Apple zdražil několik hardwarových produktů, ale iPhone nechal beze změny, protože se zpřísňují dodávky pamětí a úložišť kvůli rostoucím výdajům na AI infrastrukturu. Apple zdražil MacBook Neo, MacBook Air, MacBook Pro, iPad Pro, iPad Air, HomePod, HomePod mini a Apple TV.
Apple stock is trading at elevated levels. Where are AAPL shares going? What Is Driving Apple’s Recent Price Increases?Apple raised prices on several hardware products—MacBook Neo, MacBook Air, MacBook Pro, iPad Pro, iPad Air, HomePod, HomePod mini and Apple TV—while leaving iPhone pricing unchanged, citing tightening memory and storage supplies as AI infrastructure spending accelerates. The move lines up with Micron Technology CEO Sanjay Mehrotra’s view that memory markets could stay tight beyond calendar 2027.
Apple’s latest round of increases includes a $100 jump on the MacBook Neo to $699 and a $200 increase on the MacBook Air 512GB to $1,299, raising the stakes on whether demand holds as sticker prices rise. Bigger-ticket moves like iPad Air 128GB going from $599 to $749 and iPad Pro WiFi 256GB from $999 to $1,199 put the margin-versus-units tradeoff front and center.
Apple’s supply strategy is also shifting from cost control to outright availability, with analyst Ming-Chi Kuo warning the "memory supply-demand gap will keep widening through 2027" as AI data centers absorb capacity. Kuo estimates 15% to 20% of memory capacity allocated to consumer electronics in 2026 could be redirected to AI data centers in 2027.
Critical Price Levels To Watch For AAPLApple is sitting right on top of its short-term trend gauges, trading essentially flat versus the 20-day SMA ($294.88) and modestly above the 50-day SMA ($292.67), which often translates into choppy, headline-driven action rather than a clean momentum run. The bigger-picture trend still leans constructive, with price about 6.6% above the 100-day SMA ($276.59) and about 9.1% above the 200-day SMA ($270.33).
RSI is the cleaner momentum lens here: at 50.78, it’s neutral, which fits a stock that’s digesting gains rather than pressing into overbought territory. RSI measures how "stretched" a move is, and this reading implies neither buyers nor sellers have a clear momentum edge right now.
The moving-average structure remains supportive, with the 20-day SMA above the 50-day SMA and a golden cross (50-day SMA above 200-day SMA) that formed in September 2025 still intact. Key turning points to keep in mind: RSI pushed into overbought territory in June (near the recent swing high and 52-week high), while the more recent swing low in April is the last obvious higher-low reference on the chart.
Key Resistance: $302.50 — a nearby pivot area that sits above the current price and can act as the next "prove it" level for a breakout attempt Key Support: $287.50 — a nearby floor that’s below the 20-day/50-day area and would be a key line to defend if the stock slips back into its recent range What Is Apple and How Does It Operate?Apple is among the largest companies in the world, with a broad portfolio of hardware and software products aimed at consumers and businesses. The iPhone drives the majority of sales, and products like the Mac, iPad, and Watch are built around the iPhone as the center of a wider ecosystem.
That ecosystem matters for today’s news because component costs (like memory and storage) can ripple across multiple device lines at once, not just one product cycle. Apple also designs its own software and semiconductors and relies on partners like Foxconn and TSMC to manufacture products and chips, which makes supply-chain constraints and pricing power a recurring theme for investors.
Apple Earnings Preview: What Analysts ExpectLooking further out, the next major catalyst for the stock arrives with the July 30, 2026 (estimated) earnings report.
EPS Estimate: $1.89 (Up from $1.57 YoY) Revenue Estimate: $108.86 Billion (Up from $94.04 Billion YoY) Valuation: P/E of 35.6x (Indicates premium valuation relative to peers) Analyst Consensus & Recent Actions: The stock carries a Buy rating with an average price target of $324.16. Recent analyst moves include:
Evercore ISI Group: Outperform (Maintains Target to $365.00) (June 25) KGI Securities: Downgraded to Hold (Target $315.00) (June 22) B of A Securities: Buy (Maintains Target to $380.00) (June 18) How $1,000 Invested In Apple Would Have PerformedA $1,000 investment in Apple Inc. on July 2, 2021, would have grown to $2,135 by July 1, 2026—a 113.5% return over the period, excluding dividends. The stake swung between $907 and more than $2,000 along the way.
After starting on July 2, 2021, the position hit its period low on January 5, 2023, before recovering and later reaching a period high on June 2, 2026. The journey included a maximum drawdown of -33.4%. By July 1, 2026, the investment finished the five-year stretch at $2,135.
Apple’s 16.4% annualized return outpaced the S&P 500’s 11.6% annualized gain and edged the Nasdaq 100’s 15.3% annualized return over the same holding period. A separate five-year snapshot pegged Apple’s average annual return at 15.04% and put a $1,000 stake at $2,054.35.
Apple Inc. has a market capitalization of about $4.34 trillion. The stock’s current P/E is 35.6, and its current dividend yield is 0.37%.
Apple Benzinga Edge Rankings: Strengths and WeaknessesBelow is the Benzinga Edge scorecard for Apple, highlighting its strengths and weaknesses compared to the broader market:
The Verdict: Apple’s Benzinga Edge signal reveals a quality-and-momentum-led setup with a clear premium-valuation tradeoff. For longer-term bulls, the trend stays intact above the major moving averages, but the low Value score means the stock may need clean follow-through (or strong guidance) to push through resistance.
AAPL Stock Price Activity AAPL Stock Price Activity: Apple shares were trading 1.73% higher at $299.46 at the time of publication on Thursday, according to Benzinga Pro data.
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Apple plánuje mezi druhou polovinou letošního roku a první polovinou roku 2027 uvést nejméně pět nových iPhonů a zvýšit výrobu skládacích modelů. Zároveň jedná o paměťových čipech z Číny kvůli napjatým dodávkám pamětí.
Apple plans to launch at least five new iPhone models between the second half of this year and the first half of 2027, while increasing production plans for foldable devices, as it looks to vie for a greater slice of the market amid an industrywide component supply shortage, Nikkei Asia reported Thursday.
The U.S. tech giant has instructed suppliers to prepare to produce about 10 million foldable iPhones this year, up from an earlier forecast of 7 million to 8 million units, the report said, citing people familiar with the matter.
Ahead of launching its first-ever foldable device, Apple has already secured components for about 80 million smartphones spread across new models for the second half of 2026, according to Nikkei Asia.
Apple's total smartphone production for 2026 is expected to exceed 220 million units, the report said. Its scale and purchasing power in sourcing memory and components remain significantly stronger than most of its peers, even as shortages driven by AI-related demand ripple through the industry.
This has allowed Apple to navigate supply shortages better than Chinese rivals such as Xiaomi, Oppo, and Vivo, which have each slashed their annual production targets to below 100 million units, Nikkei Asia reported.
"Compared with Apple's bargaining power, the Chinese smartphone makers are in a weak spot in terms of getting more supplies of memory chips or increasing the prices," an executive at a supplier for both Apple and Xiaomi told Nikkei Asia. "It gives Apple a good motivation to launch the iPhones in spring and take more of their share."
Apple's efforts to secure components come as a global memory shortage driven by demand from artificial intelligence data centers pushes up costs across the industry.
Bloomberg reported Thursday that Apple is in talks to source memory chips for devices sold in China from Chinese manufacturers ChangXin Memory Technologies and Yangtze Memory Technologies, both of which are included on a Pentagon list of companies alleged to support Beijing's military. Apple has not confirmed the discussions, and Bloomberg reported that negotiations remain ongoing.
Apple is reportedly seeking to broaden its supplier base as memory shortages strain production across the consumer electronics sector.
Apple plans to introduce at least two new iPhones in the first half of 2027, including the standard iPhone 18 and a new iPhone Air, according to Nikkei Asia.
The aggressive product roadmap comes after Apple implemented price hikes for its MacBook and iPad lineups last week as memory and storage costs surged.
Apple did not immediately respond to CNBC's request for comment.
Image Credits:Brian Heater Apple reportedly has plans to release several new iPad Pros and a new MacBook Pro in the first half of next year.
The company is currently working on four models of the new tablet with faster chips, Bloomberg reported. It is also developing a new “entry-level” MacBook Pro, which is internally referred to as K104, the outlet writes. The company is also targeting that same period for the release of its first M7 processor.
The last time Apple released an iPad Pro was in October of last year. In March, the company released a new high-end MacBook Pro and the budget laptop MacBook Neo, albeit the Neo uses the A18 chip, originally designed for the iPhone. This anticipated new MacBook is expected to be a full-fledged Pro.
The apparent product plans come amidst whisperings of other upcoming releases (including, perhaps, a foldable phone) as the company preps for its post-Tim Cook-as-CEO era while also battling supply chain issues that Cook says have forced it to raise its prices. Those price hikes have been substantial in some cases. The MacBook Pro with 1 terabyte of storage recently jumped from $1,699 to $1,999, for instance. So if the company is working on more budget-friendly laptops and tablets, this would be a good time to introduce them.
Apple did not immediately respond to our request for more information.
Ruský antimonopolní úřad varoval Apple kvůli údajnému znevýhodňování ruských vyhledávačů a softwaru a chce jejich předinstalaci. Při nesplnění do 15. července hrozí pokuta až 4 miliardy rublů (51,6 milionu USD).
