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Americká technologická společnost Apple loni v Irsku na daních zaplatila 17 miliard dolarů (zhruba 350 miliard Kč). To představovalo 40 procent celkové částky, kterou firma odvedla na dani z příjmů po celém světě. Vyplývá to z účetních výkazů podniku, na které dnes upozornil britský list Financial Times (FT). Platbu výrazně zvýšilo rozhodnutí Soudního dvora EU z roku 2024, podle něhož měl Apple doplatit Irsku na daních 13 miliard eur (313 miliard Kč).

Apple podle výkazů loni celosvětově zaplatil na dani z příjmů právnických osob 43 miliard dolarů. Nejnovější údaje byly zveřejněny na základě nových pravidel EU, která velkým firmám ukládají zveřejňovat výnosy, zisky a daně z příjmů v jednotlivých členských zemích a ve vybraných daňových rájích.

Společnost uvedla, že dlouhodobě patří mezi největší daňové poplatníky na světě. Zároveň upozornila na rozdíl mezi daní z příjmů vykazovanou v zemích, kde jsou držena aktiva, a nepřímými daněmi, například DPH, placenými v zemích, kde sídlí zákazníci.

Přibližně čtvrtina globálního zisku před zdaněním, který Apple vykázal za finanční rok do září 2025, byla vykázána prostřednictvím irských společností, ačkoli v Irsku pracují přibližně tři procenta zaměstnanců Applu. Firma tam zaměstnává 5575 lidí a sídlí tam její evropská centrála.

Irsko v minulosti přilákalo řadu velkých amerických společností nízkými daněmi a systémem, který umožňoval přesouvat zisky do daňových rájů prostřednictvím struktury známé jako double Irish (dvojitá irská). K postupnému zrušení tohoto systému Dublin přistoupil v roce 2015.

Irsko podle rozhodnutí soudu EU poskytlo v letech 1991 až 2014 Applu ve formě daňových úlev protiprávní státní podporu, bylo proto povinno si ji od firmy nechat vrátit. Irská vláda hned po rozsudku oznámila, že zahájí proces uvolňování peněz ze svěřenského fondu, na němž byly požadované finance od Applu uloženy.

Řada velkých amerických firem přesto v zemi působí nadále. Irsko nyní uplatňuje sazbu korporátní daně 12,5 procenta a v roce 2024 podle FT tři firmy, za které jsou obecně považovány Eli Lilly, Apple a Microsoft, odvedly téměř polovinu všech korporátních daní vybraných v zemi.

Apple said on Tuesday that it would change its rules for app developers in the European Union, in a bid to end a long antitrust dispute with regulators there over how the company manages its App Store.

Starting in October, Apple will remove several fees for those developers and take a smaller cut than its standard 30 percent from in-app purchases, with rates depending on how apps are distributed and payments are processed. Apple will also allow developers to offer payment methods aside from its own and to distribute apps via the internet, and will permit more companies to create third-party app stores.

The changes follow years of antitrust scrutiny for Apple and the App Store, from the United States to Brazil to South Korea. Regulators have said Apple uses the digital marketplace to crush competition, and developers have complained about the company’s high fees and strict rules. The European Commission, the executive branch of the European Union, has been among the most aggressive enforcers.

“These changes resolve Apple’s disagreements with the Commission over business terms and alternative distribution,” Apple wrote in a blog post. “They also reduce complexity by moving every developer that distributes apps in the EU to a single set of business terms.”

The commission said it welcomed Apple’s changes to the App Store and would monitor how they were carried out.

In 2022, the European Union enacted the Digital Markets Act, a law meant to increase competition in the digital economy. In April last year, the European Commission fined Apple 500 million euros ($570 million at the time), saying the company had violated the law by limiting how developers could communicate with customers about sales and other offers. Regulators also ruled against Apple for restricting access to third-party app stores on its devices.

Apple said on Tuesday that it would also introduce protections for younger users in the European Union.

Users under 18 will need parental approval for in-app purchases that use alternative payment methods or take place on the internet. Users under 13 will not be able to make in-app purchases via the web.

Apple
AAPL -0.15% 96

is facing pressure from the U.S. government over plans to source memory components from Chinese suppliers, adding another complication to the company's efforts to secure chips amid tight global supply.

Commerce Secretary Howard Lutnick said the Trump administration does not support Apple purchasing memory from Chinese manufacturers. He also indicated that the government has urged the company to expand its domestic manufacturing operations.

Apple has been evaluating memory supplied by China-based ChangXin Memory Technologies, or CXMT, for potential use in products including iPhones and MacBooks, according to The Wall Street Journal. The company is not prohibited from purchasing commercially available components from Chinese suppliers, although some transfers of product information require U.S. licensing.

The issue comes as artificial-intelligence demand puts pressure on the broader memory market. Apple's shares closed at $305.26 on Aug. 14 and rose 0.22% during the session. The company had a market capitalization of about $4.46 trillion, while its forward price-to-earnings ratio stood at 34.77.

The administration has also encouraged Apple to shift more manufacturing activity to the U.S., potentially adding supply-chain costs and execution challenges as the company evaluates alternative sources for memory components.

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At $305.93, Apple (NASDAQ:AAPL | AAPL Price Prediction) looks overvalued. The stock rallied hard off winter lows, but fundamentals are quietly weakening in ways the multiple cannot absorb.

Apple remains the most profitable consumer electronics business on the planet, with a $4.46 trillion market cap, a 2.5 billion device installed base, and Services revenue that hit $30.7 billion last quarter. iPhone drives roughly half of revenue, and the ecosystem around it funds one of the largest capital return programs in market history.

Shares climbed from $271.12 at the start of the year to a July high above $340 on a strong June quarter, then faded. That beat was partially manufactured by temporary tailwinds, and the setup into the October earnings report looks materially worse.

Why the Bull Case Still Has Teeth Apple delivered its ninth consecutive EPS beat, posting $2.02 on $109.42 billion in revenue, up 16.4% year over year. iPhone revenue grew 22%, Mac grew 29%, and Tim Cook called it the “strongest June quarter ever, with double-digit revenue growth across iPhone, Mac and Services, and in every geographic segment.”

Capital efficiency is unmatched. ROE sits at 171%, ROIC at 53%, and management authorized a fresh $100 billion buyback. The all-new Siri AI rollout at WWDC26 gives Apple a plausible AI-cycle upgrade catalyst without the 37.5% of revenue capex burden peers are carrying.

Why the Bear Case Is Winning The June headline was propped up by one-time items. CFO Kevan Parekh disclosed that tariff refunds gave gross margin a two percentage point benefit and EPS an 11 cent lift. Strip those out and Apple merely met the midpoint of its own guide. Cook described memory pricing as a “100-year flood… with exponential increases,” and Apple has already reluctantly raised prices on iPad and Mac.

Guidance confirmed deceleration. September revenue is guided to 9% to 11% growth, Services below 10%, and gross margin is projected at 47% to 48%, down from the tariff-inflated June earnings report. Valuation leaves no room: P/E of 35, forward P/E of 32, PEG of 2.5, and a free cash flow yield of 2.21% against risk-free rates. Insider activity shows net selling, and the Q3 earnings report was met with a 7.35% single-day decline despite the beat.

The Case for Sitting Tight Apple still gushes cash, and holders sitting on long-term gains have valid tax reasons to defer. If Siri AI drives a genuine upgrade super-cycle, forward estimates move higher and the multiple looks defensible.

The wait-and-see argument hinges on the October earnings report. If Apple offsets memory inflation without gutting product margin, and if Services reaccelerates above 10%, the bear thesis loses its edge. A repeat of the June reaction, where a 6.8% beat triggered a hard selloff, would validate that expectations have outrun the business.

What the Data Actually Says Apple trades at $305.93, against a consensus analyst target of $322.28, implying modest single-digit upside. Coverage skews positive, with 6 Strong Buy, 22 Buy, 14 Hold, 2 Sell, and 2 Strong Sell ratings across 46 analysts. Shares are up 12.84% year to date, trailing the S&P 500‘s 13.85%, and are down 6.5% over the past month while the index rose 2.85%. Apple is lagging the market it once led.

Prediction markets echo caution. Polymarket traders assign only a 28.5% probability to a new product line before 2027, and 30-day sentiment has fallen 15.7 points.

Why $305 Looks Overextended At $305.93, Apple looks overvalued.

The path to downside runs through the October 29 earnings report. Consensus is anchored to guidance that bakes in tariff refund tailwinds fading, memory costs escalating, and supply constraints Cook warned would “increase significantly” sequentially. If margin compresses harder than the 47% floor management flagged, a stock priced at 32 times forward earnings has nowhere to hide.

The Q3 reaction, a 7.35% same-day decline on a 6.8% beat, showed that at this multiple, beats alone no longer move the stock higher. Average one-day post-earnings performance across the last ten straight beats is -1.16%. Buyers are paying growth-stock prices for a hardware business decelerating into a margin squeeze.

What invalidates the Sell thesis: a clean October beat with expanding product margins, Services reaccelerating above 12%, and tangible Siri AI monetization. Absent those, capital compounds better elsewhere. When a $4.5 trillion company misses the S&P by a mile and trades at 35 times earnings on decelerating revenue, the risk/reward skews unfavorable at this multiple.

Contact [email protected] for any questions or corrections.

