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SummaryApple exhibits strong financials, but recent revenue growth is driven by a one-time hardware upgrade cycle, not sustainable innovation.AAPL's premium valuation is unjustified given its mature business model, static product matrix, and lack of major CAPEX in AI infrastructure.Risks of technological lag and margin compression loom as competitors invest heavily in AI, while AAPL relies on monetizing its existing user base.I rate AAPL a SELL due to overvaluation, lack of growth catalysts, and a fundamental mismatch between its business trajectory and current multiples. arosoft/iStock via Getty Images

The financial indicators of Apple (AAPL) look highly confident at first glance, especially following the just-released Q3 results. The company reported a strong June quarter with revenue hitting $109.4 billion, which represents a 16% YoY increase, while

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Revenue: $109.4 billion, up 16% year-over-year, a June quarter record.iPhone Revenue: $54.3 billion, up 22% year-over-year, a June quarter record.Mac Revenue: $

Apple has warned it is seeking alternative memory chip suppliers as "very significant" constraints threaten future sales of its key devices.

Shares in the world's most valuable listed company fell by more than 5% in US after-hours trading last night when the maker of the iPhone, MacBook and iPad's forecasts for revenue growth came in weaker than expected.

Chief executive Tim Cook admitted that well publicised bottlenecks in advanced chips meant it was struggling to get the parts needed to deliver products.

"We're seeing some very significant (supply) constraints currently with limited flexibility in the supply chain to remedy it," he told a call with analysts.

Money latest: An airline's plea to PM that could make flights cheaper

Apple expected revenue growth of 9% to 11% in the current quarter, compared with a year earlier.

That was less than the 12% ‌rise predicted by Wall Street, according to London Stock Exchange Group data.

iPhone sales revenue was expected to grow at a mid-teens rate, compared with the market's target of 17.6%.

Apple and the technology industry generally have been scrambling to meet demand for new products, especially those with high-end processors and memory.

Image: Tim Cook is due to step down on 1 September. File pic: Reuters In an interview with the Reuters news agency, Cook ​said the main supply constraint was an industry shortage of advanced chipmaking technology used to produce the Apple silicon chips at the heart of its devices, particularly for the Mac lineup.

"If you look at the root ​causes... it's that we're having an incredibly strong product cycle beyond our expectations, and the (advanced chipmaking) supply chain just fundamentally has less flexibility in it to ⁠meet the high levels of demand," he said.

Britain's AI future depends on chips it doesn't control

Apple's latest results largely met expectations, including a 21.7% hike in iPhone sales to $54.3bn (£40.3bn) between April and June.

That amounted to a new record for the company's third quarter.

Analysts largely expect Apple to raise its iPhone prices in the months ahead, citing pressures from the chip shortage.

Macs and iPads have already seen increases.

The price rises are worrying some market commentators, while investors are also preparing for a change of leadership.

It was Cook's final earnings appearance before his retirement after 15 years at the helm of the company.

John Ternus, Apple's head of hardware engineering, will assume the CEO role on 1 September.

Apple, which recently topped Nvidia as the most valuable listed company, has been largely spared the volatility in share price seen by chipmakers and big spenders on artificial intelligence.

Apple continues to generate cash without the huge investment spending that its Wall St peers are dealing with "and that showed across most parts of the operation," said Thomas Monteiro, an analyst at Investing.com.

"As the market grows more worried about free cash flow trajectories elsewhere in Big Tech, Apple keeps standing out as the safe haven in the storm," he concluded.

Apple Inc. (AAPL) Q3 2026 Earnings Call July 30, 2026 5:00 PM EDT

Company Participants

Suhasini Chandramouli - Director of Investor Relations
Timothy Cook - CEO & Director
Kevan Parekh - Senior VP & CFO
John Ternus - Senior Vice President of Hardware Engineering

Conference Call Participants

Amit Daryanani - Evercore ISI Institutional Equities, Research Division
Michael Ng - Goldman Sachs Group, Inc., Research Division
Benjamin Reitzes - Melius Research LLC
Erik Woodring - Morgan Stanley, Research Division
Aaron Rakers - Wells Fargo Securities, LLC, Research Division
Wamsi Mohan - BofA Securities, Research Division
Samik Chatterjee - JPMorgan Chase & Co, Research Division

Presentation

Suhasini Chandramouli
Director of Investor Relations

Good afternoon, and welcome to the Apple Q3 Fiscal Year 2026 Earnings Conference Call. My name is Suhasini Chandramouli, Director of Investor Relations. Today's call is being recorded.

Speaking first today is Apple's CEO, Tim Cook; followed by CFO, Kevan Parekh. Also joining us on today's call is incoming CEO, John Ternus. After the prepared remarks, we'll open the call to questions from analysts.

Please note that some of the information you'll hear during our discussion today will consist of forward-looking statements, including, without limitation, those regarding revenue, gross margin, operating expenses, other income and expense, taxes and future business outlook. These statements involve risks and uncertainties that may cause actual results or trends to differ materially from our forecast including risks related to the potential impact to the company's business and results of operations from macroeconomic conditions, tariffs and other measures and legal and regulatory proceedings.

For more information, please refer to the risk factors discussed in Apple's most recently filed reports on Form 10-Q and Form 10-K and the Form 8-K filed with the SEC today, along with the associated press release. Additional information will also be in our report on Form 10-Q for the quarter ended June 27, 2026, to

Apple CEO Tim Cook had a lot to talk about on his last earnings call as CEO, as his company's stock price trended lower on concerns about supply constraints. Regardless of the selloff, he told investors that Apple has "enormous opportunities" in artificial intelligence.

Cook, who will be assuming the role of executive chairman on Sept. 1, said Apple's hybrid approach to AI, where some workloads can be run on iPhones and Macs is an advantage as his large tech peers rely on their massive clouds.

It's an important signal to Wall Street about the company's ability to run AI apps as Apple gears up for the launch of an updated Siri this fall.

"The ability to run some percentage of requests on device is also very strategic and sort of a competitive weapon," Cook said.

Apple has bucked its hyperscaler peers by spending significantly less on capital expenditures as it tries to be a player in AI. Most of the spending across the industry is going towards Nvidia-based data centers to run advanced AI models from companies like OpenAI and Anthropic.