An Apple logo is seen at the entrance of an Apple Store in downtown Brussels, Belgium March 10, 2016. REUTERS/Yves Herman Purchase Licensing Rights, opens new tab
CompaniesMOSCOW, July 1 (Reuters) - Russia's anti-monopoly watchdog has issued a warning to iPhone maker Apple (AAPL.O), opens new tab, urging the company to address what it described as discriminatory practices against Russian search engines and software.
The Federal Antimonopoly Service said Apple must ensure Russian software, including search engines and messenger Max, is pre-installed on its devices.
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If the company fails to remedy the violations by July 15, it could face a fine of up to 4 billion roubles ($51.6 million).
($1 = 77.4955 roubles)
Reporting by Anastasia Lyrchikova; Writing by Maxim Rodionov; Editing by Emelia Sithole-Matarise
Our Standards: The Thomson Reuters Trust Principles., opens new tab
Apple rozšiřuje AI napříč službami a hardwarem, aby podpořil růst tržeb. Tržby ze služeb ve 2. čtvrtletí fiskálního roku vzrostly o 14 % na 30,98 mld. USD.
Key Takeaways Apple is using AI across Creator Studio, services and hardware to support revenue growth.Apple's Services revenues rose 14% to $30.98B in fiscal Q2, making up 27.9% of sales.AAPL shares are up 6.4% YTD, trailing the sector's 15.7%, while trading at a premium valuation. Apple (AAPL - Free Report) is increasingly leveraging AI as a core driver of revenue growth across its services and hardware businesses. Management is positioning Apple Intelligence as deeply integrated into the company’s ecosystem rather than as a standalone AI product. The company recently introduced major updates to Apple Creator Studio, expanding AI-powered capabilities across its creative applications for Mac, iPad and iPhone. The enhancements strengthen integration between apps, allowing users to seamlessly edit images across Keynote, Pages, Numbers, Final Cut Pro and Pixelmator Pro, while Logic Pro gains new music creation tools.
Final Cut Pro now features AI-powered Generate Captions, Edit Detection and Auto Mask, enabling automatic subtitle creation, clip reconstruction and precise subject selection for faster video editing. Additional improvements include enhanced Match Color, Advanced Trimming and new Creator Themes. Motion, Compressor and Final Cut Camera also receive updates that improve animation workflows, immersive video support and professional video capture.
Pixelmator Pro now integrates more deeply with Apple’s productivity apps, enabling direct image editing, AI-powered image generation, vector shape creation and access to a curated Content Hub. Keynote, Pages, Numbers and Freeform also gain new productivity features. Meanwhile, Logic Pro introduces a more accurate Chord ID, a new Producer Project, enhanced Alchemy synthesis capabilities and expanded Beat Breaker tools, offering musicians more powerful and intelligent music production workflows.
Last month, Apple launched new features for services users, including improved Flyover views and Local Lists in Apple Maps, flexible sharing options in Find My, the ability to use Visual Intelligence to split bills with Apple Cash, video podcast support across Mac and tvOS, revamped Shared Albums in iCloud, and a new program for Apple Fitness+. These, along with major updates to Apple Creator Studio, are expected to drive the Services business. In the second quarter of fiscal 2026, Services revenues grew 14% year over year to $30.98 billion and accounted for 27.9% of sales. For the third quarter of fiscal 2026, Apple expects revenues to grow 14% to 17% year over year, with Services expected to rise at a similar pace after adjusting for foreign exchange.
Apple Faces Stiff CompetitionAAPL is facing stiff competition from the likes of Alphabet (GOOGL - Free Report) and Microsoft (MSFT - Free Report) in AI. Alphabet and Microsoft are demonstrating significantly stronger near-term AI monetization and infrastructure execution than Apple. This has spooked investors as concerns continue to grow that Apple risks falling behind in the generative AI race despite its large ecosystem and hardware advantages.
Both Alphabet and Microsoft are already translating AI adoption into accelerating revenue growth across core businesses. In the third quarter of fiscal 2026, Microsoft reported that its AI business surpassed a $37 billion annual revenue run rate, growing 123% year over year. AI is driving Alphabet’s Search & Other revenues, which grew 19% year over year in the first quarter of 2026. Gemini Enterprise’s paid monthly active users grew 40% sequentially, while revenues from products built on Google’s generative AI models increased nearly 800% year over year. Alphabet’s total paid subscriptions reached 350 million, driven in part by Gemini app adoption and premium AI plans.
AAPL’s Share Price Performance, Valuation & EstimatesApple shares have returned 6.4% year to date, underperforming the broader Zacks Computer and Technology sector’s return of 15.7%.
Apple Stock’s Performance
Image Source: Zacks Investment Research
The AAPL stock is trading at a premium, with a forward 12-month price/earnings of 30.9X compared with the broader sector’s 23.65X. AAPL has a Value Score of D.
AAPL Valuation
Image Source: Zacks Investment Research
The Zacks Consensus Estimate for fiscal 2026 earnings is pegged at $8.74 per share, unchanged over the past 30 days, suggesting 17.2% year-over-year growth.
Apple currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Apple lobbuje u americké administrativy za povolení nákupu paměťových čipů od čínské CXMT, aby zmírnil tlak rostoucích nákladů. Firma zároveň rozšiřuje snahu o diverzifikaci dodavatelského řetězce.
Shares of Apple Inc NASDAQ: AAPL are trading around $285 this week, down almost 10% from the all-time highs they hit earlier this month. A string of unhelpful headlines has weighed on sentiment, from the underwhelming Siri AI reveal at WWDC to last week's price hikes on MacBooks and iPads.
Apple Today
$292.98 +3.62 (+1.25%)
As of 10:28 AM Eastern
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52-Week Range$201.50▼
$317.40Dividend Yield0.37%
P/E Ratio35.36
Price Target$314.85
The latest update is more interesting than the market has so far given it credit for. It was reported last week that Apple has launched a lobbying campaign to secure clearance from the U.S. administration to procure memory chips from CXMT, a Chinese company currently on the Pentagon's 1260H list. For context, that's the U.S. government's official register of businesses operating in the country that are believed to have ties to the Chinese military.
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While the headline reads as another piece of complicated news for a stock that's had plenty of it, the underlying signal is potentially more constructive.
Apple is clearly moving with speed to address the cost pressure that's been weighing on it, even if the path is far from straightforward.
Why Apple Is Lobbying for Chinese MemoryThe overall context here is important. Memory chip prices have been surging globally, driven by the same AI-related demand that's been powering rallies in stocks across the board. For Apple, the impact is direct, with CEO Tim Cook publicly admitting last week that the cost pressure had become "unsustainable" and that "price increases are unavoidable." That admission was followed swiftly by price hikes across many of its core products, including its MacBook and iPad ranges, and the stock had its worst day in over a year as a result.
The lobbying campaign now reported is an attempt to ease that exact pressure. CXMT is one of the largest memory chipmakers in China, and securing access to its output could go a long way to offset some of the supply-side bottleneck Apple is facing.
The complication is that CXMT was added to the Pentagon's 1260H list this month, due to its alleged links to the Chinese military. While Apple isn’t explicitly barred from buying from these firms, dealing with companies on that list carries reputational risks and has the whiff of desperation about it.
What Wedbush Is SayingFrom that viewpoint, it’s understandable that Wedbush has cautioned that any benefit from this lobbying effort may be limited, at least in the short term. Apple tried something similar with a Chinese competitor of CXMT, YMTC, back in 2022 and faced significant pushback from Congress. There's every chance the same resistance could repeat itself this time around.
The bigger problem, according to Wedbush, is that the underlying issue isn't really about access. It's about capacity. As they pointed out in a note to clients on the news, "there is simply not enough production capability to support current memory demand."
In other words, even if Apple succeeds in unlocking access to CXMT's output, it won’t fundamentally change the tightening supply-and-demand dynamic that's been driving prices higher. That's a fair caution, and it's worth weighing carefully before getting carried away with the bullish framing.
Why the Market May Still Be Missing the Bigger PictureThat said, focusing purely on the near-term economics may be missing the more important strategic signal. Apple is one of the most capable supply chain operators on earth, and the fact that it's actively lobbying the administration to expand its options speaks to a company that isn't simply sitting back and absorbing this cost squeeze. It's moving aggressively on multiple fronts to find a way through.
This needs to be viewed in the broader context of the strategic moves Apple has been making in recent weeks. The partnership with Intel Corp NASDAQ: INTC on domestic chip production, the deeper push into U.S. manufacturing, and now the lobbying effort on Chinese memory all point to the same underlying story.
Apple is acting to diversify its supply chain in every direction it can, and strategic agility has historically been one of its biggest competitive advantages. For investors, the path to success from this China play may not be smooth, but the direction of travel is reassuring.
A Stock Setup That's Becoming Hard to IgnoreThe combination of all this with Apple's recent pullback makes the current setup interesting. The stock is now meaningfully cheaper than it was at the start of the month. Still, the long-term story, anchored by AI agentic potential, ecosystem stickiness, and a deepening Services revenue mix, hasn't actually changed.
Apple Inc. (AAPL) Price Chart for Wednesday, July, 1, 2026
For investors looking through the noise and asking whether Apple’s trajectory is meaningfully different today than it was a few weeks ago, the answer is, increasingly, that it isn't. The recent headlines might be telling investors to be careful, but the underlying picture is quietly telling them something rather different.
