MacDailyNews

Apple’s iPhone hits record 49% global smartphone revenue share in Q2 2026

MacDailyNews — Fri, 31 Jul 2026 21:00:33 +0000

Apple’s iPhone 17 Pro Max

Apple’s iPhone captured its highest-ever second-quarter global smartphone revenue share of 49% in Q2 2026, according to Counterpoint Research’s latest Market Monitor data. The company’s smartphone revenue rose 22% year-over-year, fueled by a 13% increase in shipments and an 8% rise in average selling price (ASP), even as the broader market saw volumes decline.

Global smartphone revenue grew 7% YoY to a record $109 billion for any second quarter, despite a shipment slump. The disconnect was driven by a 17% jump in industry ASP to a Q2 record of $400, reflecting a sustained shift toward premium devices and memory-related price increases across most Android manufacturers.

Apple’s performance stood out because it largely avoided the steep price hikes that competitors implemented to offset rising bill-of-materials costs from the ongoing memory shortage. Research Director Tarun Pathak noted that growth was led by sustained demand for the iPhone 17 lineup—particularly the base iPhone 17 and iPhone 17 Pro Max—which kept the brand’s mix skewed toward premium models. “Unlike peers that pushed through steep price increases, Apple kept pricing largely stable, reflecting its ability to absorb rising BOM costs and remain insulated from the memory crisis,” Pathak said. He added that Apple will likely raise prices in coming quarters.

This pricing discipline strengthened Apple’s competitive position, enabling simultaneous gains in both volume and value while much of the market contracted. Senior Analyst Shilpi Jain observed that the industry has entered a phase where value, rather than pure shipment volume, is the primary growth lever. Rising component costs have accelerated a shift away from entry-level volume strategies toward higher-storage configurations, premium models, and financing options such as installment plans and trade-ins, especially in emerging markets.

Samsung ranked second with a 16% revenue share. Its revenue and shipments each rose 9% YoY, supported by strength in North America and the Middle East & Africa, though its ASP remained relatively flat. Xiaomi posted the steepest shipment decline among the top five brands at 26% YoY; revenue fell 17% despite a 13% ASP increase. OPPO and vivo revenues declined 10% and 11% respectively, even with ASP gains of 9% and 13%.

MacDailyNews Take: The iPhone 17 family’s continued strength allowed Apple to expand its revenue dominance in a market where premiumization and higher prices are offsetting weaker unit volumes. With memory constraints expected to persist, Apple’s ability to maintain demand without aggressive price increases positioned it as the clear standout in Q2 2026 revenue share.

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Apple loses some $400 billion in a single trading day

MacDailyNews — Fri, 31 Jul 2026 20:00:00 +0000

Apple shares dropped nearly 10% on Friday following a disappointing outlook that highlighted the company’s struggles to secure enough components amid an AI-driven data center boom straining global supply chains.

The decline represents the stock’s worst single-day performance since the pandemic-driven selloff in March 2020. It erases some $400 billion from Apple’s market capitalization and hand the title of the world’s most valuable company back to AI chip leader Nvidia, just days after Apple had reclaimed it.

Outgoing CEO Tim Cook, long regarded as an “Operations Genius,” described the shortages as “very significant” during his final earnings call before transitioning to executive chairman in September, with John Ternus set to succeed him. Cook said Apple had limited options to address the constraints.

“If even at Apple’s scale they are saying they are out of all supply chain flexibility, it’s really bad for everyone,” Ben Bajarin, CEO of tech consultant Creative Strategies, told Reuters.

Big Tech firms have been aggressively securing advanced chip-making capacity and memory chips to fuel AI data centers, driving shortages and higher prices that are expected to shrink both the personal computer and smartphone markets this year.

Apple had previously mitigated some of the impact from rising memory costs by relying on stockpiled inventory. However, Cook noted that this buffer is diminishing, while processor shortages are preventing the company from fully meeting strong demand for iPhones and Macs.

The company’s forecast for the current quarter called for revenue growth of 9% to 11%, falling short of Wall Street’s roughly 12% estimate. Softer growth in the services business also tempered otherwise solid June-quarter results.

Services weakness concerns investors

The slowdown in services raised particular concerns because it occurred alongside a period of robust iPhone sales. Services typically benefit from App Store commissions and include offerings such as Apple Music and the Apple TV streaming service.

Analysts warned that any further pressure on iPhone sales — potentially from expected price increases with the new lineup typically launched in September — could deepen the services softness.

Morgan Stanley analysts noted that Apple’s leverage over the supply chain appears diminished and that AI has not yet provided a clear measurable boost to products or services, with future monetization still uncertain. They added that App Store softness might even stem from AI shifting how customers spend their time.

Some analysts remained more optimistic, pointing out that the iPhone has previously absorbed price hikes without major demand damage. A recent U.S. leasing arrangement with Klarna, offering monthly payment plans for Apple devices, could also help offset higher prices.

At least four brokerages lowered their price targets for Apple shares, while three raised them. The median target moved to $330—$3 below the previous closing price according to LSEG data. The stock had gained 22.7% year-to-date through Thursday’s close.

MacDailyNews Take: For perspective, Chevron is worth $392 billion, Caterpillar: $378 billion, and Oracle: $373 billion. Apple today lost more than Chevron, Caterpillar, or Oracle is worth in their entirety. Overreact much, Mr. Market?

Wild overreactions like this are things of beauty! Embrace and profit from them!

Beloved interns, please Tap That Keg! Three cheers for today’s AAPL deep, deep discount! Prost, Everyone!

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Apple slides after supply shortages hurt sales forecast

MacDailyNews — Fri, 31 Jul 2026 19:00:10 +0000

Apple tumbled in late trading after component shortages weighed on the company’s sales forecast, signaling that industrywide supply constraints are taking a bigger toll than anticipated.