Posted by Defense World Staff on Aug 16th, 2026

Asset Dedication LLC trimmed its holdings in Apple Inc. (NASDAQ:AAPL – Free Report) by 25.6% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 71,879 shares of the iPhone maker’s stock after selling 24,681 shares during the quarter. Apple comprises approximately 1.3% of Asset Dedication LLC’s portfolio, making the stock its 10th largest holding. Asset Dedication LLC’s holdings in Apple were worth $18,242,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in AAPL. Rainier Family Wealth Inc. boosted its position in shares of Apple by 14.1% during the 1st quarter. Rainier Family Wealth Inc. now owns 24,386 shares of the iPhone maker’s stock worth $6,189,000 after purchasing an additional 3,014 shares during the period. Eaton Cambridge Inc. raised its position in Apple by 21.3% in the first quarter. Eaton Cambridge Inc. now owns 13,968 shares of the iPhone maker’s stock valued at $3,545,000 after purchasing an additional 2,450 shares during the period. Torren Management LLC purchased a new stake in Apple in the fourth quarter valued at approximately $1,178,000. Summit Wealth Partners LLC boosted its position in shares of Apple by 108.3% during the first quarter. Summit Wealth Partners LLC now owns 34,989 shares of the iPhone maker’s stock worth $8,880,000 after buying an additional 18,188 shares during the period. Finally, Adventist Health System Sunbelt Healthcare Corp purchased a new position in shares of Apple during the fourth quarter worth $105,482,000. 67.73% of the stock is currently owned by institutional investors and hedge funds.

Apple Trading Up 0.2% NASDAQ AAPL opened at $305.93 on Friday. The company has a quick ratio of 0.93, a current ratio of 1.00 and a debt-to-equity ratio of 0.66. Apple Inc. has a 52 week low of $223.78 and a 52 week high of $344.57. The stock has a market capitalization of $4.46 trillion, a PE ratio of 35.08, a price-to-earnings-growth ratio of 2.62 and a beta of 1.09. The firm has a 50 day moving average of $308.98 and a two-hundred day moving average of $285.19.

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. The business had revenue of $109.42 billion for the quarter, compared to analyst estimates of $109.04 billion. Apple had a net margin of 27.62% and a return on equity of 135.46%. The company’s revenue was up 16.4% on a year-over-year basis. During the same period last year, the business earned $1.57 EPS. As a group, research analysts expect that Apple Inc. will post 8.76 EPS for the current fiscal year.

Apple Announces Dividend The firm also recently declared a quarterly dividend, which was paid on Thursday, August 13th. Shareholders of record on Monday, August 10th were issued a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date of this dividend was Monday, August 10th. Apple’s payout ratio is 12.39%.

Insider Activity In other news, insider Ben Borders sold 116 shares of the firm’s stock in a transaction dated Tuesday, June 16th. The stock was sold at an average price of $295.14, for a total transaction of $34,236.24. Following the sale, the insider owned 38,713 shares of the company’s stock, valued at approximately $11,425,754.82. This trade represents a 0.30% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, SVP Jennifer Newstead sold 1,439 shares of the firm’s stock in a transaction dated Tuesday, August 11th. The stock was sold at an average price of $307.75, for a total value of $442,852.25. Following the sale, the senior vice president directly owned 40,107 shares in the company, valued at $12,342,929.25. This trade represents a 3.46% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.06% of the company’s stock.

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

Positive Sentiment: Apple is reportedly training a China-specific large language model with Alibaba’s support. The initiative could bring Apple Intelligence to Chinese users, improve Apple’s competitive position against Huawei and reduce reliance on third-party AI models in a key market. Apple trains China-specific AI model Positive Sentiment: Apple opened an advanced manufacturing center in Houston that will support AI-server production, Mac mini assembly and workforce training. The facility reinforces Apple’s U.S. investment plans and may improve supply-chain resilience and relations with policymakers. Apple opens Houston manufacturing facility Positive Sentiment: Apple reportedly received about $2.2 billion in tariff refunds. The cash recovery could offset some trade-related expenses and support near-term earnings and cash flow. Apple tariff refund report Positive Sentiment: Apple is discussing usage-based content agreements with publishers to improve the upgraded Siri’s access to current information. A stronger Siri could help narrow Apple’s perceived AI gap and support future services growth. Apple publisher talks for Siri Neutral Sentiment: Apple proposed a 15% commission on purchases made through external links in iOS apps amid its continuing legal dispute with Epic. The proposal could preserve some App Store revenue, but the final regulatory and legal outcome remains uncertain. Apple proposes external purchase commission Neutral Sentiment: Apple’s valuation remains demanding, with a market capitalization near $4.5 trillion and a forward earnings outlook that leaves the stock sensitive to execution. An insider sale by SVP Jennifer Newstead was disclosed, though such transactions do not necessarily indicate a change in corporate fundamentals. Apple insider sale Negative Sentiment: Jefferies downgraded Apple, citing concerns about the canceled or delayed all-glass iPhone concept, limited near-term AI momentum and rising memory-chip costs. Higher component prices could pressure margins and make it harder for Apple to justify its premium valuation. Jefferies Apple downgrade and iPhone concerns Negative Sentiment: Google’s Pixel 11 is placing Gemini more deeply into the smartphone experience, raising the competitive stakes for Apple ahead of the iPhone 18 launch and Siri’s broader overhaul. Analysts Set New Price Targets AAPL has been the topic of several research reports. UBS Group reissued a “neutral” rating on shares of Apple in a research note on Friday, July 31st. DZ Bank downgraded Apple from a “buy” rating to a “hold” rating and set a $310.00 target price for the company. in a research report on Tuesday, August 4th. Maxim Group reiterated a “buy” rating and set a $350.00 price target (up from $310.00) on shares of Apple in a research note on Tuesday, June 9th. DA Davidson reissued a “neutral” rating and set a $270.00 price target on shares of Apple in a research report on Friday, July 31st. Finally, Barclays reissued an “underweight” rating and issued a $245.00 price objective (down from $253.00) on shares of Apple in a research note on Friday, July 31st. One equities research analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating, ten have given a Hold rating and four have issued a Sell rating to the company’s stock. According to MarketBeat, Apple currently has a consensus rating of “Moderate Buy” and a consensus price target of $328.60.

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About Apple (Free Report)

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

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

Featured Stories Five stocks we like better than Apple Is Best Buy the AI Winner Hiding in the Electronics Aisle? Applied Materials Beat Everything but Wall Street’s Expectations for Margins Back From Orbit, Intuitive Machines’ Share Price Enters the Buy Zone Texas Roadhouse and Brinker International Have the Recipe Rivals Are Missing 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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After trying and failing to delay the matter, Apple on Thursday submitted its proposal for the commissions it wants to charge on purchases made using external links inside apps on its iOS devices.

In a new filing in the U.S. District Court of Northern California, Apple proposed new commissions of 15% for standard apps, with further discounts for developers who are enrolled in special Apple programs.

Under the proposed structure, small business developers would pay a 5% commission on payments, while those in the Video Partner Program, News Partner Program, and Mini Apps Partner Program would pay 10%. Subscription renewals would also be reduced to 10%, the filing states.

The iPhone maker has been engaged in a years-long legal battle with Epic Games over its alleged anti-competitive policies regarding App Store commissions, and had been attempting to stall its answer to the court’s request for this part of its commission structure.

Apple tried to argue that these lower court proceedings should wait until the Supreme Court ruled on another matter related to the case: whether or not Apple was in contempt of a court order when it imposed a new 27% commission on purchases made through external links, and imposed rules that restricted how developers could present those links to customers.

The Supreme Court on Thursday rejected Apple’s bid to pause further action in the lower court’s case, forcing the company to reveal its planned commission structure.

Apple’s position is that it should be permitted to charge fees on in-app purchases made by users of its devices as a means to recoup its investments in the tools, technology, and services that allow it to maintain its App Store and software.

The company also compared its link-out fees to those on Google Play, which charges 20% link-out rates for standard apps, 15% for apps in special programs, and 10% for subscription renewals, noting that Epic Games had agreed to these rates.

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

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At $305.26, Apple (NASDAQ:AAPL | AAPL Price Prediction) is a Hold. The stock hovers just above its fundamental floor in the $280 to $300 range, with a genuinely balanced setup.

Apple remains the world’s most valuable consumer technology company, with a $4.41 trillion market cap anchored by iPhone, growing Services annuity, and one of the most aggressive buyback machines in the market. After rallying to a 52-week high near $344, shares pulled back to their 50-day moving average of $309.48, with the 200-day at $280.09 sitting exactly where the floor thesis lives.

The June-quarter earnings report showed $109.4 billion in revenue, up 16% year over year was strong. Yet the stock is down 2.96% over the past month.

The Bull Case: A Trillion-Dollar Buyback Sink Under A Software Multiple Bulls argue Apple has quietly become a software-margin business wearing hardware clothing. Services generated $30.7 billion at a 75.6% gross margin, pulling total company gross margin to 50.1%. That is annuity-like economics investors will pay up for.

Apple repurchased $62.09 billion in stock across the first nine months of FY2026, on top of $90.71 billion in FY2025 buybacks. That constant float compression puts an automatic bid under the stock near $280. Layer in Siri AI, which management called an “off the charts” product, and the AI ecosystem thesis gives bulls a multi-year narrative.

The Bear Case: A 34x Multiple Meets Memory Inflation And Supply Shocks The bear case starts with valuation. At 35x trailing P/E and a 32x forward P/E, Apple trades like a hyper-grower while guiding to only 9% to 11% revenue growth next quarter. The PEG of 2.486 and 42x price-to-book leave zero room for a stumble.

