Track market-moving stories before they get noisy

SPX Gestao de Recursos Ltda purchased a new stake in Apple Inc. (NASDAQ:AAPL – Free Report) during the second quarter, according to the company in its most recent filing with the SEC. The firm purchased 7,800 shares of the iPhone maker’s stock, valued at approximately $2,257,000.

Other institutional investors also recently made changes to their positions in the company. Avenir Tech Ltd acquired a new stake in Apple during the second quarter worth about $29,000. Longfellow Investment Management Co. LLC acquired a new position in shares of Apple in the 2nd quarter valued at about $30,000. Lifetime Wealth Management P.C. purchased a new stake in shares of Apple during the 4th quarter worth about $41,000. ABS Investment Management LLC purchased a new stake in shares of Apple during the 2nd quarter worth about $376,168,000. Finally, Basso Capital Management L.P. acquired a new stake in Apple during the 4th quarter worth approximately $88,000. 67.73% of the stock is owned by hedge funds and other institutional investors.

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

Positive Sentiment: Counterpoint Research estimates Apple could sell approximately 6 million iPhone Duo foldable handsets in 2026, despite the device’s premium starting price of $1,999. Pre-orders reportedly begin October 16, with deliveries scheduled for October 23. Apple Predicted To Sell 6 Million iPhone Duo Handsets This Year Positive Sentiment: Early iPhone 18 Pro demand in China is encouraging: first-week sales rose 12% year over year, and Apple captured 33% of smartphone sales during the measured period. Analysts also see consumers showing greater willingness to pay for higher-priced models. Apple iPhone 18 Pro China Launch-Week Sales Rise 12% Positive Sentiment: Reports that Apple will unveil a new smart-home hub at an October 13 event added to expectations for expansion beyond the iPhone. The company is also reportedly renewing its Qualcomm licensing agreement, supporting continuity for its device and connectivity roadmap. Apple Plans Smart-Home Push Positive Sentiment: Broader technology stocks benefited from cooler inflation data, which reduced near-term concerns about additional Federal Reserve rate hikes. Apple also received a favorable endorsement from Jim Cramer ahead of the Duo launch. Neutral Sentiment: New CEO John Ternus is reportedly considering an engineering-focused restructuring, faster product releases and fewer management layers. The changes could improve innovation and execution, but they introduce transition risk and may include layoffs as memory costs rise. Apple’s New CEO Plans Overhaul Negative Sentiment: Bank of America warned that Meta’s Muse and other AI agents could divert product discovery, shopping activity and services revenue away from Apple’s ecosystem, increasing pressure on Siri, Apple Pay and the App Store. Negative Sentiment: Apple patched a zero-day vulnerability reportedly used in targeted attacks involving iPhone crypto wallets. In addition, a UK class-action case over marketplace restrictions was allowed to proceed, creating ongoing legal and reputational risks. Apple Stock Performance Shares of AAPL stock opened at $333.02 on Thursday. The stock has a market capitalization of $4.86 trillion, a price-to-earnings ratio of 38.19, a PEG ratio of 2.86 and a beta of 1.08. Apple Inc. has a one year low of $243.42 and a one year high of $345.34. The company’s 50-day simple moving average is $321.97 and its 200-day simple moving average is $299.21. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.93 and a current ratio of 1.00. Apple (NASDAQ:AAPL – Get Free Report) last announced its quarterly earnings data on Thursday, July 30th. The iPhone maker reported $2.02 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.89 by $0.13. Apple had a return on equity of 135.46% and a net margin of 27.62%.The firm had revenue of $109.42 billion for the quarter, compared to analysts’ expectations of $109.04 billion. During the same quarter in the prior year, the firm posted $1.57 earnings per share. Apple’s revenue for the quarter was up 16.4% compared to the same quarter last year. Equities analysts anticipate that Apple Inc. will post 8.74 earnings per share for the current fiscal year.

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

Insider Activity In related news, SVP Jennifer Newstead sold 2,399 shares of the firm’s stock in a transaction on Tuesday, September 22nd. The stock was sold at an average price of $340.06, for a total transaction of $815,803.94. Following the transaction, the senior vice president directly owned 44,391 shares in the company, valued at $15,095,603.46. This trade represents a 5.13% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Over the last quarter, insiders sold 11,031 shares of company stock worth $3,535,759. Corporate insiders own 0.06% of the company’s stock.

Wall Street Analyst Weigh In A number of research analysts have weighed in on the stock. Jefferies Financial Group reaffirmed an “underperform” rating on shares of Apple in a research report on Wednesday, September 9th. Robert W. Baird raised their target price on shares of Apple from $310.00 to $330.00 and gave the company an “outperform” rating in a research note on Friday, July 24th. Sanford C. Bernstein restated an “outperform” rating on shares of Apple in a report on Friday, September 25th. BTIG Research assumed coverage on shares of Apple in a research report on Monday, August 17th. They set a “neutral” rating for the company. Finally, KGI Securities lowered Apple from an “outperform” rating to a “hold” rating and set a $315.00 target price for the company. in a research note on Monday, June 22nd. One research analyst has rated the stock with a Strong Buy rating, twenty-six have issued a Buy rating, thirteen have given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $340.14.

Check Out Our Latest Analysis on AAPL

About Apple (Free Report)

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

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

Further Reading Five stocks we like better than Apple Deutsche Bank Makes a Contrarian Call on Netflix—What Does It Mean for Investors? O’Reilly Automotive’s Stock Slump Hides a Stronger Business McDonald’s Stock Slump Makes Its AI Pricing Bet Even Riskier Broadcom’s AI Growth Story Faces a $161 Billion Anthropic Test

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UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC reduced its position in shares of Apple Inc. (NASDAQ:AAPL – Free Report) by 1.4% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 104,001,309 shares of the iPhone maker’s stock after selling 1,509,444 shares during the period. Apple makes up about 5.5% of UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s investment portfolio, making the stock its 2nd largest position. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 0.71% of Apple worth $30,093,819,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in AAPL. Prospect Hill Management LLC acquired a new stake in Apple during the 2nd quarter worth about $146,370,000. Focus Partners Advisor Solutions LLC acquired a new position in shares of Apple in the second quarter worth about $168,646,000. Wealthfront Advisers LLC purchased a new position in shares of Apple in the second quarter worth approximately $482,388,000. Satovsky Asset Management LLC acquired a new stake in shares of Apple during the second quarter valued at approximately $16,064,000. Finally, Saranac Partners Ltd purchased a new stake in shares of Apple in the 2nd quarter valued at approximately $9,513,000. 67.73% of the stock is owned by institutional investors and hedge funds.

Apple Trading Up 1.1% Apple stock opened at $333.02 on Thursday. Apple Inc. has a 12 month low of $243.42 and a 12 month high of $345.34. The company has a quick ratio of 0.93, a current ratio of 1.00 and a debt-to-equity ratio of 0.66. The stock has a market cap of $4.86 trillion, a P/E ratio of 38.19, a P/E/G ratio of 2.86 and a beta of 1.08. The company’s fifty day simple moving average is $321.97 and its 200-day simple moving average is $299.21.

Apple (NASDAQ:AAPL – Get Free Report) last announced its quarterly earnings data on Thursday, July 30th. The iPhone maker reported $2.02 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.89 by $0.13. The business had revenue of $109.42 billion during the quarter, compared to analyst estimates of $109.04 billion. Apple had a return on equity of 135.46% and a net margin of 27.62%.Apple’s quarterly revenue was up 16.4% compared to the same quarter last year. During the same period last year, the company earned $1.57 earnings per share. As a group, sell-side analysts forecast that Apple Inc. will post 8.74 EPS for the current fiscal year. Apple Announces Dividend The company also recently declared a quarterly dividend, which was paid on Thursday, August 13th. Stockholders of record on Monday, August 10th were paid a dividend of $0.27 per share. The ex-dividend date of this dividend was Monday, August 10th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 0.3%. Apple’s dividend payout ratio (DPR) is 12.39%.

Wall Street Analysts Forecast Growth A number of equities analysts recently commented on the stock. Morgan Stanley reaffirmed an “overweight” rating and issued a $360.00 price objective on shares of Apple in a research note on Tuesday. Jefferies Financial Group reaffirmed an “underperform” rating on shares of Apple in a research report on Wednesday, September 9th. Sanford C. Bernstein reiterated an “outperform” rating on shares of Apple in a report on Friday, September 25th. Raymond James Financial reissued a “market perform” rating on shares of Apple in a research report on Friday, July 31st. Finally, KeyCorp reissued an “underweight” rating on shares of Apple in a research note on Friday, September 4th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-six have assigned a Buy rating, thirteen have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $340.14.

Check Out Our Latest Report on AAPL

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

Positive Sentiment: Counterpoint Research estimates Apple could sell approximately 6 million iPhone Duo foldable handsets in 2026, despite the device’s premium starting price of $1,999. Pre-orders reportedly begin October 16, with deliveries scheduled for October 23. Apple Predicted To Sell 6 Million iPhone Duo Handsets This Year Positive Sentiment: Early iPhone 18 Pro demand in China is encouraging: first-week sales rose 12% year over year, and Apple captured 33% of smartphone sales during the measured period. Analysts also see consumers showing greater willingness to pay for higher-priced models. Apple iPhone 18 Pro China Launch-Week Sales Rise 12% Positive Sentiment: Reports that Apple will unveil a new smart-home hub at an October 13 event added to expectations for expansion beyond the iPhone. The company is also reportedly renewing its Qualcomm licensing agreement, supporting continuity for its device and connectivity roadmap. Apple Plans Smart-Home Push Positive Sentiment: Broader technology stocks benefited from cooler inflation data, which reduced near-term concerns about additional Federal Reserve rate hikes. Apple also received a favorable endorsement from Jim Cramer ahead of the Duo launch. Neutral Sentiment: New CEO John Ternus is reportedly considering an engineering-focused restructuring, faster product releases and fewer management layers. The changes could improve innovation and execution, but they introduce transition risk and may include layoffs as memory costs rise. Apple’s New CEO Plans Overhaul Negative Sentiment: Bank of America warned that Meta’s Muse and other AI agents could divert product discovery, shopping activity and services revenue away from Apple’s ecosystem, increasing pressure on Siri, Apple Pay and the App Store. Negative Sentiment: Apple patched a zero-day vulnerability reportedly used in targeted attacks involving iPhone crypto wallets. In addition, a UK class-action case over marketplace restrictions was allowed to proceed, creating ongoing legal and reputational risks. Insider Buying and Selling at Apple In other news, SVP Jennifer Newstead sold 2,399 shares of Apple stock in a transaction dated Tuesday, September 22nd. The stock was sold at an average price of $340.06, for a total transaction of $815,803.94. Following the completion of the sale, the senior vice president directly owned 44,391 shares in the company, valued at $15,095,603.46. The trade was a 5.13% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Over the last three months, insiders sold 11,031 shares of company stock worth $3,535,759. 0.06% of the stock is owned by company insiders.