Revenue will rise 9% to 11% in the fiscal fourth quarter, which runs through September, the company said on a post-earnings conference call Thursday. Analysts had estimated growth of more than 12% in the period, which is likely to be the debut quarter for the next iPhone models, Bloomberg News‘ Mark Gurman reports.

Apple has been struggling to secure enough memory chips and computer processors, a situation that forced the company to raise prices on Macs and iPads last month. The supply crunch has also led to extended wait times on key computers like the Mac mini and Mac Studio.

The constraints will affect the iPhone, Mac and iPad in the September quarter, Chief Financial Officer Kevan Parekh said during the call. Currency fluctuations are hampering growth as well, he said.

Apple shares fell about 8% in extended trading following the announcement.

The tech giant’s results also showed weaker-than-expected expansions in China and services, two onetime growth engines. Though total revenue topped estimates, the China sales amounted to $18.8 billion in the fiscal third quarter, well short of the $19.6 billion estimated by analysts.

Services revenue of $30.7 billion also missed expectations of about $31.4 billion.

Chief Executive Officer Tim Cook said constraints would affect more Macs, iPhones and iPads in the current quarter. He likened the memory cost issue to a “100-year flood,” while adding that the chip shortages were fueled by higher-than-expected demand for the iPhone and Mac. He specifically cited consumer interest in the iPhone 17 line and MacBook Neo, a new low-cost laptop.

“This is not a regular supply issue, it’s a demand forecast issue to be candid,” Cook said during the company’s conference call with analysts on Thursday. “We’ve got a quarter ahead where we’ll be scrambling on the supply side.”

Overall, Apple reported fiscal third-quarter revenue of $109.4 billion, up 16% from a year earlier and above estimates, with net income rising to $29.7 billion. iPhone revenue jumped 21.7% to $54.25 billion, while Mac sales rose sharply as well.

MacDailyNews Take: The “disappointing” outlook (if revenue rising 9% to 11% YoY could ever be called “disappointing”) sent AAPL shares down as much as 9.78% in subsequent trading, marking one of the stock’s sharpest declines in more than a year.

If every company is forced to raise prices, and they are, the one with the most affluent customers stands to benefit most. Its buyers can better absorb the higher costs, while users of rival products may rethink their choices based on long-term value and resale potential rather than just the sticker price, helping Apple amass market share in the process.

These sort of irrational haircuts are resplendent gifts that will never stop giving! If you’re in position, take them!

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iPhone 18e expected to jump to 9GB of memory, matching recent analyst predictions

MacDailyNews — Fri, 31 Jul 2026 18:00:36 +0000

iPhone 17e delivers powerful features at an incredible value, including Apple’s latest-generation A19, a 48MP 2-in-1 camera system, storage starting at 256GB, and the magic of MagSafe.

Apple’s next entry-level iPhone is on track to receive a modest but meaningful memory upgrade. According to analyst Jeff Pu of GF Securities, the iPhone 18e, expected to arrive by March 2027, will feature 9GB of memory, a step up from the 8GB found in the current iPhone 17e.

The claim, detailed in a research note released today, aligns with earlier reporting from Apple supply-chain analyst Ming-Chi Kuo, who floated the same 9GB memory figure last month. The increase would bring the more affordable “e” model closer to the memory capacity of higher-tier iPhones, potentially improving multitasking, app performance, and on-device Apple Intelligence features that benefit from additional system memory.

While 9GB is still a relatively restrained amount compared with many Android flagships, the upgrade continues Apple’s gradual approach to boosting memory across its lineup. Previous generations have seen similar incremental gains as software demands (particularly those tied to machine-learning tasks) have grown.

The iPhone 18e is widely expected to follow the same annual spring launch cadence as its predecessors. Beyond the memory bump, further details on the device’s design, camera system, chip, and pricing remain limited at this stage.

MacDailyNews Take: As with all supply-chain rumors, the final specifications could still shift before mass production begins. For now, the dual confirmation from Pu and Kuo strengthens the case that Apple’s most affordable 2027 iPhone will at least get a small but useful memory boost.

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Apple’s rumored security camera: Privacy-focused HomeKit device expected as part of broader smart home push

MacDailyNews — Fri, 31 Jul 2026 16:00:55 +0000

(Image: Grok Imagine)

Apple has not officially announced any first-party security camera, but multiple reports from analysts and journalists indicate the company is developing one (and possibly related products like a video doorbell) to compete more directly with Amazon’s Ring and Google’s Nest. The effort forms part of a wider smart-home hardware expansion that also includes a home hub and updated speakers.

Core Rumors and Sources

Analyst Ming-Chi Kuo reported in late 2024 that Apple was preparing a wireless smart home IP camera for mass production in 2026, with ambitions for millions of units annually and assembly by Goertek. The device is described as designed for tight wireless integration with other Apple products and expected to leverage Siri and Apple Intelligence.

Bloomberg News’ Mark Gurman has repeatedly covered Apple’s smart-home plans, stating the company is working on multiple types of cameras and home-security products. One reported design is a battery-powered camera lasting several months to a year on a charge. It would include facial recognition and infrared sensors to identify people in a room, supporting automation such as turning lights off when someone leaves or playing preferred music for a recognized family member. Users are expected to place cameras throughout the home for both security and presence-based automation.

A Face ID-equipped video doorbell has also been rumored; it could recognize residents and wirelessly unlock a compatible deadbolt. Reports suggest the doorbell may lag behind the primary security camera in development.

Internal code references to a device codenamed J229 (mentioned in late 2025 reporting) describe capabilities including image capture, alarm-sound detection, and multiple sensors (features obviously consistent with a security camera). Some coverage linked support for it to a spring 2026 software window, though timelines have since been described as more fluid.

