plc purchased a new stake in Apple in the 2nd quarter worth about $30,443,242,000. Nuveen LLC lifted its stake in Apple by 3.8% in the fourth quarter. Nuveen LLC now owns 75,000,920 shares of the iPhone maker’s stock worth $20,389,750,000 after purchasing an additional 2,725,121 shares during the last quarter. Finally, Amundi lifted its stake in Apple by 23.2% in the first quarter. Amundi now owns 73,082,616 shares of the iPhone maker’s stock worth $18,547,637,000 after purchasing an additional 13,780,080 shares during the last quarter. 67.73% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth A number of research firms have recently commented on AAPL. Seaport Research Partners cut Apple from a “buy” rating to a “neutral” rating in a research note on Monday, August 17th. DZ Bank downgraded Apple from a “buy” rating to a “hold” rating and set a $310.00 price objective on the stock. in a research report on Tuesday, August 4th. Rothschild & Co Redburn set a $400.00 target price on Apple and gave the stock a “buy” rating in a research note on Monday, August 17th. UBS Group reiterated a “neutral” rating on shares of Apple in a research report on Tuesday. Finally, Barclays reissued an “underweight” rating and set a $245.00 target price (down from $253.00) on shares of Apple in a research note on Friday, July 31st. One research analyst has rated the stock with a Strong Buy rating, twenty-five have issued a Buy rating, fourteen have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $340.02.

Read Our Latest Stock Report on AAPL Apple News Summary Here are the key news stories impacting Apple this week:

Positive Sentiment: AI monetization opportunity: Analyst Dan Ives said Apple could become a “toll collector” for consumer AI by leveraging more than 2.5 billion active devices and its Services ecosystem. He sees the opportunity adding as much as $75 per share to Apple’s valuation. Apple Could Be the Toll Collector of Consumer AI Positive Sentiment: Smart-home expansion: Apple is expected to unveil new connected-home products, potentially including a doorbell, thermostat, lock and other accessories developed with LG Electronics, at its October 13 “Welcome Home” event. The initiative could broaden Apple’s hardware and Services opportunity while strengthening HomeKit against Amazon and Google. Apple Smart Home Push Positive Sentiment: M&A leadership change: Apple appointed veteran insider Steve Smith as head of mergers and acquisitions, replacing Adrian Perica, who is moving to the Services division. Investors may view the change as support for a more active acquisition strategy and tighter alignment between dealmaking and Services growth. Apple Names Steve Smith New M&A Chief Positive Sentiment: Tokenized-stock exposure: Securitize launched tokenized versions of Apple and 11 other major U.S. stocks on Solana. The offering could increase visibility for Apple’s shares and reflects broader demand for digital access to large-cap equities, although the direct financial effect on Apple is limited. Securitize Launches Tokenized U.S. Equities Neutral Sentiment: Management is pursuing faster execution: CEO John Ternus is reportedly considering more frequent product releases and fewer management layers. The changes could improve innovation, but commentary also highlights that Siri and Apple’s AI execution remain areas where investors want faster progress. Apple Is Speeding Up, Siri Isn’t Negative Sentiment: Valuation and margin risks: Apple trades at a premium earnings multiple after a strong year-to-date advance. Morgan Stanley lowered its price target to $355 despite raising revenue estimates, citing softer iPhone pricing and higher memory-chip costs. Bank of America also warned that Meta’s AI developments could challenge Apple’s Services ecosystem. Morgan Stanley Is Bullish on Apple With a Catch Negative Sentiment: Insider selling and concentration concerns: Senior Vice President Jennifer Newstead sold 2,399 shares, a relatively small transaction that may nevertheless add to investor caution. Separately, Apple’s huge weighting in the S&P 500 leaves index investors vulnerable if the stock or other mega-cap technology shares retreat. Apple Insider Transaction Filing Insider Transactions at Apple In other Apple news, CEO John Ternus sold 25,412 shares of the business’s stock in a transaction dated Friday, October 2nd. The shares were sold at an average price of $332.94, for a total transaction of $8,460,671.28. Following the sale, the chief executive officer directly owned 59,567 shares in the company, valued at $19,832,236.98. This represents a 29.90% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Timothy Cook sold 191,753 shares of the stock in a transaction dated Friday, October 2nd. The stock was sold at an average price of $332.96, for a total transaction of $63,846,078.88. Following the sale, the insider directly owned 3,264,168 shares in the company, valued at $1,086,837,377.28. This represents a 5.55% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last quarter, insiders have sold 279,383 shares of company stock valued at $92,912,517. Insiders own 0.06% of the company’s stock.

Apple Stock Up 1.1% Apple stock opened at $340.42 on Friday. Apple Inc. has a 1-year low of $243.42 and a 1-year high of $345.34. The stock has a market capitalization of $4.97 trillion, a price-to-earnings ratio of 39.04, a PEG ratio of 2.68 and a beta of 1.07. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.00 and a quick ratio of 0.93. The business has a fifty day moving average price of $322.06 and a 200-day moving average price of $302.76.

Apple (NASDAQ:AAPL – Get Free Report) last announced its quarterly earnings data on Thursday, July 30th. The iPhone maker reported $2.02 earnings per share for the quarter, beating analysts’ consensus estimates of $1.89 by $0.13. Apple had a net margin of 27.62% and a return on equity of 135.46%. The firm had revenue of $109.42 billion for the quarter, compared to analyst estimates of $109.04 billion. During the same period in the previous year, the company earned $1.57 earnings per share. The business’s quarterly revenue was up 16.4% compared to the same quarter last year. Equities research analysts forecast that Apple Inc. will post 8.75 EPS for the current fiscal year.

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

Apple Profile (Free Report)

Apple Inc is a technology company that designs, develops and markets consumer electronics, software and digital services. Its best-known products include the iPhone smartphone, Mac personal computers, iPad tablets, Apple Watch, AirPods and other accessories. The company also develops operating systems and software platforms, including iOS, macOS, iPadOS, watchOS and visionOS.

Apple’s services business includes the App Store, Apple Music, Apple TV+, Apple Arcade, Apple News+, Apple Fitness+ and iCloud.

Featured Articles Five stocks we like better than Apple Want Private-Market Access to Kalshi and Polymarket? Try This ETF Levi’s Stock Dip Reveals Value Opportunity Despite Q3 Headwinds PepsiCo Stock Looks Poised to Bottom With High Yield, Deep Value Alphabet’s $1.8 Billion Black Hills Deal Powers AI Data Center Push Want to see what other hedge funds are holding AAPL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Apple Inc. (NASDAQ:AAPL – Free Report).

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Apple (NASDAQ: AAPL) stock fell nearly 2% in pre-market trading on Friday, October 9, following a report that the company reduced production of components for its newly launched iPhone 18 models. 

Namely, rising memory chip costs and higher retail prices appear to have weighed on consumer demand, which has led to Apple adopting a more cautious approach to shipments last month, as reported by Nikkei Asia.

As a result, the company cut October component orders by at least 15% compared with its original requests. However, as of press time, Apple is yet to make an official statement.

At the time of writing, AAPL shares were sitting at $333.8 in pre-market.

Apple stock price one-day chart. Source: Google Finance Is low consumer demand putting pressure on Apple stock? According to the reports, the production adjustments come as Apple competes for advanced semiconductors and memory chips to power artificial intelligence (AI) data centers. The highly competitive market has, however, contributed to supply shortages and higher prices, putting pressure on the personal computer and smartphone markets.

Indeed, Apple has already raised prices for some iPad and MacBook models in June, acknowledging that it could no longer fully absorb the rising costs of memory and storage components driven by investment in AI infrastructure.

In addition, consumer demand for devices has reportedly weakened from late August through October. However, Nikkei noted that Apple’s changes to the iPhone launch schedule could also be contributing to the issue, which makes it difficult to attribute the slowdown to pricing alone.

Be that as it may, rising memory costs are becoming an increasingly important factor for Apple as it incorporates more AI-powered features into its devices. After all, such features require greater computing and memory resources, which increases reliance on high-performance chips.

Ultimately, the iPhone order cut reports further highlight a growing challenge for the technology industry, as the major players attempt to balance rising component costs and increasingly expensive devices against consumer demand.

Featured image via Shutterstock

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An Apple logo appears in this illustration taken August 25, 2025. REUTERS/Dado Ruvic/Illustration/File Photo Purchase Licensing Rights, opens new tab

CompaniesOct 8 (Reuters) - Apple (AAPL.O), opens new tab appointed insider Steve Smith as head of mergers and acquisitions, while ​moving Adrian Perica to its services division, ‌according to a memo seen by Reuters on Thursday.

Perica, a more than 17-year veteran of Apple's M&A ​and corporate development function, also took ​oversight of iCloud, Fitness+ and News, among ⁠other businesses, in 2023, the memo written ​by services chief Eddy Cue said.

Sign up here.

Here are some ​details:

Perica will now dedicate his efforts entirely to the services leadership team and report to Cue, the memo ​said

Apple did not immediately respond to a ​Reuters request for comment on the move, which marks ‌one ⁠of the latest management shifts under new CEO John Ternus

"We have big plans for services and I'm thrilled to be getting more of ​Adrian's time," ​Cue wrote ⁠in the memo

Smith will report to Chief Financial Officer Kevan Parekh, ​the memo said

The company is also ​promoting ⁠Carson Oliver to vice president of the App Store, according to Bloomberg News, which first ⁠reported ​the development earlier in the ​day

Shares of Apple were up about 1.4% on Thursday

Adds shares

Reporting by ​Jaspreet Singh in Bengaluru; Editing by Shilpi Majumdar

Our Standards: The Thomson Reuters Trust Principles., opens new tab

Apple sits on 2.5 billion active devices and a Services engine already running near $120 billion annually, yet one margin warning and a below-consensus analyst target raise a serious question about whether the premium is earned.

