-0.11% to $305.59 from $305.93
What moved AAPL
- Rothschild & Co Redburn upgraded Apple to Buy from Neutral and raised its price target to $400 from $260.
- Analyst Timm Schulze-Melander cited Apple’s planned entry into the premium foldable smartphone market, forecasting sales of 14 million iPhone Ultra units in fiscal 2027 at an estimated $2,199 price point.
- The firm projects iPhone unit sales growing at a 12% compound annual rate through fiscal 2030, as much as 14 percentage points above Wall Street consensus.
Sources: Investing.com · Seeking Alpha · Yahoo Finance
+0.22% to $305.93 from $305.26
What moved AAPL
- Apple asked the court overseeing its case with Epic Games to let it collect a fee of up to 15% on U.S. purchases made through external payment links.
- The proposed tiered structure includes a 15% cut for apps that otherwise pay Apple’s standard 30% in-app commission, 10% for apps in Apple’s News, Video and Mini Apps partner programs and subscription renewals, and 5% for Small Business Program participants.
- The filing follows the Supreme Court’s rejection of Apple’s bid to pause further lower-court action in the long-running Epic Games dispute, forcing Apple to disclose its planned fee structure.
Sources: TechCrunch · 9to5Mac
-1.09% to $304.91 from $308.26
What moved AAPL
- Apple services chief Eddy Cue told staff in an internal memo that Jennifer Bailey, vice president overseeing Apple Pay and Wallet, will retire at the end of October after more than two decades at the company.
- Bailey led the 2014 launch of Apple Pay and later oversaw the rollout of Apple Wallet and Apple Card.
- Apple said it will announce a succession plan before Bailey’s transition at the end of October.
- Separately, Apple extended its display-panel inventory holding period from four weeks to six weeks, a shift reported alongside increased OLED panel purchases from Samsung and LG Display to support iPhone 17 demand.
Sources: Bloomberg · MacRumors · 9to5Mac · GuruFocus
-1.62% to $308.26 from $313.33
What moved AAPL
- Jefferies downgraded Apple to ‘Underperform’ from ‘Hold’ and lowered its price target, citing supply-chain checks indicating Apple canceled a planned all-glass iPhone that had been expected to launch in September 2027.
- The firm said poor production yields drove the cancellation, calling it a setback to Apple’s plan to introduce higher-priced iPhones and expand margins; the shelved model reportedly carried an estimated blended average selling price of about $2,060.
- Jefferies cut its forecast for iPhone average-selling-price growth between fiscal 2026 and fiscal 2031 to 6.8% from 9%, saying the foldable iPhone is now the main remaining driver of higher iPhone pricing.
- Separately, Apple is reportedly considering raising iPhone 17 prices as part of a broader round of increases across its lineup tied to a surge in memory-chip costs, following similar adjustments already made to Mac, iPad, Apple TV, Vision Pro and HomePod pricing.
- TrendForce data cited in reporting shows memory-chip costs have risen roughly sevenfold since last year, a factor reportedly slowing production of Apple’s new A20 Pro processor because of RAM shortages.
Sources: CNBC · Gurufocus · Blockonomi · Tech Startups