Alphabet, Amazon, Meta and Microsoft have each committed to shelling out well over $100 billion in capex this year. In the June quarter, Apple's capex amounted to $2.46 billion, lower than a StreetAccount estimate of $3.44 billion. Cook noted that operating expenses are going up.

"We have been growing our opex and spending more in AI in general," Cook said.

Instead of spending heavily on data centers, Apple emphasizes that much of its AI suite — Apple Intelligence — can be run on the devices themselves, using the full power of Apple's chips and not radioing to the cloud.

Apple says it can do more in AI, potentially saving money for businesses that are spending heavily on AI software. He gave the example of Disney, where "creative teams are increasingly turning to Mac for on-device AI workflows that reduce overall cloud token costs and keep their IP secure," Cook said.

Apple's hybrid strategy will be tested when Siri AI is finally released to the public. The highly anticipated launch of Apple's personal assistant will depend on the iPhone's processor to decipher queries and use the appropriate on-device AI model.

However, there are tradeoffs in terms of what the local models can do. So for complicated AI tasks, Apple will use Google Cloud to serve those answers with infrastructure based on Nvidia's graphics processing units and Intel's central processors. Those tasks include things like image generation, Apple said in June, when it revealed the software.

Apple signaled at the time that it would cap users on its cloud models and that they might be able to increase their limits through iCloud. That would offer Apple a new way to monetize AI.

Cook said on Thursday that Apple didn't have a "complete plan" for charging users, but that it aims to use AI as a selling point for iCloud subscriptions.

"We do believe there will be people that want to use it a lot, and so we will have some kind of upgrade possibilities on on iCloud+," Cook said.

watch now

By PYMNTS  |  July 30, 2026

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Highlights

Apple reported record June-quarter revenue of $109.4 billion, but analysts focused less on the numbers than on how AI will generate long-term growth.

Services reached a record $30.7 billion, payment services set an all-time high, and paid subscriptions topped 1.5 billion, reinforcing Services as Apple's fastest-growing recurring business.

Apple's weaker September outlook reflected foreign exchange and worsening supply constraints rather than slowing demand, management said.

Apple’s final earnings call under Tim Cook looked, on its surface, like another quarter of record financial results. Revenue rose 16% year over year to $109.4 billion, iPhone revenue climbed 22% to $54.3 billion, Mac revenue increased 29% to $10.4 billion, and Services reached another record at $30.7 billion despite foreign-exchange headwinds.

But during the call Thursday evening, as the stock dropped 6%, analysts pressed management on Siri AI, subscription economics, cloud-computing costs, Services growth and the durability of Apple’s hardware demand.

The trading action, it seems, indicates that investors want to know how the tech giant’s artificial intelligence strategy becomes a business, as supply constraints offer some near-term headwinds.

Cook opened the call by emphasizing both demand and Apple’s AI roadmap. He said Apple Intelligence, including the new Siri AI, is “profoundly capable, deeply personal, and integrated seamlessly across our platforms,” adding that early developer and public-beta feedback has been “phenomenal.” He argued Apple’s focus on private, context-aware AI will “change how users find information and get things done with our products.”

The company tied that strategy directly to hardware. Apple continues to present AI as another capability that strengthens the appeal of the iPhone, Mac and the broader ecosystem. Analysts asked whether AI could become a meaningful driver of holiday iPhone demand and whether Apple ultimately expects AI users to generate additional subscription revenue.

Cook stopped short of announcing a dedicated AI pricing model, but he acknowledged heavier users could migrate to higher service tiers.

“We do believe there will be people that want to use it a lot, and so we will have some kind of upgrade possibilities on iCloud Plus where people can buy up the stack on iCloud+,” Cook said. Apple has historically absorbed new software capabilities into its hardware ecosystem rather than charging separately for them. Cook’s comments suggest Siri AI could instead expand the company’s already-growing subscription business.

Chief Financial Officer Kevan Parekh noted on the call that Services revenue increased 12% to $30.7 billion, while cloud services and payment services reached all-time highs. Apple has now surpassed 1.5 billion paid subscriptions, while both paid and transacting accounts reached record levels.

Payments also continued to become a larger part of that ecosystem. During the quarter Apple introduced Apple Upgrade, a new hardware leasing program launched with Klarna, and said new Apple Cash capabilities, including bill splitting using Visual Intelligence, are planned for later this year. Management said that Apple Pay reached a record number of users in both developed and emerging markets despite foreign-exchange pressure, App Store changes and weaker mobile gaming activity.

Supply Constraints, Pricing and the Transition to Ternus Apple guided to 9% to 11% revenue growth for the September quarter, a noticeable slowdown from the June quarter’s 16% increase. Executives said the outlook reflects two issues rather than weaker customer demand: a roughly 2.5 percentage-point foreign exchange headwind and significantly tighter supply constraints affecting the iPhone, Mac and iPad.

“During the June quarter, we did experience supply constraints … driven by very high levels of demand,” Cook said. Looking ahead, he added, “We continue to expect high levels of demand. However … we expect the impact from the supply constraints to increase significantly.”

Component pricing, particularly memory, emerged as another recurring theme.

Cook acknowledged that Apple has absorbed successive increases in memory costs for three consecutive quarters and expects those costs to rise again in September. The company has offset some of that pressure through inventory, lower costs for other components and supply-chain management, but he suggested those offsets may become more difficult over time.

“We reluctantly raised prices,” Cook noted during the call. “We did it because we’re in what I would characterize as a hundred-year flood on the memory pricing with exponential increases in memory prices.”

Parekh later reinforced that point, saying memory inflation accounted for essentially all of the sequential gross-margin decline after adjusting for tariff refunds, while foreign exchange played only a limited role.

The call also provided Apple’s clearest comments yet on how AI could affect the company’s cost structure.

Analysts asked whether Siri AI would make Apple a more capital-intensive company as more AI requests move between on-device processing, Apple’s own infrastructure and third-party cloud providers.

Cook said Apple will continue using a hybrid approach while increasing AI spending across research, operating expenses and infrastructure.