This post may contain links from our sponsors and affiliates, and Flywheel Publishing may receive compensation for actions taken through them.

Apple (NASDAQ:AAPL | AAPL Price Prediction) trades at $332.59. Our 24/7 Wall St. price target for Apple is $388.32 over the next 12 months, which means 16.76% upside.

Metric Value Current Price $332.59 24/7 Wall St. Price Target $388.32 Upside/Downside 16.76% Model Rating BUY Confidence Level High (0.9 on a 0 to 1 scale) Apple’s growth opportunity comes from monetizing Apple’s installed base of more than 2.5 billion active devices running the new Siri AI. Services generated $30.74B last quarter, putting the annual run rate near $120B.

Paid AI levels, smart-home hardware, and a foldable iPhone could each expand recurring revenue. The model carries high confidence because the target rests on actual earnings momentum.

Record iPhone 17 Quarters Keep Apple Near Its 52-Week High Apple shares slipped 1.7% over the past week but remain up 22.7% year to date and 29.4% over one year, near the top of its 52-week range of $242.76 to $345.34. Fiscal Q3 revenue rose 16.4% to $109.42B, beating the $108.96B estimate. EPS came in at $2.02 against $1.89 expected, the 9th straight beat.

In September Apple launched the iPhone Duo, its first foldable, priced at $1,999. Fortune also reported that Oura pulled its IPO in part because of an “Apple-sized threat”.

Why Bulls See $440 Within Reach Our bull case reaches $440.48, a 32.44% return. On CNBC’s Fast Money, one panelist argued that “Services have 75% margin and it’s 42% of the business and growing.”

On the July call, Tim Cook, who was CEO at the time, said Apple was considering iCloud Plus upgrades for heavy Siri AI users. Bloomberg’s Mark Gurman expects Apple to produce 7 to 10 million foldables, and he has also pointed to a smart-home hub as an upcoming product category.

Capital returns add support through a $100B buyback authorization. Among covering analysts, 6 rate the stock a strong buy and 19 rate it a buy.

Tariff Refunds and Memory Costs Could Pin Shares Near $331 The bear case is $331.19. Q3 tariff refunds added about 2 pts to gross margin and around $0.11 to EPS. Apple guided September-quarter gross margin to 47% to 48%, down from 50.1%, as memory costs rise.

The consensus target of $328.09 sits below current price, and 3 analysts rate it a strong sell. Bulls counter that margin pressure reflects investment: R&D rose to $11.73B from $8.9B as Apple builds AI capabilities.

Apple Commands a Premium Over Its Big Tech Peers Company Trailing P/E Latest Quarterly Revenue Growth Apple 43 16.4% Microsoft (NASDAQ:MSFT) 29 17.75% Alphabet (NASDAQ:GOOGL) 15 24.23% Microsoft (NASDAQ:MSFT) offers the closest AI monetization comparison. Azure grew 43%, yet Microsoft trades at a lower multiple.

Alphabet (NASDAQ:GOOGL) competes through Android and Gemini, but its low P/E reflects a $99.03 billion equity gain and suspended buybacks. Apple’s capital returns help justify its premium.

Against these peers, our 24/7 Wall St. price target looks reasonable.

Siri AI Tips Our Model to a Buy Rating Our 24/7 Wall St. price target of $388.32 carries a buy rating and high confidence. Earnings growth of 0.287 outweighs the premium multiple.

Our model’s upside case depends on Siri AI driving iCloud upgrades and Services continuing to grow, a theme that goes well beyond the chipmakers (we covered seven of the suppliers supporting the AI expansion, from power to cooling, in a free report you can grab here).

Caution would rise if gross margin stays below 48% after tariff refunds roll off. Overall, the model considering upside above the identified risks.

Apple Price Prediction 2026-2030 Year 24/7 Wall St. Price Target Bull Bear 2026 $347.49 $353.71 $330.16 2027 $389.11 $423.16 $331.36 2028 $436.05 $500.94 $335.17 2029 $482.76 $546.49 $340.98 2030 $520.21 $605.18 $356.98 Contact [email protected] for any questions or corrections.

Saudi Central Bank increased its position in shares of Apple Inc. (NASDAQ:AAPL – Free Report) by 89.4% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,027,683 shares of the iPhone maker’s stock after buying an additional 485,166 shares during the quarter. Apple accounts for 3.8% of Saudi Central Bank’s portfolio, making the stock its 5th biggest holding. Saudi Central Bank’s holdings in Apple were worth $297,370,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in AAPL. Hutchens & Kramer Investment Management Group LLC raised its holdings in Apple by 9.2% in the 2nd quarter. Hutchens & Kramer Investment Management Group LLC now owns 15,337 shares of the iPhone maker’s stock valued at $4,438,000 after acquiring an additional 1,296 shares in the last quarter. Semitam Bonam LLC lifted its position in shares of Apple by 10.0% in the 2nd quarter. Semitam Bonam LLC now owns 2,176 shares of the iPhone maker’s stock worth $630,000 after acquiring an additional 198 shares during the period. Chico Wealth RIA grew its holdings in shares of Apple by 3.9% during the 2nd quarter. Chico Wealth RIA now owns 6,408 shares of the iPhone maker’s stock worth $1,854,000 after purchasing an additional 242 shares in the last quarter. Riverview Capital Advisers LLC grew its holdings in shares of Apple by 0.9% during the 2nd quarter. Riverview Capital Advisers LLC now owns 86,199 shares of the iPhone maker’s stock worth $24,943,000 after purchasing an additional 757 shares in the last quarter. Finally, Kaydan Wealth Management Inc. increased its position in shares of Apple by 0.9% during the second quarter. Kaydan Wealth Management Inc. now owns 10,511 shares of the iPhone maker’s stock valued at $3,042,000 after purchasing an additional 95 shares during the period. 67.73% of the stock is currently owned by institutional investors.

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

Positive Sentiment: Apple is reportedly partnering with LG Electronics to develop a smart-home lineup including a doorbell, smart lock, thermostat and other accessories tied to a new Apple home hub. The initiative could expand the HomeKit ecosystem, create new hardware and services revenue, and intensify competition with Amazon’s Ring and Google’s Nest. Apple partners with LG on smart-home devices Positive Sentiment: Apple’s App Store revenue growth reportedly rebounded to 5% in September after a weaker August. Continued Services momentum supports the company’s recurring-revenue profile, though investors are watching whether the improvement proves durable. Apple App Store growth rebounds Neutral Sentiment: CEO John Ternus sold 25,412 shares worth about $8.5 million to cover tax withholding tied to equity vesting. Because the transaction was tax-related rather than described as discretionary selling, it is unlikely to materially change the investment case, though it may create short-term headline pressure. Apple CEO stock sale Negative Sentiment: Morgan Stanley lowered its Apple price target to $355 despite raising revenue forecasts, citing softer iPhone pricing and higher memory-chip costs that could compress gross margins. The target is only modestly above recent trading levels, limiting perceived upside. Morgan Stanley cuts Apple price target Negative Sentiment: Several valuation comparisons highlight that investors pay substantially more for each dollar of Apple’s earnings than for Nvidia’s, despite Nvidia’s stronger recent profitability. With AAPL trading at an elevated earnings multiple, the stock may require sustained iPhone, Services and AI growth to justify its premium. Nvidia versus Apple valuation comparison Analyst Ratings Changes A number of research analysts recently commented on AAPL shares. Oppenheimer restated a “market perform” rating on shares of Apple in a research note on Thursday, September 10th. Phillip Securities boosted their price target on shares of Apple from $290.00 to $300.00 and gave the company a “neutral” rating in a report on Monday, September 14th. Citigroup restated a “buy” rating on shares of Apple in a research note on Thursday, September 10th. Weiss Ratings downgraded shares of Apple from a “buy (b)” rating to a “buy (b-)” rating in a report on Friday, September 18th. Finally, Seaport Research Partners lowered shares of Apple from a “buy” rating to a “neutral” rating in a research report on Monday, August 17th. One investment analyst has rated the stock with a Strong Buy rating, twenty-five have given a Buy rating, fourteen have issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $340.02. Check Out Our Latest Stock Report on Apple

Apple Trading Up 0.9% Shares of AAPL stock opened at $336.67 on Thursday. The company has a market capitalization of $4.91 trillion, a P/E ratio of 38.61, a P/E/G ratio of 2.66 and a beta of 1.07. Apple Inc. has a 12-month low of $243.42 and a 12-month high of $345.34. The company has a quick ratio of 0.93, a current ratio of 1.00 and a debt-to-equity ratio of 0.66. The firm has a 50-day moving average price of $321.92 and a 200 day moving average price of $302.11.

Apple (NASDAQ:AAPL – Get Free Report) last issued its quarterly earnings data on Thursday, July 30th. The iPhone maker reported $2.02 earnings per share for the quarter, topping the consensus estimate of $1.89 by $0.13. The firm had revenue of $109.42 billion for the quarter, compared to analysts’ expectations of $109.04 billion. Apple had a net margin of 27.62% and a return on equity of 135.46%. The company’s quarterly revenue was up 16.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.57 earnings per share. Research analysts forecast that Apple Inc. will post 8.75 earnings per share for the current fiscal year.