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Nejvyšší soud USA přijal odvolání Apple v právním sporu s Epic Games kvůli tomu, zda firma porušila soudní příkaz ohledně App Store. Případ se má projednat v říjnovém termínu soudu.
The Supreme Court agreed Tuesday (June 30) to hear Apple’s appeal of a lower court ruling that found the company in contempt in its legal battle with Epic Games, Reuters reported Tuesday (June 30).
The ruling that Apple was in contempt came because the judge found that the company violated a judicial order requiring it to make extensive changes to its app store after Epic Games brought an antitrust action against the company, according to the report.
PYMNTS reported in April that the court battle began in 2020 over whether Epic Games could add external payments in its app, enabling the company to bypass the fees charged by Apple’s App Store.
According to the Tuesday report, Apple has argued that it cannot be held in contempt for violating the “spirit” of a court injunction, as opposed to an express provision, and the company has denied that it violated any earlier court orders.
The Supreme Court is expected to hear the case during its term that begins in October, per the report.
Ars Technica reported Tuesday that when announcing it would hear the appeal, the Supreme Court said it would consider “whether a court may hold a party in civil contempt based on a violation of an injunction’s ‘spirit’ where the injunction is silent as to the conduct upon which contempt is based, as the Ninth Circuit holds; or, instead, whether a court must ground a finding of civil contempt on the violation of an order that clearly and unambiguously proscribes the precise conduct at issue, as other circuits hold.”
Apple told Reuters: “This is an important question of law, and we are pleased the Supreme Court will hear our case.”
Epic Games said in a Tuesday post on X: “We’re heading to the Supreme Court where we’ll continue our fight against junk fees Apple charges on third-party payments. Lower courts have rightly found Apple’s fees to be illegal and anticompetitive and we’ll continue to defend free markets.”
Apple vzrostl o více než 2 % poté, co se investoři vrátili k velkým technologickým titulům. Firma zároveň znovu hledá úlevu od rostoucích nákladů na paměti.
Apple Inc. (NASDAQ:AAPL) stock was up more than 2% on Tuesday as investors rotated back into large-cap technology stocks during a risk-on trading session. The Nasdaq gained 1.46%, while the S&P 500 advanced 0.69%.
The rebound follows a sharp selloff last Thursday, when Apple shares fell more than 6%, marking their steepest one-day decline since April 2025.
The drop came after the company raised prices on its Mac and iPad lineup, prompting investors to assess whether Apple can pass higher component costs on to consumers ahead of any potential iPhone price increases.
The stock remains in focus as investors weigh rising memory costs, the possibility of higher iPhone prices, and Apple’s efforts to expand its supply chain by working with Chinese memory manufacturers.
Apple Seeks Relief From Memory CostsApple is again asking the administration for more flexibility to work with Chinese memory suppliers as it deals with a severe component cost and supply crunch, CNBC reported Saturday.
The effort is part of a broader push by U.S. technology companies seeking clearance from the White House, the Commerce Department, and the Pentagon to qualify Chinese vendors without violating U.S. restrictions.
Chinese memory suppliers could help Apple lower costs and gain more leverage with existing suppliers, according to the report. Apple may use those chips in devices sold outside the U.S., especially in China and parts of Asia.
However, adding a new supplier could take months of testing, security checks, and factory reviews.
Analysts See Apple Managing The PressureWedbush Securities analyst Dan Ives told CNBC on Friday that Apple had to raise prices to protect margins amid sharply rising memory costs across the technology supply chain.
Ives said Apple waited as long as possible and made the move at the right time as it enters what he expects to be a major three-year hardware cycle. He expects only limited demand weakness, possibly around 1% to 2% churn on some high-end products.
Albion Financial Group CIO Jason Ware told CNBC Saturday that investors should continue to own Apple despite recent price hikes and stock weakness.
Ware said Apple has a strong long-term setup, supported by upper-single-digit revenue growth, margin expansion, and a large share buyback program.
He said Apple’s affluent customer base remains willing to upgrade, while pricing power should help protect margins without causing major demand weakness.
Ware also pointed to a possible foldable iPhone launch this fall as a driver of upgrades.
Analysts maintain a consensus Buy rating with an average price forecast of $324.16. Recent research includes Evercore ISI reiterating an Outperform rating with a $365 price forecast, KGI Securities downgrading the stock to Hold with a $315 forecast, and Bank of America Securities maintaining a Buy rating with a $380 price forecast.
Technical Picture Remains ConstructiveApple continues to trade above its long-term trend indicators. The stock is about 4.3% above its 100-day simple moving average and 6.8% above its 200-day simple moving average, keeping its broader uptrend intact.
However, the shares remain 2.5% below the 20-day SMA and 1.3% below the 50-day SMA. That suggests the stock is still working through a short-term consolidation.
The relative strength index stands at 46.05, indicating neutral momentum. The reading suggests buyers and sellers remain balanced rather than signaling a decisive breakout.
Key resistance sits near $302.50, while support is around $287.50.
Price ActionAAPL Stock Price Activity: Apple shares were up 2.32% at $288.27 at the time of publication on Tuesday, according to Benzinga Pro data.
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Únik dat z Tata Electronics odhalil seznam dodavatelů, součástek a fotografie údajného chystaného iPhonu 18 Pro. Apple kvůli tomu řeší bezpečnost citlivých informací o neuvedených modelech.
Item 1 of 2 A man walks past an Apple iPhone hoarding on a street in Mumbai, India, June 29, 2026. REUTERS/Francis Mascarenhas
[1/2]A man walks past an Apple iPhone hoarding on a street in Mumbai, India, June 29, 2026. REUTERS/Francis Mascarenhas Purchase Licensing Rights, opens new tab
SummaryCompaniesApple counts Tata as key supplier as it diversifies beyond ChinaTata breach has seen files of Apple, Tesla posted on dark webApple has been investigating the matter, Reuters has reportedSupplier list, component names of iPhone 18 Pro in leakNEW DELHI/SAN FRANCISCO, June 29 (Reuters) - Sensitive lists of components and suppliers, and photos of Apple's upcoming iPhone 18 Pro models are part of files posted on the dark web by the ransomware group that stole data from the U.S. firm's Indian supplier Tata Electronics, according to documents and a source.
The exposure threatens the carefully negotiated business of building the iPhone, which Apple assembles from a thicket of suppliers worldwide. It could also upset Apple and its relationship with Tata given most of the supplier arrangements are fiercely protected by Apple, and could also hand rivals, counterfeiters and its own vendors a view of who makes what.
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Tata, which both supplies parts and assembles iPhones as a contract manufacturer, is emerging as one of Apple's most important manufacturing partners outside China, an expansion that is a cornerstone of Prime Minister Narendra Modi's push to make India an electronics manufacturing powerhouse.
Apple is reportedly on track to release its iPhone 18 Pro and Pro Max in September. The leak comes at a difficult time for Apple, which last week raised iPad and MacBook prices due to soaring memory and storage chip costs, with analysts expecting Apple to increase iPhone prices in the coming months.
Reuters has previously reported the Tata Electronics leak of more than 200,000 files on the dark web by World Leaks had files with purported component design papers of older iPhones and some parts of Tesla - both Tata clients. They also included documents of Taiwan Semiconductor Manufacturing Co (2330.TW), opens new tab and Qualcomm (QCOM.O), opens new tab, both of which make parts used in iPhones.
New documents reviewed by Reuters show there are at least six files that map many components in the iPhone 18 Pro models to the specific company that supplies them. These include details of chips on its main circuit board and parts of the battery and cameras.
Apple considers this detail sensitive and is concerned about the documents being shared on the dark web as they relate to unreleased models, according to the person familiar with the matter. The data maps suppliers to iPhone parts, which Apple does not disclose in its public database of suppliers, the person added.
In all, the documents detail hundreds of parts to be on the upcoming iPhone 18 Pro models.
The records also show where Apple draws a part from several suppliers and where it relies on just a few, laying bare both its bargaining leverage and its vulnerabilities.
Spokespeople for Apple and Tata did not respond to Reuters queries.
World Leaks has previously claimed responsibility for a Nike break-in. Reuters has not verified the authenticity of the data and could not immediately reach World Leaks for comment.
News website AppleInsider first reported last week that iPhone 18 Pro documents were part of the Tata leak.
Reuters has previously reported that Apple is investigating the matter and working with Tata on long-term measures. Tata has restricted internal access to sensitive systems as it investigates the leak, and hired a global consultant to conduct a forensic audit.
DROP-TEST IMAGESSeveral of the leaked files carried Apple "confidential" watermarks and internal Apple code-names consistent with the iPhone 18 Pro generation, according to the source familiar with the matter.
Inside the folder for iPhone 18 Pro files are photographs of iPhones undergoing drop tests at one of Tata's plants, dated early 2026. They depicted a conventional slab-shaped, grey handset with a three-rear-camera setup and the Apple logo.
Reuters could not with certainty identify the model number of the phone, but the source said the photos are of iPhone 18 Pro models.
For Apple and Tata, the breach cuts at the trust underpinning their partnership. Apple's move into India rests on its newest major assembler Tata, just as the company increasingly diversifies beyond China.
The bet has fast paid off: India is on track to make 26% of the world's iPhones in 2026, up from 6% four years ago, according to Counterpoint, a research firm.