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SummaryApple Inc. delivered fiscal Q3 revenues and EPS growth above rising street estimates.AAPL shares pulled back initially, as a large tariff benefit generated most of the bottom line beat.The company trades at a sizable premium to its large cap tech peers, but it doesn't have the strongest growth profile. Organic Media/iStock via Getty Images

After the bell on Thursday, we received fiscal third quarter results from Apple Inc. (AAPL). The technology giant had seen its shares rally to a new high recently at a more than $5

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CUPERTINO, Calif. – Apple delivered its strongest June quarter on record, reporting $109.4 billion in revenue and beating analysts' estimates of $108.65 billion in the company's final earnings report before CEO Tim Cook steps down.

A 22% jump in iPhone sales, combined with record spring quarter Mac revenue, helped drive the results. Tariff refunds also boosted Apple's bottom line, adding roughly 5% to profit during the period.

But the earnings numbers were only part of the story. In an interview following the report, Cook addressed Apple's approach to open-source artificial intelligence, the state of U.S.-China relations, rapidly rising memory chip costs and the legacy he leaves after 15 years at the helm.

APPLE CHIEF TIM COOK SAYS IT WAS THE 'RIGHT TIME' TO STEP DOWN AS CEO

Apple CEO Tim Cook delivers the keynote address during the Apple WWDC at Apple Park June 8, 2026, in Cupertino, Calif. (Justin Sullivan/Getty Images)

Cook said he has "nothing negative" to say about open-source AI models, adding "they are useful." His comments come as the technology industry debates whether the most powerful AI systems should remain proprietary or be made more broadly available to developers.

That debate has intensified after Chinese AI company Moonshot launched Kimi K3, a new model that has drawn attention for performance that rivals some of the most powerful systems from Anthropic and OpenAI. Apple, meanwhile, is preparing to launch its long-awaited AI-powered Siri this fall using Google's Gemini.

Cook's comments suggest Apple intends to remain pragmatic rather than ideological in choosing the models that power its products. The company has traditionally exercised tight control over its hardware and software ecosystem, but the fast-moving AI market may require it to draw on a wider range of outside technologies.

WHO IS JOHN TERNUS, SET TO SUCCEED TIM TOOK AS APPLE’S CEO?

China remains another critical part of Apple's AI strategy and its broader business.

Apple employees help customers at the Fifth Avenue Apple Store on new product launch day Sept. 19, 2025, in New York City. (Michael M. Santiago/Getty Images)

"In terms of the U.S.-China relationship, I was over in April for the state dinner, and I think the engagement between the countries is really good, and I've got a favorable view. And I'm very optimistic at this point about where the relationship is," Cook said.

Apple Intelligence has finally been approved in China after a delay of nearly two years compared with its U.S. launch. The approval could help Apple compete more effectively in one of its largest markets, where domestic smartphone makers have moved quickly to add generative AI features.

Apple's China sales rose 22% during the spring quarter to $18.81 billion. Even with that sharp increase, revenue still fell short of analysts' estimates of more than $19.5 billion in Apple's third-largest market.

Tariff refunds provided another lift to the quarter. Cook said Apple is directing that money back into domestic production.

APPLE TO LEASE IPHONES, OTHER PRODUCTS TO USERS THROUGH KLARNA PARTNERSHIP

"We're taking our tariff refunds and reinvesting those in the United States' advanced manufacturing," he said.

Apple has already committed to spending $600 billion over four years on the U.S. economy. The reinvestment gives the company a way to frame the refunds not simply as a temporary earnings benefit, but as additional support for its long-term manufacturing strategy.

At the same time, Apple is contending with a sharp increase in the cost of memory chips. The company recently raised prices on some Mac computers and iPads by as much as $300 as memory chip prices soared by as much as 600% over the past two years.

"As I'd mentioned on the call last time around, the memory costs were higher in March than December quarter, and then in June they were significantly higher than in the March quarter," Cook said.

Ticker Security Last Change Change % AAPL APPLE INC. 333.43 -4.76 -1.41% Those higher costs are arriving just as artificial intelligence is driving demand for more computing power and memory. Despite the price increases on some devices, Cook said Apple's new, lower-priced MacBook Neo, which starts at $699, was the company's bestselling computer in the United States during its first full quarter on the market.

Demand for Apple's higher-powered Mac Studio computers has also surged, creating supply shortages and helping push Mac revenue above $10 billion for a new spring-quarter record.

Cook will step down as chief executive on Sept. 1 after leading Apple for 15 years. He will remain chairman, while Apple's hardware engineering chief, John Ternus, takes over as CEO.

Cook became chief executive in 2011, succeeding Apple co-founder Steve Jobs. Since then, Apple's market value has increased by more than 1,000%. This week, the company became only the second corporation to surpass $5 trillion in market value, briefly overtaking Nvidia to reclaim the title of the world's most valuable company.

Apple's CEO Tim Cook attends the premiere of Season 4 of the Apple TV series "Ted Lasso" at the Academy Museum in Los Angeles July 27, 2026. (David Swanson/Reuters / Reuters)

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Reflecting on his tenure, Cook said, "I've had an incredible opportunity to work with people that I love to work with ... and it's just been the privilege of a lifetime."

Asked how he wants to be remembered, Cook demurred.

"How people will write about that will be theirs to decide," he said. "But for me, it's been a privilege."

Cook arrived in the top job facing doubts that a supply chain expert could preserve the product vision and culture associated with Jobs. Fifteen years later, he leaves behind a company operating at a scale few could have imagined in 2011 and one now entering a new era defined by artificial intelligence, geopolitical competition and the challenge of sustaining growth from the world's most valuable consumer technology franchise.

Apple says it has now topped 1.5 billion subscribers for its services business, up from 1 billion in January 2025. However, this segment of Apple’s business, which includes the Apple Store, AppleCare, music, video, and cloud services, was the only miss in what was otherwise a record-breaking quarter for the company’s hardware sales.

In Apple’s fiscal third quarter, the company reported $30.74 billion in services revenue, falling short of the $31.22 billion Wall Street analysts had expected. Combined with a miss in China, Apple’s stock tumbled over 4% in after-hours trading.

When asked to dive into what led to the decline in services revenue, Apple CFO Kevan Parekh pointed to several factors. Most notable, however, were the impacts on Apple’s cash cow, the App Store.

One factor contributing to the App Store’s performance in the quarter was a slowdown in mobile gaming. It also called out the App Store business model changes in certain countries, including the U.S.