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

Insiders Place Their Bets In related news, SVP Jennifer Newstead sold 2,399 shares of the firm’s stock in a transaction on Tuesday, September 29th. The stock was sold at an average price of $336.18, for a total transaction of $806,495.82. Following the completion of the sale, the senior vice president directly owned 41,992 shares of the company’s stock, valued at $14,116,870.56. This trade represents a 5.40% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO John Ternus sold 25,412 shares of Apple stock in a transaction on Friday, October 2nd. The shares were sold at an average price of $332.94, for a total value of $8,460,671.28. Following the completion of the transaction, the chief executive officer owned 59,567 shares of the company’s stock, valued at approximately $19,832,236.98. The trade was a 29.90% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 276,984 shares of company stock valued at $92,116,025 in the last 90 days. Insiders own 0.06% of the company’s stock.

Apple Company Profile (Free Report)

Apple Inc is a technology company that designs, develops and markets consumer electronics, software and digital services. Its best-known products include the iPhone smartphone, Mac personal computers, iPad tablets, Apple Watch, AirPods and other accessories. The company also develops operating systems and software platforms, including iOS, macOS, iPadOS, watchOS and visionOS.

Apple’s services business includes the App Store, Apple Music, Apple TV+, Apple Arcade, Apple News+, Apple Fitness+ and iCloud.

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When a Wall Street heavyweight like Morgan Stanley calls a company's next two years “the most exciting” it can remember, you would expect it to raise its price target, not trim it. Yet that’s where it found itself with Apple Inc. NASDAQ: AAPL last week, and the contradiction says a lot about where the tech giant stands today.

In a note following Apple's recent product launch, Morgan Stanley stayed firmly in the bull camp, keeping its Overweight rating and lauding the upcoming roadmap under new CEO John Ternus.

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And yet it still nudged its price target down, to $355 from $360.

For a stock that has climbed more than 20% this year and sits near record highs, the mix of enthusiasm and caution is telling.

So what’s going on, and is this really a mixed picture dressed up as good news? As we’ve been highlighting in recent weeks, much of the answer lies in whether Apple can not only sell more iPhones, but also make more money from them.

A Stronger Top LineLet’s start with the good news in Morgan Stanley’s note, because there was plenty of it. Analyst Erik Woodring came away from Apple’s launch feeling optimistic and lifted his revenue forecasts on stronger iPhone shipments, continued strength in Mac sales, and better-than-expected pricing in its Services arm.

Woodring’s longer-term view is rosier still, and he believes the product push under Ternus could deliver something Apple has not managed in a decade: four straight years of growth in iPhone unit sales. Fresh hardware, a smarter Siri, and the pull of Apple's sprawling ecosystem all feed into a case for above-trend growth.

Investors have clearly been leaning into that potential too. After an initial wobble during the launch itself, Apple shares have recovered in the weeks since, as the market latched onto the promise of stronger demand and the pricier new iPhone lineup. For now, the mood is cautious optimism.

Apple Inc. (AAPL) Price Chart for Wednesday, October, 7, 2026

Why the Target Still SlippedHere’s the catch, however. Despite the extra revenue it now expects, Morgan Stanley trimmed its earnings forecasts for both this financial year and next. The reason is classic: selling more units doesn't help much if each sale is less profitable.

Two forces are at work here. Firstly, Apple raised the price of its Pro model by $100, a decent bump but less than the $150-$200 increase Morgan Stanley had expected. That leaves the average iPhone selling for a little less than the firm had penciled in, squeezing the profit on every handset.

Second, and more stubborn, is the rising cost of memory chips. Soaring demand for the components that go into AI systems has pushed up prices across the industry, and Apple is far from immune. Those higher costs eat directly into its margins, and by the company's own admission, they are the main reason its underlying profitability has slipped.

The Bull and Bear Tug of WarThis tension sits at the heart of the debate over Apple right now. The bulls, led by Morgan Stanley, argue that stronger unit sales, a richer product mix, and the long runway of AI-driven upgrades will ultimately win out. They point to healthy early demand for the iPhone 18 Pro and the fresh appeal of the foldable Duo as evidence the upgrade cycle has legs.

The bears are less convinced the revenue will reach the bottom line. Beyond the memory-cost squeeze, they worry higher prices could push buyers to hold onto their phones longer, and that the pricey Duo may cannibalize Pro Max sales rather than add new ones. Questions also remain about whether Apple's AI efforts can keep pace with faster-moving rivals.

That split is visible across Wall Street itself. On Oct. 6, UBS Group reiterated a more cautious Neutral rating with a $296 price target, flagging still-sluggish growth in the App Store, a direct counterweight to Morgan Stanley's upbeat take the week before. With Apple due to report earnings later this month, both camps will soon have hard numbers to argue over.

A Mixed Picture, Maybe, But Not a Bearish OneSo where does all this leave the stock? Taken together, the message is nuanced rather than negative. Apple's products are clearly still red hot, and its ability to sell them in volume is hardly in doubt. The real question is how much of that strength survives the journey from revenue to profit, once memory costs and softer pricing take their toll.

For investors, the takeaway is one of patience. Apple remains a high-quality business with a formidable product cycle ahead, and it still holds a Moderate Buy consensus rating on MarketBeat. But with its margins under increasing pressure and the shares already near record highs, the easiest gains may already be behind it. That means the bigger prize will likely go to those willing to look past a potentially bumpy quarter or two and bet that Apple can confidently convert its current product strength into future profits.

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The market sees a phone company that missed the AI revolution, but one investor keeps buying shares and believes Wall Street has the story exactly backwards.

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I added to my Apple (NASDAQ:AAPL | AAPL Price Prediction) position this month and expect to add more after the October 29 earnings report. The market has misunderstood Apple’s AI strategy.

Why I Keep Coming Back Apple owns the device in your pocket and the relationship with it. The company counts more than 2.5 billion active devices, with iPhone install base at an all-time high in the June quarter. Apple delivers AI to a customer base it already owns, and that base is where the boom comes from.

Three Reasons the Data Backs Me Up First, Apple can monetize AI without heavy data center spending. Tim Cook described Siri AI as “a completely reimagined version of Siri that is profoundly capable, deeply personal, and integrated seamlessly across our platforms.” It runs on-device and via Private Cloud Compute. Cook called on-device AI “very strategic and sort of a competitive weapon.” Paid iCloud+ upgrades sit atop Services revenue of $30.74B last quarter, up from $27.42B a year earlier, with 1.5 billion paid subscriptions.

Second, hardware demand is strong. iPhone revenue reached $54.25B versus $44.58B a year ago. Mac revenue grew 29%. Apple posted EPS of $2.02 against $1.8914 consensus, its 9th consecutive EPS beat.

Third, Apple keeps sending cash back to shareholders. The board authorized an additional $100B buyback, Apple repurchased $62.094B of stock in the nine months through June 27, 2026, and it raised the dividend 4% to $0.27 per quarter. Return on invested capital stands at 53.35%.

Why My Money Goes Here Instead of Microsoft Microsoft (NASDAQ:MSFT) offers a different path to AI exposure. Microsoft’s P/E of 29 looks cheaper than Apple’s 43, but it is spending heavily on AI infrastructure. Fiscal 2026 capital spending hit $115.948B, up 79.62%, while free cash flow fell 6.46% to $66.987B. Microsoft trades at 59x free cash flow versus 49x for Apple. I prefer the company whose customers pay for AI hardware themselves.

Risks I Refuse to Ignore Memory costs worry me. Cook called it “a 100-year flood on the memory pricing with exponential increases in memory prices,” with further rises expected. The June quarter’s 50.1% gross margin included about two points from tariff refunds worth $0.11 of EPS. Guidance calls for 47% to 48%. Greater China revenue fell to $14.49B from $15.03B.

Apple guided September-quarter revenue growth of 9% to 11%, with supply constraints from demand exceeding forecasts. Analysts expect EPS of $9.5758 for fiscal 2027, up from $8.8202 for fiscal 2026. Cook said: “We look at all three dimensions and think about it over the long term instead of a 90-day clock.”

Catalysts That Could Drive Apple Higher Siri AI awaits regulatory approval in the EU and China. iCloud+ upgrades have yet to launch. Apple’s $30 billion-plus Broadcom (NASDAQ:AVGO) silicon deal strengthens chip control, the kind of infrastructure strategy we mapped out in a free report on the AI buildout beyond the chipmakers. Over ten years, shares returned 1179.19%. The market prices Apple as a phone maker that missed AI. I see a company putting AI on 2.5 billion devices.

Contact [email protected] for any questions or corrections.

Tim Cook had enormous shoes to fill when he took over the Apple (AAPL -0.07%) CEO role from Steve Jobs in 2011. Jobs was a visionary leader, and skeptics weren't sure Cook was the right person to lead the consumer tech company into its next chapter. Fifteen years later, and the proof is in the pudding: Over Cook's tenure, the tech giant experienced massive growth as its market cap ballooned from $350 billion to approximately $4.75 trillion.

John Ternus took over from Cook on Sept. 1, and as his time at the helm of Apple begins, he faces the same sort of questions. Long-term investors want to know: Can Ternus match Cook's incredible run? How will the growth curve bend now?

New Apple CEO John Ternus. Image source: Apple.

Apple is a dominant global player Apple is in terrific shape, and that's both good and bad news for Ternus. The company is a well-oiled machine, but expectations will remain elevated. In its fiscal third quarter, revenue grew 16% year over year. The growth was driven by iPhone sales that rose 21.7% and services revenue that rose 12%. Total revenue reached $109.4 billion.

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Ternus is inheriting a business with immense recurring, high-margin, and diversified revenue. The downside is that the company's latest revenue guidance was fairly muted -- only 9% to 11% for the current quarter -- as management anticipates intensifying supply constraints. This will mark Ternus' first challenge, and investors will closely watch how he navigates this period.