Expected Features and Ecosystem Fit

Any Apple camera would almost certainly rely on HomeKit Secure Video, which already provides end-to-end encrypted streaming and recording to iCloud+ (with local analysis on a home hub such as a HomePod or Apple TV). Apple has recently expanded the platform: iOS 27 and related software add 4K support for compatible cameras, AI-generated text descriptions of footage, natural-language search across clips (e.g., “package delivery”), and grouping of noteworthy events across multiple cameras. These AI features reportedly require a higher-tier (2 TB) iCloud+ plan.

An official Apple camera would be expected to offer deeper, native integration than third-party options—potentially stronger on-device intelligence, seamless Siri/Apple Intelligence features, and privacy guarantees aligned with Apple’s usual approach (encrypted video that even Apple cannot access). Specifics on resolution, night vision, field of view, indoor vs. outdoor designs, or exact form factor remain unconfirmed.

Timing and Status

Early reports pointed toward 2026 availability, with some speculation around a spring window or a March 2026 “Apple Experience” event. More recent coverage (as of mid-2026) treats the latter half of 2026 or later as the more realistic window, noting that earlier expectations have slipped and that no official confirmation, pricing, detailed specs, or prototypes have been made public.

Apple already supports a limited selection of third-party HomeKit Secure Video cameras (from brands such as Eve, Aqara, Logitech, and others). A first-party device would give the company direct hardware control and a clearer path to showcase new Home app and Apple Intelligence capabilities.

MacDailyNews Take: Credible info from Kuo, Gurman, and others consistently points to Apple developing at least one battery-powered, privacy-oriented security camera with facial/presence sensing for automation, plus possible related products such as a Face ID doorbell. Everything remains unannounced and speculative on exact design, price, and launch date as of late July 2026. Further clarity will depend on official statements or stronger supply-chain evidence.

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Apple stock price plummets as supply chain snarls mar forecast in Cook’s final earnings as CEO

MacDailyNews — Fri, 31 Jul 2026 15:00:11 +0000

Apple shares fell nearly 10% on Friday after a disappointing forecast revealed struggles to secure enough components amid the AI-driven data center boom straining global supply chains, according to Reuters.

The drop, if sustained, would mark the stock’s worst day since the pandemic-driven selloff in March 2020. It would erase nearly $500 billion from Apple’s market capitalization and return the crown of the world’s most valuable company to AI chip giant Nvidia, days after Apple reclaimed it.

Tim Cook, widely hailed as a supply-chain genius, called the shortages “very significant” and said Apple had limited options to address them, speaking on his final earnings call as CEO before handing the reins to John Ternus in September and becoming executive chairman.

“If even at Apple’s scale they are saying they are out all supply chain flexibility, it’s really bad for everyone,” Ben Bajarin, CEO of tech consultant Creative Strategies, told Reuters.

Big Tech has been scooping up advanced chip-making capacity and memory chips to power its AI data centers, sparking shortages and price increases that are expected to shrink both the personal computer and smartphone markets this year.

Apple had cushioned some of the blow from surging memory costs by drawing on stockpiled inventory, but Cook said on Apple’s conference call that the buffer was fading and shortages of processors were keeping it from meeting strong demand for iPhones and Macs.

Its forecast on Thursday for revenue growth of between 9% and 11% in the current quarter fell short of Wall Street’s roughly 12% estimate, and softer growth in its services business also overshadowed otherwise strong June-quarter results.

Services Weakness Worries Investors

The services weakness worried investors as it came during a stretch of strong iPhone sales, which typically feed the business that takes a cut of App Store purchases and includes everything from Apple Music to Apple TV.

That slowdown could deepen if iPhone sales take a hit from a price increase that many analysts expect during the launch of the new lineup, which typically happens in September, the report noted.

“Apple’s leverage over the supply chain appears to be in question and it’s not clear that AI is serving as any measurable tailwind to products or services, with its future monetization impact still uncertain,” Morgan Stanley analysts said, as quoted by Reuters. “In fact, one could argue App Store softness might even be a result of AI re-prioritizing customer time.”

Still, some analysts said that the iPhone has weathered price hikes before without denting demand significantly and that a recent U.S. leasing deal with Klarna that offers monthly plans for Apple’s devices could soften the blow.

At least four brokerages cut their targets for the company’s stock price, while three raised. That moved the median view to $330, which is $3 lower than the last closing price, according to LSEG data cited by Reuters. The stock has risen 22.7% this year as of Thursday’s close.

MacDailyNews Take: It’s always darkest before the dawn. Just one month to go!

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Tim Cook exits Apple not with a bang, but with a $350 billion whimper

MacDailyNews — Fri, 31 Jul 2026 14:00:08 +0000

Outgoing Apple CEO Tim Cook

Tim Cook’s fifteen-year run as Apple’s CEO is closing not with a victory lap, but with a sharp reminder of the limits of his signature skill set. Fresh off a record June quarter, the company under his final guidance faces a memory and component crunch that management itself has called a “hundred-year flood,” one that will constrain iPhone, Mac, and iPad shipments in the current quarter. Apple investors responded by promptly erasing some $350 billion in market value. The stumble leaves Cook’s carefully cultivated image as a global supply chain genius looking frayed just a few weeks before he hands the keys to John Ternus.

Rich Duprey for 24/7 Wall. St.:
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The problem wasn’t the quarter Apple reported. It was the quarter ahead… Importantly, Apple isn’t warning that customers are disappearing. It is warning that it can’t build enough products to satisfy them…

Wall Street largely views Apple’s problem as delayed demand rather than destroyed demand…

In short, Apple’s latest earnings did not expose a weakening franchise. They exposed the limits of even Tim Cook’s supply-chain expertise during an industrywide shortage unlike anything the company has previously experienced.