Reporting by Munsif Vengattil, Aditya Kalra, and Stephen Nellis; Editing by Nick Zieminski
Our Standards: The Thomson Reuters Trust Principles., opens new tab
Based in Bengaluru, Munsif Vengattil leads Reuters' technology news coverage in India. He tracks themes at the intersection of tech, business, and labor. A reporter for nine years, Munsif has written extensively on India's electronics manufacturing aspirations and its tech policy space, AI and election interference, satellite internet, streaming wars, and data breaches. His stories also focus on investigating corporate strategies and revealing India-specific initiatives and challenges of the biggest of tech firms - from Apple, Facebook, and Google, to Foxconn, Samsung, and Nvidia.
Aditya Kalra is the Company News Editor for Reuters in India, overseeing business coverage and reporting stories on some of the world's biggest companies. He joined Reuters in 2008 and has in recent years written stories on challenges and strategies of a wide array of companies -- from Amazon, Google and Walmart to Xiaomi, Starbucks and Reliance. He also extensively works on deeply-reported and investigative business stories.
Apple (AAPL 1.31%) finds itself in a tough position. It has avoided the heavy spending associated with artificial intelligence (AI) compute build-outs. Nonetheless, the surging demand for chips from some of its "Magnificent Seven" peers has put pressure on its business. In particular, the price of memory chips has soared over the last year or so. Micron Technology just reported that prices for its DRAM memory chips climbed more than 60% from the previous quarter.
But two recent moves could help mitigate the near-term pressure of higher memory prices on Apple while benefiting patient long-term investors willing to stick with the leading smartphone maker.
Image source: Getty Images.
Apple is leaning into high memory prices While memory chip prices are soaring, Apple's latest software updates are heavily reliant on increased memory capacity for its devices. Apple rebuilt Siri using Alphabet's Gemini large language model (LLM). The new AI features demonstrated at its Worldwide Developers Conference (WWDC) event earlier this month are far from cutting edge, but they take advantage of the personal information and context of your iPhone, providing unique capabilities that leading AI companies can't replicate.
Under the hood, Apple is heavily focused on keeping your private data private. That means running as many queries as possible on the iPhone itself instead of sending the prompt to a remote server for processing. Apple took pains to reduce the memory requirements for on-device AI, but there's only so much it can do while providing the most useful AI features. As a result, the upgraded Siri won't work with many older iPhones.
It might seem counterintuitive to increase memory requirements for its premier software update at a time when memory prices are so high. However, the timing could prove fortuitous for Apple. The new Siri update could help drive many owners of older devices to upgrade this fall with the next iPhone release. And that gives Apple the opportunity to raise the price on the iPhone.
Indeed, Apple just announced price increases for certain MacBook and iPad units. CEO Tim Cook suggested more price hikes could be coming in a recent interview. Apple had held back on price hikes despite increased component costs for several quarters, while its biggest competitors, including Samsung Electronics, raised prices. That may have helped fuel strong iPhone sales over the last few quarters, which are up 22% through the first six months of fiscal 2026.
A price hike will allow Apple to maintain most of its gross margin, while the demand driven by the Siri upgrade should help maintain unit sales. The result should be modest revenue growth with slightly slower profit growth in fiscal 2027, but the long-term potential of the two moves could be significant.
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Thinking long term It's important to note that the memory chip market is extremely cyclical. In times of high demand, prices for memory chips climb considerably higher. However, memory chipmakers eventually add capacity, bringing supply back in line with demand and ultimately leading to lower prices. That is to say, Apple won't be stuck paying the outrageously high prices the market currently demands forever.
On the other hand, consumer prices are much stickier. While Apple has introduced some low-end models to appeal to more budget-conscious consumers, it's rarely lowered the prices of its flagship devices.
As a result, Apple should be able to produce meaningful revenue growth with minimal margin compression in the near future. And while revenue growth might slow in later years, it should drive margin expansion as memory prices decline. The recent moves leverage its strong brand and its position as the leading smartphone manufacturer to maintain steady profit growth over time.
With the stock trading around 32 times forward earnings expectations, some may see it as too expensive for a relatively slow-growing business. But Apple is demonstrating its ability to deliver steady gains without significant capital expenditures, using its massive free cash flow to buy back stock and boost earnings per share. That makes it worth paying a premium price, especially for patient, long-term investors.
SummaryCompaniesAntitrust case is Apple's biggest regulatory headache in IndiaApple asks for investigation findings to be quashedCompany says it is a 'minuscule player' in IndiaIndia watchdog probe found Apple engaged in 'abusive conduct'NEW DELHI, June 29 (Reuters) - Apple has accused Indian antitrust investigators of "copy-pasting" its rivals' claims and failing to properly conduct its own investigation in concluding the U.S. tech giant breached competition laws, calling for the findings to be quashed, regulatory papers reviewed by Reuters showed.
The June 25 Apple (AAPL.O), opens new tab submission, being reported for the first time, marks the sharpest escalation yet in Apple's fight with the Competition Commission of India (CCI), where Tinder-owner Match (MTCH.O), opens new tab and Indian startups are among its opponents.
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In 2024, CCI investigators privately issued a report saying Apple engaged in "abusive conduct" on the apps platform of its iOS operating system, and wrongly mandated the use of its payment system.
Apple has denied the allegations. It said in its submission that it was a "minuscule player" with an under 6% share of India's smartphone market, and the investigation conclusions were built on rivals' claims rather than on the CCI's independent analysis.
Apple said any "forced alterations to Apple's carefully designed App Store could disrupt its integrated business model," and argued against any penalties and behavioural remedies that could force it to change its approach.
"The imposition of remedies would create regulatory uncertainty and could deter investments in India's digital economy," the company added.
The CCI and its head of investigations did not respond to Reuters queries. Apple also did not respond to requests for comment.
Similar arguments by other big companies have failed to sway the CCI. In 2023, Alphabet's (GOOGL.O), opens new tab Google argued in its antitrust case that CCI's order risked stalling its growth, but the company was later forced to make changes to the way it promoted its Android system, which dominates the Indian smartphone market.
Senior officials from the CCI are due to hold a closed-door hearing with all parties in the case on July 21.
'COPY-PASTING' ALLEGATIONSIn its submission, Apple drew up tables to argue the CCI investigation team had not done its own analysis and instead indulged in "copy-pasting" many submissions from opponents in the case such as Match, Walmart's Indian payments app, PhonePe, and Indian rival Paytm.
"The DG (Director General) made no effort whatsoever to independently verify or critically assess these statements, often parroting them verbatim," Apple said.
Match, Paytm and PhonePe did not respond to Reuters requests for comment.
Apple also said the CCI investigation reports "blindly replicated" a graphic on worldwide consumer spending on mobile apps and games from an EU ruling against Apple in 2024, even though India faced different market conditions.
A Reuters review of footnotes of the EU order and Indian investigation report showed both referenced data from Statista, an online research website.
In 2023, Google also argued Indian investigators copied parts of a European ruling. "We have not cut, copy and pasted," CCI said at the time.
WATCHDOG SAYS APPLE STALLING CASEApple is facing antitrust challenges around the world, from Europe to the United States.
The Indian case, however, is progressing at a time when Apple faces many supply chain issues, including a data breach at its Indian contract manufacturer Tata.
The watchdog has accused Apple of stalling the case for more than two years by not submitting responses to the investigation findings and pursuing a parallel challenge to India's antitrust penalty law, which allows for potential fines of up to 10% of company turnover in the previous three years. The CCI has not said which Apple revenues might be considered but any fine could potentially run into millions of dollars.
Apple submissions show it has submitted the "relevant turnover of Apple in India" for fiscal years 2022-24 as required — typically used by the watchdog for penalty calculations.
In the submissions, Apple is also arguing officials failed to grant the tech firm "a single opportunity to record its statements and provide oral evidence" during the probe.
Google was provided several opportunities to defend itself and explain its business model during its Android case, according to the Apple submission.
"While desirable, the CCI's investigation team is under no legal obligation to give an oral hearing if it feels it has conclusive evidence," said Gautam Shahi, an Indian antitrust lawyer at Dua Associates.
"CCI's members will now decide if Apple should have been given that opportunity."
As Apple diversifies iPhone manufacturing beyond China, India is a key market — the country is set to make 26% of the world's iPhones in 2026, up from 6% four years ago, according to Counterpoint Research.
If CCI does consider penalties, Apple said mitigating factors should be considered, including its "unblemished record" and the fact that it has exported iPhones worth $51 billion from India over the past five years.
Reporting by Aditya Kalra; Editing by Kate Mayberry
Our Standards: The Thomson Reuters Trust Principles., opens new tab
Aditya Kalra is the Company News Editor for Reuters in India, overseeing business coverage and reporting stories on some of the world's biggest companies. He joined Reuters in 2008 and has in recent years written stories on challenges and strategies of a wide array of companies -- from Amazon, Google and Walmart to Xiaomi, Starbucks and Reliance. He also extensively works on deeply-reported and investigative business stories.
Apple lobbuje ve Washingtonu, aby mohla nakupovat paměťové čipy od CXMT, protože rostoucí ceny DRAM tlačí na její náklady. Firma už kvůli dražší paměti zdražila některé modely MacBook a iPad, což smazalo zhruba 263 miliard USD z její tržní hodnoty v jediném obchodním dni.