Apple Profile (Free Report)

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

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

Featured Articles Five stocks we like better than Apple Deutsche Bank Makes a Contrarian Call on Netflix—What Does It Mean for Investors? O’Reilly Automotive’s Stock Slump Hides a Stronger Business McDonald’s Stock Slump Makes Its AI Pricing Bet Even Riskier Broadcom’s AI Growth Story Faces a $161 Billion Anthropic Test

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Trustmark Bank Trust Department grew its stake in shares of Apple Inc. (NASDAQ:AAPL – Free Report) by 3.6% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 107,001 shares of the iPhone maker’s stock after purchasing an additional 3,735 shares during the period. Apple makes up 1.8% of Trustmark Bank Trust Department’s investment portfolio, making the stock its 11th biggest holding. Trustmark Bank Trust Department’s holdings in Apple were worth $30,962,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. New Mexico Educational Retirement Board boosted its position in shares of Apple by 7.4% during the 2nd quarter. New Mexico Educational Retirement Board now owns 730,545 shares of the iPhone maker’s stock worth $211,391,000 after purchasing an additional 50,181 shares in the last quarter. Royal London Asset Management Ltd. increased its position in Apple by 3.6% in the 2nd quarter. Royal London Asset Management Ltd. now owns 10,335,156 shares of the iPhone maker’s stock valued at $2,990,581,000 after buying an additional 355,942 shares in the last quarter. Mufg Securities Americas Inc. increased its position in Apple by 8.9% in the 2nd quarter. Mufg Securities Americas Inc. now owns 442,363 shares of the iPhone maker’s stock valued at $128,002,000 after buying an additional 36,213 shares in the last quarter. Investors Asset Management of Georgia Inc. GA ADV raised its stake in Apple by 5.7% during the 2nd quarter. Investors Asset Management of Georgia Inc. GA ADV now owns 17,847 shares of the iPhone maker’s stock worth $5,164,000 after buying an additional 969 shares during the period. Finally, Ferguson Wellman Capital Management Inc. raised its stake in Apple by 1.7% during the 2nd quarter. Ferguson Wellman Capital Management Inc. now owns 1,387,665 shares of the iPhone maker’s stock worth $401,535,000 after buying an additional 23,100 shares during the period. Institutional investors own 67.73% of the company’s stock.

Insiders Place Their Bets In other Apple news, SVP Jennifer Newstead sold 2,399 shares of the firm’s stock in a transaction on Tuesday, September 22nd. The stock was sold at an average price of $340.06, for a total transaction of $815,803.94. Following the transaction, the senior vice president directly owned 44,391 shares in the company, valued at approximately $15,095,603.46. This trade represents a 5.13% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In the last quarter, insiders sold 11,031 shares of company stock worth $3,535,759. 0.06% of the stock is currently owned by company insiders.

Key Headlines Impacting Apple Here are the key news stories impacting Apple this week: Positive Sentiment: Counterpoint Research estimates Apple could sell approximately 6 million iPhone Duo foldable handsets in 2026, despite the device’s premium starting price of $1,999. Pre-orders reportedly begin October 16, with deliveries scheduled for October 23. Apple Predicted To Sell 6 Million iPhone Duo Handsets This Year Positive Sentiment: Early iPhone 18 Pro demand in China is encouraging: first-week sales rose 12% year over year, and Apple captured 33% of smartphone sales during the measured period. Analysts also see consumers showing greater willingness to pay for higher-priced models. Apple iPhone 18 Pro China Launch-Week Sales Rise 12% Positive Sentiment: Reports that Apple will unveil a new smart-home hub at an October 13 event added to expectations for expansion beyond the iPhone. The company is also reportedly renewing its Qualcomm licensing agreement, supporting continuity for its device and connectivity roadmap. Apple Plans Smart-Home Push Positive Sentiment: Broader technology stocks benefited from cooler inflation data, which reduced near-term concerns about additional Federal Reserve rate hikes. Apple also received a favorable endorsement from Jim Cramer ahead of the Duo launch. Neutral Sentiment: New CEO John Ternus is reportedly considering an engineering-focused restructuring, faster product releases and fewer management layers. The changes could improve innovation and execution, but they introduce transition risk and may include layoffs as memory costs rise. Apple’s New CEO Plans Overhaul Negative Sentiment: Bank of America warned that Meta’s Muse and other AI agents could divert product discovery, shopping activity and services revenue away from Apple’s ecosystem, increasing pressure on Siri, Apple Pay and the App Store. Negative Sentiment: Apple patched a zero-day vulnerability reportedly used in targeted attacks involving iPhone crypto wallets. In addition, a UK class-action case over marketplace restrictions was allowed to proceed, creating ongoing legal and reputational risks. Apple Stock Performance Shares of AAPL opened at $333.02 on Thursday. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.93 and a current ratio of 1.00. The stock has a 50 day moving average price of $321.97 and a two-hundred day moving average price of $299.21. The firm has a market capitalization of $4.86 trillion, a P/E ratio of 38.19, a P/E/G ratio of 2.86 and a beta of 1.08. Apple Inc. has a 52 week low of $243.42 and a 52 week high of $345.34.

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

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

Analyst Ratings Changes A number of equities research analysts have commented on AAPL shares. CICC Research raised their price objective on Apple from $310.00 to $340.00 and gave the company an “outperform” rating in a research note on Tuesday, August 4th. Royal Bank Of Canada set a $365.00 target price on Apple in a research report on Wednesday, July 15th. Raymond James Financial reiterated a “market perform” rating on shares of Apple in a report on Friday, July 31st. Moffett Nathanson reissued a “neutral” rating and issued a $304.00 price target (up from $270.00) on shares of Apple in a research report on Tuesday, September 8th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Apple in a research report on Tuesday, September 8th. One investment analyst has rated the stock with a Strong Buy rating, twenty-six have assigned a Buy rating, thirteen have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $340.14.

Read Our Latest Research Report on Apple

Apple Profile (Free Report)

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

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

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

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Apple already turned $1,000 into more than $12,000 once, but doing it again from today's price is a very different challenge. The math on how long a 10x return actually takes reveals just how much has changed for this stock.

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A 10x return means turning $1,000 into $10,000. It has already been done once by Apple (NASDAQ:AAPL | AAPL Price Prediction). Over the past decade the stock returned 1181.3%, so a $1,000 investment grew to about $12,813. Shares traded at $331.22 in Tuesday’s session.

The price model starts from the prior close of $338.25. Our longest forecast period ends in 2031, so every concrete figure below is linked to that five-year window.

What $1,000 in Apple Could Become by 2031 Under the central scenario, a $1,000 investment could be worth about $1,626.60 by 2031. The total return comes to 62.66%. It rests on a five-year per-share target of $550.18, which works out to an annualized return of 10.22%.

So how long until the investment hits $10,000? This part is illustrative only, because the model does not forecast that far out. If Apple kept growing at the base-case pace, a 10x gain would take about 23.6628 years.

At the bull-case pace it would take 17.1491 years. At the bear-case pace it would take 84.8765 years. A company this large growing more slowly than it did during its last tenfold run.

Bull, Base and Bear Scenarios for a $1,000 Stake Scenario (5-Year, 2031) Target Price Total Return Annualized Value of $1,000 Bull $661.78 95.65% 14.37% $1,956.50 Base $550.18 62.66% 10.22% $1,626.60 Bear $387.38 14.52% 2.75% $1,145.20 The one-year view is shorter. The most best scenario reaches $446.90 ($1,321.20 for the investment). The central scenario reaches $393.86 ($1,164.40). The most worst scenario reaches $338.86 ($1,001.80).

The model rates its confidence as high (0.9). Because Apple is a mega-cap, the model also applies a 50% reduction to its growth adjustment. It is a projection, not investment advice.

Three Drivers Behind the Upside Case Earnings Keep Beating Expectations Apple has exceeded EPS estimates for 10 consecutive quarters. In fiscal Q3 it earned $2.02 per share against a $1.8914 estimate. Revenue came in at $109.42B, up 16.36% from a year earlier. iPhone revenue rose 22% on the iPhone 17 family. The CEO called it “the most powerful and most popular iPhone lineup we’ve ever had.”

Services and Siri AI Build Recurring Revenue Services brought in $30.7 billion, up 12%, and paid subscriptions passed 1.5 billion. Apple introduced a redesigned Siri AI at WWDC. Management plans iCloud+ upgrade options for heavy users, which could add a new subscription revenue stream.

Cash Returned to Shareholders The board authorized an additional $100B buyback and raised the quarterly dividend to $0.27. Buybacks reduce the share count, so each remaining share gets a larger piece of earnings. It also relies on forward EPS of $9.1636 and a forward P/E of about 37x.

What Wall Street Analysts Expect Sentiment leans positive. Analysts rate Apple 6 strong buy, 19 buy, 14 hold, 3 sell and 2 strong sell. The consensus target of $328.22 sits below the current share price, though.

In other words, analysts on average see the stock as close to fully valued right now. The model’s upside comes mostly from earnings growth, while the consensus target means little room for the valuation multiple to rise.

Risks That Could Shrink Your Returns Valuation leaves little room for error. Apple trades at about 44 times trailing earnings. Supply is also tight: management expects constraints to “increase significantly” across iPhone, Mac and iPad. The CEO described rising memory prices as “a 100-year flood on the memory pricing.”

Recent results also got a one-time lift. Tariff refunds added about 2 pts to gross margin and $0.11 to EPS, and that benefit will not repeat. For the September quarter, guidance calls for revenue growth of 9% to 11%. That is slower than recent quarters.

Regulation is another pressure point. Siri AI still needs more work before it can launch in China, and in the EU its availability depends on talks with the European Commission. App Store decisions are already weighing on Services.

Competition in AI is heating up too: Bank of America noted an AI threat to Apple from Meta’s Muse. If these pressures build up, the most worst scenario of $1,145.20 becomes the more realistic outcome.

How Long Until $1,000 Becomes $10,000 The model’s five-year scenarios put $1,000 in Apple between $1,145.20 and $1,956.50 by 2031. The central scenario is $1,626.60.

Reaching $10,000 at the forecast pace would take well over a decade, and that timeline is only illustrative. They are scenarios, not guarantees. The next earnings report, along with updates on supply and memory costs, will show which path Apple is on.

Contact [email protected] for any questions or corrections.

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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Manchester Financial Inc. lowered its position in Apple Inc. (NASDAQ:AAPL – Free Report) by 3.1% in the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 53,337 shares of the iPhone maker’s stock after selling 1,718 shares during the period. Apple accounts for about 2.7% of Manchester Financial Inc.’s investment portfolio, making the stock its 8th largest holding. Manchester Financial Inc.’s holdings in Apple were worth $15,433,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Sterling Wealth Management Inc. raised its holdings in Apple by 0.3% in the second quarter. Sterling Wealth Management Inc. now owns 11,579 shares of the iPhone maker’s stock worth $3,351,000 after purchasing an additional 30 shares in the last quarter. Evansbrook LLC boosted its holdings in shares of Apple by 0.4% during the 1st quarter. Evansbrook LLC now owns 8,095 shares of the iPhone maker’s stock valued at $2,054,000 after buying an additional 34 shares in the last quarter. JMG Financial Group Ltd. boosted its holdings in shares of Apple by 0.7% during the 1st quarter. JMG Financial Group Ltd. now owns 5,102 shares of the iPhone maker’s stock valued at $1,295,000 after buying an additional 35 shares in the last quarter. Advocate Investing Services LLC grew its position in shares of Apple by 0.5% in the 2nd quarter. Advocate Investing Services LLC now owns 7,847 shares of the iPhone maker’s stock worth $2,271,000 after buying an additional 39 shares during the period. Finally, Interactive Financial Advisors Inc. increased its stake in shares of Apple by 4.0% in the 4th quarter. Interactive Financial Advisors Inc. now owns 1,051 shares of the iPhone maker’s stock worth $286,000 after acquiring an additional 40 shares in the last quarter. Hedge funds and other institutional investors own 67.73% of the company’s stock.