Margin risk is quantifiable. Tim Cook described memory pricing as a “100-year flood” with September-quarter memory costs even higher than June’s. Roughly 2 points of Q3 gross margin and $0.11 of EPS came from one-time tariff refunds. Strip that out and the beat looks routine. Supply chain leverage tilting toward vendors, illustrated by the CXMT pricing standoff, means margin expansion is not guaranteed.

The Hold Case: A Floor That Holds, A Ceiling That Grinds Neither side clearly wins at $305. The floor is real: buybacks, Services mix, and installed base of more than 2.5 billion active devices defend the low end. But upside is narrow. Analyst consensus sits at $322.28, implying only modest room to run.

Prediction markets echo the pinning dynamic. Polymarket traders assign a 98.5% combined probability to Apple closing August between $280 and $296, with just 25% odds of clearing $336. The range holds.

What The Data Says Apple trades at $305.26, up 12.59% year to date and 31.31% over the past year. That YTD figure roughly tracks the broader S&P 500, and Apple’s one-year return has outpaced the index.

The $322.28 analyst target implies roughly 6% upside. Of 46 covering analysts, 28 rate the stock Buy or Strong Buy, 14 Hold, and 4 Sell or Strong Sell. Valuation runs rich at 34x trailing earnings and 9.45x sales, while the full-chain put/call ratio of 0.42 shows options traders leaning bullish.

The Verdict: Waiting For The Next Catalyst At $305.26, Apple is a Hold.

The floor thesis is intact. Aggressive buybacks, expanding Services mix, and growing installed base defend the $280 to $300 range. But at 32x forward earnings against 9% to 11% near-term revenue growth, upside requires Siri AI to prove itself as a monetizable catalyst rather than a demo.

Specific triggers to watch: A Buy re-rate would require Siri AI monetization traction through iCloud Plus upgrades, memory costs peaking, and iPhone 18 momentum through the holiday. A Sell decision would come if September gross margin lands below the 47% floor, supply constraints deepen beyond forecast, or Services growth slips below the guided sub-10% cadence.

The cost of patience is a modest 6% opportunity cost to the analyst target. The cost of acting prematurely is chasing a stock priced too highly into a quarter management already flagged as one they will be “scrambling on the supply side” to deliver. Until Siri AI or memory costs break the standoff, standing pat is the sharpest call.

Contact [email protected] for any questions or corrections.

Posted by Defense World Staff on Aug 13th, 2026

Bull Harbor Capital LLC acquired a new position in shares of Apple Inc. (NASDAQ:AAPL – Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 27,746 shares of the iPhone maker’s stock, valued at approximately $7,042,000. Apple comprises 1.9% of Bull Harbor Capital LLC’s investment portfolio, making the stock its 3rd biggest holding.

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

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

Positive Sentiment: Apple is testing DRAM chips from China’s ChangXin Memory Technologies (CXMT) for iPhones and MacBooks and has discussed potential supply arrangements. Diversifying memory suppliers could reduce shortages and limit cost pressure, although geopolitical and quality-control risks remain. Apple’s CXMT Bet Could Strengthen Its Memory Supply, But Risks Remain Positive Sentiment: Apple is reportedly in talks with publishers to license content for an AI-powered Siri. Access to current, high-quality information could improve Siri as Apple prepares a major AI-focused iPhone software update. Apple in Talks to Pay Publishers to Improve AI-Powered Siri Positive Sentiment: Apple’s latest quarter remained strong, with revenue up 16.4% year over year and earnings exceeding consensus estimates. Some investors also view the recent pullback as an accumulation opportunity, while Crake Asset Management reportedly increased its Apple position. Neutral Sentiment: Apple hired former American Airlines executive Nate Gatten to lead government affairs, highlighting the importance of tariffs, regulation and White House relations. The appointment could improve policy execution but also underscores heightened political risk. Apple Hires Former American Airlines Executive to Lead Government Affairs Neutral Sentiment: CEO Tim Cook is expected to hand leadership to John Ternus on September 1, while Apple Pay and Wallet chief Jennifer Bailey plans to retire in October. The transitions create execution uncertainty but may also mark a planned leadership refresh. Negative Sentiment: Jefferies cut its Apple rating and price target, questioning whether the company has sufficient iPhone and AI momentum to justify its premium valuation. The firm also cited supply-chain concerns about a high-end all-glass iPhone and weaker average-selling-price growth. Apple Stock Falls After Jefferies Slashes Price Target Negative Sentiment: Memory shortages driven by AI demand are raising Apple’s bill of materials and could pressure margins or force additional iPhone price increases. Google’s new Pixel 11 lineup also intensifies competition in AI-enabled smartphones. Apple additionally faces a class-action lawsuit alleging that its iCloud+ privacy claims misled consumers. Insider Activity at Apple In related news, insider Ben Borders sold 116 shares of the business’s stock in a transaction on Tuesday, June 16th. The shares were sold at an average price of $295.14, for a total value of $34,236.24. Following the sale, the insider directly owned 38,713 shares of the company’s stock, valued at approximately $11,425,754.82. The trade was a 0.30% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 0.06% of the stock is currently owned by insiders.

Analyst Ratings Changes AAPL has been the topic of several recent research reports. Weiss Ratings upgraded Apple from a “buy (b-)” rating to a “buy (b)” rating in a research report on Monday, August 3rd. KeyCorp reiterated an “underweight” rating and issued a $250.00 price objective on shares of Apple in a report on Tuesday, July 28th. Sanford C. Bernstein reissued an “outperform” rating on shares of Apple in a research note on Monday, June 8th. The Goldman Sachs Group reissued a “buy” rating and issued a $360.00 target price (down from $370.00) on shares of Apple in a research note on Friday, July 31st. Finally, BNP Paribas Exane upgraded Apple from a “neutral” rating to an “outperform” rating and set a $300.00 target price on the stock in a report on Friday, April 17th. One investment analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating, ten have given a Hold rating and four have assigned a Sell rating to the stock. According to MarketBeat, Apple has an average rating of “Moderate Buy” and a consensus price target of $328.60.

Read Our Latest Analysis on Apple

Apple Price Performance NASDAQ AAPL opened at $302.25 on Thursday. The business has a 50 day simple moving average of $309.12 and a 200 day simple moving average of $284.64. Apple Inc. has a 52-week low of $223.78 and a 52-week high of $344.57. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.93 and a current ratio of 1.00. The stock has a market cap of $4.41 trillion, a price-to-earnings ratio of 34.66, a PEG ratio of 2.61 and a beta of 1.09.

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 for the quarter, beating analysts’ consensus estimates of $1.89 by $0.13. The firm had revenue of $109.42 billion for the quarter, compared to analyst estimates of $109.04 billion. Apple had a net margin of 27.62% and a return on equity of 135.46%. The business’s revenue was up 16.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.57 earnings per share. Analysts anticipate that Apple Inc. will post 8.76 earnings per share for the current fiscal year.

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

Apple Profile (Free Report)

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

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

Further Reading Five stocks we like better than Apple GE Vernova’s AI Power Boom Faces a Profit Test Cardinal Health Earnings: Can Perfection Get Priced In Twice? Nebius’ Q2 Beat Shows the AI Bottleneck Is Capacity, Not Demand Legacy Jet Builders Stall While Embraer Accelerates to New Highs 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 Inc. (NASDAQ:AAPL), Samsung Electronics Co. Ltd. (OTC:SSNLF) and other major smartphone makers face a tougher demand environment as rising component costs push handset prices higher in the U.S. and China, according to new research from Counterpoint Research.

Counterpoint analysts said Thursday that smartphone demand weakened across both major markets, with cost inflation emerging as a key pressure point. Rising memory costs are forcing manufacturers to increase prices while consumers remain sensitive to higher costs.

U.S. Smartphone Sales Fall 5%U.S. smartphone sales fell 5% year over year in the second quarter as higher memory prices and broader macroeconomic pressures hurt consumer demand, Counterpoint analyst Blake Przesmicki said.

Sales across the four largest manufacturers — Apple, Samsung, Motorola and Alphabet Inc.’s (NASDAQ:GOOGL) Google — declined 4%. The rest of the market plunged 45% as smaller manufacturers struggled with higher component costs. Counterpoint said larger companies have used their scale to secure components at prices smaller rivals cannot justify.

The pressure was particularly severe at the low end. Sales of smartphones priced below $100 tumbled 64% as manufacturers either stopped shipping some devices or raised prices to offset higher memory costs.

Prepaid smartphone sales fell 11%, although Samsung and Motorola gained share as weaker competitors pulled back. Motorola raised prices on several Moto G models during the quarter, while Samsung increased the Galaxy A17 price by $50 in July.

Counterpoint expects smartphone average selling prices to rise again in the third quarter. Apple is expected to increase prices for its iPhone 18 lineup, while Google is launching its Pixel 11 devices at higher prices than the Pixel 10 series carried at launch.

Still, Counterpoint expects Apple to benefit from a strong upgrade cycle as users move from the iPhone 15 series. Carrier subsidies will play a major role in determining whether higher prices hurt demand.

China Smartphone Slump DeepensThe picture is also challenging in China. Smartphone sales fell 8.6% year over year during the first 30 weeks of 2026, according to Counterpoint analyst Ivan Lam. The decline returned to double digits after the 618 shopping festival as seasonal weakness combined with continued memory-cost inflation.

Huawei remained the market leader, with its weekly sales share staying above 20% since the second quarter. Demand for the Enjoy 90 Pro Max and stable pricing supported its performance. Counterpoint expects Huawei to raise prices during the second half to offset higher costs.