Apple is lobbying the Trump administration for clearance to buy memory chips from Chinese manufacturer CXMT as the artificial intelligence boom pushes up semiconductor costs and strains global supply chains, Financial Times reported on Saturday.
The move underscores how even the world's largest consumer electronics company is scrambling to secure additional sources of memory as demand from AI data centres reshapes the semiconductor market.
The report, citing six people familiar with the matter, said Apple has mounted a lobbying campaign across the White House and other parts of the administration to ease financial pressure from soaring memory chip prices, which recently forced the company to raise prices on several MacBook and iPad models.
According to the report, Apple first approached the Commerce Department more than a month ago and has since expanded its outreach to other administration officials and allies in Washington.
The company is seeking approval to source chips from ChangXin Memory Technologies (CXMT), one of China's leading DRAM manufacturers.
Apple is not currently prohibited from purchasing chips from CXMT or another Chinese memory producer, YMTC.
However, both companies have been placed on the Pentagon's Chinese Military Company blacklist over alleged links to the People's Liberation Army.
The Commerce Department also proposed adding CXMT to its Entity List last year, but the White House reportedly delayed the move while negotiating a trade truce with China.
People familiar with the discussions told the Financial Times that it remains unclear whether Apple will receive any assurances from the administration, particularly that CXMT will not later be added to the Entity List.
The uncertainty reflects broader tensions between Washington's national security priorities and the technology industry's growing dependence on semiconductor supply from Asia.
Last year, President Donald Trump approved Nvidia's sales of advanced H200 chips to China despite opposition from several administration officials.
Apple's lobbying efforts come after the company suffered one of its sharpest market setbacks in years following its decision to raise MacBook and iPad prices because of what it described as "unsustainable" memory costs.
The price increases erased about $263 billion from Apple's market value in a single trading session, its second-largest one-day decline.
Securing CXMT as an additional supplier would help reduce Apple's dependence on existing memory manufacturers at a time when AI infrastructure investment is absorbing a growing share of global DRAM production.
"The memory supply-demand gap will keep widening through 2027. That is the real reason Apple is lobbying the White House to keep CXMT off the Entity List," TF International Securities analyst Ming-Chi Kuo said in a post on X.
The memory supply-demand gap will keep widening through 2027. That is the real reason Apple is lobbying the White House to keep CXMT off the Entity List.
▌Start with my latest industry checks: The pressure on Apple has shifted from soaring memory costs to a widening supply gap.…
— 郭明錤｜Ming-Chi Kuo (@mingchikuo) June 28, 2026 He added that even successful lobbying would not fully resolve the shortage.
"CXMT states in its IPO prospectus that its capacity is far below domestic demand. Given the persistent global memory imbalance, even if Apple's lobbying succeeds and it buys DRAM from CXMT, that would not materially lower costs or fill the supply gap. Still, with the imbalance widening, Apple has every reason to secure an additional source."
Kuo said Apple's approach also differs from its earlier evaluation of YMTC in 2022.
"YMTC was mainly about lowering NAND costs; CXMT is about managing DRAM supply risk," he said.
He also suggested the lobbying effort carries reputational value regardless of the outcome.
"Tim Cook is one of the few tech leaders who can still navigate both Washington and Beijing, so this is better handled before he steps down as CEO. Even if the effort goes nowhere, the media coverage can still leave the market with the impression that Apple tried but was constrained by US policy. That may help ease frustration over price hikes and longer delivery times."
On the other hand, the tech giant's reported interest represents an important endorsement of CXMT's technological progress, regardless of whether Washington ultimately approves purchases, say analysts.
Citi analysts said obtaining permission could prove difficult given the current US political climate.
However, they argued that Apple's consideration of the company as a supplier already marks a shift in how investors view the Chinese memory maker.
"Regardless of whether Apple gets the purchase approval, its consideration of CXMT as a potential supplier shifts market perception of CXMT from a domestic substitution play to a credible global No.4 DRAM maker," Citi said in a research note.
Apple výrazně zdražila řadu zařízení, včetně Maců, iPadů, Vision Pro, HomePodů a produktů Apple TV, o 15 % až více než 30 %. Firma to přičítá dražším paměťovým čipům a jejich nedostatku.
Last week, in an exclusive interview with the Wall Street Journal, outgoing Apple CEO Tim Cook warned that the memory chip crunch made price increases "unavoidable." He also made what seemed like a promise: "We're willing to use our balance sheet to help be a part of the solution."
So much for that. On Thursday, Apple rammed through hefty price increases for many of its popular devices. Macs, iPads, the Vision Pro, HomePods and Apple TV products all saw price hikes ranging from 15% to over 30%. Even budget-friendly models, like the MacBook Neo and refurbished devices, weren't exempt, though iPhones and AirPods were spared for now.
Surging memory costs and tight supplies have shattered any belief that one of the most successful tech giants would shield its customers from the wrath of RAMageddon. It's a pattern that's becoming increasingly common across the consumer electronics industry.
Microsoft, Motorola, Samsung and now Apple have all blamed higher component costs -- driven largely by artificial intelligence data centers hogging all the available RAM -- to jack up price tags for everyday people.
That's not to say that chipflation isn't real. Smartphones rely on DRAM for short-term memory and NAND flash for short-term storage, both of which are also needed for data centers. As these power-hungry AI warehouses face bottlenecks processing larger, high-bandwidth workloads, chipmakers are racing to increase supply, driving prices higher across the industry.
"The unprecedented AI infrastructure growth has changed the semiconductor supply chain, driving insatiable demand," said Neil Shah, vice president of research at the global technology research firm Counterpoint. "The situation is not bound to be better, at least for the next two years."
Are Big Tech profits a mirage? After months of absorbing higher costs for memory and storage chips, which have quadrupled in price since 2025, Apple says it can no longer absorb the costs. "We have never seen a component price increase this much, this quickly," a company representative told CNET via email.
But with Big Tech sitting on some of the largest cash piles in history while reporting consistently strong profit margins, many loyal customers are pissed they're being made to foot the bill. Or maybe millions of Americans don't even notice because they're too busy scraping their paychecks to cover groceries, rent, insurance and utility bills, after years of tariffs and inflation.
On the surface, there's rarely been a better time to be a major technology company. The Magnificent Seven, a moniker for the most dominant companies in the stock market, includes Apple, Microsoft, Alphabet (Google), Amazon, Nvidia, Meta and Tesla. Their massive market capitalizations have masked the otherwise decrepit state of the "regular" economy outside of Wall Street, which feels to most of us like it's running on fumes.
Chipmaker Nvidia has become the world's most valuable company, with a record-breaking valuation of $4.7 trillion. SpaceX's initial public offering, which included AI developer xAI, made Elon Musk the world's first trillionaire (for a week or so, at least). AI developers such as OpenAI, Anthropic and Google have raised millions of dollars in investor funding on the promise that their products will change the world.
Despite not being a major player in the AI gold rush (or perhaps because the company took a more cautious approach to AI spending), Apple maintains industry-leading margins, reporting $112 billion in net income in 2025. For the second quarter of 2026, the company reported 17% revenue growth, beating investor expectations.
Except the financial narrative around AI is starting to shift. As Big Tech sheds trillions to finance ever-larger AI server farms -- and turns to debt markets to get the cash -- it's facing new skepticism. Consumers aren't seeing a clear payoff, and investors want tangible returns. AI is increasingly looking like a gigantic money pit.
Are price hikes really 'unavoidable'?Even though the silicon crunch is real, shifting the burden to consumers is a choice. If any company had the resources to ride out the chip shortage and absorb higher component costs, it's Apple. The Cupertino company's healthy profit margins have helped it weather supply chain disruptions and rocky economic waves better than others, even during the COVID downturn and the subsequent period of peak inflation.
Anshel Sag of Moor Insights told CNET that Apple is simply not impervious to global market forces. Sag said he believes the tech giant held off on price hikes as long as it could, thereby gaining a short-term competitive advantage. But now things have changed.
"We are now so deep (almost a year) into the memory shortage that all attempts to stockpile inventory or anticipate price increases have likely been exhausted, and Apple now has to raise prices," Sag said via email.
The question, then, is whether Apple could have chosen to absorb lower profit margins rather than pass those higher costs on to consumers. Within Silicon Valley, Apple is hardly struggling -- its net profit margin stands at 27%, according to Macrotrends data. That would make these price hikes more of a calculated business decision rather than an economic inevitability.
In a post on X, US Senator Bernie Sanders accused Cook of corporate greed, noting that the company spent $310 billion on stock buybacks, which artificially boost stock prices and benefit company execs and highly invested shareholders.
Corporate greed is Tim Cook, the billionaire Apple CEO, claiming that hiking prices on Apple products by over $200 is "unavoidable" after it made $112 billion in profits last year & spent $310 billion on stock buybacks.
These price hikes aren't unavoidable. They're…
— Sen. Bernie Sanders (@SenSanders) June 25, 2026 Are we subsidizing the AI gold rush? Over the last year, we've seen major tech conglomerates like Google, Microsoft, Meta and Amazon spend huge sums to build massive computer systems for AI. These hyperscalers paid top dollar to secure the available supply of components for their generative AI and large language models, or LLMs -- which then drove up prices across the rest of the tech industry.
Apple, in the meantime, deliberately sat out the massive AI infrastructure spending race. Instead of burning cash on its own AI data centers and cloud warehouses, the company is now integrating Google Gemini models to power its AI-upgraded Siri, while continuing to rely on its own Private Cloud Compute services. At its annual WWDC event earlier this month, Apple made a renewed push into AI, unveiling its overhauled Apple Intelligence offerings.