Apple Stock Up 1.1% AAPL stock opened at $333.02 on Thursday. Apple Inc. has a 1-year low of $243.42 and a 1-year high of $345.34. The business has a fifty day moving average price of $321.97 and a 200-day moving average price of $299.21. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.00 and a quick ratio of 0.93. The stock has a market capitalization of $4.86 trillion, a P/E ratio of 38.19, a P/E/G ratio of 2.86 and a beta of 1.08.

Apple (NASDAQ:AAPL – Get Free Report) last announced its quarterly earnings results on Thursday, July 30th. The iPhone maker reported $2.02 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.89 by $0.13. Apple had a return on equity of 135.46% and a net margin of 27.62%.The firm had revenue of $109.42 billion for the quarter, compared to the consensus estimate of $109.04 billion. During the same period in the prior year, the company posted $1.57 earnings per share. The company’s quarterly revenue was up 16.4% on a year-over-year basis. Equities analysts forecast that Apple Inc. will post 8.74 earnings per share for the current fiscal year. Apple Dividend Announcement The business also recently declared a quarterly dividend, which was paid on Thursday, August 13th. Stockholders of record on Monday, August 10th were issued a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date of this dividend was Monday, August 10th. Apple’s dividend payout ratio (DPR) is presently 12.39%.

Insider Activity In other news, SVP Jennifer Newstead sold 2,399 shares of Apple stock in a transaction that occurred on Tuesday, September 22nd. The shares were sold at an average price of $340.06, for a total value of $815,803.94. Following the completion of the sale, the senior vice president directly owned 44,391 shares in the company, valued at $15,095,603.46. The trade was a 5.13% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Over the last quarter, insiders have sold 11,031 shares of company stock worth $3,535,759. Company insiders own 0.06% of the company’s stock.

Analyst Ratings Changes A number of research analysts recently issued reports on the stock. UBS Group reissued a “buy” rating on shares of Apple in a research report on Thursday, September 17th. KeyCorp restated an “underweight” rating on shares of Apple in a report on Friday, September 4th. Rothschild & Co Redburn set a $400.00 target price on shares of Apple and gave the company a “buy” rating in a report on Monday, August 17th. Barclays reissued an “underweight” rating and issued a $245.00 price target (down from $253.00) on shares of Apple in a research report on Friday, July 31st. Finally, Loop Capital set a $380.00 price target on Apple in a research note on Friday, September 18th. One analyst has rated the stock with a Strong Buy rating, twenty-six have given a Buy rating, thirteen have issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, Apple presently has an average rating of “Moderate Buy” and a consensus price target of $340.14.

Get Our Latest Stock Analysis on AAPL

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

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

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

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

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

Mufg Securities Americas Inc. lifted its holdings in Apple Inc. (NASDAQ:AAPL – Free Report) by 8.9% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 442,363 shares of the iPhone maker’s stock after purchasing an additional 36,213 shares during the period. Apple accounts for about 6.6% of Mufg Securities Americas Inc.’s investment portfolio, making the stock its 2nd biggest holding. Mufg Securities Americas Inc.’s holdings in Apple were worth $128,002,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of AAPL. Prospect Hill Management LLC acquired a new position in Apple during the second quarter valued at approximately $146,370,000. Focus Partners Advisor Solutions LLC acquired a new stake in shares of Apple in the second quarter worth $168,646,000. Wealthfront Advisers LLC acquired a new stake in shares of Apple in the second quarter worth $482,388,000. Satovsky Asset Management LLC bought a new stake in shares of Apple during the 2nd quarter worth $16,064,000. Finally, Saranac Partners Ltd bought a new stake in shares of Apple during the 2nd quarter worth $9,513,000. 67.73% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Apple In other news, SVP Jennifer Newstead sold 2,399 shares of Apple stock in a transaction that occurred on Tuesday, September 22nd. The stock was sold at an average price of $340.06, for a total transaction of $815,803.94. Following the sale, the senior vice president owned 44,391 shares of the company’s stock, valued at approximately $15,095,603.46. This trade represents a 5.13% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last ninety days, insiders sold 11,031 shares of company stock valued at $3,535,759. 0.06% of the stock is currently owned by company insiders.

Apple Stock Performance NASDAQ:AAPL opened at $333.02 on Thursday. The firm’s 50-day moving average is $321.97 and its 200-day moving average is $299.21. Apple Inc. has a 52-week low of $243.42 and a 52-week high of $345.34. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.93 and a current ratio of 1.00. The company has a market cap of $4.86 trillion, a price-to-earnings ratio of 38.19, a PEG ratio of 2.86 and a beta of 1.08. Apple (NASDAQ:AAPL – Get Free Report) last announced its quarterly earnings data on Thursday, July 30th. The iPhone maker reported $2.02 EPS for the quarter, beating analysts’ consensus estimates of $1.89 by $0.13. Apple had a net margin of 27.62% and a return on equity of 135.46%. The business had revenue of $109.42 billion during the quarter, compared to analyst estimates of $109.04 billion. During the same quarter in the prior year, the business earned $1.57 earnings per share. The firm’s revenue for the quarter was up 16.4% on a year-over-year basis. Equities research analysts anticipate that Apple Inc. will post 8.74 earnings per share for the current year.

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

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

Positive Sentiment: Counterpoint Research estimates Apple could sell approximately 6 million iPhone Duo foldable handsets in 2026, despite the device’s premium starting price of $1,999. Pre-orders reportedly begin October 16, with deliveries scheduled for October 23. Apple Predicted To Sell 6 Million iPhone Duo Handsets This Year Positive Sentiment: Early iPhone 18 Pro demand in China is encouraging: first-week sales rose 12% year over year, and Apple captured 33% of smartphone sales during the measured period. Analysts also see consumers showing greater willingness to pay for higher-priced models. Apple iPhone 18 Pro China Launch-Week Sales Rise 12% Positive Sentiment: Reports that Apple will unveil a new smart-home hub at an October 13 event added to expectations for expansion beyond the iPhone. The company is also reportedly renewing its Qualcomm licensing agreement, supporting continuity for its device and connectivity roadmap. Apple Plans Smart-Home Push Positive Sentiment: Broader technology stocks benefited from cooler inflation data, which reduced near-term concerns about additional Federal Reserve rate hikes. Apple also received a favorable endorsement from Jim Cramer ahead of the Duo launch. Neutral Sentiment: New CEO John Ternus is reportedly considering an engineering-focused restructuring, faster product releases and fewer management layers. The changes could improve innovation and execution, but they introduce transition risk and may include layoffs as memory costs rise. Apple’s New CEO Plans Overhaul Negative Sentiment: Bank of America warned that Meta’s Muse and other AI agents could divert product discovery, shopping activity and services revenue away from Apple’s ecosystem, increasing pressure on Siri, Apple Pay and the App Store. Negative Sentiment: Apple patched a zero-day vulnerability reportedly used in targeted attacks involving iPhone crypto wallets. In addition, a UK class-action case over marketplace restrictions was allowed to proceed, creating ongoing legal and reputational risks. Wall Street Analyst Weigh In AAPL has been the topic of several recent analyst reports. JPMorgan Chase & Co. reiterated a “buy” rating on shares of Apple in a report on Monday, September 21st. Phillip Securities upped their price target on shares of Apple from $290.00 to $300.00 and gave the company a “neutral” rating in a report on Monday, September 14th. China Renaissance downgraded Apple from a “buy” rating to a “hold” rating and lowered their price target for the company from $329.00 to $280.00 in a research report on Tuesday, August 4th. Deutsche Bank Aktiengesellschaft lowered Apple from a “buy” rating to a “hold” rating in a research note on Monday, August 17th. Finally, DZ Bank cut Apple from a “buy” rating to a “hold” rating and set a $310.00 price objective for the company. in a research report on Tuesday, August 4th. One research analyst has rated the stock with a Strong Buy rating, twenty-six have given a Buy rating, thirteen have given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $340.14.

Get Our Latest Report on AAPL

Apple Profile (Free Report)

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

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

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Huawei and other Chinese competitors report higher demand for foldables after announcement of the iPhone Duo.

Bloomberg's Ed Ludlow breaks down OpenAI's plan to raise at least $30 billion from investors in a new round of funding after pushing back its plans for an IPO. Plus, President Trump supports using outside auditors to assess the safety of AI systems after meeting with Silicon Valley leaders; and Apple keeps pushing the envelope under new CEO John Ternus with plans to make its foray into the smart-home market.

Jim Cramer just called Apple's first foldable phone kind of astounding and told followers to buy shares before it ships, but a closer look at supply constraints, memory costs, and a one-time earnings boost raises real questions about whether the…

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Apple (NASDAQ:AAPL | AAPL Price Prediction) got a fresh endorsement from Jim Cramer this morning. In a post on X, he told followers to “Buy the stock of Apple because of the DUO, not smart home… Duo is AMAZING”.

The Duo is Apple’s first foldable iPhone. It starts at $1,999 and does not reach stores until October 23. Apple already rose to a 52-week high of $341.07 on September 25, a week after Cramer told viewers the iPhone 18 would not rally the stock. Investors are being asked to pay up for a catalyst that has yet to ship.

Cramer’s Own Receipts on the iPhone 18 On September 18, Cramer said of the new lineup: “The 18 is not going to rally here because it’s not the Duo. The Duo is not until October 23rd.” The stock rallied anyway. That rally came before any Duo shipment.

On September 25, Cramer said Apple and NVIDIA (NASDAQ:NVDA) are the only two stocks he has ever given his highest blessing: “own it, don’t trade it.” Today’s post extends that long-term stance.

Shares traded at $338.27 late this morning, up 2.69% on the day and down 0.44% over the past week. Apple is up 24.77% year to date and 33.45% over the past year. At a P/E near 43 and a market cap around $4.93 trillion, buyers are paying a premium for continued growth.

How the Duo Plugs Into Apple’s Two Revenue Engines Apple’s September 9 event, the first under new CEO John Ternus, pushed buyers upmarket. This fall’s lineup features no base iPhone 18 this fall, just the Pro and Pro Max, and the iPhone 18 lineup starts at $1,200. CNBC’s Fast Money reported that Apple presented the Duo as additive to the Apple ecosystem, with Handoff letting a phone number follow users across iPhones so owners can carry both a foldable and a Pro. The new Apple Upgrade leasing program helps make those price points affordable.

That matters because Apple runs on hardware plus recurring Services. In fiscal Q3 2026, revenue reached $109.42 billion, up 16.4%, and EPS of $2.02 beat the $1.89 consensus, the 9th straight EPS beat. iPhone revenue rose to $54.25 billion from $44.58 billion, while Services grew to $30.74 billion from $27.42 billion, with records in every category. Every premium device sold feeds App Store, iCloud and Apple Pay revenue for years, and the installed base passed 2.5 billion active devices in January.