Apple’s demand weakened significantly after the 618 festival. Its weekly sales ranking fell as low as fifth as the company entered its typical seasonal slowdown ahead of its next iPhone launch. Counterpoint said some demand had also been pulled forward by the shopping festival.

Xiaomi Corp. (OTC:XIACY) climbed to second place in week 30 following the launch of the REDMI Note 17 series. However, higher pricing and specification cuts hurt sales compared with the previous generation. Xiaomi subsequently introduced another round of price increases ranging from 300 Chinese yuan to 500 Chinese yuan across several product lines.

Memory Inflation Threatens More Price HikesCounterpoint expects conditions to become tougher during the second half as rising memory and system-on-chip costs force smartphone manufacturers toward additional price increases.

At the same time, spending on agentic artificial intelligence is becoming a competitive necessity rather than a differentiator, adding another challenge for manufacturers already dealing with weaker demand and higher hardware costs. Counterpoint warned that companies unable to keep pace risk falling further behind.

AAPL Price Action: Apple shares were up 0.31% at $303.25 during premarket trading on Thursday, according to Benzinga Pro data.

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A California man is suing Apple in a proposed class-action lawsuit for allegedly misleading consumers about the privacy benefits of iCloud’s paid subscription tier – saying it falsely claimed that users’ IP addresses would be hidden.

Edward Rickman said he purchased iCloud+ for access to iCloud Private Relay, a feature that Apple promises will “Hide your IP address and browsing activity in Safari and protect your unencrypted internet traffic,” according to a suit filed last week in California federal court.

Apple charges customers between $0.99 to $59.99 a month for the premium iCloud subscription, depending on how much storage they wanted, according to its website.

A California man is suing Apple in a proposed class-action lawsuit for misleading consumers about the privacy benefits of iCloud’s paid subscription tier. Rafael Henrique – stock.adobe.com But three flaws in Apple’s WebKit, which powers the Safari browser, allowed websites to access users’ real IP addresses even when the premium feature was switched on, the lawsuit alleged. 

“Apple built its entire brand on the promise that it would protect its users’ privacy when no other company would,” Tim Giordano, a partner at Clarkson Law Firm, which is leading the litigation, told The Post.

“For Apple’s iCloud users to now learn that for years they were paying Apple a premium for a protection that simply didn’t work, exposing them to the very tracking, profiling, and targeting Apple warned them about, is an outrageous violation and betrayal of consumer trust and law.”

Earlier this year, Clarkson Law Firm secured a $250 million settlement from Apple over claims it misled consumers on Siri’s AI features.

The lawsuit is seeking an injunction on Apple’s alleged false marketing, along with attorneys’ fees and relief of at least $5 million for all members of the class. That includes all US citizens who paid for iCloud+ and enabled Private Relay within a certain time frame.

Apple first unveiled iCloud Private Relay at its annual Worldwide Developers Conference in June 2021, releasing it later that year as part of an iOS update.

Flaws in Apple’s WebKit allowed websites to access users’ real IP addresses even when the premium feature was switched on, the lawsuit alleged.  Apple During that presentation, Apple claimed that Private Relay “ensures that the traffic leaving your device is encrypted so that no one can intercept and read it” and that “no one, including Apple, can see both who you are and what sites you’re visiting,” according to a recording.

“But in reality, Apple’s promise that Private Relay’s dual-relay design made it structurally impossible for any single party to see both a user identity and the destination of their traffic has never been true,” the lawsuit alleged.

Apple’s own operating system uses passkeys – a Touch ID or Face ID scan that replaces typed passwords – and these are never routed through the relay that Apple designed to prevent IP addresses from accessing private information, according to the suit.

Two recent Apple iOS updates in 2025 and 2026 also bypassed Private Relay, exposing the user’s IP address, the suit said.

The lawsuit is seeking an injunction on Apple’s alleged false marketing. Apple “Year after year, Plaintiff and Class Members paid subscription fees for iCloud+ in reliance on Apple’s representations that Private Relay would hide their IP addresses and browsing activity in Safari,” the complaint said.

“But instead, Apple delivered a system that recreates through its own credential service that precise harm Apple told the world it had made impossible.”

In a post on Reddit, which was cited in the lawsuit, one frustrated consumer wrote, “Don’t trust corporate when it comes to your privacy. The champion of privacy is just an empty brand.”

More than just boasting about the capabilities of its Private Relay feature, Apple also spent years positioning itself as a leading consumer tech firm for privacy compared to its rivals, the lawsuit alleged.

Apple first unveiled iCloud Private Relay at its annual Worldwide Developers Conference in June 2021. REUTERS In late 2020, Apple introduced App Tracking Transparency, a privacy feature that required apps like Facebook to ask for explicit permission before tracking users’ activity across other sites, the lawsuit noted.

Facebook responded by launching full-page ads in newspapers arguing that the new tracking rules were “about profit, not privacy” and would ultimately harm small businesses.

Apple CEO Tim Cook defended the update against Facebook’s arguments in a post on X, writing, “We believe users should have the choice over the data that is being collected about them and how it’s used.”

In the summer of 2022, Cook spoke at a global privacy summit and invoked late privacy scholar Alan Westin, saying “while the erosion of privacy was a legitimate fear, it was not an inevitable consequence of technology,” according to the lawsuit.

As of publishing, Apple’s website states: “Privacy. That’s Apple.”

“Privacy is a fundamental human right. It’s also one of our core values. Which is why we design our products and services to protect it. That’s the kind of innovation we believe in,” the company said.

Apple did not immediately respond to The Post’s request for comment.

HomeEarnings AnalysisTech 

SummaryApple Inc. delivered record June quarter results, but margin erosion and a cautious outlook prompted a downgrade from Strong Buy to Hold.AAPL's gross margin, excluding tariff refunds, is declining sharply—projected to fall nearly 3 percentage points in six months as memory costs surge.Supply constraints and rising component prices are set to pressure AAPL's September quarter results, with revenue growth guided below Street expectations.China revenue has rebounded to record levels even before Apple Intelligence launches, but near-term margin and supply headwinds outweigh this positive. Getty Images

Apple Inc. (AAPL) has just posted the best June quarter in the company’s history, with records nearly everywhere you looked and growth in every part of the world where it sells. And yet, the market thanked it with

4.52K Followers

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.

Apple (NASDAQ:AAPL | AAPL Price Prediction) has already pushed iPhone prices higher by as much as $300 in response to what CEO Tim Cook described as a “100-year flood” in memory prices. According to a new TrendForce smartphone industry report published August 10, 2026, that squeeze is only beginning.

The Memory Math Is Getting Ugly TrendForce estimates memory’s share of the iPhone Pro bill of materials has climbed from roughly 10% a year ago on the iPhone 17 Pro to about 34% in Q3 2026, and is expected to exceed 40% in the first half of 2027. For the iPhone 18 Pro 256GB, TrendForce estimates the BOM cost will rise about 38% year over year. Contract memory prices have risen five to sevenfold since the start of 2025.

TrendForce’s conclusion: “escalating component costs, led by memory, are expected to significantly raise production expenses for Apple’s next iPhone 18 series… making higher retail prices unavoidable. Apple may offset some of these costs by reducing gross margins to prevent weakening consumer demand.”

How Exposed Is Apple? Every meaningful Apple product contains memory, and iPhone alone generated $54.25 billion in the June quarter, part of $109.42 billion in total revenue. Cook flagged the pressure on the March-quarter call: “For the June quarter, we expect significantly higher memory costs… beyond the June quarter, we believe memory costs will drive an increasing impact on our business.” June-quarter gross margin guidance was set at 47.5% to 48.5%. Jefferies downgraded Apple to Underperform with a $263.66 target, citing “rising memory costs and the cancellation of an ‘all-glass iPhone’ that would have helped increase average selling prices.” Apple shares trade at $306.32, up 13.7% year to date.

Who Benefits, Who Bleeds Memory suppliers are printing money. Micron Technology (NASDAQ:MU) posted fiscal Q3 revenue of $41.456 billion, up 345.7% year over year, with GAAP gross margin of 84.6%. CFO Mark Murphy said Q2 DRAM prices rose in the mid-sixties percentage range and NAND prices in the high-seventies percentage range. CEO Sanjay Mehrotra warned Micron is only fulfilling “50% to two-thirds” of key customer demand. Shares are up 201.86% year to date. South Korea’s SK Hynix, the other major DRAM supplier to Apple, is capturing similar gains.

The pain sits with chip vendors whose volumes depend on smartphone units. Qualcomm (NASDAQ:QCOM) saw handset revenue drop to $5.086 billion, down 20% year over year, with operating income falling 41.13%. CEO Cristiano Amon acknowledged a “challenging memory and supply environment” and said Qualcomm is taking pricing actions to reflect higher input costs. Shares are down 4.21% year to date.

The Contrarian Long-Term Case Apple can absorb the hit by trimming gross margins where rivals cannot. Android vendors in entry-level and mid-range tiers face a harsher squeeze, and TrendForce expects global smartphone production to stay under pressure. If weaker competitors are forced into steeper hikes or discontinue lines running at negative gross margins, Apple could gain share. If memory pricing normalizes, the $300 already baked into iPhone shelf prices becomes pure margin recovery.

Contact [email protected] for any questions or corrections.

Apple AAPL shares declined about 2% on Monday after Jefferies downgraded the stock, citing concerns that the company's rumored all-glass iPhone project has been scrapped, raising fresh questions about its ability to drive higher-priced device sales amid rising component costs.