The market, though, responded by focusing on the next three months. Smart investors should spend more time thinking about the next three years.

Apple still generates record quarterly results, maintains one of the world’s strongest consumer ecosystems, and serves a customer base that has repeatedly proven willing to wait — and pay — for its products. Regardless of whether memory prices remain elevated for another quarter or two, supply constraints eventually ease. When they do, delayed sales have an opportunity to flow back into Apple’s results.

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MacDailyNews Take: The stock’s ugly drop looks like a classic short-term overreaction. Demand remains solid; the real problem is temporary supply constraints. In just one month, Apple gets its first product-focused CEO since Steve Jobs. The fifteen-year operational chapter is finally closing.

Patience, Padawans. Backing up the truck.

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[Thanks to MacDailyNews Reader “Fred Mertz” for the heads up.]

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Analysts split on Apple after strong Q3 beat overshadowed by soft Q4 guidance

MacDailyNews — Fri, 31 Jul 2026 13:15:35 +0000

Wall Street’s reaction to Apple’s fiscal third-quarter 2026 results, released Thursday, July 30th, mixed praise for robust demand with caution over near-term supply and cost pressures. The company posted record June-quarter revenue of $109.4 billion, up 16% year over year and ahead of consensus expectations around $108.9–$109 billion, with diluted EPS of $2.02 versus the roughly $1.89 Street estimate. iPhone and Mac delivered standout growth (iPhone revenue about $54.3 billion, up ~22%; Mac about $10.4 billion, up ~29%), while Services and Greater China came in softer than some forecasts. Gross margin reached 50.1%, aided by roughly 2 percentage points from tariff refunds (about $0.11 of the EPS beat).

AAPL stock sold off sharply after hours and into Friday premarket as investors focused on management’s fiscal Q4 (September-quarter) outlook: revenue growth of 9–11% year over year (implying a midpoint near $113 billion), below the prior consensus near $115 billion. Management cited significant supply constraints (driven by stronger-than-expected demand for iPhone and Mac rather than weak end demand), rising memory costs, limited channel inventory, and a roughly 2.5-percentage-point foreign-exchange headwind. Gross margins were guided lower into the mid-to-high 40s range before potential pricing actions on upcoming products. Tim Cook, delivering his final earnings call as CEO ahead of the planned September handover to hardware chief John Ternus, framed the constraints as temporary and demand-driven.

Analyst notes that followed reflected the split between solid fundamentals and near-term headwinds.

Bullish and constructive voices

Bank of America analyst Wamsi Mohan reaffirmed his Buy rating and maintained one of the Street’s highest price targets at $380. He highlighted several positives, including stronger-than-expected momentum in the iPhone 17 cycle and Mac, arguing that supply constraints—not fading demand—are the primary limiter on near-term growth. BofA remains constructive on the upcoming product cycle and longer-term AI/Siri monetization opportunities.

Wells Fargo raised its price target sharply to $350 from $310 while keeping an Overweight rating. The firm noted the weaker Q4 guide tied to component constraints and cost inflation but pointed investors toward Q1 2027 gross-margin recovery, iPhone 18 pricing strategy, and Services trends.

TD Cowen lifted its target to $400 from $350 and maintained a Buy rating. JPMorgan, Morgan Stanley, and Goldman Sachs trimmed targets modestly but retained positive (Overweight/Buy) ratings. JPMorgan moved its target to $340 from $345, viewing supply issues as largely deferring rather than destroying demand and citing continued strength in the iPhone 17 cycle and Mac. Morgan Stanley lowered its target slightly to $360 from $364 while staying Overweight.

More cautious or bearish takes

Barclays analyst Tim Long maintained a Sell/Underweight rating and cut the price target to $245 from $253, citing Services and Greater China revenue that fell short of his expectations along with the softer overall outlook.

GF Securities downgraded Apple to Hold from Buy, arguing that valuation appears full after the stock’s recent outperformance. Rosenblatt Securities raised its target to $300 from $276 but kept a Neutral rating.

Overall Street consensus remains a Moderate Buy, with a roughly even split of Buys/Overweights versus Holds and a small number of Sells/Underweights. Average price targets clustered in the low-to-mid $320s in the immediate aftermath—implying limited upside or modest downside from the pre-earnings close near $333—though individual targets still span a wide range from the mid-$200s to $400. Analysts broadly agree demand indicators look healthy and that higher iPhone pricing, resilient volumes, and potential AI-related Services upside (including via Siri and iCloud) remain longer-term catalysts. The near-term debate centers on how quickly supply, memory-cost, and FX pressures ease and whether valuation leaves room for further multiple expansion.

MacDailyNews Note: Apple shares closed Thursday at $333.43 before sliding over eight percent after the report. Investors will watch upcoming product launches, component availability updates, and any further analyst estimate revisions as the September quarter unfolds.

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MacDailyNews presents live notes from Apple’s Q326 conference call

MacDailyNews — Thu, 30 Jul 2026 20:47:24 +0000

MacDailyNews presents live notes from Apple’s Q326 Conference Call with analysts starting at 2pm PDT / 5pm EDT today, July 30, 2026.

This stream is best experienced on an iPhone 7 or later, iPad (5th generation or later), or iPod touch (7th generation) using Safari on iOS 12 or later; or a Mac using Safari on macOS Mojave 10.14 or later. Streaming to your TV requires an AirPlay 2–capable device, or via AirPlay to an Apple TV (2nd generation or later) with the latest Apple TV software or tvOS. Other platforms may also be able to access the stream using recent versions of Chrome, Firefox, or Microsoft Edge (MSE, H.264, and AAC required).

Apple’s live conference call webcast will begin at 2pm PDT / 5pm EDT here.