The latter is a reference to Apple being under a court order that requires it to now allow app developers to process customer payments outside the App Store — and outside the reach of Apple’s commission. While Apple didn’t say to what extent this specific issue had impacted App Store revenue, it did remind investors that the matter will be heard by the Supreme Court for a final decision.

The company didn’t fully blame App Store issues for the services revenue miss. Other factors included foreign exchange, which Apple claimed was the main driver, as well as a comparison to prior quarters where Apple was raking in money from the success of its “F1” theatrical release.

Overall, the App Store still set a June quarter revenue record, Apple noted, but that total figure also includes revenue from Apple Ads, which have become a more significant part of Apple’s business, and recently expanded to Apple Maps.

Despite these issues — and other “headwinds” attributed to foreign exchange rates — Apple touted the potential for growing its services business in the future.

It noted the segment set an all-time revenue record in developed markets and a June quarter record in emerging markets. It also said the total services business saw double-digit revenue in the “vast majority” of markets Apple tracks.

“Our services continue to attract more customers, and we have now surpassed one and a half billion in paid subscriptions. Both transacting and paid accounts reached new all-time highs in the quarter, with double-digit growth for both in emerging markets,” said Parekh.

The company also shared that specific segments were doing particularly well, including Apple Ads, App Store, AppleCare, Apple Music, and Apple TV, which saw June quarter records, as well as cloud and payment services, which hit all-time highs. Apple TV additionally saw its viewership reach an all-time high in the quarter.

Apple also reminded investors of potential new services revenue streams, including the newer Creator Studio subscriptions and the upcoming bill-splitting features in Apple Cash, which could deepen customers’ engagement with Apple’s payments ecosystem.

This week’s launch of the Apple Upgrade program, in partnership with Klarna, could drive other increases in services revenue too, especially if it drives more people to buy an iPhone or other Apple device, adding services to their bill.

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For the quarter ended June 2026, Apple (AAPL - Free Report) reported revenue of $109.42 billion, up 16.4% over the same period last year. EPS came in at $1.91, compared to $1.57 in the year-ago quarter.

The reported revenue compares to the Zacks Consensus Estimate of $108.75 billion, representing a surprise of +0.62%. The company delivered an EPS surprise of +1.6%, with the consensus EPS estimate being $1.88.

While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.

As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.

Here is how Apple performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:

Net Sales by Category- Wearables, Home and Accessories: $7.88 billion compared to the $7.81 billion average estimate based on seven analysts. The reported number represents a change of +6.5% year over year.Net Sales by Category- iPhone: $54.25 billion versus the seven-analyst average estimate of $53.97 billion. The reported number represents a year-over-year change of +21.7%.Net Sales- Services: $30.74 billion versus the seven-analyst average estimate of $31.38 billion. The reported number represents a year-over-year change of +12.1%.Net Sales by Category- Mac: $10.35 billion versus the seven-analyst average estimate of $8.67 billion. The reported number represents a year-over-year change of +28.7%.Net Sales- Products: $78.68 billion versus $77.36 billion estimated by seven analysts on average. Compared to the year-ago quarter, this number represents a +18.1% change.Net Sales by Category- iPad: $6.19 billion versus the seven-analyst average estimate of $6.92 billion. The reported number represents a year-over-year change of -5.9%.Gross margin- Services: $23.25 billion compared to the $24.04 billion average estimate based on six analysts.Gross margin- Products: $31.53 billion compared to the $28.09 billion average estimate based on six analysts.View all Key Company Metrics for Apple here>>>

Shares of Apple have returned +14.9% over the past month versus the Zacks S&P 500 composite's -1.5% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.

Amazon’s Satellite Push Raises the Stakes for SpaceX and AST SpaceMobileApple NASDAQ: AAPL reported fiscal third-quarter revenue of $109.4 billion, up 16% from a year earlier and a June-quarter record, as double-digit gains in iPhone, Mac and services offset supply constraints and foreign-exchange headwinds.

Net income totaled $29.8 billion, while diluted earnings per share rose 29% year over year to $2.02. CFO Kevan Parekh said EPS included an $0.11 favorable impact from tariff refunds. Operating cash flow reached a June-quarter record of $34.4 billion.

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Chips & Clips: Memory Tariffs Rewire Tech Supply ChainsThe company also said CEO Tim Cook was participating in his final earnings call, with incoming CEO John Ternus set to lead future calls. Cook said the transition was proceeding smoothly and expressed confidence in Ternus and Apple’s leadership team.

iPhone and Mac Lead Product Growth iPhone revenue rose 22% to a June-quarter record of $54.3 billion, driven by the iPhone 17 family. Cook said Apple recorded June-quarter iPhone revenue records across every geographic segment and set a record for upgraders. Parekh added that the iPhone active installed base reached an all-time high.

3 Value ETFs to Consider as Growth Stocks Lag BehindMac revenue climbed 29% to $10.4 billion, also a June-quarter record, despite what Cook described as significant supply constraints. Growth was led by MacBook Pro and the newly introduced MacBook Neo. Apple said it gained global market share in both iPhone and Mac, citing IDC data.

iPad revenue, however, declined 6% from a year earlier to $6.2 billion, which Parekh attributed to a difficult comparison against the launch of the A16-powered iPad in the prior-year period. Wearables, home and accessories revenue increased 6% to $7.9 billion, helped by wearables and accessories.

Apple’s installed base surpassed 2.5 billion active devices, reaching all-time highs across major product categories and geographic segments, according to Parekh.

Services Sets Records Despite Currency Pressure Services revenue rose 12% to a June-quarter record of $30.7 billion. Apple said it set revenue records in every services category, including all-time records in cloud services and payment services. The company surpassed 1.5 billion paid subscriptions, while both transacting accounts and paid accounts reached all-time highs.

Still, Parekh said foreign exchange was the main factor behind the sequential slowdown in services growth. He also cited a year-over-year comparison affected by the theatrical release of F1 in the prior period, headwinds in mobile gaming, and changes to the App Store business model in certain countries.

Apple said App Store revenue still reached a June-quarter record. Parekh said Apple continues to operate under a U.S. court ruling affecting link-out transactions and that the company was pleased the Supreme Court would hear its appeal.