But Apple's initial restraint didn't protect it from the supply chain fallout. In last week's exclusive interview with Cook, the Wall Street Journal reported that Apple had lost some of its historic buying leverage with suppliers as AI companies secured market share. Now it has to catch up.
Cook, who is set to step down as CEO on Sept. 1, had also implied during the interview that the company could lean on its own cash reserves to secure memory supply, which could have shielded customers from price hikes. CNET asked Apple why it didn't end up tapping its own cash reserves, but did not get a response.
"Apple is between a rock and a hard place with this situation," Sag said. "The memory suppliers have all the leverage, and Apple's investors wouldn't let them eat the cost difference."
That leaves us, the regular folk, subsidizing soaring AI costs, even if we don't use the technology and never asked for it. For years, Apple did fine with a subpar AI virtual assistant while Google pulled ahead. And Siri's shortcomings, long a source of criticism for responses like "I'm sorry, I didn't get that," did little to dent demand for Apple products.
In fact, despite the tech industry's continued push for ubiquitous AI, the tech just isn't enough to entice consumers to switch: Only 11% of smartphone owners would upgrade for new AI features, according to a CNET survey.
Will tech ever be affordable? Even if higher input costs justified some of Apple's recent price increases, the markups go well beyond simply covering expenses. Take the entry-level MacBook Neo, marketed as an affordable option for students, which saw a $100 price jump just months after its launch, despite no meaningful improvements in hardware features or functionality.
As my colleague Matt Elliot pointed out, Apple seems to be using the widely reported memory shortage as a convenient cover to raise the Neo's price. In reality, the company exhausted its initial supply of surplus smartphone processors for its budget laptop and now faces higher production costs for new A18 Pro chips.
While the chip shortage explains some of the pressure on Apple, the company treated it like a blank check. And those massive price hikes could have consequences, including dampening buyer demand, since fewer of us can afford Apple products. Apple could also take a hit to its public image, since rising costs are likely to cement the brand's reputation as "elitist" -- though critics have made that point for years.
Plus, the unprecedented price spike could also freak out investors -- in fact, it already has. After Thursday's price increases, Apple's stock price plunged by over 6%, its worst single-day drop in over a year.
Still, the tech giant is likely to conquer these hurdles without taking a major sales hit, according to Francisco Jeronimo, vice president of client devices at IDC. "Where a price rise can push a budget Android buyer in an emerging market to delay a purchase or drop to a cheaper brand," Jeronimo said, "the typical Apple customer tends to absorb it."
In large part, that's because Apple has unique market power stemming from its loyal customer base. It's developed financial resilience from that retention and a tightly integrated ecosystem. When you own an iPhone, Apple Watch, AirPods and a MacBook, abandoning one of them means disrupting your entire digital lifestyle.
And Apple knows it.
CNET's Katelyn Chedraoui and Blake Stimac contributed to this story.
Apple lobbuje u Trumpovy administrativy za povolení nakupovat paměťové čipy od čínské CXMT, kterou Pentagon zařadil na blacklist. Firma to chce kvůli rostoucím cenám paměťových čipů.
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
June 26 (Reuters) - Apple (AAPL.O), opens new tab is lobbying the Trump administration for clearance to buy memory chips from ChangXin Memory Technologies, a Chinese company the Pentagon has put on a blacklist, the Financial Times reported on Friday.
The iPhone maker has lobbied the White House for approval aimed at easing financial pressure on the company from rising memory chip prices, the newspaper said, citing unnamed sources.
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The White House, Apple and CXMT did not respond to requests for comment from Reuters outside business hours.
The lobbying push underscores the bind facing major U.S. technology companies as soaring memory chip costs collide with Washington's national security restrictions on Chinese chipmakers.
Apple approached the Commerce Department more than a month ago and also engaged other administration officials and allies in Washington, one person told the FT.
CXMT, China's top memory chipmaker, was designated as a Chinese military company by the Defense Department under the Biden administration. The company, among others, was approved by an interagency committee last year for addition to the Commerce Department's Entity List.
U.S. companies cannot ship goods, software and technology to companies on the list without a license, which is likely to be denied.
Apple raised iPad and MacBook prices on Thursday, saying it could no longer shield customers from soaring memory and storage chip costs driven by the AI industry's data center buildout.
Reporting by Disha Mishra in Bengaluru; Editing by Jacqueline Wong and William Mallard
Our Standards: The Thomson Reuters Trust Principles., opens new tab
Apple zakončil obchodování na 275,15 USD, což znamená pokles o 6,12 % a výrazně horší výkon než širší trh. Před výsledky se čeká na EPS 1,88 USD a tržby 108,71 miliardy USD.
Apple (AAPL - Free Report) ended the recent trading session at $275.15, demonstrating a -6.12% change from the preceding day's closing price. This change lagged the S&P 500's 0.01% loss on the day. Meanwhile, the Dow gained 0.14%, and the Nasdaq, a tech-heavy index, lost 0.46%.
Shares of the maker of iPhones, iPads and other products have depreciated by 5.72% over the course of the past month, underperforming the Computer and Technology sector's loss of 2.57%, and the S&P 500's loss of 1.4%.
The investment community will be paying close attention to the earnings performance of Apple in its upcoming release. The company is expected to report EPS of $1.88, up 19.75% from the prior-year quarter. In the meantime, our current consensus estimate forecasts the revenue to be $108.71 billion, indicating a 15.6% growth compared to the corresponding quarter of the prior year.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $8.74 per share and a revenue of $478.03 billion, indicating changes of +17.16% and +14.87%, respectively, from the former year.
Investors might also notice recent changes to analyst estimates for Apple. These recent revisions tend to reflect the evolving nature of short-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the business operations and its ability to generate profits.
Based on our research, we believe these estimate revisions are directly related to near-term stock moves. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. Apple is currently a Zacks Rank #2 (Buy).
In the context of valuation, Apple is at present trading with a Forward P/E ratio of 33.52. This represents a premium compared to its industry average Forward P/E of 22.99.
Investors should also note that AAPL has a PEG ratio of 2.55 right now. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. By the end of yesterday's trading, the Computer - Micro Computers industry had an average PEG ratio of 2.07.
The Computer - Micro Computers industry is part of the Computer and Technology sector. Currently, this industry holds a Zacks Industry Rank of 20, positioning it in the top 9% of all 250+ industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.
Apple (NASDAQ:AAPL | AAPL Price Prediction) became the focal point of a CNBC investment-committee debate after the company raised prices across its Mac, iPad, HomePod, and Vision Pro lines to offset surging memory and storage chip costs. The move sent the stock down 6.2% on Thursday, June 25. Now, some investors are wondering whether this marks a good entry point for the stock.
The Catalyst: A “Hundred-Year Flood” in Memory CEO Tim Cook described the supply backdrop as a “hundred-year flood” for memory and storage costs, with AI data-center demand driving component prices sharply higher. Apple pre-announced Mac price increases of 15-20% and iPad increases of 15-25%, with dollar hikes ranging from $100 to $300 on affected SKUs. iPhone, Apple Watch, and AirPods pricing was left unchanged, though the company flagged the potential for further adjustments.
The Committee’s Split View The segment framed the central risk as “demand destruction,” with the concern being that raising prices could lower consumers’ appetite for new products. One committee member countered that the stock found support near its April low, coinciding with a rising 200-day moving average around $269. That technical reference lines up with Apple’s 200-day SMA at $268.6338 on June 24, 2026, up from roughly $248.28 in early April.
Another panelist offered the bull case directly: “If I’m a trader, I’m standing back, but if I’m an investor, I think it’s a great opportunity,” arguing Apple has more pricing power than any other company in the market. Wedbush maintained an Outperform rating through the drop, viewing the price increases as the first formal pass-through of rising component costs and expressing confidence in Apple’s ability to navigate the “memory storm.”
What the Fundamentals Say In Q2 FY26, Apple posted revenue of $111.18 billion, up 16.6% year over year, with diluted EPS of $2.01 beating the $1.94 consensus, the eighth consecutive EPS beat. Cook called it Apple’s “best March quarter ever,” citing iPhone revenue of $56.99 billion on iPhone 17 demand and record Services revenue of $30.98 billion. The board also authorized a new $100 billion buyback and lifted the dividend 4% to $0.27 per share.
Margins have been expanding faster than the top line. Gross profit grew 22.1% year over year against 16.6% revenue growth, a sign of pricing leverage that supports the “pricing power” argument.
Where Traders and Markets See the Stock Technical indicators help explain why the CNBC panel was divided. As of June 24, 2026, Apple’s 14-day RSI stood at 45.84, putting the stock in neutral territory rather than oversold. Meanwhile, Polymarket traders assigned a 93.6% probability that Apple would finish the week above $270, but only a 45.0% chance it would close above $280, suggesting expectations for further near-term upside remain mixed.
Wall Street is more optimistic over the longer term. The consensus analyst price target is $314.42, supported by 30 Buy ratings, 15 Holds, and just 3 Sells. However, Arthur D. Levinson, Apple’s Chairman of the Board of Directors, sold more than 270,000 shares during May, and recent insider activity has been skewed toward selling rather than buying. However, much of that selling appears to be tied to scheduled vesting and prearranged Rule 10b5-1 trading plans.
