AAPL market-structure snapshot
Latest close on July 24, 2026: $333.02 (+3.5% on the latest daily bar). HMA21 / HMA55: $333.97 / $320.20. 200DMA: $275.98. Relative volume: 0.74x the 20-day average.
Latest close on July 24, 2026: $333.02 (+3.5% on the latest daily bar). HMA21 / HMA55: $333.97 / $320.20. 200DMA: $275.98. Relative volume: 0.74x the 20-day average.
AAPL latest SEC/Yahoo fundamental and valuation snapshot
Latest comparable filing period: 2026 Q2 ending 2026-03-28; filed 2026-05-01. Comparable growth: revenue +16.6% YoY; net income +19.4% YoY; diluted EPS +21.8% YoY.
Latest comparable filing period: 2026 Q2 ending 2026-03-28; filed 2026-05-01.
Comparable growth: revenue +16.6% YoY; net income +19.4% YoY; diluted EPS +21.8% YoY.
Quality and cash conversion: net margin 26.6% (+62 bp YoY); six-month YTD SEC free-cash-flow proxy $78.28B (+63.5% YoY).
Valuation snapshot: trailing P/E 40.3x; forward P/E 34.5x; EV/EBITDA 30.7x; P/S 10.8x.
Cash generation improved versus the comparable period.
Apple’s performance expectations have been digested by the market, and service and gross profit margin guidance are the key variables (Morgan Stanley)
Product revenue is expected to exceed expectations, boosted by iPhone pricing and shipments, but slowing service growth and pressure on gross profit margins pose risks. The report pointed out that the market has digested the solid performance expectations in advance, and the stock price is at a high level. Even if the revenue and EPS are better than the consensus, it is difficult to follow the rise significantly.
Product revenue is expected to exceed expectations, boosted by iPhone pricing and shipments, but slowing service growth and pressure on gross profit margins pose risks. The report pointed out that the market has digested the solid performance expectations in advance, and the stock price is at a high level. Even if the revenue and EPS are better than the consensus, it is difficult to follow the rise significantly.
Apple's AI server chips face challenges, which may benefit Nvidia (Morgan Stanley)
The Morgan Stanley report pointed out that Apple's AI server chips (including M2 Ultra and the first-generation ASIC "Baltra") may face performance challenges, which may cause Siri AI to perform less than expected, or force Apple to use more expensive NVIDIA (NVDA) chips in Google Cloud. The first-generation Baltra ASIC is planned to be mass-produced in small quantities in the first half of 2027, and the second-generation ASIC is expected to be launched in 2028. The market has high expectations for Apple's AI capabilities, but chip-level challenges may delay the large-scale deployment of its AI capabilities.
The Morgan Stanley report pointed out that Apple's AI server chips (including M2 Ultra and the first-generation ASIC "Baltra") may face performance challenges, which may cause Siri AI to perform less than expected, or force Apple to use more expensive NVIDIA (NVDA) chips in Google Cloud. The first-generation Baltra ASIC is planned to be mass-produced in small quantities in the first half of 2027, and the second-generation ASIC is expected to be launched in 2028. The market has high expectations for Apple's AI capabilities, but chip-level challenges may delay the large-scale deployment of its AI capabilities.