There's also the problem with China. Under Cook, Apple became extremely reliant on Chinese manufacturing. Ternus will need to work through geopolitical tensions, the need to geographically diversify its manufacturing footprint, and U.S. pressure to onshore more of its manufacturing. And there are plenty of questions about Apple's long-term position in the artificial intelligence race.

Apple will be just fine The good news is that Ternus is a 25-year Apple veteran and has had a front-row seat to all that the iPhone maker has endured over the last quarter-century. If the iPhone 18 Pro and iPhone Ultra (priced at more than $2,000) are successful, those will be not only morale wins but also economic ones.

Duplicating Cook's run won't be easy. I'd expect Ternus to usher in a new era of steady, but dialed-back growth over the next several years. A return to a focus on excellent design and innovation will be the real mark of success for the engineer-turned-executive.

Apple isn't a young, scrappy tech start-up. It's one of the largest companies in the world, and its cash-generating ability is astounding. It's still worth investing in, but it's not the growth stock it once was, and that's OK.

Toronto, Ontario--(Newsfile Corp. - October 5, 2026) - TempraMed Technologies Ltd. (CSE: VIVI) (OTCQB: TMPTF) (FSE: 9DY) ("TempraMed" or the "Company"), a medical technology company transforming the storage, protection and management of temperature-sensitive medications, is pleased to announce that its VIVI Cap Smart™ platform now supports connectivity with Apple Health and Google Fit, advancing the Company's strategy to make injectable medication use visible within leading health and wellness ecosystems.

VIVI Cap Smart™ is TempraMed's connected temperature-protection device for insulin pens, GLP-1 therapies and other injectable medications. The product combines TempraMed's validated passive thermal-shield technology with digital capabilities designed to help patients monitor medication exposure, track injections, receive reminders and share medication-use information with caregivers, healthcare professionals and remote patient management systems.

Management believes this connectivity represents an important strategic milestone for TempraMed as the healthcare market shifts toward home-based care, wearable devices, AI-enabled health platforms and patient-generated health data. While today's wearable and health platforms commonly track activity, heart rate, glucose, sleep, app engagement and health records, injectable medication use remains a major missing signal. VIVI Cap Smart is designed to close this gap by capturing medication-use and temperature-integrity data from the injectable therapies patients use every day.

Highlights

Connects injectable medication use to leading health platforms: VIVI Cap Smart connectivity with Apple Health and Google Fit is designed to allow patients to include injection-related information alongside broader personal health data.

Creates a new data layer for injectables: The platform helps capture injection activity, medication reminders, temperature exposure and adherence-related signals from insulin, GLP-1 and other injectable medication use.

Supports home-care and remote monitoring models: VIVI Cap Smart is designed to enable better visibility for patients, family members, caregivers and healthcare professionals as more chronic therapies move from clinics into the home.

Pen-agnostic and platform-ready: Unlike smart-pen solutions tied to a single drug manufacturer or device format, VIVI Cap Smart is designed to work across multiple pen brands and therapy categories while adding temperature protection.

Positions TempraMed for strategic partnerships: The Company believes injectable medication data is increasingly relevant to wearable, digital-health, AI, pharma, medical-device and payer platforms seeking new clinical signals and better patient engagement.

Supports recurring digital-health revenue: VIVI Cap Smart is built around a connected-device and subscription model, creating the potential for software-enabled revenue in addition to hardware sales.

The Missing Signal in Digital Health: Injectable Medication Use

Hundreds of millions of patients worldwide now use injectable medications for diabetes, weight management, autoimmune conditions, fertility, allergies and other chronic or acute conditions1. At the same time, wearable devices and health platforms are becoming central to how patients and healthcare providers monitor health trends, adherence and outcomes.

Despite this momentum, injectable medication behavior remains largely disconnected from the digital-health ecosystem. Wearables may track vital signs and biosensor data, but they generally do not know whether a patient actually used an injectable medication, when the injection occurred, or whether the medication was exposed to damaging temperatures before use.

VIVI Cap Smart was developed to address that gap. The platform is designed to provide a universal injectable-therapy layer that combines:

Temperature protection for in-use medications;

Automatic injection-event capture;

Medication reminders;

App connectivity;

Voice dose recognition and manual dose entry;

Real-time alerts and data analytics; and

Integration potential for remote patient monitoring and health platforms.

"VIVI Cap Smart is about much more than protecting medication from heat and cold, it turns the injectable medication into a connected data point. For patients, that means better reminders, more confidence and better visibility. For caregivers and clinicians, it means access to information that is usually missing. For digital-health platforms, it adds one of the most important clinical signals they do not currently capture: injectable medication use," said Ron Nagar, Chief Executive Officer of TempraMed. "Apple Health, Google Fit and other health platforms are becoming the operating systems of personal health, Our vision is that every injectable medication—whether insulin, GLP-1 therapy, biologic, epinephrine or other critical medication—should be both temperature protected and digitally visible. VIVI Cap Smart is pen agnostic, and designed to make that possible without requiring drug manufacturers, device makers or platforms to build a new solution for each pen or medication format."

VIVI Cap Smart provides a practical way to connect injectable medication behavior to these ecosystems, while also solving the real-world challenge of medication temperature exposure. VIVI Cap Smart is strategically relevant to the next generation of health platforms because it brings a new layer of patient-generated data into the ecosystem.This creates a differentiated opportunity for TempraMed across several partner categories:

Wearable and health platforms, which can add injectable medication behavior to existing health data streams;

Pharmaceutical companies, which can better support patients using insulin, GLP-1 therapies, biologics and other injectables;

Medical-device companies, which can strengthen connected-care offerings around injection therapy;

Payors and health systems, which can support adherence, reduce waste and improve real-world visibility; and

Remote patient monitoring platforms, which can incorporate medication-use signals into care-management workflows.

Making Every Injection Device Connected and Temperature Protected

TempraMed's long-term strategy is to make every injection device connected and temperature protected. VIVI Cap Smart represents a key step in that strategy by combining the Company's patented thermal-shield platform with smart connectivity and health-data integration.

The Company's broader smart platform roadmap includes connected solutions for insulin pens, GLP-1 therapies, epinephrine auto-injectors, vials, biologics and multi-medication storage formats.

Management believes this approach positions TempraMed as a potential enabling technology layer for the rapidly expanding market of injectable therapies, home care, digital health, wearables and AI-driven health platforms.

About TempraMed Technologies Ltd.

TempraMed Technologies Ltd. is a global medical-device company with a portfolio of innovative, temperature-controlled medication-storage solutions. Founded with the mission to safeguard the effectiveness of life-saving medications, TempraMed develops patented, FDA-registered thermal-insulation devices that operate continuously without batteries or external power. Its commercial product portfolio includes VIVI Cap™, VIVI Cap Smart™, VIVI Epi™, and VIVI Med™. TempraMed enables patients and healthcare providers to confidently manage temperature-sensitive medications anywhere, anytime.

Cautionary Statements

THE CANADIAN SECURITIES EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ACCURACY OR ADEQUACY OF THIS RELEASE, NOR HAS OR DOES THE CSE'S REGULATION SERVICES PROVIDER.

This press release contains "forward-looking statements" or "forward-looking information" within the meaning of applicable Canadian securities legislation. Forward-looking statements can be identified by words such as "anticipate," "believe," "expect," "intend," "plan," "may," "will," "should," "strategy," "future," "potential," and similar expressions.

Forward-looking statements in this press release include, without limitation, statements regarding the Company's VIVI Cap Smart platform, its connectivity with Apple Health and Google Fit, the expected benefits of such connectivity, the Company's strategy to integrate injectable medication data into digital-health platforms, future partnerships, recurring digital-health revenue, market adoption, patient engagement, remote patient monitoring opportunities, and the Company's broader connected-product roadmap.

Forward-looking statements are based on current expectations, assumptions and estimates of management as of the date of this press release and are subject to risks and uncertainties that may cause actual results to differ materially from those expressed or implied. Such risks include, among others, changes in customer demand, timing of product development and commercialization, technical integration risks, third-party platform requirements, regulatory developments, data-privacy requirements, market acceptance, competitive factors, availability of financing, supply-chain constraints and general economic and business conditions.

Except as required by applicable securities laws, the Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future developments or otherwise.

1 https://www.marketsandmarkets.com/Market-Reports/injectable-drug-delivery-market-150.html

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/317246

Source: TempraMed Technologies Ltd.

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Apple plans new user controls for apps seeking Full Disk Access on Macs, citing increasingly capable AI agents. Kevin Carter/Getty Images Apple wants to make sure you know exactly what you're signing up for before giving an AI agent access to your Mac.

The company said in a developer blog post on Friday that it plans to introduce additional privacy controls for macOS's "Full Disk Access" setting, which gives apps permission to read sensitive information, including emails, private messages, browsing history, and other personal files.

"Some developers are using Full Disk Access in ways that could put users at risk, exposing everything on their systems — including files, mail, messages, and even browsing history — without users' full knowledge and understanding," Apple said.

"Going forward, we will introduce additional controls to ensure that users who genuinely wish to grant an app this extraordinary level of access can only do so with very explicit user action," Apple added. "As AI agents become increasingly capable and autonomous, the risks associated with this level of access will grow substantially."

For Mac users, that means granting apps a sweeping level of access will require 'very explicit user action,' without explaining how that will differ from the current process. Apple hasn't detailed exactly how the new safeguards will work or when they'll arrive. The company did not say the changes would apply only to AI agents; it said the risks of permission will grow as agents become more capable and autonomous.

According to the blog post, the setting was originally intended to help backup software operate, but increasingly capable AI agents are creating new risks.

Last month, Inc. columnist Jason Aten alleged that Meta's Muse AI agent had accessed private messages on his Mac mini without his permission. Meta disputed the claim.