What to Watch Next The key question is whether Apple’s higher prices will hurt demand. If Mac and iPad sales remain strong despite the price increases, it would reinforce the company’s pricing power and ease concerns about margin pressure. If demand weakens during the back-to-school and holiday shopping seasons, it would support the argument that higher prices are beginning to discourage buyers.
For now, both sides have evidence to support their case. Apple trades at roughly 36 times earnings, while its 200-day moving average continues to provide an important technical support level. Traders are staying cautious in the near term, while longer-term investors see the recent pullback as a potential buying opportunity.
Apple od roku 2012 odkoupil vlastní akcie za 851 miliard USD a 30. dubna přidal dalších 100 miliard USD na odkupy akcií. Firma se tak blíží hranici 1 bilionu USD v kumulovaných zpětných odkupech.
Investors are certainly familiar with just how profitable Apple (AAPL 5.56%) is. Its reported net income margin in the fiscal 2026 second quarter (ended March 28) was a fantastic 26.6%. Pricing power and brand loyalty help drive bottom-line performance.
This kind of financial strength has allowed the business to take care of its shareholders. To be more specific, there are 850 billion reasons (and counting) why investors love Apple stock.
Image source: The Motley Fool.
Apple started its capital returns program in 2012. Since then, the business has repurchased $851 billion worth of shares, a truly massive figure that exceeds the current market capitalizations of all but 18 publicly traded companies.
On April 30, Apple added $100 billion in capacity for additional stock buybacks. This adds to the $64 billion remaining on its prior authorization. In total, this means it won't be long until Apple eclipses $1 trillion in cumulative share repurchases.
Today's Change
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All else equal, buybacks introduce a tailwind to earnings per share (EPS) because they reduce the number of shares outstanding. In the past decade, Apple's diluted EPS has risen at a compound annual rate of 15.5%. During that time, the diluted outstanding share count shrank by about 33%.
Apple's stock price has soared 1,140% in the last 10 years (as of June 23). Investors should credit some of this performance to the leadership team's capital allocation policy.
Neil Patel has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Apple. The Motley Fool has a disclosure policy.
Apple CEO Tim Cook says the boom in AI data centers has made price hikes "unavoidable". Justin Sullivan/Getty Images It's possible that AI will bring us all kinds of amazing things in the future.
In the present, AI is making things more expensive.
And Apple just showed us how much more expensive: It is raising prices on some of its Macs and iPads by at least 15% and directly attributing the hikes to the AI boom — specifically the buildout of data centers.
"The rapid expansion of AI data centers has created an extraordinary surge in demand for memory and storage," the company said in a statement. "We have never seen a component price increase this much, this quickly."
In real-world terms, that means Apple's entry-level MacBook Air now costs $1,299 — up from $1,099. Its cheapest iPad Air, which cost $599 on Wednesday, now costs $749.
Apple had previewed the price hikes last week, when CEO Tim Cook called them "unavoidable." The company hasn't raised the prices of new iPhones, though we'll see what happens when it introduces new models this fall. Apple's statement says it "need[s] to begin raising prices on a number of products," which suggests these may not be the only increases.
Apple's announcement is important for people who want to buy new computers and tablets. But I think it's much more meaningful than that: It's the first time a giant consumer company has come out and told consumers that prices are going up because of AI.
That feels like an important milestone. That's because so much of the AI debate centers around what people think could happen in the future. If you're an AI optimist, it could help us find new wonder drugs or supercharge new industries. If you're a skeptic, you worry that it will create new bioweapons, or hollow out big swaths of the economy.
But today, in the here and now, Apple is saying things are more expensive because of AI.
That idea has been banging around the tech and financial worlds for some time, as the data center push squeezes on computer chips. That's good for some companies, like chipmakers Micron and SK Hynix, and an issue for just about everyone that needs chips for their products, which is… a lot of companies.
Much of this has been opaque to normal people. Now lots of normal people — even those who aren't in the market for new iPads and MacBooks — are going to hear that AI is making iPads and MacBooks more expensive.
That's the kind of data point that sticks in your head. And it's very hard to dislodge.
The AI industry has plenty of money and influence. But tech usually succeeds by bringing people something new or making something radically cheaper. Now tech says the same stuff you bought yesterday costs much more today.
It's hard to argue your way out of that one.
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Peter Kafka You're currently following this author! Want to unfollow? Unsubscribe via the link in your email.
Peter covers media and technology for Business Insider; previously he has worked at Vox, Recode, AllThingsD, and Forbes. He was also the first hire at Silicon Alley Insider, Business Insider's predecessor.
AI Inflation Data Centers More Apple Tim Cook iPad Policy
SummaryCompaniesAI datacenter demand squeezing memory supply for device makersMacBook Neo's starting price rises to $699 from $599Shares fall, analysts warn rivals may need steeper increasesSAN FRANCISCO, June 25 (Reuters) - Apple (AAPL.O), opens new tab raised iPad and MacBook prices on Thursday, saying it could no longer shield customers from soaring memory and storage chip costs driven by the AI industry's datacenter buildout.
The move does not affect Apple's main cash cow, the iPhone. But it would take starting price of the Neo - its lowest priced laptop aimed at winning marketshare from affordable Windows and Chromebook laptops - from $599 to $699 months after launch.
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The increase shows even the world's most valuable consumer electronics company with supply chain relationships that are the envy of the industry is not immune to a memory price surge that has dulled the outlook for smartphone and PC sales.
Memory makers such as Micron (MU.O), opens new tab have in recent months prioritized orders from AI chipmakers like Nvidia (NVDA.O), opens new tab, helping them earn record profit but leaving little supply for electronics makers that have been forced to increase prices.
"We have never seen a component price increase this much, this quickly," Apple said in a statement. "We have shielded our customers from these increases so far, but we have now reached a point where we need to begin raising prices on a number of products, including today's increases for iPad and Mac."
Apple hiked the price of MacBook Air with 512 gigabytes of storage rose to $1,299 from $1,099, while the MacBook Pro with 1 terabyte of storage rose to $1,999 from $1,699, according to updated prices on its website. The iPad Air with 128 gigabytes of storage rose from $599 to $749, among other changes.
Apple also raised prices for both versions of its HomePod smart speaker and Apple TV set-top box. Shares of the company fell nearly 5%, while rival Dell (DELL.N), opens new tab was down more than 8%.
Rival device makers may have to raise prices even more sharply than Apple, whose deep supplier ties have cushioned it from the full hit, several analysts said.
"The memory environment is tough and remains structurally tough for the foreseeable future," said Ben Bajarin, CEO of technology consulting firm Creative Strategies.
Apple said in April existing inventories had helped it keep its gross margins above Wall Street expectations but that rising memory costs would start to catch up by the end of this month, with profitability expected to fall slightly.
"We expect significantly higher memory costs," CEO Tim Cook said on a conference call with analysts in late April.
"Where we don't give color beyond June, I can tell you that beyond the June quarter, we believe memory costs will drive an increasing impact on our business," Cook had said.
MEMORY SURGE ADDS PRESSURE ON ELECTRONICS MAKERSApple has not disclosed what steps besides price hike it has taken to address rising memory costs. "We know this is not welcome news, and we are working tirelessly to find solutions," the company said on Thursday.
Analysts expect Apple to increase iPhone prices in the coming months and said the latest hike could prompt some potential buyers to advance their purchase decisions.
"The iPhone isn't spared, its hike is coming," said Nabila Popal, a senior research director at IDC. "It was incredibly strategic for Apple to make the price hike announcements prior to the iPhone fall launch, so the headlines at launch is not the price hikes but the value the new phones bring."
Prices of dynamic random access memory, used in virtually all modern tech gadgets, rose as much as 98% in the first quarter of 2026 and is set to jump by another 58% to 63% in the current quarter, according to industry tracker TrendForce.
That surge, dubbed by some experts as "RAMageddon", has been driven by a boom in AI data center construction, with companies like Nvidia signing long-term deals with memory makers who are racing to increase capacity.
Micron said on Wednesday it has locked in $22 billion in such long-term commitments from customers looking to secure their memory supplies.
The rising costs are expected to weigh heavily on device sales this year, with research firm IDC estimating that the smartphone market would see its biggest-ever annual decline of nearly 14% this year while the PC market will fall 11.3%.
Among the notable bright spots has been the MacBook Neo launched in March, which helped power Apple's strong sales forecast for the June quarter and has even led some industry watchers to revise their estimates for PC sales.
With its increased price, it has now lost a $100 advantage over the $699 XPS 13 laptop that Dell unveiled last month especially to take on the Neo, while also making it more expensive than some Chromebooks from Lenovo and Asus.
Reporting by Stephen Nellis in San Francisco and Aditya Soni in Bengaluru; Editing by Arun Koyyur
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Shares of tech giant Apple Inc. NASDAQ: AAPL are trading just under $300 this week, as they continue to bounce off their low from earlier this month and move back towards the all-time high they hit a few weeks ago.
Apple Today
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52-Week Range$199.26▼
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The bull case for the stock has been quietly strengthening despite the wobble that followed the recent Siri AI announcement. The latest piece of news adds another credible reason to think the next leg higher could already be underway.
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It was reported late last week that Apple has agreed to partner with Intel NASDAQ: INTC to design and manufacture some of its chips in the United States. It's a deal that, at first glance, seems to come out of nowhere, given Apple's history of moving away from Intel chips to its own in-house Apple Silicon several years ago.