Jefferies analyst Edison Lee lowered his rating on Apple to Underperform from Hold and reduced his price target to $263.66 from $285.56, making it one of the lowest targets on Wall Street.

The downgrade comes despite Apple stock gaining more than 15% so far in 2026, although momentum weakened after the company's latest quarterly earnings report triggered a sharp selloff.

Lee based his downgrade on the belief that Apple has halted development of its rumored all-glass iPhone after supply chain checks suggested the project was canceled because of low manufacturing yields.

Although Apple never officially confirmed the product, reports had suggested the device could debut in 2027 to mark the iPhone's 20th anniversary. Apple also filed a patent application for a "six-sided glass enclosure" in 2019.

Lee said the cancellation could limit Apple's ability to increase average selling prices at a time when memory costs are climbing.

“More importantly, we believe the plan was to extend the all-glass features to future iPhone Pro and Pro Max models, further raising their average selling price and margin,” Lee wrote.

The analyst also expressed caution over Apple's artificial intelligence strategy, noting that the slower rollout of Apple Intelligence makes it more difficult to justify the higher memory requirements needed for on-device AI features.

Despite the downgrade, Apple continues to develop new hardware products ahead of John Ternus officially taking over as chief executive next month.

According to a Bloomberg report, the company is working on a screenless fitness band similar to the Whoop device while also evaluating products with different display formats, including round screens and devices without displays.

The company's first foldable iPhone is also expected to launch in September, representing the most significant iPhone hardware redesign in nearly two decades.

Apple recently issued a weaker-than-expected outlook despite reporting solid fiscal third-quarter results.

The company has also faced higher memory costs and increased prices for Macs, iPads and Apple Watches while keeping iPhone pricing unchanged.

Apple is also expanding its strategy in China through both hardware sourcing and artificial intelligence partnerships.

According to a Wall Street Journal report, the company has been testing memory chips from Chinese manufacturer CXMT for products including iPhones and MacBooks sold in China as it seeks to address component shortages linked to AI-driven demand.

CXMT is not currently listed on the US Commerce Department's Entity List, although it remains subject to other US restrictions.

Separately, Apple has introduced support allowing eligible Mac users in mainland China to connect Alibaba's Qwen AI models with Siri and Writing Tools.

The move follows Apple's partnership with Alibaba announced last year and is aimed at strengthening its position in China's growing AI PC market.

Posted by Defense World Staff on Aug 9th, 2026

Ascension Capital Advisors Inc. lifted its position in Apple Inc. (NASDAQ:AAPL – Free Report) by 49.0% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,694 shares of the iPhone maker’s stock after acquiring an additional 3,517 shares during the period. Apple accounts for 0.9% of Ascension Capital Advisors Inc.’s holdings, making the stock its 17th largest position. Ascension Capital Advisors Inc.’s holdings in Apple were worth $2,714,000 at the end of the most recent quarter.

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

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

Analyst Ratings Changes A number of analysts have commented on the stock. Oppenheimer reiterated a “market perform” rating on shares of Apple in a report on Friday, July 31st. Weiss Ratings upgraded Apple from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday, August 3rd. The Goldman Sachs Group restated a “buy” rating and issued a $360.00 price target (down from $370.00) on shares of Apple in a research report on Friday, July 31st. BNP Paribas Exane raised Apple from a “neutral” rating to an “outperform” rating and set a $300.00 price target for the company in a report on Friday, April 17th. Finally, Rosenblatt Securities lifted their price objective on Apple from $276.00 to $300.00 and gave the stock a “neutral” rating in a research report on Friday, July 31st. One analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, eleven have issued a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $330.44.

Read Our Latest Research Report on AAPL

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

Positive Sentiment: Planned CEO transition appears orderly. Tim Cook will step down in September and be succeeded by longtime Apple executive John Ternus, a veteran with experience dating back to the Steve Jobs era. Cook’s endorsement and Ternus’ familiarity with Apple’s products may reduce concerns about strategic disruption. Tim Cook Says There’s ‘No Better Person’ to Take Over at Apple Positive Sentiment: Core business momentum remains strong. Apple’s latest quarter exceeded earnings and revenue expectations, with revenue up roughly 16% year over year. Broad iPhone, Mac and Services demand continues to support the bullish case. Tim Cook’s Last Quarter as CEO Was Apple’s Best June Quarter Ever Positive Sentiment: App Store monetization is holding up. App Store revenue increased slightly despite a 4% decline in iPhone and iPad downloads, as revenue per download rose 4.7%. This suggests continued pricing and engagement resilience in a key Services business. Apple App Store Revenue Ticks Up Despite Falling Downloads Neutral Sentiment: OpenAI is seeking dismissal of Apple’s trade-secrets lawsuit. OpenAI denies misappropriating confidential information related to Apple’s consumer-hardware efforts. The filing does not resolve the dispute, leaving legal and competitive uncertainty in place. OpenAI Seeks Dismissal of Apple’s Trade Secrets Lawsuit Negative Sentiment: Near-term cost and growth pressures are weighing on sentiment. Rising memory prices, supply constraints and policy risks could pressure margins, while slower Services growth has prompted some firms to downgrade Apple to Hold or Moderate Sell. Apple’s Capex Strategy Worked But Other Pressures Are Mounting Negative Sentiment: Competition in emerging hardware is increasing. Samsung reported a 30% rise in foldable-device preorders, highlighting a market Apple has yet to enter. Investors may view future Apple foldables as an opportunity, but execution and timing remain uncertain. Samsung Foldable Preorders Jump 30% Apple Stock Up 0.3% Shares of NASDAQ AAPL opened at $313.33 on Friday. The company has a 50 day simple moving average of $309.45 and a 200-day simple moving average of $283.23. The company has a market capitalization of $4.57 trillion, a P/E ratio of 35.93, a P/E/G ratio of 2.69 and a beta of 1.09. 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 1 year low of $219.25 and a 1 year high of $344.57.

Apple (NASDAQ:AAPL – Get Free Report) last released its quarterly earnings data on Thursday, July 30th. The iPhone maker reported $2.02 EPS for the quarter, beating analysts’ consensus estimates of $1.89 by $0.13. Apple had a return on equity of 135.46% and a net margin of 27.62%.The firm had revenue of $109.42 billion for the quarter, compared to analysts’ expectations of $109.04 billion. During the same period in the prior year, the firm posted $1.57 earnings per share. The firm’s quarterly revenue was up 16.4% on a year-over-year basis. On average, equities research analysts predict that Apple Inc. will post 8.76 earnings per share for the current year.

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

Apple Profile (Free Report)

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

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

Read More Five stocks we like better than Apple Quantum Earnings Week: Winners and Losers Are Finally Emerging Axon’s Post-Earnings Pullback May Be More About Valuation Than Growth Uber Stock Lags in 2026, But Cash Flow and AV Bets Fuel Upside AppLovin Stock Hits 52-Week Low as Analysts Trim Targets, Stay Bullish 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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iPhone-maker Apple is suing OpenAI over allegations of stolen trade secrets. A legal battle between Apple and OpenAI over the ChatGPT maker's secretive device project escalated this week when the artificial intelligence (AI) developer called the iPhone maker's allegations "baseless" and asked for the lawsuit to be dismissed.

Apple sued OpenAI last month in San Jose, California, accusing the AI company of orchestrating a campaign to steal the iPhone maker's trade secrets through former employees as it tries to develop its own consumer hardware device.

In a new court document filed Monday, Apple described OpenAI's actions as "repeated instances of deliberate theft."

"OpenAI should not be permitted to use Apple's secrets to gain an unjust head start in its hardware ambitions," the iPhone maker says.

OpenAI hit back Wednesday and called for the case to be permanently dismissed, which would bar Apple from filing another lawsuit on the same grounds.

"Apple built its reputation by paying close attention to the smallest details. This lawsuit does the opposite," OpenAI's lawyers say in their filing, which continues to describe Apple's complaint as "rotten to its core."

Federal Judge Edward Davila will consider both requests at a hearing Oct. 1.

Partners and rivals Meanwhile, the two companies remain partners, since ChatGPT has been integrated into Apple products since 2024.

"Apple should not be permitted to use a baseless and pretextual lawsuit to make up for its shortcomings in the market for talent and in retaining its employees, and its failures to integrate AI into its products," OpenAI's lawyers say.

They invoke California laws that "encourage" employees to take new jobs—policies that are "credited with powering the tech revolution that has made companies based in this state the envy of the world."

More than 400 former Apple employees currently work at OpenAI, according to the initial complaint.

"The harm is happening now," Apple's lawyers say, and "every day that passes without an injunction allows OpenAI to embed their knowledge of Apple's stolen information into its hardware development efforts."

Smart speaker To convince the judge of the urgency, Apple's lawyers submitted a TechCrunch article describing leaked details about OpenAI's highly anticipated first device: a screenless smart speaker designed in collaboration with LoveFrom, a studio founded by Jony Ive, Apple's famed former head of design.

On Thursday, Bloomberg reported that the device would be circular like a donut, about the size of a hockey puck, and cost between $300 and $400, with a launch planned for 2027.

OpenAI has never confirmed these leaks.

"OpenAI has no use, need or desire for Apple's trade secrets," the creator of ChatGPT says in a court document, which continues that Apple hasn't named any specific products, such as an iPhone, that have allegedly been copied. "OpenAI is building something entirely new and different."

Apple, for its part, accuses OpenAI's head of hardware, Tang Tan, a former vice president of design at Apple, of using his knowledge of unreleased Apple products to extract information from job candidates.