Andy Stone, Meta's vice president of communication, wrote in a post on X that "the Messages integration in the Muse app for Mac is entirely opt-in."

"You have to enable both Full Disk Access and the Messages connector for Muse to be able to read your Messages content," Stone said. "It can't read your Messages unless you do this. And it can be revoked at any time."

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Katherine Li You're currently following this author! Click to unsubscribe from email alerts.

Katherine Li is a reporter on Business Insider's West Coast business news team. She covers career,  the future of work, and how AI is changing hiring practices and workplace trends.Previously, she was a newsroom fellow who wrote international breaking news and produced newsletters for Semafor. Before that, she wrote about climate policies for The Lever, covered the AAPI community for the SF Chronicle as a freelancer, and wrote about the 2019 Hong Kong protests as an intern for The New York Times.She is an alumna of the Graduate School of Journalism at UC Berkeley and a graduate of the international journalism program at Hong Kong Baptist University with minors in French and English literature.  Email Katherine at [email protected] and follow her on Bluesky @katherineli.bsky.social. 

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Shares of Apple Inc. NASDAQ: AAPL fell 2.66% on Tuesday, Sept. 29, adding to a decline in the prior session, despite having set an intraday all-time high on Tuesday, Sept. 22. A federal jury’s $5.7 billion verdict against Apple on Friday, Sept. 25, added a fresh legal overhang, providing a reminder that even the largest companies can see their stock spooked by a single piece of legal news.

The ruling ordered the tech giant to pay more than $5.7 billion to Taction Technology after finding that Apple’s Taptic Engine infringed claims in two patents covering haptic-feedback technology used in iPhones and Apple Watches. Apple has said it will appeal. A $5.7 billion one-time payment might be material in absolute terms, but Apple has substantial financial capacity to absorb it, having generated nearly $117 billion in operating cash flow during the first nine months of fiscal 2026.

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However, here is where the verdict gets interesting: the real threat isn't the one-time payout. It's the possibility of an ongoing royalty on every affected iPhone and Apple Watch sold going forward. That scenario would put material pressure on hardware margins over time, and it's why some are treating this verdict as more than a legal sideshow.

Why the Royalty Risk Matters More Than the VerdictThankfully for investors, Apple's scale makes the headline figure look worse than the underlying economics. The company can comfortably absorb a multibillion-dollar charge without threatening its balance sheet, buybacks, or ability to invest in new products.

A recurring royalty is different. It would affect the economics of every affected device for years rather than hitting earnings once. The market, therefore, has good reason to focus less on the Sept. 25 award and more on what Apple might ultimately have to agree to pay to keep using the technology.

Apple’s Pricing Power Still Supports the Bull CaseFor now, Apple's pricing power remains the foundation of the broader bullish thesis. The company has consistently raised prices on iPhone Pro models without losing meaningful volume, and it's done so while managing component-cost inflation and maintaining solid gross margins.

Services revenue, which has started to exceed Hardware in some quarters, provides a diversification buffer that didn't exist five years ago. Recent iPhone Pro demand indicators remain healthy, with lead times elevated in several markets—a backdrop consistent with pricing power holding up.

The bulls argue that this cash-generation capacity can absorb the $5.7 billion hit. The real constraint is whether Apple can avoid paying a recurring royalty, and here the appeal front offers a credible path forward.

A federal district court originally granted Apple summary judgment of noninfringement in 2023, but the U.S. Court of Appeals for the Federal Circuit vacated that ruling on Aug. 13, 2025, and sent the case back for further proceedings. A successful appeal or a settlement that avoids a significant ongoing royalty would remove much of the overhang. Under that framework, the verdict creates a window for a settlement that removes longer-term uncertainty without gutting margins.

Valuation Leaves Less Room for Legal SetbacksThe bearish argument continues to rest on valuation and execution risk, but they’ll consider the Sept. 25 verdict to be another string in their bow. When you consider how Apple's valuation continues to look stretched compared to historical levels, there’s not that much room for stumbles like this.

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If hardware margins were to be compressed by new recurring royalty payments, if the current upgrade cycles disappoint, or if component costs rise faster than pricing can offset them, the stock’s valuation could start to contract rather sharply.

Bears will also argue that Apple’s new premium devices may raise average selling prices without generating enough net-new incremental earnings growth to justify the current valuation. A legal headwind only compounds that concern when the stock is already priced at an elevated multiple.

Yet here is the critical detail—the vast majority of analysts remain bullish on Apple, and the MarketBeat consensus rating is still a Moderate Buy, even after the verdict. That consensus suggests Apple's fundamental economics are strong enough to weather this verdict without a material shift in the investment case.

A Legal Scare, Not Yet a Thesis BreakerThat said, the $5.7 billion verdict is a real risk, and the royalty question deserves close monitoring as the appeal proceeds. But Apple's pricing power, broader revenue growth, and fortress balance sheet make this a problem the company has substantial resources to address, whether through appeal, settlement, or through the kind of margin management it has proven adept at executing.

For those who are bullish on Apple over the long term, the verdict might actually be creating a window for an entry point, as it’s almost certainly not a reason to abandon the bullish thesis. That means investors comfortable with Apple’s valuation at current levels might see the recent pullback as a buying opportunity dressed up as a legal scare.

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Royal London Asset Management Ltd. increased its stake in shares of Apple Inc. (NASDAQ:AAPL – Free Report) by 3.6% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 10,335,156 shares of the iPhone maker’s stock after purchasing an additional 355,942 shares during the quarter. Apple accounts for approximately 5.5% of Royal London Asset Management Ltd.’s holdings, making the stock its 2nd biggest position. Royal London Asset Management Ltd. owned approximately 0.07% of Apple worth $2,990,581,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of AAPL. Berkshire Hathaway Inc acquired a new position in shares of Apple during the second quarter worth about $65,950,297,000. Bank of America Corp DE purchased a new position in Apple during the second quarter worth about $36,986,090,000. Legal & General Group Plc acquired a new stake in Apple in the second quarter valued at about $30,443,242,000. Nuveen LLC boosted its holdings in Apple by 3.8% in the 4th quarter. Nuveen LLC now owns 75,000,920 shares of the iPhone maker’s stock valued at $20,389,750,000 after purchasing an additional 2,725,121 shares in the last quarter. Finally, Amundi boosted its holdings in Apple by 23.2% in the 1st quarter. Amundi now owns 73,082,616 shares of the iPhone maker’s stock valued at $18,547,637,000 after purchasing an additional 13,780,080 shares in the last quarter. 67.73% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth Several equities analysts have issued reports on the company. Maxim Group boosted their target price on Apple from $350.00 to $380.00 and gave the stock a “buy” rating in a research report on Friday, July 31st. Barclays restated an “underweight” rating and issued a $245.00 price target (down from $253.00) on shares of Apple in a research note on Friday, July 31st. Weiss Ratings lowered Apple from a “buy (b)” rating to a “buy (b-)” rating in a report on Friday, September 18th. Morgan Stanley reiterated an “overweight” rating and issued a $360.00 price objective on shares of Apple in a research report on Tuesday. Finally, Daiwa Securities Group raised their target price on Apple from $325.00 to $335.00 and gave the company an “outperform” rating in a report on Tuesday, August 11th. One analyst has rated the stock with a Strong Buy rating, twenty-six have given a Buy rating, thirteen have issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $340.14.

View Our Latest Stock Report on AAPL Insiders Place Their Bets In other news, SVP Jennifer Newstead sold 2,399 shares of the firm’s stock in a transaction on Tuesday, September 22nd. The stock was sold at an average price of $340.06, for a total value of $815,803.94. Following the completion of the transaction, the senior vice president owned 44,391 shares in the company, valued at $15,095,603.46. This trade represents a 5.13% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders sold a total of 11,031 shares of company stock valued at $3,535,759 over the last quarter. 0.06% of the stock is currently owned by corporate insiders.

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

Positive Sentiment: Counterpoint Research estimates Apple could sell approximately 6 million iPhone Duo foldable handsets in 2026, despite the device’s premium starting price of $1,999. Pre-orders reportedly begin October 16, with deliveries scheduled for October 23. Apple Predicted To Sell 6 Million iPhone Duo Handsets This Year Positive Sentiment: Early iPhone 18 Pro demand in China is encouraging: first-week sales rose 12% year over year, and Apple captured 33% of smartphone sales during the measured period. Analysts also see consumers showing greater willingness to pay for higher-priced models. Apple iPhone 18 Pro China Launch-Week Sales Rise 12% Positive Sentiment: Reports that Apple will unveil a new smart-home hub at an October 13 event added to expectations for expansion beyond the iPhone. The company is also reportedly renewing its Qualcomm licensing agreement, supporting continuity for its device and connectivity roadmap. Apple Plans Smart-Home Push Positive Sentiment: Broader technology stocks benefited from cooler inflation data, which reduced near-term concerns about additional Federal Reserve rate hikes. Apple also received a favorable endorsement from Jim Cramer ahead of the Duo launch. Neutral Sentiment: New CEO John Ternus is reportedly considering an engineering-focused restructuring, faster product releases and fewer management layers. The changes could improve innovation and execution, but they introduce transition risk and may include layoffs as memory costs rise. Apple’s New CEO Plans Overhaul Negative Sentiment: Bank of America warned that Meta’s Muse and other AI agents could divert product discovery, shopping activity and services revenue away from Apple’s ecosystem, increasing pressure on Siri, Apple Pay and the App Store. Negative Sentiment: Apple patched a zero-day vulnerability reportedly used in targeted attacks involving iPhone crypto wallets. In addition, a UK class-action case over marketplace restrictions was allowed to proceed, creating ongoing legal and reputational risks. Apple Price Performance Shares of NASDAQ:AAPL opened at $333.02 on Thursday. The business’s 50 day simple moving average is $321.97 and its 200-day simple moving average is $299.21. The firm has a market capitalization of $4.86 trillion, a price-to-earnings ratio of 38.19, a price-to-earnings-growth ratio of 2.86 and a beta of 1.08. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.00 and a quick ratio of 0.93. Apple Inc. has a 12 month low of $243.42 and a 12 month high of $345.34.