Supply Constraints and Memory Costs Shape Outlook For the September quarter, Apple forecast total revenue growth of 9% to 11% year over year. Parekh said the outlook assumes current global tariff rates and policies remain in place and that the macroeconomic outlook does not worsen.

The company expects foreign exchange to reduce the year-over-year total-company growth rate by roughly 2.5 percentage points sequentially from the June quarter to the September quarter. It also expects supply constraints to increase significantly and affect iPhone, Mac and iPad.

Cook said the supply limitations were primarily related to availability of advanced manufacturing nodes used for Apple’s system-on-chip production. He characterized the issue as a demand-forecast challenge rather than a supplier problem, saying demand for iPhone and Mac had exceeded Apple’s expectations.

Apple expects iPhone revenue growth in the September quarter to be in the mid-teens year over year. Services growth, excluding the additional foreign-exchange effect, is expected to be broadly similar to the June-quarter rate.

Gross margin is expected to range from 47% to 48%, including an anticipated benefit of about one percentage point from tariff refunds. Operating expenses are projected to be between $19.1 billion and $19.4 billion.

Memory costs remain a central concern. Cook said Apple paid more for memory in the March quarter than in the December quarter, significantly more in the June quarter than in March, and expects still-higher memory costs in the September quarter. He said the company had “reluctantly” raised prices amid what he called a “100-year flood” of memory-price increases.

Parekh said memory costs accounted for more than the full sequential decline in adjusted gross margin from the March quarter through the September-quarter midpoint of guidance, with partial offsets from carry-in inventory, lower costs for certain non-memory components and product mix.

AI, U.S. Manufacturing and Leadership Transition Cook highlighted Apple’s planned Siri AI rollout, describing the updated assistant as private, based on personal context and integrated throughout the company’s platforms. He said developer and public-beta feedback had been strongly positive. Apple expects to offer iCloud+ upgrade options for users with heavier AI usage, though Cook said it was too early to provide a complete plan for recovering associated compute costs.

In Europe, Cook said Apple is working with regulators toward a potential Siri AI launch, while noting that the Mac version is not subject to the same regulations as iPhone and iPad. In China, Apple recently received approval to ship initial Apple Intelligence features and is working through that rollout, with further work required for Siri AI.

Apple also pointed to U.S. supply-chain investments, including a multiyear Broadcom agreement expected to exceed $30 billion and plans to produce Mac mini systems at its Advanced Manufacturing Center in Houston later this year.

The board declared a cash dividend of $0.27 per share, payable Aug. 13 to shareholders of record as of Aug. 10. During the quarter, Apple returned $33 billion to shareholders, including $25.8 billion in share repurchases and $4 billion in dividends and equivalents.

About Apple (NASDAQ:AAPL)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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected].

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As the generative AI boom drives steep demand for hardware components, Apple and other hardware makers are facing what outgoing CEO Tim Cook calls “a hundred-year flood [on] memory pricing,” which is severely impacting the cost of producing iPhones, MacBooks, and other devices.

Apple described its recent earnings report as its “strongest June quarter ever,” with iPhone and Mac sales performing better than expected, growing 22% and 29%, respectively, year-over-year. Yet the company is bracing for memory shortages, known as RAMageddon, to get even worse. Apple’s biggest challenge is securing the advanced memory nodes used in its Apple silicon chips, which power the A-Series and M-Series processors used in iPhones and Macs.

“We continue to expect high levels of demand. However, with less flexibility in supply chain, we expect the impact from the supply constraints to increase significantly sequentially,” Cook said on Apple’s quarterly earnings call. “We’re seeing some very significant constraints currently with limited flexibility in the supply chain to remedy it.”

Apple is evidently worried enough about supply shortages that it reported $11.1 billion in inventory, nearly double the $5.7 billion it reported last September. This marks a break from Cook’s long-held supply chain approach, which has emphasized minimizing how much inventory Apple has on hand.

These constraints led Apple to “reluctantly” raise the price of Macs and iPads last month, Cook added. Other companies that have raised hardware prices include Meta, Samsung, Microsoft, and Sony.

“We’re going to be scrambling on the supply side, essentially,” Cook said.

For the upcoming quarter, Apple is predicting revenue growth between 9% and 11% year-over-year. But in the last several quarters, Apple has maintained about 16% year-over-year growth. Of course, that worries investors — Apple stock dropped 6% in after-hours trading.

When Senior VP of Hardware Engineering John Ternus steps into the CEO role in September, the company could be facing a rough patch, but at least Apple isn’t alone in its supply struggles.

When you purchase through links in our articles, we may earn a small commission. This doesn’t affect our editorial independence.

Amanda Silberling is a senior writer at TechCrunch covering the intersection of technology and culture. She has also written for publications like Polygon, MTV, the Kenyon Review, NPR, and Business Insider. She is the co-host of Wow If True, a podcast about internet culture, with science fiction author Isabel J. Kim. Prior to joining TechCrunch, she worked as a grassroots organizer, museum educator, and film festival coordinator. She holds a B.A. in English from the University of Pennsylvania and served as a Princeton in Asia Fellow in Laos.

You can contact or verify outreach from Amanda by emailing [email protected] or via encrypted message at @amanda.100 on Signal.

John Blank breaks down Apple ahead of its earnings report, calling it a premier company while discussing how investors should approach the stock in the current environment. He shares his outlooks on taking profits, letting the stock "sweeten" over the coming months, and what to watch as Tim Cook prepares for his final earnings call as CEO.

CUPERTINO, Calif.--(BUSINESS WIRE)--Apple® today announced financial results for its fiscal 2026 third quarter ended June 27, 2026. The Company posted quarterly revenue of $109.4 billion, up 16 percent year over year. Company gross margin was 50.1 percent, including a favorable impact of approximately 2 percentage points from tariff refunds. Diluted earnings per share was $2.02, up 29 percent year over year, and included a favorable impact of $0.11 from tariff refunds. “Today, Apple is proud to.

The company is set to release an upgraded Siri assistant in the fall, and it continues to contend with higher component costs.

Apple Inc (NASDAQ:AAPL, XETRA:APC) reported fiscal third-quarter revenue and profit that topped Wall Street expectations, driven by stronger-than-expected iPhone and Mac sales, though shares fell more than 4% in after-hours trading.