Apple today posted record third quarter revenue of $109.4 billion, up a whopping 16% year over year, and quarterly diluted earnings per share (EPS) of $2.02, up a staggering 29% year over year (which included a favorable impact of $0.11 from tariff refunds).

Prior to Apple’s earnings release, Wall Street was looking for revenue of approximately $108.9 billion and diluted EPS of $1.89.

Live notes in chronological order:

• Awaiting start of conference call.

• AAPL After hours: $320.07, -13.36 (-4.01%) @ 4:51:50 PM EDT

• AAPL After hours: $318.98, -14.45 (-4.33%) @ 4:58:18 PM EDT

Tim Cook: Good afternoon, everyone, and thanks for joining the call. Today Apple is pleased to report 109.4 billion in revenue—up 16% from a year ago, and a June quarter record. We were able to achieve this despite supply constraints, and sequential foreign exchange headwinds. We continue to see enormous customer enthusiasm for our most popular lineup ever, with iPhone revenue growing 22% from a year ago to reach a June quarter record. We saw so much excitement around the best Mac lineup we’ve ever had, growing a strong 29% to achieve a June quarter revenue record. Service is also set a June quarter record with 30.7 billion in revenue.

We achieved June quarter revenue records in every geographic segment. We were pleased to see strength across the board, with June quarter records in the U.S., Latin America, Western Europe, India, China, mainland, Japan, and Southeast Asia. We also achieved June quarter revenue records in both developed and emerging markets, and saw double-digit growth in most emerging markets.

This year’s WWDC was a wonderful showcase of our latest innovations. We were tremendously excited to unveil the all-new Siri AI, a completely reimagined version of Siri that is profoundly capable, deeply personal, and integrated seamlessly across our platform. And we’ve been absolutely thrilled by the response from people who’ve been using Siri AI in the developer and public betas. The reviews from early users have been phenomenal, and it’s been so wonderful to hear from people who are excited about the capabilities we’ve built. And it underscores our philosophy that building AI that is private, and based on personal context, can change how users find information and get things done with our product in a way that truly enriches their lives. We really couldn’t be more excited about it, and we are feeling incredibly enthusiastic about the impact it’s going to have.

At WWDC, we also announced new tools to help parents keep kids safe online, and we were pleased by the overwhelmingly positive reactions. New child safety features like Browse and Time Allowances will help parents encourage kids to develop healthy digital habits. These new tools integrate guidance from leading clinical and child development research, including the American Academy of Pediatrics. Our goal is to make it easier for parents to manage what their children see, who they interact with, and how and when they can use their devices. We’re looking forward to bringing these new capabilities to users this fall, in addition to amazing new updates across our operating systems.

Now let me turn to the results for the quarter, beginning with iPhone. iPhone revenue for the June quarter was 54.3 billion dollars, up 22% from a year ago. We achieved June quarter records in every geographic segment and set a June quarter record for upgrading. According to IDC, we gained share globally during the quarter. As I’ve said before, this is the most powerful and most popular iPhone lineup we’ve ever had. More people are relying on iPhone every day for AI, powered by the outstanding performance of A19 and A19 Pro. Across the lineup, iPhone continues to deliver the performance, battery life, durability, and camera capabilities that people count on every day. Whether it’s the extraordinary camera system of iPhone 17 Pro and Pro Max, the remarkably thin design of iPhone Air, the balanced performance and durability of iPhone 17, or the exceptional value of iPhone 17e, there’s an iPhone for every customer.

Mac delivered its best June quarter yet, with 10.4 billion in revenue, growing an impressive 29% from a year ago, despite significant supply constraints. This revenue growth was driven by the incredible strength of our latest lineup, with MacBook Pro and the all-new MacBook Neo. According to IDC, we gained share globally. We also set a June quarter revenue record in developed markets and an all-time record in emerging markets, with particular strength in greater China where we had an all-time revenue record. In addition, we achieved all-time records for upgraders and customers new to Mac. With the power of Apple Silicon, the Mac lineup delivers outstanding power-efficient performance, massive memory bandwidth, and next-level AI capabilities. Mac continues to be the ultimate AI powerhouse, excelling at high throughput, on-device inference, and creation across a broad range of AI workloads. And we’re seeing customers increasingly put those capabilities to work, from using Mac mini as a powerful platform for agentic AI, to deploying clusters of Mac Studio systems to run frontier-class models locally. Across the lineup, customers continue to embrace the Mac family. MacBook Neo has been especially popular, with its distinctive design and excellent value resonating with customers around the world. And we’re continuing to work hard to meet demand. MacBook Air, the world’s most popular laptop, continues to deliver the portability and performance customers love with M5. And MacBook Pro, powered by M5 Pro and M5 Max, remains a go-to choice for professionals tackling the most demanding AI development and creative workflows.

And iPad, revenue was 6.2 billion for the June quarter, iPad continues to be the ultimate go-anywhere, do-anything device for students, entrepreneurs, and creators of all kinds, thanks to its incredible power, portability, and versatility. The addition of M4 to iPad Air has made it even more capable, delivering a significant performance boost for everything from personal productivity and immersive learning to advanced creative workflows. Together with the remarkable performance of iPad Pro, the amazing value and versatility of iPad, and the ultra-portable iPad mini, we’re offering customers our strongest iPad lineup ever.

Revenue for Wearables, Home, and Accessories was 7.9 billion dollars, up 6% from a year ago. We grew in every geographic segment and achieved a June quarter record for upgraders for Apple Watch. Our Apple Watch lineup brings together the most comprehensive set of health and fitness features we’ve ever had. We’re delivering useful features backed by research to enable users to better understand their health and well-being. It’s gratifying to receive almost daily reminders of the meaningful impact Apple’s health innovations are having for users all over the world, changing even saving lives. Meanwhile, we continue raising the bar across our AirPods lineup, whether it’s the immersive listening experience of AirPods Pro 3 or the premium listening experience and exceptional active noise cancellation of AirPods Max 2. And with live translation, powered by Apple Intelligence, people are crossing language barriers and connecting like never before.