OpenAI asked candidates to bring "prototypes" and design files to interviews for "show and tell" sessions—an American classroom exercise in which students present objects to their classmates—Apple alleges.

In its response, OpenAI says it follows standard industry practices.

According to his lawyers, Tan "repeatedly instructed recruits and his team not to bring or disclose former employers' confidential information."

OpenAI also defends itself by accusing Apple of failing to properly protect its own data, claiming that the Cupertino company has "encouraged employees to use personal iCloud accounts for work, intermingling company and personal data, while failing to manage access cleanly across multiple Apple systems when employees departed."

The case comes at a sensitive time for OpenAI, which is worth a reported $852 billion as it works toward a potential IPO. The lab is also locked in fierce competition with Anthropic, a rival AI lab in San Francisco founded by a group of former OpenAI employees.

Who's behind this story?

Alexander Pol PhD nano-engineering from Delft University. Published researcher and journal reviewer. Brings scientific insight to content standards. Full profile →

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Apple Inc (NASDAQ:AAPL, XETRA:APC) App Store revenue rose 0.6% year-over-year in the first 35 days of its fiscal fourth quarter to $3.4 billion, up from $3.38 billion in the same period last year, according to a note from Bank of America.

Total downloads across iPhone and iPad fell 4% year-over-year to 3.3 billion over the same stretch, while App Store dollars per download climbed 4.7% to $1.02, BofA said, citing data from SensorTower.

In July, App Store revenue grew 1.2% year-over-year globally, while downloads fell 3.9%, marking the first negative growth since April 2024. China revenue grew 8.7% year-over-year, continuing a trend of healthy growth over the past five months, while downloads there declined 6.8%.

BofA reiterated a Buy rating on Apple, citing strong capital returns, potential leadership in AI at the edge, and optionality from new products and markets. The bank's price objective stands at $380.

Analysts continue to view Services as a durable growth driver, pointing to Apple's Siri AI architecture, Apple silicon, and the Apple Upgrade Program as factors that should support the company's product-cycle flywheel and future hardware-led and AI-enabled monetization. The bank models Services revenue growth of 10% year-over-year for the fiscal fourth quarter.

On AI apps, BofA noted that search-oriented AI apps continue gaining daily active user share against the Google Search app, excluding Safari and Siri. ChatGPT's monthly revenue exceeded $275 million in July, while Claude's revenue is rapidly catching up at roughly $65 million.

Within gaming, BofA said Games revenue share declined year-over-year to 42% of total App Store revenue in the fiscal fourth quarter to date. Publisher performance year-to-date was mixed: Tencent retained the top spot on the App Store compared with a year earlier, with revenue and downloads up 4% and 16% year-over-year, respectively, while NetEase and Dream Games both saw revenue and downloads decline year-over-year.

Despite reporting record earnings per share and beating Wall Street estimates, Apple (AAPL +1.93%) stock fell hard after reporting its fiscal third-quarter 2026 results on July 30. Apple shares fell as much as 10% in the sell-off. So what triggered the investor negativity, and is this an opportunity or a red flag warning?

First, services revenue fell short of analysts' expectations at $30.7 billion. Secondly, and perhaps most concerning, management made it clear that there are serious constraints tied to DRAM and NAND memory. There is a shortage in the memory market, and that is causing the available supply to skyrocket in price.

This, in turn, means Apple will either have to absorb the additional costs and cut into its own margins or pass them on to consumers who are already constrained in their discretionary spending.

Analysts expected 12% revenue growth for the upcoming fourth quarter, but Apple's guidance is between 9% and 11%. This is largely what caused the big drop in stock price. So what should investors do now?

Image source: The Motley Fool.

Even with the significant price decline, Apple is still trading at a premium. For long-term investors, Apple's outlook is not exactly alarming. The memory shortage is affecting technology companies across the board, so it's not just an Apple-specific problem. Apple also has a very healthy business overall. Demand for the company's products remains strong and is likely to continue for the foreseeable future, even after CEO Tim Cook's departure this year.

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I'm bullish on Apple because it's taking a more conservative approach to artificial intelligence spending than its peers. The company's revenue still grew 16% year over year, and aside from the memory shortage, there isn't much slowing Apple down right now. It remains a great dividend-paying company.

Catie Hogan has positions in Apple. The Motley Fool has positions in and recommends Apple. The Motley Fool has a disclosure policy.

Item 1 of 2 View of an Apple logo at an Apple store in Paris, France, April 23, 2025. REUTERS/Abdul Saboor/File Photo

[1/2]View of an Apple logo at an Apple store in Paris, France, April 23, 2025. REUTERS/Abdul Saboor/File Photo Purchase Licensing Rights, opens new tab

CompaniesAug 3 (Reuters) - Apple on Monday asked a U.S. judge for a preliminary injunction barring two former employees ​and OpenAI from accessing, acquiring, using or disclosing alleged confidential information as ‌it moves ahead with its trade secrets case.

Apple last month sued OpenAI and the two former employees, both now working for OpenAI, alleging misappropriation of its trade secrets to benefit the ChatGPT-owner's ​foray into consumer hardware, a dramatic escalation of already simmering tension between ​the two companies.

Jumpstart your morning with the latest legal news delivered straight to your inbox from The Daily Docket newsletter. Sign up here.

The iPhone maker also filed a concurrent motion on Monday ⁠seeking expedited discovery, including production of documents relating to the defendants' alleged access ​of Apple's proprietary and trade secret information.

It asked the judge to order the two ​former Apple employees named in the lawsuit, Chang Liu and Tang Yew Tan, to sit for depositions, along with OpenAI employee Yu-Ting Peng and an unnamed OpenAI employee who previously worked at ​Apple.

Liu is a former Apple senior system electrical engineer while Tan is Apple's ​former vice president of product design for iPhone and Apple Watch.

Apple also sought depositions from corporate ‌representatives ⁠of OpenAI and io Products, which is OpenAI's commercial arm and is listed as a defendant in the lawsuit.

"Apple will be irreparably harmed absent a preliminary injunction," it said in a filing.

"Apple’s request for a preliminary injunction is both based on ​false information and completely ​unnecessary because we ⁠do not have, nor want, any of their trade secrets," OpenAI said in a blogpost late on Monday.

Apple's lawsuit, filed in ​the U.S. District Court for the Northern District of California, ​comes after ⁠OpenAI successfully fended off a legal challenge from Elon Musk's xAI.

The lawsuit sets up a battle over the control of future AI devices that may not use traditional apps or ⁠operating ​systems — devices which, if successful, would direct consumer ​attention away from Apple's best-selling iPhone. Analysts believe OpenAI is working on a phone or other device of ​its own.

(This story has been corrected to fix the hyperlink in paragraph 2)

Reporting by Sumedha Mukherjee and Shubham Kalia in Bengaluru; Editing by Kate Mayberry

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

Posted by Defense World Staff on Aug 3rd, 2026

FSA Advisors Inc. raised its stake in shares of Apple Inc. (NASDAQ:AAPL – Free Report) by 550.0% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 11,109 shares of the iPhone maker’s stock after acquiring an additional 9,400 shares during the period. Apple makes up 1.9% of FSA Advisors Inc.’s investment portfolio, making the stock its 7th biggest holding. FSA Advisors Inc.’s holdings in Apple were worth $2,819,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in AAPL. Vanguard Group Inc. lifted its holdings in shares of Apple by 1.9% during the fourth quarter. Vanguard Group Inc. now owns 1,426,283,914 shares of the iPhone maker’s stock worth $387,749,545,000 after purchasing an additional 26,856,752 shares during the period. State Street Corp increased its stake in Apple by 1.1% in the 4th quarter. State Street Corp now owns 604,056,505 shares of the iPhone maker’s stock valued at $164,218,801,000 after buying an additional 6,555,392 shares during the period. Geode Capital Management LLC increased its stake in Apple by 0.5% in the 4th quarter. Geode Capital Management LLC now owns 358,032,517 shares of the iPhone maker’s stock valued at $97,031,587,000 after buying an additional 1,866,103 shares during the period. Morgan Stanley raised its position in Apple by 0.6% during the 4th quarter. Morgan Stanley now owns 230,483,035 shares of the iPhone maker’s stock worth $62,659,118,000 after buying an additional 1,379,651 shares during the last quarter. Finally, Norges Bank purchased a new position in Apple during the 4th quarter worth $52,266,468,000. 67.73% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Apple In other news, insider Ben Borders sold 1,274 shares of Apple stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $290.00, for a total transaction of $369,460.00. Following the completion of the sale, the insider directly owned 38,713 shares in the company, valued at approximately $11,226,770. This trade represents a 3.19% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.06% of the company’s stock.

Wall Street Analyst Weigh In Several research firms have recently commented on AAPL. Jefferies Financial Group restated a “hold” rating on shares of Apple in a research note on Tuesday, June 9th. Maxim Group reissued a “buy” rating and set a $350.00 price target (up from $310.00) on shares of Apple in a report on Tuesday, June 9th. BNP Paribas Exane raised shares of Apple from a “neutral” rating to an “outperform” rating and set a $300.00 price target for the company in a report on Friday, April 17th. Oppenheimer restated a “market perform” rating on shares of Apple in a research report on Friday. Finally, Raymond James Financial reaffirmed a “market perform” rating on shares of Apple in a report on Friday. One investment analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, ten have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $331.60.