The company posted revenue of $109.42 billion, up 16.4% from a year earlier and above analyst estimates of $108.85 billion. Earnings per share came in at $2.02, beating estimates of $1.89 and up 28.7% from the same period last year.

iPhone revenue rose 21.7% to $54.25 billion, ahead of the $53.6 billion analysts had forecast. Mac sales jumped 28.7% to $10.35 billion, well above estimates of $8.62 billion.

Services revenue, however, came in below expectations at $30.74 billion, up 12.1% year-over-year but short of the $31.36 billion analysts had projected. iPad revenue also missed estimates, falling 5.9% to $6.19 billion.

In Greater China, revenue rose 22.4% to $18.82 billion, missing analyst estimates of $19.58 billion.

By geography, the Americas generated $45.78 billion in revenue, up 11.1% and ahead of estimates of $45.42 billion. Europe revenue climbed 22.4% to $29.4 billion, while Japan revenue rose 13.4% to $6.55 billion. Revenue from the rest of Asia Pacific increased 15.6% to $8.87 billion.

Total products revenue, which includes iPhone, Mac, iPad and wearables, rose 18.1% to $78.68 billion, above estimates of $77.25 billion. Wearables, Home and Accessories revenue increased 6.5% to $7.88 billion, roughly in line with estimates.

On profitability, gross margin rose 25.3% to $54.77 billion. Operating expenses climbed 22.9% to $19.08 billion, slightly above estimates of $18.96 billion. Operating income increased 26.6% to $35.7 billion, topping estimates of $33.34 billion, while net income rose 27.1% to $29.79 billion, ahead of the $27.67 billion analysts had expected.

Apple saw revenue jump 16% to pass $109 billion for its fiscal third quarter ended in June. EPS of $2.02 included a tariff refund of 11 cents a share. It’s a momentous quarter beyond the numbers as it is CEO Tim Cook’s last presiding as chief executive. His successor John Ternus takes the reins Sept. 1.

Revenue at Services (of $30.7 billion), which houses Apple TV+, came in a bit shy of Wall Street forecasts, knocking Apple’s highflying stock down 4% after hours, and after a major runup this year. IPhone sales continued to rise, jumping 22% to $54.3 billion from $44.6 billion the year earlier.

“Today, Apple is proud to report our strongest June quarter ever, with double-digit revenue growth across iPhone, Mac and Services, and in every geographic segment,” said Cook said.

The numbers top off an eventful week as the company briefly hit a market cap of $5 trillion.

On Tuesday, it introduced a leasing program called Apple Upgrade for its iPhones and other devices after raising the prices of key products in June. The consumer electronics business is being squeezed by a shortage of memory and storage chips, which are being gobbled up in the AI arms race.

Cook and Ternus – a 25-year Apple veteran and current head of hardware –also hit the gala premiere of Ted Lasso Season 4.

Apple’s stock price has been on a roll (up 24% year to date) unlike some other tech giants as the industry invests heavily in data centers and chips as an AI arms race unfolds. Apple has announced a redesigned Siri (using Google technology) and other AI features.

Investors will be looking for more commentary around product demand and tariffs as well as AI on a call set for 5 pm ET. It will be Cook’s 90th and last earnings call after 15 years as CEO, and 28 years at the company.

More to come

George Tsilis and Marley Kayden break down Apple's (AAPL) 3rd quarter results. Shares fell in the post market despite what outgoing CEO Tim Cook called its "best quarter ever.

Characteristics and Risks of Standardized Options: https://bit.ly/2v9tH6D. Joe Mazzola and Tom White discuss Apple (AAPL) ahead of its earnings report this afternoon, breaking down the company's record-setting run and what investors should expect next.

Apple is set to report earnings after the closing bell today, with traders expecting the iPhone maker's stock could near its recent record following the results.

I don’t know about you, but Mad Money host Jim Cramer sounded very cautious about the state of the market in recent weeks. Undoubtedly, the technical picture does not look all that good.

And while it’s okay to be bullish about the AI revolution as the technology continues to break new ground, there are other concerns, including the impact of heavy CapEx spending on margins (and maybe even credit ratings), the re-escalating situation going on in the Middle East, the latest words from Fed chair Kevin Warsh, or just heightened valuations and the added volatility in the tech-heavy Nasdaq 100, which has since fallen into a correction, by the way.

It’s natural to get cautious when someone like Jim Cramer gets cautious In any case, I think Cramer is wise to consider stocks beyond those that have hogged the headlines in recent months. While the man isn’t saying “sell, sell, sell,” his “struggling to have reasons to buy,” I think, is enough reason to convince investors to re-evaluate their risk profiles and maybe take a step back to some of the more defensive stocks that may have been neglected amid the past-year ascent in the AI frontrunners. Indeed, when momentum turns and reversions to the mean hit, things could have the potential to get really nasty.

Personally, I think the concentration of pain in the tech-heavy Nasdaq 100 and especially the iShares Semiconductor ETF (NASDAQ:SOXX), which are currently off around 10% and 30%, respectively, from their all-time highs, while the S&P 500 is off just north of 3% goes to show that not everything needs to implode as some of the hottest, overleveraged corners of tech (most notably the AI chip stocks) look to give some of the meteoric gains back.

Of course, if stocks continue to tumble, an opportunity to buy could open up for those willing to brave the rough waters. For now, I think staying diversified and not getting too aggressive with dip-buying in names that have more than doubled up year-to-date is the way to go. Indeed, the faster they climb, the more room they have to fall.

The semiconductor industry is the new pain trade With a name like Sandisk (NASDAQ:SNDK | SNDK Price Prediction) crashing more than 35% in the past week, those who got the timing wrong are surely feeling it. Either way, investors don’t need to play in these intensely volatile areas, especially as early signs of an AI correction (or maybe something a bit worse) look to play out in this second half.

Act now: the analyst who called NVIDIA in 2010 just named his top 10 AI stocks — and Apple didn't make the cut. Grab the names FREE today.

While I wouldn’t treat Jim Cramer’s words as gospel, I do think he raises some very good points. A bit of caution and preparedness for a rainy day is never a bad thing, especially in the midst of a roaring bull market, one that might be a bit too quick to shrug off the growing lists of risks (the war in Iran, inflation, and the risk of rate hikes) that might just be fuel for a painful correction.