One caution for experienced readers: Apple’s July 30 8-K filing shows tariff refunds added about 2 percentage points to gross margin and roughly $0.11 to EPS, a one-time lift worth stripping out.

Supply Limits and Memory Costs Could Cap the Launch Management guided September-quarter revenue growth of 9% to 11% and gross margin of 47% to 48%, while expecting supply constraints to increase significantly across iPhone, Mac and iPad. Tim Cook, then CEO, blamed “a 100-year flood on the memory pricing” and said, “We reluctantly raised prices.” A $1,999 foldable only moves the numbers if Apple can build enough of them.

Competition is another variable. Barron’s reported that Bank of America (NYSE:BAC) highlighted an AI threat to Apple from Meta (NASDAQ:META) and its Muse model, per a September 29 headline.

What to Watch Before and After October 23 Keep an eye on Duo shipping times after launch, Siri AI adoption (still gated behind a wait list) and Apple’s fiscal Q4 earnings report, where supply and margin commentary will show whether the Duo thesis reaches the income statement. Apple posts results on its investor relations page. After the July report, shares went from 340 at filing to 308.91 a day later despite a beat, a reminder that expectations run high.

Data Sources Cramer buys Apple Duo call: provided Cramer’s September 30, 2026 X post quote and its timing. Used to frame his Duo-over-smart-home rationale for holding Apple. Contact [email protected] for any questions or corrections.

Apple AAPL CEO John Ternus, just weeks into the job, is moving to overhaul the iPhone maker to speed up product development, broaden its range of devices and run a leaner organization with a greater focus on engineering, Bloomberg News reported. The plans, which Ternus has discussed internally, are the first signs of how Apple's former hardware engineering chief intends to reshape the company after Tim Cook's 15-year tenure as CEO. Apple shares were down 2.23% intraday, as of 12:05 p.m. ET.

Early ideas include relying less on Apple's traditional spring and fall product release schedules and eliminating some middle-management positions to reduce the layers between engineers and senior executives, according to people familiar with the discussions. Cost-cutting efforts are already underway.

Ternus is also looking for new sources of revenue and ways to make more money from existing products. Apple didn't immediately respond to a request for comment.

CEO Buys, CFO Buys: Stocks that are bought by their CEO/CFOs. Insider Cluster Buys: Stocks that multiple company officers and directors have bought. Double Buys: Companies that both Gurus and Insiders are buying Triple Buys: Companies that both Gurus and Insiders are buying, and Company is buying back.

Tim Cook took over as full-time CEO of Apple (AAPL +3.02%) from Steve Jobs on Aug. 24, 2011, when it had a market cap of about $350 billion. He spent 15 years in charge of Apple, expanding the production and sales of Apple's top products and turning the company into a massive cash-generating machine.

John Ternus took over for Cook at the start of September, inheriting a company worth $4.75 trillion. Many thought building on a $350 billion business was a tall order for Cook at the time. Can Ternus repeat history and take the near-$5 trillion Apple to even higher highs?

Former Apple CEO Tim Cook. Image source: Apple.

The law of large numbers The law of large numbers states that as a company grows, its growth rate must slow. To grow a business generating $1 billion in annual revenue by 20% takes just $200 million in incremental sales. But growing a business generating $100 billion in revenue by 20% requires $20 billion in additional sales.

Naysayers have been arguing that Apple must fall prey to the law of large numbers since Tim Cook took over as CEO. A 2012 article in the New York Times argued that if Apple's value increased "just" 20% per year, it would reach a market cap of $3 trillion by 2022. That ridiculously huge number is "bigger than the 2011 gross domestic product of France or Brazil." In fact, Apple's market cap reached $3 trillion at the start of 2022. It's since touched $5 trillion.

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That was the result of a few things.

First, Tim Cook led a massive expansion of Apple's iPhone sales, boosted sales of its other product lines, and introduced the new wearable segment, including Apple Watch and AirPods. He also developed the high-margin services segment into a massive money maker. The result was that revenue climbed from $108 billion in 2011 to $467 billion over the last four quarters, and net income climbed from $26 billion to $129 billion.

Second, Cook initiated record-sized share repurchases. As a result, Apple's share count declined 44% since he took over as CEO. Combined with the fantastic earnings growth, earnings per share climbed nearly 600% under his watch.

Cook also got some help from the market. As he proved capable of growing Apple even larger than the behemoth it was when he took over, the earnings multiple assigned to the stock expanded from about 11 times earnings to 37 times forward earnings expectations.

Ternus takes over a much larger tech company with a much higher earnings multiple. For Apple to keep growing at the pace it did under Cook, it would have to accelerate earnings growth and maintain a high earnings multiple. That will likely require a new ultra-successful product line (possibly artificial intelligence services or augmented reality hardware) and excellent operations management. Ternus, with his engineering background, could be up for the task, but the law of large numbers might finally catch up with Apple, and slower stock price appreciation could be ahead.

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

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

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

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

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

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

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

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

Contact [email protected] for any questions or corrections.

SwitchPoint Financial Planning LLC acquired a new stake in shares of Apple Inc. (NASDAQ:AAPL – Free Report) during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm acquired 5,356 shares of the iPhone maker’s stock, valued at approximately $1,550,000. Apple makes up 0.9% of SwitchPoint Financial Planning LLC’s portfolio, making the stock its 9th largest position.

A number of other hedge funds have also recently bought and sold shares of the company. Avenir Tech Ltd bought a new position in shares of Apple during the second quarter valued at about $29,000. Longfellow Investment Management Co. LLC bought a new stake in Apple in the 2nd quarter worth about $30,000. Lifetime Wealth Management P.C. bought a new stake in Apple in the 4th quarter worth about $41,000. ABS Investment Management LLC purchased a new stake in Apple in the 2nd quarter valued at about $376,168,000. Finally, Basso Capital Management L.P. purchased a new stake in Apple in the 4th quarter valued at about $88,000. 67.73% of the stock is owned by hedge funds and other institutional investors.

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

Positive Sentiment: CEO John Ternus is reportedly considering a leaner, engineering-led structure that could eliminate layers of middle management, accelerate product launches and make Apple more experimental. Investors may view the changes as a response to concerns about slower innovation, particularly in artificial intelligence. Apple CEO overhaul report Positive Sentiment: Apple Pay is reportedly launching in a key market, potentially expanding transaction volume and services revenue. Separately, Apple remains a major customer for TSMC’s advanced 2-nanometer chips, supporting future device performance and product differentiation. Apple Pay launch report Neutral Sentiment: Apple’s large buyback program remains a relative strength among the Magnificent Seven, although the immediate effect is financial support rather than a new growth catalyst. Apple and Nvidia buybacks Negative Sentiment: Bank of America warned that Meta’s Muse could change how consumers search, shop and initiate payments. Even if users continue buying iPhones, AI agents could divert discovery and referral activity away from Apple’s ecosystem, putting pressure on services growth and Apple’s AI strategy. Apple faces threat from Meta Muse Negative Sentiment: Reports that Ternus may plan layoffs as memory-chip costs rise raise concerns about gross-margin pressure and slower near-term earnings growth. Apple has already indicated that higher memory expenses could reduce profit per device. Negative Sentiment: Apple also faces legal and operational overhangs, including a $5.7 billion patent verdict, a revived UK consumer lawsuit involving Amazon marketplace sales, and an emergency iOS security update addressing a flaw that could enable arbitrary code execution. Apple patent verdict Apple Stock Performance Shares of AAPL opened at $329.40 on Wednesday. The firm has a market cap of $4.81 trillion, a PE ratio of 37.78, a PEG ratio of 2.94 and a beta of 1.08. The stock’s fifty day moving average price is $321.83 and its two-hundred day moving average price is $298.67. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.00 and a quick ratio of 0.93. Apple Inc. has a 1 year low of $243.42 and a 1 year high of $345.34. Apple (NASDAQ:AAPL – Get Free Report) last issued its earnings results on Thursday, July 30th. The iPhone maker reported $2.02 earnings per share for the quarter, topping analysts’ consensus estimates of $1.89 by $0.13. The firm had revenue of $109.42 billion during the quarter, compared to analyst estimates of $109.04 billion. Apple had a net margin of 27.62% and a return on equity of 135.46%. The company’s quarterly revenue was up 16.4% on a year-over-year basis. During the same quarter last year, the business earned $1.57 earnings per share. On average, equities research analysts forecast that Apple Inc. will post 8.74 EPS for the current year.

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

Insider Transactions at Apple In other Apple news, SVP Jennifer Newstead sold 2,399 shares of the stock in a transaction on Tuesday, September 22nd. The stock was sold at an average price of $340.06, for a total transaction of $815,803.94. Following the sale, the senior vice president owned 44,391 shares in the company, valued at $15,095,603.46. This represents a 5.13% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Over the last quarter, insiders have sold 11,031 shares of company stock worth $3,535,759. Insiders own 0.06% of the company’s stock.

Analysts Set New Price Targets A number of equities analysts have recently weighed in on the company. China Renaissance downgraded Apple from a “buy” rating to a “hold” rating and cut their target price for the stock from $329.00 to $280.00 in a research note on Tuesday, August 4th. Maxim Group increased their price target on Apple from $350.00 to $380.00 and gave the company a “buy” rating in a research report on Friday, July 31st. Piper Sandler assumed coverage on Apple in a report on Monday, August 17th. They set an “overweight” rating on the stock. Barclays reissued an “underweight” rating and issued a $245.00 price objective (down from $253.00) on shares of Apple in a research report on Friday, July 31st. Finally, Rosenblatt Securities restated a “neutral” rating and issued a $303.00 price objective on shares of Apple in a research note on Thursday, September 10th. One analyst has rated the stock with a Strong Buy rating, twenty-six have assigned a Buy rating, thirteen have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, Apple currently has a consensus rating of “Moderate Buy” and a consensus price target of $340.14.

Read Our Latest Stock Analysis on AAPL

About Apple (Free Report)

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

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

Further Reading Five stocks we like better than Apple CarMax Just Gave Investors a Better Reason to Believe in the Turnaround CoreWeave Comes With Risks: Analysts Split on What Matters Most Bottlenecking the Future: TSMC Prices Out the Competition Fervo Energy Hits Geothermal Milestone: Will It Matter For The 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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RB Capital Management LLC bought a new stake in Apple Inc. (NASDAQ:AAPL – Free Report) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 264,080 shares of the iPhone maker’s stock, valued at approximately $76,414,000. Apple comprises approximately 14.9% of RB Capital Management LLC’s investment portfolio, making the stock its biggest position.