As I mentioned earlier, we’re excited about the work we’re doing on the next generation of Apple Intelligence, including Siri AI and the AI features we’re developing across our platform. These experiences are intuitive and useful, while also deeply integrated in a way that’s personal and private, with the latest models running on device and on servers using private cloud compute. We begin laying the groundwork for users to have the best possible experience with AI when we introduce the Neural Engine in 2017. Ever since then, we’ve innovated and invested deliberately in silicon, systems, and scalable unified memory architecture designed with AI at their core. What sets Apple apart is the unique combination of massive unified memory bandwidth, industry-leading power-efficient performance, and deep on-device intelligence. All built around the customer experience from the ground up. The result is that Apple has created the world’s best hardware to experience AI, whether it’s using Apple Intelligence, including Siri AI, or third-party offerings. That’s why developers and researchers are increasingly using Apple devices to build ever more advanced tools and models.

Turning to Services, revenue was 30.7 billion dollars, a June quarter revenue record, and up 12% from a year ago, despite significant sequential foreign exchange headwinds. We also set an all-time revenue record in developed markets and a June quarter record in emerging markets. Apple TV continues to leave audiences spellbound, with new releases like Widow’s Bay and Cape Fear, alongside returning favorites like Silo and Sugar. And next week, we’re excited that Ted Lasso is back for his fourth season. It was wonderful to see Apple TV earn the industry’s top honors, adding Tony Awards this year to its Emmy, Grammy, and Oscar wins. We’ve reached that milestone faster than any streamer in history. We’re also looking forward to this year’s Emmy Awards, where Apple has landed a record 89 nominations, leading all networks in both the major drama and comedy series categories with three outstanding drama series nominations and three outstanding comedy series nominations. Widow’s Bay also stands out as the year’s most nominated new program, earning 19 Emmy nominations. And the 6.5 years since launch, Apple TV has earned more than 850 wins, and nearly 3,800 nominations. In time for the World Cup, we expanded Apple Sports to include more than 170 countries and regions worldwide, and made it easier than ever for fans to follow every moment of the tournament from the opening game to the final whistle. At the same time, we’re halfway through an unforgettable year of F1, and Apple TV subscribers have been tuning in all season to follow their favorite drivers and teams.

In Retail, we were pleased to announce Apple Upgrade this week for customers in the US, Apple Upgrade is a new hardware leasing program launched in partnership with Klarna and makes it even easier for customers to get their hands on Apple’s latest products with a plan that’s right for them.

In all of our work, we’re thoughtful and intentional in how we show up for our users and across our communities. That means innovating to protect user privacy with the next generation of Apple Intelligence, or helping parents keep kids safe as I mentioned earlier. In honor of global accessibility awareness day, we unveil new features to help users get more out of the products they use every day. New intelligent capabilities are coming to VoiceOver, Magnifier, Voice Control, and accessibility reader to make them more useful and intuitive. We’re also using on-device speech recognition to generate subtitles for video content without captions. And Apple Vision Pro is adding a feature for power wheelchair users to control drive systems using just their eyes. All of these features were born out of Apple’s longstanding commitment to ensuring that the benefits of technology are shared with everyone.

As we continue to develop new capabilities for users around the world, we’re also doing our part to invest in innovation close to home. Last year, we made a $600 billion commitment to the US over four years, and now, as we said before, we plan to reinvest the tariff refunds we’ve received into the US. We’re pleased with the progress we’ve already made advancing the American supply chain. Earlier this month, Apple announced a new agreement with Broadcom to design and produce custom silicon components and cutting-edge wireless connectivity technologies. The new multi-year agreement with Broadcom, which is part of Apple’s American Manufacturing Programs, is expected to exceed $30 billion. This marks our largest ever American Manufacturing Program commitment. It’s also an important step forward in our work to build an end-to-end silicon supply chain here in the US. We’re excited for the upcoming opening of the Apple Advanced Manufacturing Center in Houston. The center is located in a facility where we currently assemble advanced AI servers. Later this year, we’ll make Mac mini there too. The center will teach students supplier employees and business of all sizes the same innovative processes we use to make our products. The goal is to empower American manufacturers to take their work to the next level and strengthen the entire advanced manufacturing ecosystem.

We have an exciting fall ahead, and an incredible future beyond. Our roadmap is phenomenal, and we are so excited about the way Siri AI will enrich our users’ lives. Throughout all of it, we will remain guided by our North Star, building the best products and services to enable people to do magical things. It’s a special privilege to be part of people’s lives in lasting and meaningful ways, helping them to create, connect, and experience the world around them.

Kevan Parekh: Despite supply constraints. Product’s revenue was 78.7 billion dollars, up 18% year over year, driven by double-digit growth on iPhone and Mac. Both of which set new June quarter records. Our install base of over 2.5 billion active devices has reached another all-time high across all major product categories and geographic segments. Services revenue was 30.7 billion dollars, up 12% year over year. We set revenue records in every services category, including all-time records in cloud services and payment services.

Company gross margin was 50.1%, up 80 basis points sequentially. This included a benefit from tariff refunds, which had a favorable impact of approximately 2 percentage points. When you remove this favorable impact, you would have been at the midpoint of the guidance range we provided last quarter. Product’s gross margin was 40.1%, up 140 basis points sequentially. This also included a benefit from a tariff refunds I just mentioned. Which had a favorable impact of over 2.5 percentage points. Services gross margin was 75.6%, down 110 basis points sequentially, driven by a different mix.