Staying the course, staying diversified Whether it’s Jim Cramer’s cautious tone or Jamie Dimon’s more worrisome remarks on the state of the market, I do think that the best thing to do at a time like this is to hang on for the ride and trim away at the at-risk areas (most notably the semi stocks) while one is still in the green.

Does that mean that the AI trade is done and the semi cyclical upswing is over? Probably not. But if there’s an industry overdue for a dive, it’s the semis. And I think the entire market doesn’t need to be dragged down, especially the AI CapEx-light companies that still stand to benefit from the technology in a massive way.

The first thing that comes to mind are the banks and Apple (NASDAQ:AAPL). Of course, you’ll pay up for shares of the iPhone maker, which now goes for over 41.0 times trailing price-to-earnings (P/E), the highest it’s been in recent memory.

Act now: the analyst who called NVIDIA in 2010 just named his top 10 AI stocks — and Apple didn't make the cut. Grab the names FREE today.

Contact [email protected] for any questions or corrections.

Posted by Defense World Staff on Jul 30th, 2026

CFO Capital Management LLC lessened its position in shares of Apple Inc. (NASDAQ:AAPL – Free Report) by 4.4% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 40,973 shares of the iPhone maker’s stock after selling 1,904 shares during the quarter. Apple makes up about 7.7% of CFO Capital Management LLC’s holdings, making the stock its 2nd largest position. CFO Capital Management LLC’s holdings in Apple were worth $10,280,000 at the end of the most recent quarter.

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

Wall Street Analysts Forecast Growth Several research firms have weighed in on AAPL. Needham & Company LLC reissued a “hold” rating on shares of Apple in a research report on Tuesday, June 9th. HSBC raised shares of Apple from a “hold” rating to a “buy” rating and boosted their price objective for the company from $260.00 to $366.00 in a research report on Thursday, July 16th. Wedbush restated an “outperform” rating and set a $400.00 target price on shares of Apple in a research report on Friday, June 5th. Morgan Stanley set a $364.00 price target on Apple and gave the company an “overweight” rating in a report on Thursday, July 23rd. Finally, Tigress Financial reissued a “strong-buy” rating and set a $375.00 price target (up from $305.00) on shares of Apple in a research note on Thursday, May 14th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating, nine have given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $327.40.

Check Out Our Latest Research Report on AAPL

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

Positive Sentiment: Strong iPhone demand and steady pricing are expected to produce Apple’s strongest June-quarter revenue growth in five years. Analysts are also watching for contributions from Services, Mac, and iPhone 17 shipments. Apple set for strongest June-quarter sales growth in 5 years Positive Sentiment: Apple’s new Apple Upgrade program, powered by Klarna, lets U.S. customers lease iPhones, Macs, iPads, and Apple Watches through monthly payments. The initiative could lower upfront costs, increase upgrade frequency, and support device sales. Apple launches US device leasing program with Klarna Positive Sentiment: Erste Group modestly raised its fiscal 2027 EPS forecast to $9.57 from $9.56, above the current-year consensus estimate of $8.76, reinforcing the bullish long-term earnings outlook. Neutral Sentiment: Apple’s record valuation reflects investor confidence in its relatively disciplined AI spending and improving product demand, while money has rotated away from Nvidia and other high-spending chip stocks. However, options markets imply a comparatively contained post-earnings move, suggesting much of the optimism may already be priced in. Apple Could Swing $170 Billion In Value After Earnings Negative Sentiment: Apple faces a leadership transition, with Tim Cook preparing for his final earnings call as CEO and hardware chief John Ternus scheduled to succeed him. Investors will seek evidence that the incoming CEO can sustain growth beyond the iPhone. Negative Sentiment: Proposed U.K. App Store rules could loosen Apple’s control over in-app payments and reduce commission revenue; Apple argues the measures amount to price regulation. Apple says UK App Store proposal amounts to price regulation Negative Sentiment: A federal lawsuit alleges a fraudulent Bitcoin wallet app remained available in Apple’s App Store, raising potential legal costs and renewed concerns about app-review and platform liability. Apple Stock Performance NASDAQ:AAPL opened at $338.19 on Thursday. The firm’s fifty day simple moving average is $308.94 and its 200 day simple moving average is $280.73. The company has a current ratio of 1.07, a quick ratio of 1.02 and a debt-to-equity ratio of 0.70. Apple Inc. has a twelve month low of $201.50 and a twelve month high of $344.57. The firm has a market capitalization of $4.97 trillion, a price-to-earnings ratio of 40.89, a PEG ratio of 2.94 and a beta of 1.10.

Apple (NASDAQ:AAPL – Get Free Report) last issued its earnings results on Thursday, April 30th. The iPhone maker reported $2.01 earnings per share for the quarter, topping the consensus estimate of $1.95 by $0.06. Apple had a return on equity of 146.69% and a net margin of 27.15%.The company had revenue of $111.18 billion during the quarter, compared to the consensus estimate of $109.46 billion. During the same quarter in the prior year, the business earned $1.65 earnings per share. The company’s revenue was up 16.6% compared to the same quarter last year. As a group, equities research analysts expect that Apple Inc. will post 8.76 earnings per share for the current fiscal year.

Insider Activity at Apple In related news, insider Ben Borders sold 116 shares of the business’s stock in a transaction that occurred on Tuesday, June 16th. The stock was sold at an average price of $295.14, for a total transaction of $34,236.24. Following the transaction, 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 is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders own 0.06% of the company’s stock.