A number of other hedge funds have also recently made changes to their positions in AAPL. Sterling Wealth Management Inc. raised its stake in shares of Apple by 0.3% during the second quarter. Sterling Wealth Management Inc. now owns 11,579 shares of the iPhone maker’s stock valued at $3,351,000 after acquiring an additional 30 shares during the last quarter. Evansbrook LLC grew its stake in shares of Apple by 0.4% in the first quarter. Evansbrook LLC now owns 8,095 shares of the iPhone maker’s stock worth $2,054,000 after purchasing an additional 34 shares during the last quarter. JMG Financial Group Ltd. grew its stake in shares of Apple by 0.7% in the first quarter. JMG Financial Group Ltd. now owns 5,102 shares of the iPhone maker’s stock worth $1,295,000 after purchasing an additional 35 shares during the last quarter. Advocate Investing Services LLC increased its holdings in Apple by 0.5% in the second quarter. Advocate Investing Services LLC now owns 7,847 shares of the iPhone maker’s stock valued at $2,271,000 after purchasing an additional 39 shares during the period. Finally, Interactive Financial Advisors Inc. raised its position in Apple by 4.0% during the 4th quarter. Interactive Financial Advisors Inc. now owns 1,051 shares of the iPhone maker’s stock worth $286,000 after purchasing an additional 40 shares during the last quarter. 67.73% of the stock is owned by institutional investors and hedge funds.

Apple Price Performance AAPL stock opened at $329.40 on Wednesday. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.00 and a quick ratio of 0.93. The company’s 50-day moving average is $321.83 and its 200-day moving average is $298.67. The stock has a market capitalization of $4.81 trillion, a PE ratio of 37.78, a price-to-earnings-growth ratio of 2.94 and a beta of 1.08. Apple Inc. has a 1 year low of $243.42 and a 1 year high of $345.34.

Apple (NASDAQ:AAPL – Get Free Report) last issued its earnings results on Thursday, July 30th. The iPhone maker reported $2.02 EPS for the quarter, beating analysts’ consensus estimates of $1.89 by $0.13. Apple had a return on equity of 135.46% and a net margin of 27.62%.The business had revenue of $109.42 billion during the quarter, compared to analyst estimates of $109.04 billion. During the same period in the previous year, the company posted $1.57 EPS. The firm’s revenue was up 16.4% compared to the same quarter last year. Equities research analysts expect that Apple Inc. will post 8.74 EPS for the current fiscal year. Apple Announces Dividend The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 13th. Shareholders of record on Monday, August 10th were paid a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date of this dividend was Monday, August 10th. Apple’s dividend payout ratio (DPR) is 12.39%.

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

Positive Sentiment: CEO John Ternus is reportedly considering a leaner, engineering-led structure that could eliminate layers of middle management, accelerate product launches and make Apple more experimental. Investors may view the changes as a response to concerns about slower innovation, particularly in artificial intelligence. Apple CEO overhaul report Positive Sentiment: Apple Pay is reportedly launching in a key market, potentially expanding transaction volume and services revenue. Separately, Apple remains a major customer for TSMC’s advanced 2-nanometer chips, supporting future device performance and product differentiation. Apple Pay launch report Neutral Sentiment: Apple’s large buyback program remains a relative strength among the Magnificent Seven, although the immediate effect is financial support rather than a new growth catalyst. Apple and Nvidia buybacks Negative Sentiment: Bank of America warned that Meta’s Muse could change how consumers search, shop and initiate payments. Even if users continue buying iPhones, AI agents could divert discovery and referral activity away from Apple’s ecosystem, putting pressure on services growth and Apple’s AI strategy. Apple faces threat from Meta Muse Negative Sentiment: Reports that Ternus may plan layoffs as memory-chip costs rise raise concerns about gross-margin pressure and slower near-term earnings growth. Apple has already indicated that higher memory expenses could reduce profit per device. Negative Sentiment: Apple also faces legal and operational overhangs, including a $5.7 billion patent verdict, a revived UK consumer lawsuit involving Amazon marketplace sales, and an emergency iOS security update addressing a flaw that could enable arbitrary code execution. Apple patent verdict Insider Activity at Apple In other news, SVP Jennifer Newstead sold 2,399 shares of the company’s stock in a transaction that occurred on Tuesday, September 22nd. The stock was sold at an average price of $340.06, for a total transaction of $815,803.94. Following the transaction, the senior vice president directly owned 44,391 shares of the company’s stock, valued at $15,095,603.46. This represents a 5.13% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders sold a total of 11,031 shares of company stock worth $3,535,759 in the last ninety days. Insiders own 0.06% of the company’s stock.

Analyst Ratings Changes AAPL has been the topic of a number of recent analyst reports. Rosenblatt Securities reaffirmed a “neutral” rating and issued a $303.00 price objective on shares of Apple in a research note on Thursday, September 10th. Loop Capital set a $380.00 target price on shares of Apple in a research report on Friday, September 18th. Citic Securities raised their price target on shares of Apple from $300.00 to $349.00 in a report on Thursday, August 6th. Seaport Research Partners downgraded shares of Apple from a “buy” rating to a “neutral” rating in a research report on Monday, August 17th. Finally, HSBC reaffirmed a “buy” rating and issued a $366.00 price objective on shares of Apple in a research note on Tuesday, September 8th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-six have given a Buy rating, thirteen have assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $340.14.

Check Out Our Latest Report on AAPL

Apple Profile (Free Report)

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

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

Recommended Stories Five stocks we like better than Apple CarMax Just Gave Investors a Better Reason to Believe in the Turnaround CoreWeave Comes With Risks: Analysts Split on What Matters Most Bottlenecking the Future: TSMC Prices Out the Competition Fervo Energy Hits Geothermal Milestone: Will It Matter For The Stock?

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

Wealth Management Strategies Inc. acquired a new position in shares of Apple Inc. (NASDAQ:AAPL – Free Report) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 17,851 shares of the iPhone maker’s stock, valued at approximately $5,165,000. Apple accounts for 2.0% of Wealth Management Strategies Inc.’s portfolio, making the stock its 6th largest position.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in AAPL. WNY Asset Management LLC purchased a new stake in shares of Apple during the second quarter worth $18,851,000. Bank OZK raised its position in shares of Apple by 1.6% in the second quarter. Bank OZK now owns 60,117 shares of the iPhone maker’s stock valued at $17,395,000 after buying an additional 924 shares during the last quarter. Hamilton Capital LLC purchased a new position in shares of Apple in the second quarter worth about $13,162,000. Hayek Kallen Investment Management purchased a new position in shares of Apple in the second quarter worth about $38,366,000. Finally, Old North State Trust LLC acquired a new position in Apple during the second quarter worth about $17,771,000. 67.73% of the stock is owned by hedge funds and other institutional investors.

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

Positive Sentiment: CEO John Ternus is reportedly considering a leaner, engineering-led structure that could eliminate layers of middle management, accelerate product launches and make Apple more experimental. Investors may view the changes as a response to concerns about slower innovation, particularly in artificial intelligence. Apple CEO overhaul report Positive Sentiment: Apple Pay is reportedly launching in a key market, potentially expanding transaction volume and services revenue. Separately, Apple remains a major customer for TSMC’s advanced 2-nanometer chips, supporting future device performance and product differentiation. Apple Pay launch report Neutral Sentiment: Apple’s large buyback program remains a relative strength among the Magnificent Seven, although the immediate effect is financial support rather than a new growth catalyst. Apple and Nvidia buybacks Negative Sentiment: Bank of America warned that Meta’s Muse could change how consumers search, shop and initiate payments. Even if users continue buying iPhones, AI agents could divert discovery and referral activity away from Apple’s ecosystem, putting pressure on services growth and Apple’s AI strategy. Apple faces threat from Meta Muse Negative Sentiment: Reports that Ternus may plan layoffs as memory-chip costs rise raise concerns about gross-margin pressure and slower near-term earnings growth. Apple has already indicated that higher memory expenses could reduce profit per device. Negative Sentiment: Apple also faces legal and operational overhangs, including a $5.7 billion patent verdict, a revived UK consumer lawsuit involving Amazon marketplace sales, and an emergency iOS security update addressing a flaw that could enable arbitrary code execution. Apple patent verdict Apple Trading Down 2.7% Shares of Apple stock opened at $329.40 on Wednesday. The firm has a market capitalization of $4.81 trillion, a price-to-earnings ratio of 37.78, a PEG ratio of 2.94 and a beta of 1.08. Apple Inc. has a fifty-two week low of $243.42 and a fifty-two week high of $345.34. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.93 and a current ratio of 1.00. The stock has a 50 day moving average of $321.83 and a 200 day moving average of $298.67. Apple (NASDAQ:AAPL – Get Free Report) last posted its earnings results on Thursday, July 30th. The iPhone maker reported $2.02 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.89 by $0.13. Apple had a return on equity of 135.46% and a net margin of 27.62%.The company had revenue of $109.42 billion during the quarter, compared to analysts’ expectations of $109.04 billion. During the same quarter last year, the firm earned $1.57 earnings per share. The firm’s quarterly revenue was up 16.4% compared to the same quarter last year. As a group, research analysts predict that Apple Inc. will post 8.74 earnings per share for the current year.

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

Insider Transactions at Apple In other Apple news, SVP Jennifer Newstead sold 2,399 shares of the company’s stock in a transaction dated Tuesday, September 22nd. The shares were sold at an average price of $340.06, for a total value of $815,803.94. Following the transaction, the senior vice president owned 44,391 shares of the company’s stock, valued at $15,095,603.46. This represents a 5.13% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. In the last 90 days, insiders have sold 11,031 shares of company stock valued at $3,535,759. 0.06% of the stock is currently owned by insiders.

Analyst Ratings Changes Several brokerages recently issued reports on AAPL. Maxim Group upped their price objective on shares of Apple from $350.00 to $380.00 and gave the company a “buy” rating in a research note on Friday, July 31st. TD Cowen reissued a “buy” rating and issued a $400.00 target price on shares of Apple in a research note on Thursday, September 10th. KGI Securities cut Apple from an “outperform” rating to a “hold” rating and set a $315.00 target price on the stock. in a report on Monday, June 22nd. Raymond James Financial restated a “market perform” rating on shares of Apple in a research report on Friday, July 31st. Finally, Sanford C. Bernstein reaffirmed an “outperform” rating on shares of Apple in a report on Friday. One analyst has rated the stock with a Strong Buy rating, twenty-six have assigned a Buy rating, thirteen have issued a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $340.14.

Get Our Latest Stock Analysis on Apple

Apple Company Profile (Free Report)

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

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

Further Reading Five stocks we like better than Apple CarMax Just Gave Investors a Better Reason to Believe in the Turnaround CoreWeave Comes With Risks: Analysts Split on What Matters Most Bottlenecking the Future: TSMC Prices Out the Competition Fervo Energy Hits Geothermal Milestone: Will It Matter For The Stock?

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

On Sept. 21, the Nasdaq Composite (^IXIC -0.09%) closed at its all-time high while the S&P 500 (^GSPC -0.17%) closed less than 0.5% from its all-time high. The technology sector is largely responsible for driving the indexes to new heights. As of market close on Sept. 25, it's less than 1% off its all-time high -- by far the best of any sector. Meanwhile, healthcare is down 2.6% from its all-time high, and the other nine sectors are down more than 5% from their highs.

Investors looking for outsize exposure to top growth stocks have come to the right place. The Vanguard S&P 500 ETF (VOO -0.16%) -- which mirrors the performance of the S&P 500 -- has a combined 30% weighting in its five largest holdings -- which are Nvidia (NVDA -0.72%), Apple (AAPL -2.66%), Alphabet (GOOG -0.54%) (GOOGL -0.53%), Microsoft (MSFT -0.05%), and Amazon (AMZN +0.21%). By comparison, the Vanguard Morningstar Mega Cap Growth ETF (MGK -0.05%) has a whopping 51.8% invested in those five stocks alone.