Check Out Our Latest Report on AAPL

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

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

Apple (NASDAQ:AAPL – Get Free Report) last announced its quarterly earnings data on Thursday, July 30th. The iPhone maker reported $2.02 EPS for the quarter, beating the consensus estimate of $1.89 by $0.13. The firm had revenue of $109.42 billion during 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 business’s revenue for the quarter was up 16.4% compared to the same quarter last year. During the same quarter last year, the business earned $1.57 earnings per share. Analysts expect that Apple Inc. will post 8.8 earnings per share for the current fiscal year.

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

Apple Profile (Free Report)

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

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

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

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Apple (AAPL -7.35%) just reported its best third quarter in five years.

Net sales grew 16.4% year over year, largely thanks to a 21.7% increase in iPhone sales and an 18.1% overall increase in product sales. It marked the first Q3 since fiscal 2021 when products outpaced services growth.

But despite the strong results, Apple fell 7.4% on July 31 -- losing $426 billion in market cap in just two days. Here's what Wall Street didn't like about Apple's results, and if the tech stock is a good buy now.

Image source: The Motley Fool.

Products take the spotlight Demand for Apple's products surged during the pandemic as consumers shifted spending toward discretionary goods rather than services or experiences. But as you can see in the table, Apple's Q3 product sales went practically nowhere for years -- that is, until the jump we just saw in Q3 fiscal 2026.

Net Sales ($Billions)

Q3 Fiscal 2019

Q3 Fiscal 2020

Q3 Fiscal 2021

Q3 Fiscal 2022

Q3 Fiscal 2023

Q3 Fiscal 2024

Q3 Fiscal 2025

Q3 Fiscal 2026

Products

$42.35

$46.53

$63.95

$63.36

$60.58

$61.56

$66.61

$78.68

Services

$11.46

$13.16

$17.49

$19.6

$21.21

$24.21

$27.42

$30.74

Data source: Apple.

By comparison, services have been consistently growing in the double digits. Services include cloud storage via iCloud, Apple Card, Apple Pay, and digital subscriptions such as Apple Music, Apple TV, Apple One, and more.

Services have been an excellent, high-margin category for Apple and a way to increase the stickiness of its integrated ecosystem. But at the end of the day, Apple still relies on product sales. And seeing product sales jump is a clear signal that Apple is entering a new upgrade cycle.

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Apple's "100-year flood" In June, Apple raised prices on Mac, iPad, Apple TV, HomePod, and Vision Pro due to surging memory chip costs. Tim Cook addressed the reason for these price increases on the July 30 earnings call:

On the pricing front, we reluctantly raised prices, I would say. We did it because we're in what I would characterize as a 100-year flood on the memory pricing, with exponential increases in memory prices.

Some investors may be fearing that price increases are pulling forward demand for existing Apple product inventory ahead of the annual September new iPhone 18 Pro release. And the other risk is that consumers, who are already dealing with inflationary pressures from higher living costs -- such as food, gas, and shelter -- may resist higher product prices.

Wells Fargo analyst Aaron Rakers asked Apple management on the July 30 earnings call whether it was seeing a pull-forward in demand from the consumer, enterprise, or education markets, and if that's factoring into Apple's outlook. To which Tim Cook responded:

You're talking about on iPhone, I assume, in general. We've been running at this 22% growth rate for the last while. For this cycle has been a 22% increase year to date. It's not obvious, I would say. It's not obvious in the data that what you're asking is true. Obviously, we've now had to increase prices on iPad and Mac, the price elasticity there, it's just too early to come to a definitive conclusion of what happens there.

The 22% Cook is referring to is Apple's iPhone revenue for the nine months ended June 27, 2026 -- which is up 22.4% -- roughly matching the three months ended June 27, 2026 year-over-year growth rate of 21.7%. So while Cook isn't dismissing the notion that demand is being pulled forward, it's also clear that the latest quarter more so matches trends Apple was already seeing this fiscal year in the quarters before it announced price increases in June.

That being said, Apple's weak guidance of just 9% to 11% year-over-year net sales growth for fourth quarter fiscal 2026 seems to indicate that some demand could have been pulled forward. Or, at the very least, Apple is cautious about consumer demand heading into the iPhone 18 Pro launch in September, followed by its hottest quarter of the year, which tends to be the first quarter of Apple's fiscal year (the quarter ending in late December).

Alleviating cost pressures Apple's rising costs is argubaly an even bigger concern than its weak revenue guidance. On the July 30 earnings call, Apple noted that the primary bottleneck is getting the microchips needed to handle the processing, graphics, and artificial intelligence (AI) functions on its devices. But because demand was better than expected, Apple's supply chain is arguably even more constrained now than it was before, which could lead to margin pressure.

Cook said the following on the July 30 earnings call:

The supply chain just has less flexibility in it than normal. We've been pulling supply ahead. At some point, there's a limit to that.

Arguably, the biggest near-term risk for Apple is that it would have to absorb much of these higher costs because it has already raised prices and consumers are spread thin. But one way to counteract some of that pressure is to make new product purchases more affordable.

Apple's new leasing program, facilitated by Klarna, will cost as little as $17.99 per month. Buy now, pay later options, paired with multi-year service contracts that carriers already offer, can help reduce price increases and drum up demand for upcoming products, such as a foldable iPhone, smart glasses, and an AI-powered pendant.

Granted, these programs are a form of leverage on consumer balance sheets. And too much reliance on buy now, pay later is a red flag for the broader economy. But it's a smart move by Apple to navigate a difficult period in its supply chain while protecting its margins.

Apple's investment thesis remains intact Even after its sell-off, Apple is far from a cheap stock at 35.3 times earnings. However, the growth stock remains a good buy for investors who believe Apple can overcome its supply chain challenges and capitalize on AI without drastically increasing capital expenditures (capex).

AI tools will operate on Apple's devices. So Apple doesn't need to spend boatloads of capex developing its own AI models. Rather, it can cater to user preferences by offering a suite of options and collecting fees in the process. So AI will fuel a product upgrade cycle and new product development. And when paired with double-digit services growth and stock buybacks, Apple's earnings will accelerate, justifying its premium valuation.

There are plenty of other AI stocks with greater growth potential than Apple. But Apple benefits from AI while still generating gobs of free cash flow, making it arguably one of the most well-rounded AI stocks to buy now.

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

The partnership is also examining emerging applications in paper manufacturing.

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

Image source: Getty Images.

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

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

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

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

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

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

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

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

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

Novo Resources Corp (TSX:NVO, OTCQX:NSRPF, ASX:NVO, FRA:1NOR) earlier this week outlined plans for a 2,700-metre reverse circulation drilling program at the Tibooburra Gold Project in New South Wales, targeting extensions to high-grade mineralisation at Clone and a previously undrilled quartz-reef trend at Pioneer South.

Executive chairman Mike Spreadborough said the campaign would build on encouraging results from the company’s previous drilling at Clone. He highlighted intersections including 12 metres at 5.9 grams per tonne gold and four metres at 13.7 grams per tonne gold.

Spreadborough said the program was intended not only to expand Clone but also to improve the company’s understanding of the broader 22-kilometre mineralised system.

General manager of exploration Rohan Williams said the northern extension of Clone represented a compelling target because the mineralised system appeared to plunge shallowly north beneath a creek.

Williams said the company aimed to “replicate these high-grade intercepts that we received last year and track it down plunge.” He also referred to an intersection of 17 metres at 2.4 grams per tonne gold and said the mineralisation could potentially support open-pit extraction as well as further underground exploration.

At Pioneer South, the company is preparing to test a target that has not previously been drilled. Williams said narrow mineralisation had been identified at surface alongside high-grade rock-chip results, with the company hoping that drilling would intersect repeated en echelon structures at depth.

A discovery at Pioneer South would provide Novo Resources Corp (TSX:NVO, OTCQX:NSRPF, ASX:NVO) with an additional mineralised target within the wider project area, while successful step-out drilling at Clone could extend the known high-grade gold shoot.

The drilling program is also expected to satisfy the expenditure requirement for Novo Resources Corp (TSX:NVO, OTCQX:NSRPF, ASX:NVO) to earn a 70% interest in the project under its farm-in arrangement with Manhattan Gold Corporation Ltd and Awati Resources Pty Ltd. Spreadborough said completion of the earn-in would lead to the formation of a joint venture, with Novo Resources Corp becoming project manager.

Potential catalysts include the commencement of drilling, initial observations from the campaign, assay results from Clone and Pioneer South, completion of the 70% earn-in and the definition of follow-up work for 2027.

Beyond drilling, Spreadborough said the company’s geologists planned to undertake a major soil-sampling campaign across the 22-kilometre system. He said Novo Resources Corp was ultimately seeking to identify the source of the historically mined gold and assess the potential for a larger mineralised system.

Interview highlights Novo Resources Corp is preparing a 2,700-metre reverse circulation drilling program at the Tibooburra Gold Project in New South Wales. The campaign is expected to include approximately 1,700 metres at the Clone prospect and 1,000 metres at Pioneer South. At Clone, the company will test the northern and down-plunge extensions of previously identified high-grade gold mineralisation. Previous Clone results discussed in the interview included 12 metres at 5.9 grams per tonne gold, 17 metres at 2.4 grams per tonne gold and four metres at 13.7 grams per tonne gold. Rohan Williams said the mineralised system appeared to plunge shallowly north beneath a creek, providing a clear structural target for follow-up drilling. Pioneer South has not previously been drilled, despite surface rock-chip results of up to 19 grams per tonne gold. Drilling at Pioneer South will assess whether narrow surface mineralisation develops into repeated en echelon structures at depth. The program is expected to allow Novo Resources Corp to earn a 70% interest in the project under its farm-in arrangement. Once the interest is earned, a joint venture is expected to be formed and Novo Resources Corp will become project manager. The company plans additional work in 2027 after reviewing the drilling results. A major soil-sampling campaign is also planned across the broader 22-kilometre system. Novo Resources Corp is seeking to identify the source of the historically mined gold and determine whether the project hosts a larger mineralised system.