Operating expenses came in at 19.1 billion dollars, up 23% year over year, driven by investments in R&D. Net income was 29.8 billion dollars. Diluted earnings per share was $2.02, up 29% year over year, and included 11 cents of favorable impact from tariff refunds. Operating cash flow was very strong at 34.4 billion dollars. All three of these metrics set June quarter records, even when excluding the tariff refund benefit.

Now, I’m going to provide some more details for each of our revenue categories.

iPhone revenue was 54.3 billion dollars, up 22% year over year, driven by the iPhone 17 family. We grew double digits in the vast majority of markets we track, and reached June quarter revenue records across both developed and emerging markets. The iPhone active install base grew to an all-time high and set a June quarter record for upgraders. According to a recent survey from WorldPanel, iPhone was the top-selling model in the U.S., urban China, the U.K., France, Australia, and Japan. We were thrilled with the response to the iPhone 17 family.

Customer satisfaction in the U.S. was recently measured at 99% by 451 Research.

Mac revenue was 10.4 billion dollars, up 29% year over year, a new June quarter record, driven by the strength of MacBook Neo and MacBook Pro. We grew in both developed and emerging markets, with strong double-digit growth in markets like Latin America, India, and Southeast Asia.

The customer reception to MacBook Neo has been incredible. We continue to attract new customers to the product around the world. As Tim mentioned, Mac had its best quarter ever for customers new to the Mac and for upgraders worldwide, including in the U.S., China mainland, and India. And in the U.S., customer satisfaction for Mac was recently measured at 95%.

iPad revenue was 6.2 billion dollars, down 6% year over year, driven by the continued difficult compare against the launch of the A16-powered iPad in the prior year. At the same time, the iPad install base reached a new all-time high and over half of the customers who purchased an iPad were new to the product

And 451 Research recently measured customer satisfaction at 98% in the U.S.

Wearables, Home, and Aaccessories revenue was 7.9 billion dollars, up 6% year over year, driven by strength in wearables and accessories. And we saw growth in both developed and emerging markets. The wearables install base reached a new all-time high. We set a June quarter record for upgraders on Apple Watch, and over half the customers purchasing an Apple Watch during the quarter were new to the product.

And in the U.S., customer satisfaction on Apple Watch was reported at 95%.

Our services revenue reached a June quarter record of 30.7 billion dollars, up 12% year over year, despite significant sequential FX headwinds. For the total services business, we saw double-digit growth in the vast majority of markets we track. We set records in every category, with June quarter records in advertising, app store, AppleCare, music, and video as well as all-time records in cloud services and payment services. We are optimistic about the long-term future of our services business.

With our large install base of over 2.5 billion active devices, we have incredibly strong foundation for growth opportunities. Our services continue to attract more customers, and we have now surpassed 1.5 billion in paid subscriptions. Both transacting and paid accounts reached new all-time highs in the quarter, with double-digit growth for both in emerging markets. And we continue to improve and expand our services offerings, from powerful updates to creator studio to exciting new features we’re bringing to services later this year, like splitting bills with Apple Cash using visual intelligence.

Turning now to enterprise and education, organizations are using the Apple Platform to drive AI innovation and empower the next generation of students. Starting with enterprise, Morgan Stanley has deployed over 20,000 iPhone 17 devices globally as part of a shift from employee-owned to corporate-owned devices, reliability and security. More companies are choosing Mac for on-device AI advantages, including lower costs, better performance, and enhanced privacy and security. At Disney, creative teams are increasingly turning to Mac for on-device AI workflows that reduce overall cloud token costs and keep their IP secure. And Credit Agrifal, France’s leading retail bank, is using on-device AI and MacBook Pro to streamline regulatory workflows, reducing manual processing time by over 80%.

Our newest addition to the Mac lineup, MacBook Neo, is reaching new enterprise users in many environments, from bank branches to retail storefronts. In education, MacBook Neo continued to accelerate adoption of Apple products. With many districts leveraging Apple Financial Services to deploy at scale. Pinellas County schools, one of the largest districts in Florida, is transitioning 25,000 students from Windows devices to MacBook Neo across its 18 high schools. In Washington, Peninsula School District 401 moved over 8,000 students from Chromebooks to MacBook Neo. And in Oklahoma, Midwest City, Dell City School District purchased over 6,000 MacBook Neos to become an all-Apple district for students. In fact, in the last quarter, about half of the MacBook Neo large purchases by U.S. education institutions displaced Windows and Chromebook devices.

Let’s turn to our cash position and capital return program. We ended the quarter with $147 billion in cash and marketable securities, and $84 billion in total debt. During the quarter, we returned $33 billion to shareholders. This included $4 billion in dividends and equivalents, and $25.8 billion in share repurchases.

As we move ahead, into the September quarter, I’d like to review our outlook, which includes forward-looking information.

Importantly, the color we’re providing assumes that global tariff rates policies and their application remain in effect as of this call, and the global macroeconomic outlook does not worsen from today.

We also expect our September quarter total company revenue to be impacted by two main factors: first, we expect foreign exchange to be a sequential headwind of about 2.5 percentage points to the year-over-year total company growth rate from the June quarter to the September quarter. Second, we expect the impact from supply constraints to increase significantly sequentially. The projected supply constraint in the September quarter affects iPhone, Mac, and iPad. As a result, we expect our September quarter total company revenue to grow between 9 and 11 percent year over year. On iPhone, we expect to continue to see high levels of demand, however, we do expect iPhone revenue to be impacted by these foreign exchange headwinds and supply constraints. Therefore, we expect a September quarter reported growth rate for iPhone to be mid-teens year over year. For services, we expect a September quarter year-over-year reported growth rate to be largely similar to what we reported in the June quarter, after removing the negative sequential impact of about 2.5 percentage points in foreign exchange that we just described.