Here's why the Mega Cap Growth ETF stands out as a better buy for growth investors than an S&P 500 ETF, and some risks worth considering before buying.

Image source: Getty Images.

Over two-thirds of MGK is invested in just 10 stocks The Mega Cap Growth ETF has a 0.05% expense ratio, compared with 0.03% for the Vanguard S&P 500 ETF. So it's only marginally more expensive from a fee standpoint -- with 0.05% equating to $5 for every $10,000 invested compared to $3 for the S&P 500 ETF.

The 10 largest holdings in the Mega Cap Growth ETF make up 69% of the fund, while 39.2% of the S&P 500 ETF is invested in its top 10 holdings.

Extreme concentration is a double-edged sword, as it can amplify gains when top stocks are doing well but magnify losses if there's a downturn in a theme shared among top holdings, which, in the case of the largest U.S. growth stocks, is artificial intelligence (AI).

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Mega-cap growth stocks have gotten cheaper Some mega-cap growth stock valuations have been falling because earnings growth rates have been so impressive. The Mega Cap Growth ETF used to trade at a steep premium to the S&P 500 ETF and the Vanguard Morningstar Growth ETF (NYSEMKT: VUG) -- which is less concentrated, with 147 holdings, compared to 56 for the Mega Cap Growth ETF. But the gap has narrowed, as the Mega Cap Growth ETF has a price-to-earnings ratio of 31.2, compared with 31 for the Growth ETF and 25 for the S&P 500 ETF.

As a group, mega-cap growth stocks no longer command premiums over large-cap growth stocks because investors are skeptical that rapid earnings growth can continue and that AI investments will pay off. And that risk is concentrated in today's most valuable companies.

A dose of healthy skepticism is valid. Formerly capital-light and predictable businesses like Amazon, Alphabet, and Microsoft are now capital-intensive and feature higher-risk outlooks. But long-term investors would likely prefer that these companies take risks and bet on multi-year runways for AI-driven growth rather than be overly cautious or deploy capital toward stock buybacks instead of long-term investments. Buybacks would accelerate near-term earnings growth and make valuations even cheaper, but they could come at the expense of long-term market share erosion.

History is littered with examples of former industry leaders that become complacent and assumed their product moats were impenetrable, only to be overtaken by a competitor that wasn't even on their radar -- like Netflix surpassing Blockbuster, Apple leaving BlackBerry in the dust, or International Business Machines failing to pivot to personal computers even though it had a dominant mainframe computer market share.

Scale matters The Vanguard Mega Cap Growth ETF is a good buy for investors who believe today's leading growth companies are well-positioned to capitalize on AI. Nvidia, Broadcom, and Advanced Micro Devices are well-positioned to meet increased demand for AI compute and inference -- especially as AI use cases broaden to agentic AI and physical AI (such as robotics and self-driving cars).

AI's traction depends on people using it in their day-to-day lives and workflows, which makes Apple's role so important. Its integrated product ecosystem and services provide a direct touchpoint between models and users. Apple offers users a variety of AI tools and models to cater to customer preferences rather than betting on only one solution.

Alphabet, Amazon, Microsoft, and Meta Platforms are four of the largest hyperscalers, as they are buying massive amounts of computing to power cloud computing, AI infrastructure, model training, integrated AI software solutions, and more.

Tesla is a leader in robotics and self-driving cars, making it increasingly well-positioned to implement physical AI at scale.

Eli Lilly rounds out the 10 largest holdings in the Mega Cap Growth ETF. It is a leading healthcare company that is using AI in its biotech research and trials. In October 2025, Eli Lilly partnered with Nvidia to build its own AI factory for biotech research, powered by 1,016 Nvidia Blackwell Ultra GPUs -- the most advanced GPU before Rubin.

AI is incredibly capital-intensive, so the companies that can afford to take risks are ultimately the best positioned to capitalize on the technology in the long term. Investors who agree with that thesis will find the Mega Cap Growth ETF one of the best low-cost ETFs to buy now, as it bets big on industry leaders who have the dry powder needed to invest in AI at scale.

Daniel Foelber has positions in Broadcom, Netflix, and Nvidia. The Motley Fool has positions in and recommends Advanced Micro Devices, Alphabet, Amazon, Apple, Broadcom, Eli Lilly, International Business Machines, Meta Platforms, Microsoft, Netflix, Nvidia, Tesla, Vanguard Morningstar Growth ETF, and Vanguard S&P 500 ETF. The Motley Fool recommends BlackBerry. The Motley Fool has a disclosure policy.

Stonebridge Capital Management Inc. bought a new position in shares of Apple Inc. (NASDAQ:AAPL – Free Report) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 58,694 shares of the iPhone maker’s stock, valued at approximately $16,984,000. Apple accounts for 8.2% of Stonebridge Capital Management Inc.’s portfolio, making the stock its 2nd largest position.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Prospect Hill Management LLC bought a new position in Apple in the 2nd quarter valued at approximately $146,370,000. Focus Partners Advisor Solutions LLC purchased a new stake in Apple in the 2nd quarter worth approximately $168,646,000. Wealthfront Advisers LLC bought a new position in Apple in the 2nd quarter worth $482,388,000. Satovsky Asset Management LLC purchased a new stake in shares of Apple during the second quarter worth about $16,064,000. Finally, Saranac Partners Ltd purchased a new position in shares of Apple in the second quarter worth $9,513,000. 67.73% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes A number of analysts have issued reports on the company. Wells Fargo & Company reaffirmed an “overweight” rating and issued a $350.00 price objective (up from $310.00) on shares of Apple in a research note on Friday, July 31st. KeyCorp reiterated an “underweight” rating on shares of Apple in a research report on Friday, September 4th. Bank of America restated a “buy” rating and set a $370.00 price objective on shares of Apple in a report on Wednesday, September 23rd. Citigroup reissued a “buy” rating on shares of Apple in a report on Thursday, September 10th. Finally, Moffett Nathanson reiterated a “neutral” rating and issued a $304.00 target price (up from $270.00) on shares of Apple in a report on Tuesday, September 8th. One investment analyst has rated the stock with a Strong Buy rating, twenty-six have issued a Buy rating, thirteen have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $340.14.

View Our Latest Research Report on AAPL Apple Price Performance Shares of NASDAQ AAPL opened at $338.40 on Tuesday. The firm’s 50 day simple moving average is $321.79 and its 200-day simple moving average is $298.18. The stock has a market capitalization of $4.94 trillion, a price-to-earnings ratio of 38.81, a PEG ratio of 2.96 and a beta of 1.08. Apple Inc. has a 12 month low of $243.42 and a 12 month high of $345.34. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.00 and a quick ratio of 0.93.

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

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

Insider Activity at Apple In other news, SVP Jennifer Newstead sold 2,399 shares of the company’s stock in a transaction on Tuesday, September 22nd. The stock was sold at an average price of $340.06, for a total value of $815,803.94. Following the transaction, the senior vice president owned 44,391 shares of the company’s stock, valued at $15,095,603.46. This represents a 5.13% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Over the last 90 days, insiders have sold 11,031 shares of company stock worth $3,535,759. 0.06% of the stock is currently owned by insiders.

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

Positive Sentiment: Apple’s renewed patent agreement with Qualcomm helps preserve access to important cellular technology and reduces uncertainty surrounding future iPhone launches. The deal also supports Qualcomm’s royalty stream tied to Apple devices. What Is Going on With Qualcomm Stock on Monday? Positive Sentiment: Reports that Apple is increasing orders for TSMC’s next-generation 2-nanometer chips point to continued investment in more powerful and efficient processors for future iPhones and other products. TSMC Ramps Up 2nm Chip Capacity as Apple, Nvidia Orders Jump Neutral Sentiment: Apple’s foldable iPhone Duo and premium-device strategy could lift revenue and expand its addressable market, but the roughly $2,000 price raises questions about demand beyond affluent early adopters. Apple’s Premium iPhone Strategy Faces a Test Beyond Early Adopters Neutral Sentiment: X Corp. and SpaceXAI reportedly moved to dismiss antitrust claims against Apple and OpenAI, removing one legal challenge, although other regulatory matters remain unresolved. Musk’s X Corp and SpaceXAI Drop Apple From AI Antitrust Fight Negative Sentiment: A U.S. jury ordered Apple to pay approximately $5.7 billion to Taction Technology for infringing patents covering haptic feedback used in products such as the iPhone and Apple Watch. Apple denies wrongdoing and plans to appeal, but the potential liability is the largest U.S. patent award of its kind. Apple and Amazon Face Revived UK Consumer Lawsuit Over Product Sales Negative Sentiment: Britain’s Competition Appeal Tribunal revived part of a consumer case alleging that Apple and Amazon restricted competition for Apple products sold through Amazon’s U.K. marketplace. Apple also faces an expanded Indian investigation into alleged costly repairs following an iOS 18 software update, increasing potential legal and reputational risk. Apple and Amazon Face Revived UK Consumer Lawsuit Over Product Sales Apple Profile (Free Report)

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

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

Recommended Stories Five stocks we like better than Apple Six Flags Launches FlexPay—Is There Any FUN Left in the Stock? Brewing Trouble? Starbucks Spills the Beans on 250 Store Closures Stitch Fix Stock Plunges as Guidance Puts the Turnaround on Pause Harley-Davidson Insiders Are Buying: Is HOG Finally Turning Around? Want to see what other hedge funds are holding AAPL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Apple Inc. (NASDAQ:AAPL – Free Report).

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

Transamerica Financial Advisors LLC purchased a new position in shares of Apple Inc. (NASDAQ:AAPL – Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 33,214 shares of the iPhone maker’s stock, valued at approximately $9,611,000. Apple comprises 0.8% of Transamerica Financial Advisors LLC’s investment portfolio, making the stock its 25th biggest position.

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

Apple Stock Performance AAPL opened at $338.40 on Tuesday. The company has a quick ratio of 0.93, a current ratio of 1.00 and a debt-to-equity ratio of 0.66. The stock’s 50 day moving average price is $321.79 and its two-hundred day moving average price is $298.18. The firm has a market capitalization of $4.94 trillion, a P/E ratio of 38.81, a price-to-earnings-growth ratio of 2.96 and a beta of 1.08. Apple Inc. has a 12-month low of $243.42 and a 12-month high of $345.34.

Apple (NASDAQ:AAPL – Get Free Report) last issued its quarterly earnings results on Thursday, July 30th. The iPhone maker reported $2.02 EPS for the quarter, topping analysts’ consensus estimates of $1.89 by $0.13. Apple had a return on equity of 135.46% and a net margin of 27.62%.The company had revenue of $109.42 billion during the quarter, compared to analyst estimates of $109.04 billion. During the same period in the previous year, the company earned $1.57 earnings per share. The company’s quarterly revenue was up 16.4% compared to the same quarter last year. On average, equities analysts forecast that Apple Inc. will post 8.74 earnings per share for the current year. Apple Dividend Announcement The business also recently announced a quarterly dividend, which was paid on Thursday, August 13th. Investors of record on Monday, August 10th were given a dividend of $0.27 per share. The ex-dividend date of this dividend was Monday, August 10th. This represents a $1.08 dividend on an annualized basis and a yield of 0.3%. Apple’s payout ratio is 12.39%.