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 Articles Five stocks we like better than Apple Why SK hynix Could Be the Best AI Chip Stock to Buy Now Seagate Technology Stock Surges as Earnings Beat Silences AI Doubters Alphabet Is Down 18% From Its High After a Stellar Quarter—Overdone, or More Downside Ahead? Why Bloom Energy May Be the Most Important AI Infrastructure Stock 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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Posted by Defense World Staff on Jul 30th, 2026

Checchi Capital Advisers LLC cut its stake in Apple Inc. (NASDAQ:AAPL – Free Report) by 2.5% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 157,981 shares of the iPhone maker’s stock after selling 4,010 shares during the period. Apple comprises about 2.0% of Checchi Capital Advisers LLC’s investment portfolio, making the stock its 2nd largest position. Checchi Capital Advisers LLC’s holdings in Apple were worth $40,094,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently added to or reduced their stakes in the stock. Wealthgarden F.S. LLC increased its position in shares of Apple by 1.3% during the first quarter. Wealthgarden F.S. LLC now owns 9,754 shares of the iPhone maker’s stock worth $2,476,000 after acquiring an additional 121 shares during the period. Nwam LLC raised its stake in shares of Apple by 1.2% during the first quarter. Nwam LLC now owns 255,759 shares of the iPhone maker’s stock valued at $64,909,000 after acquiring an additional 3,156 shares in the last quarter. Hillsdale Investment Management Inc. boosted its holdings in shares of Apple by 10.4% in the first quarter. Hillsdale Investment Management Inc. now owns 162,694 shares of the iPhone maker’s stock valued at $41,290,000 after purchasing an additional 15,362 shares during the period. Avantax Planning Partners Inc. boosted its holdings in shares of Apple by 0.4% in the first quarter. Avantax Planning Partners Inc. now owns 147,675 shares of the iPhone maker’s stock valued at $37,479,000 after purchasing an additional 615 shares during the period. Finally, Nicholson Wealth Management Group LLC grew its stake in Apple by 3.0% in the first quarter. Nicholson Wealth Management Group LLC now owns 11,264 shares of the iPhone maker’s stock worth $2,859,000 after purchasing an additional 332 shares in the last quarter. Hedge funds and other institutional investors own 67.73% of the company’s stock.

Insider Buying and Selling at Apple In related news, insider Ben Borders sold 116 shares of the business’s stock in a transaction on Tuesday, June 16th. The stock was sold at an average price of $295.14, for a total transaction of $34,236.24. Following the transaction, the insider directly owned 38,713 shares in the company, valued at $11,425,754.82. The trade was a 0.30% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 0.06% of the stock is owned by insiders.

Apple Trading Down 0.6% NASDAQ AAPL opened at $338.19 on Thursday. The company has a quick ratio of 1.02, a current ratio of 1.07 and a debt-to-equity ratio of 0.70. The firm has a market cap of $4.97 trillion, a PE ratio of 40.89, a price-to-earnings-growth ratio of 2.94 and a beta of 1.10. The company has a 50 day moving average price of $308.94 and a 200 day moving average price of $280.73. Apple Inc. has a 52 week low of $201.50 and a 52 week high of $344.57.

Apple (NASDAQ:AAPL – Get Free Report) last released its quarterly earnings results on Thursday, April 30th. The iPhone maker reported $2.01 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.95 by $0.06. The business had revenue of $111.18 billion for the quarter, compared to analyst estimates of $109.46 billion. Apple had a net margin of 27.15% and a return on equity of 146.69%. The business’s revenue for the quarter was up 16.6% on a year-over-year basis. During the same period in the previous year, the company earned $1.65 earnings per share. As a group, sell-side analysts forecast that Apple Inc. will post 8.76 EPS for the current fiscal year.

Analysts Set New Price Targets Several research analysts have commented on AAPL shares. TD Cowen raised their price objective on Apple from $335.00 to $350.00 and gave the stock a “buy” rating in a report on Tuesday, June 9th. HSBC upgraded Apple from a “hold” rating to a “buy” rating and upped their target price for the stock from $260.00 to $366.00 in a report on Thursday, July 16th. BNP Paribas Exane raised Apple from a “neutral” rating to an “outperform” rating and set a $300.00 price target on the stock in a research report on Friday, April 17th. Needham & Company LLC restated a “hold” rating on shares of Apple in a research note on Tuesday, June 9th. Finally, Oppenheimer restated a “market perform” rating on shares of Apple in a report on Tuesday, June 9th. One investment analyst has rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating, nine have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, Apple presently has an average rating of “Moderate Buy” and an average target price of $327.40.

Get Our Latest Analysis on AAPL

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

Positive Sentiment: Strong iPhone demand and steady pricing are expected to produce Apple’s strongest June-quarter revenue growth in five years. Analysts are also watching for contributions from Services, Mac, and iPhone 17 shipments. Apple set for strongest June-quarter sales growth in 5 years Positive Sentiment: Apple’s new Apple Upgrade program, powered by Klarna, lets U.S. customers lease iPhones, Macs, iPads, and Apple Watches through monthly payments. The initiative could lower upfront costs, increase upgrade frequency, and support device sales. Apple launches US device leasing program with Klarna Positive Sentiment: Erste Group modestly raised its fiscal 2027 EPS forecast to $9.57 from $9.56, above the current-year consensus estimate of $8.76, reinforcing the bullish long-term earnings outlook. Neutral Sentiment: Apple’s record valuation reflects investor confidence in its relatively disciplined AI spending and improving product demand, while money has rotated away from Nvidia and other high-spending chip stocks. However, options markets imply a comparatively contained post-earnings move, suggesting much of the optimism may already be priced in. Apple Could Swing $170 Billion In Value After Earnings Negative Sentiment: Apple faces a leadership transition, with Tim Cook preparing for his final earnings call as CEO and hardware chief John Ternus scheduled to succeed him. Investors will seek evidence that the incoming CEO can sustain growth beyond the iPhone. Negative Sentiment: Proposed U.K. App Store rules could loosen Apple’s control over in-app payments and reduce commission revenue; Apple argues the measures amount to price regulation. Apple says UK App Store proposal amounts to price regulation Negative Sentiment: A federal lawsuit alleges a fraudulent Bitcoin wallet app remained available in Apple’s App Store, raising potential legal costs and renewed concerns about app-review and platform liability. 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 Articles Five stocks we like better than Apple Why SK hynix Could Be the Best AI Chip Stock to Buy Now Seagate Technology Stock Surges as Earnings Beat Silences AI Doubters Alphabet Is Down 18% From Its High After a Stellar Quarter—Overdone, or More Downside Ahead? Why Bloom Energy May Be the Most Important AI Infrastructure Stock 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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At first glance, the new Apple Upgrade program seems like a no-brainer. Why pay the full $1,199 for a new iPad Pro when you could spread the cost by leasing it for 24 or 36 months with no interest or additional fees?