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

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

Apple Profile (Free Report)

Apple Inc is a technology company that designs, develops and markets consumer electronics, software and digital services. Its best-known products include the iPhone smartphone, Mac personal computers, iPad tablets, Apple Watch, AirPods and other accessories. The company also develops operating systems and software platforms, including iOS, macOS, iPadOS, watchOS and visionOS.

Apple’s services business includes the App Store, Apple Music, Apple TV+, Apple Arcade, Apple News+, Apple Fitness+ and iCloud.

See Also Five stocks we like better than Apple Deutsche Bank Makes a Contrarian Call on Netflix—What Does It Mean for Investors? O’Reilly Automotive’s Stock Slump Hides a Stronger Business McDonald’s Stock Slump Makes Its AI Pricing Bet Even Riskier Broadcom’s AI Growth Story Faces a $161 Billion Anthropic Test Want to see what other hedge funds are holding AAPL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Apple Inc. (NASDAQ:AAPL – Free Report).

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Apple’s (NASDAQ: AAPL) next-generation M6 chip arrived last week with the new Mac mini, but several new M6 MacBooks and a new iPad Pro are expected over the coming months.

In fact, Apple is reportedly planning to launch two new M6 Macs, the M6 MacBook Pro and M6 iMac, most likely in October or early November 2026.

The MacBook Pro update is expected to be limited to the 14-inch base model, and according to reports by Bloomberg earlier this year, the company is not planning Pro or Max versions of the M6 chip. 

In other words, the entry-level MacBook Pro gets M6, while the next high-end chips, i.e., M7 Pro and M7 Max, aren’t expected until 2027.

As the previous fall launch on October 15, 2025, led to a brief Apple stock spike of 4.8% over a ten-day period, it’s not just tech enthusiasts that are keeping an eye on the release schedule.

iMac upgrades will be limited Meanwhile, the iMac isn’t expected to receive major changes beyond the M6 upgrade. Instead, rumors have been circulating that a new selection of colors would be the only other notable update. 

However, moving to the M6 would imply a meaningful performance and efficiency upgrade compared to the current M4 chip.

Interestingly, the rumored touchscreen MacBook Pro, or MacBook Pro Ultra, is not expected to be part of the M6 wave at all. The machine is reportedly coming sooner, using M5 Pro and M5 Max chips instead.

M6 MacBook Air and M6 iPad Pro coming in early 2027 Following this fall’s lineup, the next products expected to receive M6 upgrades are the MacBook Air and iPad Pro.

The new M6 MacBook Air is rumored to arrive in early 2027, potentially sometime between February and April. Based on Apple’s previous launch patterns, the time frame would fit the company’s usual schedule, as M3, M4, and M5 Airs launched in March.

Beyond the M6 chip, however, there aren’t many major changes expected. The MacBook Air should retain the current design, while an OLED display reportedly isn’t coming until at least 2028. That means the screen and overall design could remain largely unchanged for another generation.

As for the iPad, Apple last refreshed the iPad Pro in fall 2025, when it introduced the M5 chip. Rumors now point to a spring 2027 update, which would put the tablet on roughly an 18-month upgrade cycle.

The biggest change, aside from the M6 chip itself, could be the addition of a vapor chamber for improved cooling. This would help the Pro maintain higher performance levels during sustained workloads.

Compared to last year’s MacBook Pro launch, however, this year’s MacBook Air release on March 11 preceded a nearly 5% stock decline.

M6 chips to boost battery health In addition to performance updates, analysts expect M6 could also bring a meaningful battery-life boost to both the MacBook Air and iPad Pro. 

Apple itself maintains that its 2-nanometer manufacturing process delivers “a major leap in performance and power efficiency,” which could translate into longer battery life alongside the performance gains.

Taken together, Apple’s rumored M6 roadmap thus points to new MacBook Pro and iMac models arriving this fall, followed by the MacBook Air and iPad Pro in early 2027, with some models expected to feature notable performance and battery-life upgrades and potentially precede short-term stock volatility.

Featured image via Shutterstock

Lombard Odier Asset Management Europe Ltd acquired a new stake in shares of Apple Inc. (NASDAQ:AAPL – Free Report) during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm acquired 46,997 shares of the iPhone maker’s stock, valued at approximately $13,599,000.

Other large investors also recently modified their holdings of the company. Prospect Hill Management LLC purchased a new stake in Apple during the 2nd quarter valued at approximately $146,370,000. Focus Partners Advisor Solutions LLC purchased a new position in shares of Apple in the second quarter worth $168,646,000. Wealthfront Advisers LLC purchased a new position in shares of Apple in the second quarter worth $482,388,000. Satovsky Asset Management LLC bought a new position in shares of Apple during the second quarter worth $16,064,000. Finally, Saranac Partners Ltd purchased a new position in Apple during the second quarter valued at $9,513,000. Hedge funds and other institutional investors own 67.73% of the company’s stock.

Analyst Ratings Changes A number of analysts have issued reports on the stock. Maxim Group lifted their price target on shares of Apple from $350.00 to $380.00 and gave the company a “buy” rating in a report on Friday, July 31st. Robert W. Baird raised their price objective on Apple from $310.00 to $330.00 and gave the company an “outperform” rating in a research report on Friday, July 24th. Deutsche Bank Aktiengesellschaft cut Apple from a “buy” rating to a “hold” rating in a report on Monday, August 17th. Arete Research boosted their target price on Apple from $305.00 to $335.00 and gave the stock a “buy” rating in a research report on Wednesday, June 24th. Finally, BTIG Research assumed coverage on Apple in a report on Monday, August 17th. They set a “neutral” rating for the company. One analyst has rated the stock with a Strong Buy rating, twenty-six have assigned a Buy rating, thirteen have given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, Apple has a consensus rating of “Moderate Buy” and an average price target of $340.14.

View Our Latest Stock Report on AAPL Insider Buying and Selling In other Apple news, SVP Jennifer Newstead sold 2,399 shares of the business’s stock in a transaction on Tuesday, September 22nd. The shares were sold at an average price of $340.06, for a total transaction of $815,803.94. Following the transaction, the senior vice president owned 44,391 shares in the company, valued at $15,095,603.46. The trade was a 5.13% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders have sold 11,031 shares of company stock worth $3,535,759 over the last ninety days. 0.06% of the stock is owned by insiders.

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

Positive Sentiment: Counterpoint Research estimates Apple could sell approximately 6 million iPhone Duo foldable handsets in 2026, despite the device’s premium starting price of $1,999. Pre-orders reportedly begin October 16, with deliveries scheduled for October 23. Apple Predicted To Sell 6 Million iPhone Duo Handsets This Year Positive Sentiment: Early iPhone 18 Pro demand in China is encouraging: first-week sales rose 12% year over year, and Apple captured 33% of smartphone sales during the measured period. Analysts also see consumers showing greater willingness to pay for higher-priced models. Apple iPhone 18 Pro China Launch-Week Sales Rise 12% Positive Sentiment: Reports that Apple will unveil a new smart-home hub at an October 13 event added to expectations for expansion beyond the iPhone. The company is also reportedly renewing its Qualcomm licensing agreement, supporting continuity for its device and connectivity roadmap. Apple Plans Smart-Home Push Positive Sentiment: Broader technology stocks benefited from cooler inflation data, which reduced near-term concerns about additional Federal Reserve rate hikes. Apple also received a favorable endorsement from Jim Cramer ahead of the Duo launch. Neutral Sentiment: New CEO John Ternus is reportedly considering an engineering-focused restructuring, faster product releases and fewer management layers. The changes could improve innovation and execution, but they introduce transition risk and may include layoffs as memory costs rise. Apple’s New CEO Plans Overhaul Negative Sentiment: Bank of America warned that Meta’s Muse and other AI agents could divert product discovery, shopping activity and services revenue away from Apple’s ecosystem, increasing pressure on Siri, Apple Pay and the App Store. Negative Sentiment: Apple patched a zero-day vulnerability reportedly used in targeted attacks involving iPhone crypto wallets. In addition, a UK class-action case over marketplace restrictions was allowed to proceed, creating ongoing legal and reputational risks. Apple Price Performance NASDAQ:AAPL opened at $333.02 on Thursday. The firm has a market capitalization of $4.86 trillion, a price-to-earnings ratio of 38.19, a PEG ratio of 2.86 and a beta of 1.08. Apple Inc. has a 1 year low of $243.42 and a 1 year high of $345.34. The business has a 50 day simple moving average of $321.97 and a 200-day simple moving average of $299.21. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.00 and a quick ratio of 0.93.

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

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

Apple Company Profile (Free Report)

Apple Inc is a technology company that designs, develops and markets consumer electronics, software and digital services. Its best-known products include the iPhone smartphone, Mac personal computers, iPad tablets, Apple Watch, AirPods and other accessories. The company also develops operating systems and software platforms, including iOS, macOS, iPadOS, watchOS and visionOS.

Apple’s services business includes the App Store, Apple Music, Apple TV+, Apple Arcade, Apple News+, Apple Fitness+ and iCloud.