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

Positive Sentiment: Apple’s renewed patent agreement with Qualcomm helps preserve access to important cellular technology and reduces uncertainty surrounding future iPhone launches. The deal also supports Qualcomm’s royalty stream tied to Apple devices. What Is Going on With Qualcomm Stock on Monday? Positive Sentiment: Reports that Apple is increasing orders for TSMC’s next-generation 2-nanometer chips point to continued investment in more powerful and efficient processors for future iPhones and other products. TSMC Ramps Up 2nm Chip Capacity as Apple, Nvidia Orders Jump Neutral Sentiment: Apple’s foldable iPhone Duo and premium-device strategy could lift revenue and expand its addressable market, but the roughly $2,000 price raises questions about demand beyond affluent early adopters. Apple’s Premium iPhone Strategy Faces a Test Beyond Early Adopters Neutral Sentiment: X Corp. and SpaceXAI reportedly moved to dismiss antitrust claims against Apple and OpenAI, removing one legal challenge, although other regulatory matters remain unresolved. Musk’s X Corp and SpaceXAI Drop Apple From AI Antitrust Fight Negative Sentiment: A U.S. jury ordered Apple to pay approximately $5.7 billion to Taction Technology for infringing patents covering haptic feedback used in products such as the iPhone and Apple Watch. Apple denies wrongdoing and plans to appeal, but the potential liability is the largest U.S. patent award of its kind. Apple and Amazon Face Revived UK Consumer Lawsuit Over Product Sales Negative Sentiment: Britain’s Competition Appeal Tribunal revived part of a consumer case alleging that Apple and Amazon restricted competition for Apple products sold through Amazon’s U.K. marketplace. Apple also faces an expanded Indian investigation into alleged costly repairs following an iOS 18 software update, increasing potential legal and reputational risk. Apple and Amazon Face Revived UK Consumer Lawsuit Over Product Sales Insider Buying and Selling In other Apple news, SVP Jennifer Newstead sold 2,399 shares of the stock in a transaction on Tuesday, September 22nd. The shares were sold at an average price of $340.06, for a total value of $815,803.94. Following the completion of the sale, the senior vice president directly owned 44,391 shares of the company’s stock, valued at $15,095,603.46. This represents a 5.13% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In the last ninety days, insiders have sold 11,031 shares of company stock worth $3,535,759. 0.06% of the stock is owned by corporate insiders.

Analyst Ratings Changes AAPL has been the topic of several analyst reports. Wedbush reiterated an “outperform” rating and set a $400.00 price target on shares of Apple in a report on Friday, June 5th. Arete Research boosted their price objective on shares of Apple from $305.00 to $335.00 and gave the stock a “buy” rating in a research note on Wednesday, June 24th. Seaport Research Partners downgraded shares of Apple from a “buy” rating to a “neutral” rating in a report on Monday, August 17th. DZ Bank downgraded shares of Apple from a “buy” rating to a “hold” rating and set a $310.00 price objective for the company. in a report on Tuesday, August 4th. Finally, DA Davidson reiterated a “neutral” rating and issued a $270.00 target price on shares of Apple in a research note on Wednesday, September 2nd. One equities research analyst has rated the stock with a Strong Buy rating, twenty-six have issued a Buy rating, thirteen have assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $340.14.

Read Our Latest Research Report on Apple

About Apple (Free Report)

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

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

See Also Five stocks we like better than Apple Six Flags Launches FlexPay—Is There Any FUN Left in the Stock? Brewing Trouble? Starbucks Spills the Beans on 250 Store Closures Stitch Fix Stock Plunges as Guidance Puts the Turnaround on Pause Harley-Davidson Insiders Are Buying: Is HOG Finally Turning Around? 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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Stonehage Fleming Financial Services Holdings Ltd acquired a new position in shares of Apple Inc. (NASDAQ:AAPL – Free Report) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 11,705 shares of the iPhone maker’s stock, valued at approximately $3,387,000.

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

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

Positive Sentiment: Apple’s renewed patent agreement with Qualcomm helps preserve access to important cellular technology and reduces uncertainty surrounding future iPhone launches. The deal also supports Qualcomm’s royalty stream tied to Apple devices. What Is Going on With Qualcomm Stock on Monday? Positive Sentiment: Reports that Apple is increasing orders for TSMC’s next-generation 2-nanometer chips point to continued investment in more powerful and efficient processors for future iPhones and other products. TSMC Ramps Up 2nm Chip Capacity as Apple, Nvidia Orders Jump Neutral Sentiment: Apple’s foldable iPhone Duo and premium-device strategy could lift revenue and expand its addressable market, but the roughly $2,000 price raises questions about demand beyond affluent early adopters. Apple’s Premium iPhone Strategy Faces a Test Beyond Early Adopters Neutral Sentiment: X Corp. and SpaceXAI reportedly moved to dismiss antitrust claims against Apple and OpenAI, removing one legal challenge, although other regulatory matters remain unresolved. Musk’s X Corp and SpaceXAI Drop Apple From AI Antitrust Fight Negative Sentiment: A U.S. jury ordered Apple to pay approximately $5.7 billion to Taction Technology for infringing patents covering haptic feedback used in products such as the iPhone and Apple Watch. Apple denies wrongdoing and plans to appeal, but the potential liability is the largest U.S. patent award of its kind. Apple and Amazon Face Revived UK Consumer Lawsuit Over Product Sales Negative Sentiment: Britain’s Competition Appeal Tribunal revived part of a consumer case alleging that Apple and Amazon restricted competition for Apple products sold through Amazon’s U.K. marketplace. Apple also faces an expanded Indian investigation into alleged costly repairs following an iOS 18 software update, increasing potential legal and reputational risk. Apple and Amazon Face Revived UK Consumer Lawsuit Over Product Sales Apple Stock Down 0.8% Shares of AAPL opened at $338.40 on Tuesday. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.93 and a current ratio of 1.00. The company has a 50-day simple moving average of $321.79 and a 200-day simple moving average of $298.18. Apple Inc. has a 52 week low of $243.42 and a 52 week high of $345.34. The firm has a market capitalization of $4.94 trillion, a P/E ratio of 38.81, a P/E/G ratio of 2.96 and a beta of 1.08. Apple (NASDAQ:AAPL – Get Free Report) last released its earnings results on Thursday, July 30th. The iPhone maker reported $2.02 earnings per share for the quarter, topping analysts’ consensus estimates of $1.89 by $0.13. The business had revenue of $109.42 billion for the quarter, compared to the consensus estimate of $109.04 billion. Apple had a return on equity of 135.46% and a net margin of 27.62%.The firm’s revenue for the quarter was up 16.4% compared to the same quarter last year. During the same period last year, the business earned $1.57 earnings per share. On average, equities research analysts expect that Apple Inc. will post 8.74 earnings per share for the current year.

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

Analysts Set New Price Targets Several research analysts have weighed in on AAPL shares. CICC Research upped their target price on Apple from $310.00 to $340.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 4th. Rosenblatt Securities reissued a “neutral” rating and issued a $303.00 target price on shares of Apple in a research report on Thursday, September 10th. KGI Securities lowered shares of Apple from an “outperform” rating to a “hold” rating and set a $315.00 price target on the stock. in a research note on Monday, June 22nd. DZ Bank downgraded shares of Apple from a “buy” rating to a “hold” rating and set a $310.00 price target on the stock. in a report on Tuesday, August 4th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Apple in a report on Tuesday, September 8th. One research analyst has rated the stock with a Strong Buy rating, twenty-six have issued a Buy rating, thirteen have issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $340.14.

Get Our Latest Analysis on AAPL

Insider Activity In other Apple news, SVP Jennifer Newstead sold 2,399 shares of the business’s stock in a transaction on Tuesday, September 22nd. The stock was sold at an average price of $340.06, for a total value of $815,803.94. Following the transaction, the senior vice president owned 44,391 shares of the company’s stock, valued at approximately $15,095,603.46. The trade was a 5.13% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have sold a total of 11,031 shares of company stock valued at $3,535,759 in the last three months. Insiders own 0.06% of the company’s stock.

Apple Profile (Free Report)

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

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

Featured Articles Five stocks we like better than Apple Six Flags Launches FlexPay—Is There Any FUN Left in the Stock? Brewing Trouble? Starbucks Spills the Beans on 250 Store Closures Stitch Fix Stock Plunges as Guidance Puts the Turnaround on Pause Harley-Davidson Insiders Are Buying: Is HOG Finally Turning Around?

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

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

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

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

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

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

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

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

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

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

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

powered by

AAPL (buy)

Buy AAPL. The stock drop is driven by uncertainty around management/process changes, but the article also signals Apple is already cutting and reorganizing to move faster and leaner—exactly what investors want after a period of slower execution. BofA keeps a Buy rating and argues Apple’s installed base, trust, and privacy tech can blunt AI-agent competition. If restructuring improves engineering throughput and product cadence, the market will re-rate quickly.

Key Risk: Ternus’ changes slow product delivery and weaken the iPhone/services flywheel, causing sustained revenue disappointment.

META (sell)

Sell META. The article flags Muse AI as a potential threat to Apple’s ecosystem, and Muse is tied to commerce and “product discovery/referrals/transaction initiation.” If Muse gains traction, it can pull engagement and transactions away from Apple’s default paths—hurting Apple’s ecosystem economics. META is the most direct beneficiary of that shift, so the risk is that Apple’s ecosystem weakens while META’s AI assistant adoption accelerates.

Key Risk: Muse adoption stalls or gets blocked/neutralized, removing the ecosystem shift that would otherwise benefit META.

Apple shares AAPL fell nearly 2% on Tuesday as investors assessed reports that Chief Executive John Ternus is considering changes to the company's management structure and product development process.

According to Bloomberg, Ternus is weighing measures aimed at making Apple more engineering-focused, faster and leaner.

One potential change would involve reducing layers of middle management separating engineers from senior leadership.

The report did not specify how many positions could be affected or provide a timetable for any changes.

The potential restructuring would come less than a month after Ternus officially succeeded Tim Cook as Apple's CEO on Sept. 1, 2026.

Ternus is also reportedly considering changes to Apple's traditional spring and fall product-launch cycles.

The moves would represent some of the first significant organizational changes under his leadership.

The reported restructuring forms part of a broader cost-cutting effort and an attempt to identify additional revenue opportunities, including increasing revenue from existing products and services, said the Bloomberg report.

Ternus previously led Apple's hardware engineering organization.

Apple's hardware engineering division has also started cutting engineering program manager positions over the past two weeks, according to the report.

Roughly half a dozen directors were affected. The roles are responsible for managing timelines and coordinating work between teams.

Affected employees will have an opportunity to find other positions within Apple before leaving the company.

Apple has also reduced teams associated with the Vision Pro and Siri digital assistant, according to previous reports.

The company has cut some employees working on its Fitness+ service and has reportedly been evaluating the service's future as its Health app increasingly overlaps with it.