However, when you start digging into the timing and the broader pressures the company has been navigating, it's hard to see this as anything other than a seriously strategic move. Let's jump in and see why below.
Why the Timing Is So CompellingThe big picture here is that Apple has been quietly grappling with several significant supply chain headaches, and this deal helps to ease them. The main one is memory chip pricing. As we covered recently, surging costs have begun to bite into Apple's margins to the point that Tim Cook has publicly acknowledged that the "situation has become unsustainable" and that "price increases are unavoidable." That's the kind of statement that doesn't get made lightly, particularly by a CEO famous for measured language.
Layered on top of that is Apple's longstanding overdependence on Taiwan Semiconductor Manufacturing Company NYSE: TSM for its most advanced chips. TSMC's production lines are in extraordinary demand from AI chipmakers like NVIDIA NASDAQ: NVDA and Advanced Micro Devices NASDAQ: AMD, which have steadily pushed up costs and intensified the risk of bottlenecks for everyone who relies on the foundry.
The Right Deal at the Right TimeApple has been chasing a more diversified manufacturing footprint for years, with expansion into Vietnam, India, and the US, but a deal of this scale with Intel takes that effort to a whole new level.
The team at Wedbush put it well, noting that "this is the right time to do this deal with Apple looking to diversify its manufacturing footprint" while demand for advanced chips continues to climb. Coming as it does just ahead of what's expected to be a multi-year AI-driven device cycle, the deal effectively locks in domestic capacity right as Apple's AI ambitions begin to take shape.
A Political Tailwind That's Hard to IgnoreThe other reason this deal looks so well-timed is the wider political backdrop. The US administration has made it a stated priority to bring semiconductor manufacturing back to American soil, and Intel has emerged as the central beneficiary of that policy. Apple's agreement to partner with Intel on domestic production, therefore, brings the company directly into alignment with that political direction of travel.
For a multinational of Apple's scale, that's a strategic move on multiple levels. As we've seen with other big tech names in recent months, being on the wrong side of US trade and manufacturing policy can quickly turn into a sustained headwind.
By proactively committing to domestic chip production, Apple has essentially insulated itself from a chunk of that risk in one move, while also strengthening its standing as one of the largest investors in US manufacturing.
How This Supports Higher PricesOverall MarketRank™91st Percentile
Analyst RatingModerate Buy
Upside/Downside5.6% Upside
Short Interest LevelHealthy
Dividend StrengthStrong
News Sentiment0.88 Insider TradingSelling Shares
Proj. Earnings Growth9.50%
See Full Analysis
There's a third reason this deal is being received so well: it lays the groundwork for Apple to potentially raise prices on its core products with significantly less risk. With Tim Cook already flagging that price hikes are coming, likely in September alongside the new iPhone lineup, the Intel partnership gives Apple a credible story to tell consumers and shareholders about why those higher prices are sustainable.
Wedbush analyst Dan Ives said Apple is in a strong position to raise prices without sacrificing hardware performance or increasing customer churn, citing the company’s growing focus on higher-end consumers. That bullish view is also reflected in Apple’s Moderate Buy consensus rating, which suggests Wall Street remains constructive despite the stock’s recent wobble. For investors, that’s close to the dream scenario, and one that few companies could deliver at Apple’s scale.
The Bigger Picture for the StockWith Apple now firmly in motion on its AI strategy, the Intel partnership cementing a more resilient supply chain, and the broader political winds at its back, the company is going into the second half of the year with arguably its strongest setup in a long time.
And while the price action at the start of June briefly suggested otherwise, the underlying picture is becoming more optimistic by the day.
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Britský tribunál schválil žalobu v hodnotě 3 miliard GBP proti Apple kvůli iCloudu, kterou může podpořit téměř 40 milionů uživatelů ve Spojeném království. Žaloba tvrdí, že firma zneužila dominantní postavení.
FILE PHOTO: 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
SummaryCompaniesNearly 40 million iCloud UK users to be included in class actionLawsuit covers a period of seven years from 2018Consumer group Which? to represent the millions of Apple usersLONDON, June 23 (Reuters) - Britain's competition tribunal has approved a £3 billion ($4 billion) lawsuit against Apple (AAPL.O), opens new tab over its iCloud storage service, consumer group Which? said on Tuesday, clearing the way for tens of millions of consumers to join a collective action.
The Competition Appeal Tribunal granted earlier in June a collective proceedings order allowing Which? to represent Apple users, after rejecting an attempt by the U.S. tech giant to block parts of the case.
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Which? filed the claim in November 2024 and argues Apple abused a dominant position by "trapping" users of iPhones and other devices into its iCloud storage service, limiting their ability to switch to rival cloud providers.
The consumer group says Apple did this by technically restricting how certain files can be stored, tying iCloud to iOS devices and using prompts and system design to steer users towards its own service, weakening competition and driving up prices.
"Which? wants to make clear that no company, no matter how powerful, can get away with abusing its position," Which? Chief Executive Anabel Hoult said in a statement.
In response to a request for comment, Apple said the claims were unfounded.
"We work hard to make iCloud a great experience, but no customer is required to use it and customers in the UK have plenty of alternatives to choose from," it said in an emailed statement.
The case is being brought on behalf of nearly 40 million UK iCloud users who used the service between November 2018 and June 2026. Which? estimates total damages at around £3 billion, with potential payouts of up to £77 per person of the claim succeed.
A trial is expected in 2028.
($1 = 0.7563 pounds)
Reporting by Sam Tabahriti; Editing by Mark Potter and Susan Fenton
Our Standards: The Thomson Reuters Trust Principles., opens new tab
Apple může v Intelu vyrábět čipy, ale první kusy by podle analytiků přišly až za 2 až 3 roky. Nejpravděpodobněji by začal méně důležitými komponenty pro MacBook Air nebo některé iPady Pro.
SummaryCompaniesAdvanced Intel chips can take 2-3 years to make, analysts sayApple may test Intel with lower-end products firstAnalysts split on which manufacturing process Apple will chooseJune 24 (Reuters) - Apple turning to Intel for chips, as Washington announced last week, has the neat logic of necessity meeting ambition. But it is not that simple, as analysts say any advanced Intel chip will take two to three years to make and even longer to translate into gains due to the long and exacting production process.
A deal - which neither company has formally announced - would pair Intel's effort to rebuild its credibility as a contract chipmaker with Apple's search for more manufacturing capacity, as its supplier TSMC (2330.TW), opens new tab struggles to meet surging AI chip demand from the likes of Nvidia (NVDA.O), opens new tab.
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Supply constraints at the contract manufacturer have held back iPhone sales, Apple CEO Tim Cook said in April.
Baked into this deal is a strategic calculation. Intel has emerged as a key pillar in the U.S. plan to rebuild domestic chipmaking through tariffs and incentives, thanks to its 10% stake in the company and a $5 billion investment from Nvidia at the behest of President Donald Trump.
"The absolute best possible case would be 2-3 years before the first chips flowed off the line. It takes 2 years to design an SoC (system on chip) of this complexity, and a further 4 months through production cycle time to volume ramp up," said Malcolm Penn, CEO of chip research firm Future Horizons.
This assessment assumes Intel's technology is fully worked out and its design tools are reliable enough for Apple to depend on, Penn said. "With no track record, that's a huge leap of faith and commercial and financial risk," said Penn, who termed the deal "a shotgun wedding".
FIRST TESLA, NOW APPLEAfter missing out on the early stages of the AI boom, Intel has begun to show tentative progress, landing Tesla TSLA.O as a customer in April and positioning itself for a more consequential partnership with Apple.
Analysts are divided on which Intel manufacturing process Apple will choose.
Some see it following Tesla onto Intel's next-generation 14A, a process years away from volume production but built on the world's most advanced chipmaking tools.
Others expect Apple to sacrifice cutting-edge gains for reliability, favoring 18A-P, a refined version of Intel's most advanced process that began initial production this month - or an older, reliable node like Intel 3.
"Apple would probably want to use Intel's 14A process technology... and that's expected to be available in 2028 or 2029 so it's still going to be a while," said Bob O'Donnell, an analyst at TECHnalysis Research.
"However, if it proves to be true, it's an extremely important development for Intel's foundry business and US-based semiconductor manufacturing in general."
Daniel Newman, CEO of tech research firm Futurum Group, said volume production of Apple-designed chips was unlikely until late 2027 or early 2028, with the initial work focused on less critical components used in MacBook Air or some iPad Pro models.
INTEL HAS FACED POOR CHIP YIELDSApple may even hedge, testing Intel with lower-end products before committing its most critical chips, analysts said.
Intel, which has historically faced issues with the timeline and quality of its chips, will have to meet Apple's high expectations for yield, a standard that the world's largest consumer electronics company has come to expect from TSMC. Yield is the percentage of chips on a silicon wafer that work correctly when manufacturing is done.
"Investors are pricing in perfect execution by Intel, which is a company that hasn't delivered for about 20 years. Granted, it looks like Intel has made strides with its latest manufacturing process, but I think we should all at least modestly discount a perfect outcome," said Paul Meeks, head of tech research at Freedom Capital Markets and an Intel investor.
Reporting by Zaheer Kachwala and Anhata Rooprai in Bengaluru; Editing by Sayantani Ghosh and Arun Koyyur
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