Further Reading Five stocks we like better than Apple Deutsche Bank Makes a Contrarian Call on Netflix—What Does It Mean for Investors? O’Reilly Automotive’s Stock Slump Hides a Stronger Business McDonald’s Stock Slump Makes Its AI Pricing Bet Even Riskier Broadcom’s AI Growth Story Faces a $161 Billion Anthropic Test Want to see what other hedge funds are holding AAPL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Apple Inc. (NASDAQ:AAPL – Free Report).

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

Apple's priciest iPhone yet carries a sticker shock that would make most buyers flinch, but analysts say millions of customers are lining up anyway. The real question is whether Apple can actually build enough of them to meet demand.

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Anyone worried about sales of Apple’s (NASDAQ: AAPL | AAPL Price Prediction) extremely expensive iPhone Duo can stop worrying. Tech research firm Counterpoint expects to sell 6 million of them this year. Their analysts have one caveat, Bloomberg reports. Can Apple produce enough of these?

The base Duo costs $1,999. However, with additional storage, that number can hit $3,199. The base model drops to $84 with a monthly plan spread over 24 months. It is $42 spread over 48 months when bought from Verizon.

It has been hard to tell how “foldable” phones would do. Samsung has one called the Galaxy Z Fold8. There is no evidence that its sales are extremely high.

Analysts have wondered whether customers would turn to the high-end iPhone 18 Pro or Pro Max, Apple’s advanced models of its traditional smartphones. Few estimates exist for total iPhone 18 sales this year. Wall St research firm Evercore expects many people will upgrade because they want a newer iPhone model.

As in every quarter and every year, investors look to the iPhone as the engine of Apple’s success. And for many years, it has not disappointed. Sales of the iPad, Mac, wearables, and services have not grown enough to help drive Apple’s top line.

In the most recent quarter, iPhone revenue was $54 billion compared to the company total of $100 billion. iPhone revenue was up 22% year over year. By contrast, iPad sales dipped slightly to $6.2 billion

Apple’s stock price suggests investors have faith in iPhone 18 sales. Shares are up 21% this year, while the overall market is 13% higher. Its market cap is $4.8 trillion, putting it in second place behind Nvidia’s  (NASDAQ: NVDA) $5.5 trillion.

Contact [email protected] for any questions or corrections.

Apple (AAPL.O) is planning to make its long-delayed push into the smart-home market on October 13 with a new ​hub code-named J490, Bloomberg News reported on Wednesday, citing people ‌familiar with the matter.

The company also plans to announce the first update to the HomePod mini since the device's 2020 debut and its first new TV set-top box since ​2022, the report said.

Apple did not immediately respond to a ​Reuters request for comment.

Longtime hardware chief John Ternus took over as ⁠Apple's CEO earlier this month, with analysts expecting his tenure to bring renewed ​emphasis on its core strength in devices, engineering and focus on fusing ​AI capabilities into existing products.

Apple has been seeking to expand its presence in the smart-home market while remaining anchored by its core iPhone business, which serves as the ​company's flagship product and a key driver of its broader ecosystem.

The ​company currently offers the HomePod and HomePod mini as part of its smart-home product lineup, while ‌the ⁠Apple TV 4K set-top box is part of its home entertainment lineup.

The upcoming home hub, which is similar to Amazon's Echo and Google Home devices, will take the form of a roughly 6-inch square display, with ​versions that can ​be mounted on ⁠a wall or placed on a countertop, per the Bloomberg News report on Wednesday.

The hub will recognize individual ​household members and provide personalized content and responses ​based on ⁠their data and accounts, the report said.

The new HomePod mini and Apple TV will retain their current designs but include faster processors to support ⁠Siri's more ​powerful AI models, the report said. In June, ​Apple unveiled a long-delayed overhaul of Siri as part of a broader effort to strengthen its ​AI capabilities.

Apple’s new chief executive officer, John Ternus, is weighing a broad overhaul of the iPhone maker aimed at sharpening its engineering focus, introducing products more frequently and creating a leaner organization, Bloomberg News reported Tuesday.

The early ideas under consideration include moving away from Apple’s traditional spring and fall product-release cycle and eliminating some middle-management roles to narrow the gap between engineers and top executives, the report said, citing people familiar with the matter.

Ternus, a 25-year Apple veteran and longtime hardware chief who oversaw multiple generations of the iPhone, succeeded Tim Cook this fall. Analysts said the leadership change underscored the central role of Apple’s hardware ecosystem in the company’s growth.

CEO John Ternus, a 25-year Apple veteran and longtime hardware chief who oversaw multiple generations of the iPhone, succeeded Tim Cook this fall. REUTERS The report said cost-cutting efforts are already under way, while Ternus is also looking for new revenue streams and ways to extract more value from existing products.

Apple did not immediately respond to a Reuters request for comment.

Ternus has signaled internally that Apple needs to introduce products more quickly and become more experimental to remain competitive in the artificial intelligence era, Bloomberg News reported.

Apple typically holds major annual events in June and September, with its developers conference focused on software and its fall launch event centered on new iPhones and other consumer devices.

Earlier this month, Apple entered the foldable smartphone market with its $1,999 Duo iPhone. ZUMAPRESS.com Earlier this month, Apple entered the foldable smartphone market with its $1,999 Duo iPhone. Analysts have said Apple’s entry could help push foldable devices into the mainstream, mirroring its impact on smartwatches and wireless earbuds.

Apple’s hardware engineering division has begun cutting engineering program-management roles, Bloomberg News reported, adding that the reductions affected several program managers, including roughly half a dozen directors.

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The company also made significant cuts in teams working on the Siri digital assistant, the Vision Pro headset and AI-related software engineering, some of which were tied to employee performance, the report said.

Ternus has also explored how AI could speed up product development and automate tasks currently performed by employees, according to the report.

Apple keeps climbing past what analysts expect, yet its consensus target now sits below the current price, and a $63 billion net cash cushion may be forcing the entire valuation conversation to start over.

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Apple (NASDAQ:AAPL | AAPL Price Prediction) at $341 looks compelling, even though the stock already trades above Wall Street’s consensus target. The stock keeps climbing past what analysts expect, and each move suggests the market is starting to pay up for Apple’s cash generation.

Apple sells iPhones, Macs, iPads and wearables, and it also runs a Services business worth about $30 billion a quarter. Its active installed base is above 2.5 billion devices. June quarter revenue rose 16.36% to $109.42 billion. EPS of $2.02 beat the $1.89 consensus, the 9th consecutive earnings beat.

A $63 Billion Net Cash Cushion Keeps Forcing Targets Higher Apple ended the quarter with $147 billion in cash and marketable securities against $84 billion in total debt, which leaves about $63 billion in net cash. Total debt has fallen from $112.38 billion at the end of fiscal 2025. Retained earnings also turned positive at $11.33 billion. The quarter produced $34.4 billion in operating cash flow and returned $33 billion to shareholders. Behind that sits a $100 billion buyback authorization.

Demand is running ahead of supply. Tim Cook said iPhone and Mac were doing “remarkably better than we thought they would do.” Consensus EPS rises from $8.8195 this fiscal year to $9.5815 next year.

Tariff Refunds and Memory Costs Flatter a Premium Multiple Apple trades at 39 times trailing earnings and 35 times forward earnings, with a PEG ratio of 2.706. Tariff refunds added 11 cents to EPS and about two percentage points to gross margin. Management guided September quarter gross margin to 47% to 48%, below last quarter’s 50.1%. Cook called memory pricing “a 100-year flood.”

Estimate revisions are also moving the wrong way. Over the past 30 days, next year’s EPS estimate saw 7 down revisions against 2 up ones.

Holiday Quarter Results Will Test the Premium The December quarter has an EPS estimate of $2.9047. Whether Siri AI lifts upgrades and iCloud subscriptions remains unproven. Cook himself called the cost balance “a bit uncertain.” Patient investors can keep an eye on memory costs and Greater China, which brought in $18.82 billion last quarter.

Apple Has Doubled the S&P 500 This Year and Trades Above Target Apple currently trades at $341.07. The consensus target of $328.22 means about 3.77% downside. Targets are one data point and has no guarantee. 44 analysts rate the stock:

Strong Buy: 6 Buy: 19 Hold: 14 Sell: 3 Strong Sell: 2 Shares are up 25.8% year to date, compared with 13.11% for the S&P 500. Over one year, Apple gained 33.27% while the index gained 17.22%. The stock sits near its 52-week high of $345.34.

Cash Flow Supports Apple’s Premium Above Consensus At $341, Apple’s setup still looks compelling.

Apple has repeatedly climbed past its consensus target, and analysts have repeatedly chased it higher. A net cash position this large, falling debt and double-digit growth give that pattern a fundamental basis rooted in balance sheet strength and cash flow. Analysts who count those advantages as durable will likely lift targets again.

The December quarter is the key catalyst. If revenue tops the $154.39 billion estimate while supply constraints ease, the premium multiple gains support. If gross margin falls below guidance or Services growth slows down sharply, the thesis falls apart.

Apple’s balance sheet gives analysts a reason to keep raising targets, and that makes being above consensus a starting point for further gains.

Contact [email protected] for any questions or corrections.

SummaryApple Inc. is upgraded from Hold to Buy as margin pressures from memory costs are offset by effective price hikes and strategic initiatives.AAPL's ability to pass higher memory and storage costs to consumers—especially via premium iPhone models—demonstrates robust pricing power and margin resilience.Services growth is supported by monetizing AI features through iCloud+ tiers, while new leasing options via Klarna expand affordability and upgrade cycles.Legal risks remain from a $5.7B Taptic Engine verdict and potential royalties, but AAPL's cash flow and pricing flexibility underpin the bullish thesis. Getty Images

On August 12, I downgraded Apple Inc. (AAPL) to Hold because rising memory chip prices were squeezing margins while Services was slowing; that’s the business behind iCloud, the App Store, and Apple Music. It was also the

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Analyst’s Disclosure: I/we have a beneficial long position in the shares of AAPL either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

Gallagher Fiduciary Advisors LLC acquired a new position in Apple Inc. (NASDAQ:AAPL – Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 17,403 shares of the iPhone maker’s stock, valued at approximately $5,036,000. Apple accounts for approximately 0.2% of Gallagher Fiduciary Advisors LLC’s investment portfolio, making the stock its 27th biggest holding.