The company also considered cutting roughly 5,000 AppleCare customer service positions during the summer, although that plan was ultimately put on hold.

Apple's stock decline also came as Bank of America reiterated its Buy rating on the company while warning about potential changes to consumer behaviour driven by artificial intelligence.

The bank said concerns surrounding Meta's Muse AI assistant may be overstated but identified a potential risk to Apple's ecosystem.

Bank of America analyst Wamsi Mohan said Apple could continue to retain handset sales while losing some activity related to product discovery, referrals and transaction initiation.

Muse is an AI agent designed to perform tasks including browsing websites, completing forms and continuing work after users leave the app.

It has also gained access to commerce services from Shopify, Expedia and PayPal.

Amazon has blocked Muse.

Bank of America said Apple's large installed base, user trust and privacy-focused technology could help offset the emerging competitive pressure.

Apple's updated Siri, released with iOS 27, uses Apple Foundation Models and Private Cloud Compute.

However, Mohan said Siri currently lacks some of Muse's background task capabilities and broader third-party actions.

Apple is replacing variable cloud-token charges with expensive hardware whose utilization determines the savings. Summary

Apple’s enterprise-AI pitch turns inference spending into an upfront hardware decision.

Apple AAPL, the iPhone maker and chip designer, pitched its new desktops as a way for businesses to run AI without paying for every cloud request. Shares fell about 1.5% to $333.33 around 10:10 a.m. EST Tuesday. The bigger question for investors is whether that pitch can turn Macs into a meaningful business expense for AI teams.

Apple says the M6 Mac mini delivers up to four times faster AI performance than its predecessor. In a demonstration reported by Reuters, four connected Mac Studios ran a trillion-parameter model using one wall outlet. That is a striking showcase, but a demonstration does not tell buyers what their workloads will cost to run day after day.

Owning the hardware could make sense for steady, private AI workloads. It also leaves customers paying upfront and managing capacity themselves. At $333.33, the shares sit 16.03% above the chart's $287.27 GF Value estimate. Investors are already paying a premium; Apple still has to show that businesses will buy enough of these machines to matter.

Disclosures I/we have no positions in any stocks mentioned, and have no plans to buy any new positions in the stocks mentioned within the next 72 hours.

Click for the complete disclosure

Pure Financial Advisors LLC bought a new stake in Apple Inc. (NASDAQ:AAPL – Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 312,073 shares of the iPhone maker’s stock, valued at approximately $90,302,000. Apple makes up approximately 1.1% of Pure Financial Advisors LLC’s investment portfolio, making the stock its 15th biggest position.

Other institutional investors and hedge funds also recently modified their holdings of the company. Berkshire Hathaway Inc bought a new stake in shares of Apple in the second quarter valued at $65,950,297,000. Bank of America Corp DE bought a new position in shares of Apple in the second quarter worth $36,986,090,000. Legal & General Group Plc bought a new stake in shares of Apple during the second quarter valued at about $30,443,242,000. Deutsche Bank AG purchased a new stake in shares of Apple in the second quarter worth about $13,658,359,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in shares of Apple in the second quarter worth about $10,588,946,000. 67.73% of the stock is owned by hedge funds and other institutional investors.

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

Positive Sentiment: Apple’s renewed patent agreement with Qualcomm helps preserve access to important cellular technology and reduces uncertainty surrounding future iPhone launches. The deal also supports Qualcomm’s royalty stream tied to Apple devices. What Is Going on With Qualcomm Stock on Monday? Positive Sentiment: Reports that Apple is increasing orders for TSMC’s next-generation 2-nanometer chips point to continued investment in more powerful and efficient processors for future iPhones and other products. TSMC Ramps Up 2nm Chip Capacity as Apple, Nvidia Orders Jump Neutral Sentiment: Apple’s foldable iPhone Duo and premium-device strategy could lift revenue and expand its addressable market, but the roughly $2,000 price raises questions about demand beyond affluent early adopters. Apple’s Premium iPhone Strategy Faces a Test Beyond Early Adopters Neutral Sentiment: X Corp. and SpaceXAI reportedly moved to dismiss antitrust claims against Apple and OpenAI, removing one legal challenge, although other regulatory matters remain unresolved. Musk’s X Corp and SpaceXAI Drop Apple From AI Antitrust Fight Negative Sentiment: A U.S. jury ordered Apple to pay approximately $5.7 billion to Taction Technology for infringing patents covering haptic feedback used in products such as the iPhone and Apple Watch. Apple denies wrongdoing and plans to appeal, but the potential liability is the largest U.S. patent award of its kind. Apple and Amazon Face Revived UK Consumer Lawsuit Over Product Sales Negative Sentiment: Britain’s Competition Appeal Tribunal revived part of a consumer case alleging that Apple and Amazon restricted competition for Apple products sold through Amazon’s U.K. marketplace. Apple also faces an expanded Indian investigation into alleged costly repairs following an iOS 18 software update, increasing potential legal and reputational risk. Apple and Amazon Face Revived UK Consumer Lawsuit Over Product Sales Analyst Ratings Changes Several equities analysts recently commented on the company. Maxim Group boosted their target price on Apple from $350.00 to $380.00 and gave the stock a “buy” rating in a research report on Friday, July 31st. Loop Capital set a $380.00 price target on Apple in a research note on Friday, September 18th. Bank of America reiterated a “buy” rating and set a $370.00 price target on shares of Apple in a research report on Wednesday, September 23rd. UBS Group reissued a “buy” rating on shares of Apple in a research note on Thursday, September 17th. Finally, BTIG Research assumed coverage on shares of Apple in a research note on Monday, August 17th. They set a “neutral” rating for the company. One analyst has rated the stock with a Strong Buy rating, twenty-six have given a Buy rating, thirteen have assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $340.14. Check Out Our Latest Analysis on Apple

Apple Price Performance Shares of NASDAQ:AAPL opened at $338.40 on Tuesday. The company has a market capitalization of $4.94 trillion, a P/E ratio of 38.81, a P/E/G ratio of 2.96 and a beta of 1.08. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.00 and a quick ratio of 0.93. The firm’s 50 day simple moving average is $321.79 and its two-hundred day simple moving average is $298.18. Apple Inc. has a 1-year low of $243.42 and a 1-year high of $345.34.

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

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

Insider Buying and Selling at Apple In related news, SVP Jennifer Newstead sold 2,399 shares of the business’s stock in a transaction that occurred on Tuesday, September 22nd. The stock was sold at an average price of $340.06, for a total value of $815,803.94. Following the completion of the sale, the senior vice president owned 44,391 shares in the company, valued at approximately $15,095,603.46. The trade was a 5.13% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders sold 11,031 shares of company stock worth $3,535,759 in the last ninety days. 0.06% of the stock is currently owned by company insiders.

About Apple (Free Report)

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

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

Read More Five stocks we like better than Apple Six Flags Launches FlexPay—Is There Any FUN Left in the Stock? Brewing Trouble? Starbucks Spills the Beans on 250 Store Closures Stitch Fix Stock Plunges as Guidance Puts the Turnaround on Pause Harley-Davidson Insiders Are Buying: Is HOG Finally Turning Around?

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

Redwood Investment Management LLC acquired a new stake in Apple Inc. (NASDAQ:AAPL – Free Report) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 55,173 shares of the iPhone maker’s stock, valued at approximately $15,965,000. Apple accounts for 1.6% of Redwood Investment Management LLC’s investment portfolio, making the stock its 12th largest position.

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

Analysts Set New Price Targets A number of research analysts have commented on AAPL shares. Wedbush reiterated an “outperform” rating and set a $400.00 price objective on shares of Apple in a research note on Friday, June 5th. Daiwa Securities Group upped their price objective on Apple from $325.00 to $335.00 and gave the stock an “outperform” rating in a research note on Tuesday, August 11th. UBS Group reaffirmed a “buy” rating on shares of Apple in a report on Thursday, September 17th. Needham & Company LLC restated a “hold” rating on shares of Apple in a research note on Tuesday, September 8th. Finally, China Renaissance downgraded Apple from a “buy” rating to a “hold” rating and cut their target price for the stock from $329.00 to $280.00 in a research report on Tuesday, August 4th. One investment analyst has rated the stock with a Strong Buy rating, twenty-six have assigned a Buy rating, thirteen have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, Apple currently has an average rating of “Moderate Buy” and an average target price of $340.14.

View Our Latest Stock Analysis on AAPL Insider Buying and Selling In other news, SVP Jennifer Newstead sold 2,399 shares of the firm’s stock in a transaction dated Tuesday, September 22nd. The stock was sold at an average price of $340.06, for a total transaction of $815,803.94. Following the completion of the sale, the senior vice president directly owned 44,391 shares of the company’s stock, valued at $15,095,603.46. This trade represents a 5.13% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders sold a total of 11,031 shares of company stock valued at $3,535,759 in the last quarter. Insiders own 0.06% of the company’s stock.

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

Positive Sentiment: Apple’s renewed patent agreement with Qualcomm helps preserve access to important cellular technology and reduces uncertainty surrounding future iPhone launches. The deal also supports Qualcomm’s royalty stream tied to Apple devices. What Is Going on With Qualcomm Stock on Monday? Positive Sentiment: Reports that Apple is increasing orders for TSMC’s next-generation 2-nanometer chips point to continued investment in more powerful and efficient processors for future iPhones and other products. TSMC Ramps Up 2nm Chip Capacity as Apple, Nvidia Orders Jump Neutral Sentiment: Apple’s foldable iPhone Duo and premium-device strategy could lift revenue and expand its addressable market, but the roughly $2,000 price raises questions about demand beyond affluent early adopters. Apple’s Premium iPhone Strategy Faces a Test Beyond Early Adopters Neutral Sentiment: X Corp. and SpaceXAI reportedly moved to dismiss antitrust claims against Apple and OpenAI, removing one legal challenge, although other regulatory matters remain unresolved. Musk’s X Corp and SpaceXAI Drop Apple From AI Antitrust Fight Negative Sentiment: A U.S. jury ordered Apple to pay approximately $5.7 billion to Taction Technology for infringing patents covering haptic feedback used in products such as the iPhone and Apple Watch. Apple denies wrongdoing and plans to appeal, but the potential liability is the largest U.S. patent award of its kind. Apple and Amazon Face Revived UK Consumer Lawsuit Over Product Sales Negative Sentiment: Britain’s Competition Appeal Tribunal revived part of a consumer case alleging that Apple and Amazon restricted competition for Apple products sold through Amazon’s U.K. marketplace. Apple also faces an expanded Indian investigation into alleged costly repairs following an iOS 18 software update, increasing potential legal and reputational risk. Apple and Amazon Face Revived UK Consumer Lawsuit Over Product Sales Apple Stock Down 0.8% Shares of NASDAQ:AAPL opened at $338.40 on Tuesday. The company has a market cap of $4.94 trillion, a PE ratio of 38.81, a price-to-earnings-growth ratio of 2.96 and a beta of 1.08. The firm has a 50 day simple moving average of $321.79 and a 200 day simple moving average of $298.18. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.93 and a current ratio of 1.00. Apple Inc. has a 52 week low of $243.42 and a 52 week high of $345.34.

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

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

Apple Profile (Free Report)

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

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

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