Proactive: Novo Resources Corp is preparing to launch a 2,700-metre reverse circulation drilling program at its Tibooburra Gold Project. Here to discuss the program are executive chairman Mike Spreadborough and general manager of exploration Rohan Williams. Gentlemen, good to see you. Mike, can you outline the key objectives of the program?

Mike Spreadborough: People might recall that we completed a drilling program last year that returned some very good high-grade results. That program was focused on Clone, where we drilled intersections including 12 metres at 5.9 grams per tonne gold and four metres at 13.7 grams per tonne gold.

Part of this program is about building on and growing Clone, but we are also focused on the entire 22-kilometre system and developing a bigger picture.

Following good rock-chip results of up to 19 grams per tonne gold last year, we will also complete more drilling at Pioneer. This is the next step in understanding the broader system, so it is an exciting program for us.

Proactive: Rohan, what makes the northern extension of the high-grade gold shoot at Clone such a compelling target?

Rohan Williams: As Mike mentioned, we have a couple of very good intersections at Clone, including 12 metres at 5.9 grams per tonne gold and 17 metres at 2.4 grams per tonne gold.

These could potentially be mined by open-pit methods and explored further underground. The system appears to plunge shallowly to the north before passing beneath a creek.

We are hoping to track the system north and replicate the results received from last year’s drilling program. Our objective is to reproduce those high-grade intercepts and follow the mineralisation down plunge.

Proactive: Let’s also turn to Pioneer South. It has never been drilled despite strong surface results. What are you hoping to discover there?

Rohan Williams: The mineralisation is quite narrow at surface, but we are hoping that, as we track the structure at depth, we will identify a number of en echelon, repeating structures.

There are certainly very high-grade rock-chip results at surface, and the target has never been drilled. We are now putting the drill bit into it and hope to delineate some encouraging intercepts.

Proactive: Mike, how close are you to completing the expenditure required to earn a 70% interest in the project?

Mike Spreadborough: That is a good question because this is a farm-in arrangement. This drilling program will allow Novo Resources Corp to achieve a 70% interest.

The joint venture will then be formed, and Novo Resources Corp will become the project manager. I think that demonstrates how interested we are in the project.

This program will allow us to form the joint venture, and we will move ahead with more work in 2027.

Proactive: Beyond this drilling campaign, what exploration work will Novo Resources Corp undertake to build its understanding of Tibooburra?

Mike Spreadborough: It becomes very hot in Tibooburra over the Christmas period, so we will take time to reflect on the drilling results.

In the meantime, our geologists will undertake a major soil-sampling campaign across the 22-kilometre system. Some of that work is already reflected in the company’s recent announcement, and we have identified some encouraging contours.

We want to build a strong understanding of the entire system. What we are really looking for is the source of the gold.

The area has a long history of mining, and we want to understand the source of the gold system. That will help us assess the potential for a larger system. We remain very excited about it.

Proactive: Mike, as always, there is plenty going on and plenty to look forward to. Thank you both for your time. We will be in touch as more results come through.

Mike Spreadborough: Thanks, Jonathan.

There's been speculation for a while that Apple (AAPL -1.41%) would eventually launch a major leasing program for its devices. Still, until recently, the company mostly offered leasing plans for its iPhones.

But after Apple rolled out its new Upgrade program just a few days ago, the company is now all-in on letting customers lease their devices -- from the Apple Watch to its Mac computers -- through Klarna.

It's a big move for Apple, and it could make its premium products more affordable for some customers while encouraging others to upgrade to more expensive models.

Image source: The Motley Fool.

Apple offers customers an Upgrade Apple used to have its iPhone Upgrade plan, which let some customers pay for their phones monthly and upgrade to a new one every year, but it's doing away with that plan -- while keeping the Upgrade name -- and rolling out leases for nearly all of its devices.

Apple said in a press release that new iPhones will start at $17.99 under the Upgrade plan, an Apple Watch will start at just $11.99, new iPads will start at $17.99 per month, and Mac leases will start at $24.99 per month. The iPhone and Watch will have leasing options of 12 to 24 months, while the Mac and iPad have 24- to 36-month leases.

Once a customer completes their lease term, they can either upgrade their device to the latest generation, purchase it with a one-time payment, or turn in the device and end the lease. Buy now, pay later payments company Klarna will handle enrollment, approval, and leasing billing, and the payment process will be managed in the Klarna app.

Removing the sticker shock and potentially boosting upgrades The timing of Apple's new Upgrade leasing program is particularly notable because just a couple of weeks ago, the company significantly raised prices across many of its devices. For example, the cost of some of its Macs and iPads jumped by $200 or more.

Apple said the price increases are the result of surging memory processor costs, which have risen as demand for memory in artificial intelligence data centers increases. Many other tech companies are in the same boat as Apple, with their margins squeezed unless they raise device prices.

Apple hasn't announced higher prices for its iPhones, but is expected to do so once the latest generation debuts in the fall.

This is likely why Apple wanted to roll out its new Upgrade program as soon as possible. By giving customers the option to lease their devices instead of paying for them up front, Apple may be able to round off the harsh edges of its recent price increases -- while still maintaining the enviable 39% gross margins it earns on its hardware.

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Investors will want to pay especially close attention to upgrade cycles Apple's goal is pretty obvious, given the name for the new leasing program. Just as with its previous iPhone Upgrade plan, the company hopes that customers who lease their devices will develop a regular habit of upgrading to the newest version of their iPhone, Macs, Watch, etc., when the lease term ends.

And with low monthly payments for some devices, it'll likely be easier for users to justify getting a new device every year or two if the monthly price stays the same, or close to it.

What's more, the new Upgrade program could convince customers to buy devices they wouldn't normally purchase. For example, Apple is rumored to be releasing its first foldable iPhone in September, with a 7.8-inch screen and a premium $2,000 price tag.

That's a hefty sum to pay for a phone, but if some customers can lease it for a reasonable monthly price, then it could spur sales of the high-end device.

Give this some time to bake Investors won't know how successful the new Upgrade program is for at least a few more quarters. Its new iPhones will likely debut sometime in September, and Apple's best-performing quarter is typically its fiscal first quarter, which covers the end of September through December.

This means that by early next year, investors will likely have more insight into whether customers are using Apple's leasing program.

But, at least for now, this looks like a smart move by the company to help ease the pain of its recent price increases -- and potentially convince some customers that a $2,000 phone is worth the cost.

View of an Apple logo at an Apple store in Paris, France, April 23, 2025. REUTERS/Abdul Saboor/File Photo Purchase Licensing Rights, opens new tab

July 31 (Reuters) - Apple shares dropped 7.3% before the bell on Friday as the tech giant warned that supply constraints would hurt growth, prompting ​investors to look beyond near-term shortages to gauge the hit from ‌an expected iPhone price hike.

The decline puts Apple (AAPL.O), opens new tab on track to shed roughly $361.6 billion in market value, if the losses hold.

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The company's outlook highlighted a broader industry challenge, with ​AI-driven demand tightening supplies of advanced chips and memory, driving up ​costs and prolonging supply-chain bottlenecks across the technology sector.

Apple said on ⁠Thursday that shortages of advanced chipmaking capacity were limiting supplies of iPhones, ​Macs and some iPads, with Chief Executive Tim Cook saying supply constraints, rather ​than weak demand, was driving the softer outlook.

Cook will vacate the top job at the tech firm for John Ternus at the start of September, capping a leadership era that ​helped build Apple into the world's most valuable company and a top-performing ​member of the "Magnificent Seven".

"Demand robustness is running into a wall of supply and cost challenges," ‌J.P. ⁠Morgan analysts led by Samik Chatterjee said, adding that supply constraints were likely to defer sales rather than destroy them, with revenue expected to be realized in future quarters.

Apple forecast 9% to 11% revenue growth for the current quarter, ​below Wall Street expectations ​of about 12%, ⁠while projecting mid-teens percentage growth in iPhone revenue that also lagged analyst estimates.

iPhone sales in the June quarter rose ​21.7% to $54.25 billion, above estimates of $53.86 billion and marking the ​best-ever ⁠iPhone sales for the third quarter.

Apple is widely expected to raise iPhone prices later this year, but investors are increasingly focused on whether it can raise them ⁠without denting ​demand.

TD Cowen analysts said the upcoming iPhone ​cycle, AI-powered Siri features and Apple's upgrade program could allow the company to increase prices "without significant demand ​destruction."

Reporting by Rashika Singh and Kanishka Ajmera in Bengaluru; Editing by Mrigank Dhaniwala

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Rashika reports on brokerages and financial markets, alongside technology and corporate developments for Reuters, with a focus on U.S. and global companies. Her coverage spans analyst actions, earnings-driven stock moves, semiconductors, artificial intelligence, aerospace and defense, and high‑growth technology stocks, often through breaking news and market‑moving “hot stock” coverage. Her reporting primarily appears in the Technology, Business, and Markets sections of the Reuters website and wire service, examining how brokerage research, corporate strategy and earnings influence investor sentiment and global competition. She regularly contributes to Reuters’ spot and breaking‑news coverage, rather than a named column or standalone newsletter.