Other institutional investors and hedge funds have also made changes to their positions in the company. Longfellow Investment Management Co. LLC bought a new position in Apple during the 2nd quarter valued at approximately $30,000. Lifetime Wealth Management P.C. bought a new stake in Apple in the fourth quarter worth $41,000. ABS Investment Management LLC purchased a new stake in shares of Apple in the second quarter worth $376,168,000. Basso Capital Management L.P. bought a new position in shares of Apple during the fourth quarter valued at $88,000. Finally, Bard Associates Inc. purchased a new position in shares of Apple in the 4th quarter worth about $109,000. Institutional investors own 67.73% of the company’s stock.

Wall Street Analysts Forecast Growth AAPL has been the topic of several recent analyst reports. Rothschild & Co Redburn set a $400.00 price objective on shares of Apple and gave the company a “buy” rating in a research report on Monday, August 17th. KeyCorp restated an “underweight” rating on shares of Apple in a research note on Friday, September 4th. Loop Capital set a $380.00 target price on shares of Apple in a report on Friday, September 18th. BTIG Research started coverage on shares of Apple in a research note on Monday, August 17th. They issued a “neutral” rating on the stock. Finally, CICC Research increased their price target on shares of Apple from $310.00 to $340.00 and gave the company an “outperform” rating in a report on Tuesday, August 4th. One research analyst has rated the stock with a Strong Buy rating, twenty-six have issued a Buy rating, thirteen have issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $340.14.

Check Out Our Latest Stock Analysis on Apple Insider Transactions at Apple In other Apple news, SVP Jennifer Newstead sold 2,399 shares of Apple stock in a transaction that occurred on Tuesday, September 22nd. The shares were sold at an average price of $340.06, for a total value of $815,803.94. Following the completion of the sale, the senior vice president owned 44,391 shares of the company’s stock, valued at approximately $15,095,603.46. The trade was a 5.13% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders have sold a total of 11,031 shares of company stock valued at $3,535,759 in the last 90 days. Company insiders own 0.06% of the company’s stock.

Apple Price Performance Shares of NASDAQ:AAPL opened at $341.07 on Monday. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.93 and a current ratio of 1.00. The firm has a market cap of $4.98 trillion, a price-to-earnings ratio of 39.11, a price-to-earnings-growth ratio of 2.96 and a beta of 1.08. The business has a 50-day simple moving average of $321.56 and a two-hundred day simple moving average of $297.64. Apple Inc. has a fifty-two week low of $243.42 and a fifty-two week high of $345.34.

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

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

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

Positive Sentiment: iPhone 18 demand remains encouraging. Long lines in India and strong interest in the iPhone 18 Pro and Pro Max suggest Apple’s premium pricing is holding up in an important growth market. Evercore ISI raised its price target to $380 from $365 while maintaining an outperform rating. Apple iPhone demand in India Positive Sentiment: Momentum and technical positioning remain supportive. AAPL has gained roughly 10% over the past month and is approaching a potential buy point, helping sustain investor interest. Bank of America and JPMorgan have reiterated bullish ratings, while several analysts maintain targets above the current trading range. Apple stock approaches buy point Neutral Sentiment: Apple is expanding its product ecosystem. The company plans a refreshed HomePod mini, while reports suggest it may develop its own AI server chips. These initiatives could support future ecosystem engagement and infrastructure efficiency, but they are not yet material earnings drivers. Apple to release new HomePod mini Negative Sentiment: Rising component costs could pressure margins. Bernstein warned that surging memory and other smartphone component costs may weigh on gross margins and earnings in the December quarter, particularly as Apple introduces more expensive iPhones. Apple’s expensive new iPhones and margins Negative Sentiment: Valuation and AI execution remain key risks. At nearly $5 trillion in market value and about 38–39 times earnings, Apple requires continued earnings growth to justify its valuation. Analysts argue Alphabet’s Gemini ecosystem and monetization progress currently give it an edge in consumer AI, while Meta’s AI devices add competitive pressure. Alphabet versus Apple in consumer AI Negative Sentiment: Legal and product issues add uncertainty. A judge certified a class of payment card issuers in an Apple Pay antitrust lawsuit alleging improper fees. Separately, Apple is preparing a software fix for an iPhone 18 Pro reboot problem. Apple Pay class-action lawsuit Apple Profile (Free Report)

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

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

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

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Trajan Wealth LLC purchased a new position in shares of Apple Inc. (NASDAQ:AAPL – Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 234,496 shares of the iPhone maker’s stock, valued at approximately $67,854,000. Apple accounts for approximately 2.6% of Trajan Wealth LLC’s investment portfolio, making the stock its 9th biggest position.

Other institutional investors also recently bought and sold shares of the company. Longfellow Investment Management Co. LLC purchased a new stake in shares of Apple in the second quarter valued at about $30,000. Lifetime Wealth Management P.C. purchased a new position in Apple during the fourth quarter worth about $41,000. Ascentis Wealth Management LLC lifted its position in Apple by 822.7% in the second quarter. Ascentis Wealth Management LLC now owns 292,493 shares of the iPhone maker’s stock valued at $85,000 after purchasing an additional 260,792 shares during the period. Basso Capital Management L.P. purchased a new stake in shares of Apple in the fourth quarter valued at approximately $88,000. Finally, Bard Associates Inc. purchased a new stake in shares of Apple during the 4th quarter worth $109,000. 67.73% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth Several research analysts have weighed in on AAPL shares. Weiss Ratings lowered shares of Apple from a “buy (b)” rating to a “buy (b-)” rating in a research report on Friday, September 18th. Maxim Group lifted their price target on shares of Apple from $350.00 to $380.00 and gave the company a “buy” rating in a research report on Friday, July 31st. DA Davidson restated a “neutral” rating and issued a $270.00 price target on shares of Apple in a report on Wednesday, September 2nd. DZ Bank downgraded Apple from a “buy” rating to a “hold” rating and set a $310.00 price objective for the company. in a research note on Tuesday, August 4th. Finally, Phillip Securities lifted their price objective on Apple from $290.00 to $300.00 and gave the stock a “neutral” rating in a report on Monday, September 14th. One research analyst has rated the stock with a Strong Buy rating, twenty-six have given a Buy rating, thirteen have issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, Apple currently has an average rating of “Moderate Buy” and an average price target of $340.14.

Check Out Our Latest Research Report on Apple Insider Activity at Apple In other news, SVP Jennifer Newstead sold 2,399 shares of the business’s stock in a transaction that occurred on Tuesday, September 22nd. The shares were sold at an average price of $340.06, for a total value of $815,803.94. Following the completion of the transaction, the senior vice president owned 44,391 shares of the company’s stock, valued at $15,095,603.46. The trade was a 5.13% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders have sold 11,031 shares of company stock worth $3,535,759 in the last ninety days. Insiders own 0.06% of the company’s stock.

Apple Stock Performance Shares of AAPL opened at $341.07 on Friday. Apple Inc. has a 12-month low of $243.42 and a 12-month high of $345.34. The stock has a market cap of $4.98 trillion, a P/E ratio of 39.11, a PEG ratio of 2.96 and a beta of 1.08. The company has a current ratio of 1.00, a quick ratio of 0.93 and a debt-to-equity ratio of 0.66. The company has a 50-day moving average of $321.56 and a two-hundred day moving average of $297.37.

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

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

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

Positive Sentiment: iPhone 18 demand remains encouraging. Long lines in India and strong interest in the iPhone 18 Pro and Pro Max suggest Apple’s premium pricing is holding up in an important growth market. Evercore ISI raised its price target to $380 from $365 while maintaining an outperform rating. Apple iPhone demand in India Positive Sentiment: Momentum and technical positioning remain supportive. AAPL has gained roughly 10% over the past month and is approaching a potential buy point, helping sustain investor interest. Bank of America and JPMorgan have reiterated bullish ratings, while several analysts maintain targets above the current trading range. Apple stock approaches buy point Neutral Sentiment: Apple is expanding its product ecosystem. The company plans a refreshed HomePod mini, while reports suggest it may develop its own AI server chips. These initiatives could support future ecosystem engagement and infrastructure efficiency, but they are not yet material earnings drivers. Apple to release new HomePod mini Negative Sentiment: Rising component costs could pressure margins. Bernstein warned that surging memory and other smartphone component costs may weigh on gross margins and earnings in the December quarter, particularly as Apple introduces more expensive iPhones. Apple’s expensive new iPhones and margins Negative Sentiment: Valuation and AI execution remain key risks. At nearly $5 trillion in market value and about 38–39 times earnings, Apple requires continued earnings growth to justify its valuation. Analysts argue Alphabet’s Gemini ecosystem and monetization progress currently give it an edge in consumer AI, while Meta’s AI devices add competitive pressure. Alphabet versus Apple in consumer AI Negative Sentiment: Legal and product issues add uncertainty. A judge certified a class of payment card issuers in an Apple Pay antitrust lawsuit alleging improper fees. Separately, Apple is preparing a software fix for an iPhone 18 Pro reboot problem. Apple Pay class-action lawsuit About Apple (Free Report)

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

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

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

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