We expect gross margin to be between 47 percent and 48 percent. This includes an expected benefit of approximately 1 percentage point related to tariff refunds. We expect operating expenses to be between 19.1 billion and 19.4 billion dollars.

We expect OIME to be around 350 million dollars, excluding any potential impact from the mark-to-market of minority investments. And our tax rate to be around 16.5 percent. Finally, today, our board of directors has declared a cash dividend of $27 per share, common stock, payable on August 13, 2026, to shareholders of record as of August 10, 2026.

Before we take questions, let me turn it back over to Tim.

Cook: Thanks, Kevin. Before we get into questions, I just wanted to take a moment to say thank you to all of you. From our shareholders, particularly our long-term shareholders, who have put their trust in us for so many years, to the analysts who have followed our company so closely. As you know, this will be my final earnings call, and John will lead these calls going forward. The transition is going seamlessly, and I am beyond excited for John to step into his new role and lead Apple into its next era. He is truly one of a kind, and there is no better person to take the helm of the company. As I’ve said, I couldn’t be more confident in his leadership, in our executive team, and in the extraordinary people at Apple who are determined to enrich the lives of our users all over the world. We have a bright future ahead, and I truly have never been more optimistic. So thank you all, and now Kevin and I will be happy to take your questions.

Analysts’ Questions

Q: Tim, best of luck. It’s been a pleasure working with you over the years. Maybe to start with, if I think about the 9 to 11 percentile growth that’s guided for September, it’s about 500 basis points or so deceleration versus what we’ve seen in, you know, really in June quarter, even through this year, I would say. Can you just talk about how much of this decel is only supply constraint versus other factors like FX? And if you just flesh out what these supply constraints are, the broadening beyond these advanced SOCs you talked about last quarter as well.

Parekh: Yeah, this is Kevin. How are we doing? Why don’t I start with just kind of describing the sequential change, and then I’ll let Tim jump into kind of a bit more color on supply constraints.

So I think I mentioned in my declarative remarks, we expect the September quarter total revenue to grow by 9 to 11 percent year over year.

And then we expect that to be impacted by two main factors. The first, when we look at kind of going from the June quarter to September quarter, we expect foreign exchange to be a sequential headwind of around 2.5 percentage points to the year-over-year total company growth rate.

And then the second impact is that the impact on supply constraints is we expect that to increase significantly, when we go sequentially from June to September. And that’s projected supply constraint in the September quarter will affect the iPhone Mac and the iPad. And really, when you combine those two factors, you get pretty close to the June overall total company growth rate.

Cook: Yeah, Tim, first of all, thank you for your comments. During the June quarter, we did experience supply constraints primarily on the Mac and to a lesser extent on iPhone and iPad. These were driven by very high levels of demand and, as you’ve said before, we are seeing less flexibility in the supply chain than normal. And the constraints were primarily driven by the availability of advanced nodes that are SSDs or produced on.

If you look forward then into the current quarter, the September quarter, we are continuing to expect high levels of demand. However, with less flexibility in supply chain, we expect the impact from the supply constraints to increase significantly sequentially.

The projected supply constraints in the September quarter as Kevin said affect iPhone, Mac, and iPad.

And so we’re seeing some very significant constraints currently with limited flexibility in the supply chain to remedy it.

Q: Got it. This is really helpful. Thanks a lot for that. And then, Tim, I just have a memory question for you. You know, Apple has historically I think done a really excellent job about delivering capability and utility to customers without really making them pay disproportionately more. The sizing memory inflation seems to challenge that equation for you folks right now. And, you know, there were reports that suggest that you’re seeking greater sourcing flexibility for memory. Can you just talk about, you know, is this sourcing options really about ensuring that you have supply and the way to mitigate memory inflation? Or is it more to preserve the value proposition for your customers? Just any light you could shed on this would be helpful. Thank you.

Cook:Yeah, let me back up and talk about memory in general, because I know this is a subject on many of your minds. If you look at the, as I’ve said on the last call, we paid more for memory in the March quarter than the December quarter. And then, as I alluded to last quarter, we expected to pay significantly more in the June quarter than the March quarter. And that is what happened. It was partially offset by the benefit of carry-in inventory. For September, we expect to pay even higher memory costs. And we’re able to offset partly by a few factors.

And let me walk through kind of what they are. The first is, as you would expect, we have a benefit from some carry-in inventory in the September quarter. However, we believe this we’ll see decreasing benefit from this over time. Beyond the September quarter.

The second is, we’re expecting lower costs on certain non-memory components. That are in our bond. And then if you look beyond September, we see the market pricing for memory continuing to increase which could drive an increasing impact on our business. And we’re continuing to evaluate this. In terms of the sources of supply, you know, primarily the DRAM market has three suppliers. And obviously, if there were more suppliers, that would be good. And it would help us on the supply side and perhaps the pricing side. It’s unclear on the pricing side. But it could help on the supply side. And so we’re evaluating all options.

Q: First, on the Apple upgrade program, could you talk a little bit about, you know, the expected adoption rates across your, you know, 2.5 billion device install base in success? Do you see it shortening the replacement cycle for iPhone or, you know, also having an equal impact to Mac and iPad, which may have not as benefited from device subsidies in the US like iPhone has historically? Thank you.

Cook: If you look at the upgrade program, what it’s all about is making it easier for customers to get their hands on our latest product. With a leasing plan that’s right for them. And of course, as you know, the residual values on Apple products are generally much higher than the residual value on several of our competition. And so it’s a way to get into a product on a fairly affordable basis for particularly for those customers who want to upgrade on some kind of schedule. And so we’re very excited about it. It is offered in our retail stores and so it’s not widely offered in all channels. And so we’ll see what the customer uptake is. But the early feedback on it is quite positive.

Parekh: Yeah, Michael, I’ll just mention that it’s only available in the US right now as well.

Q: Great. Thank you. That’s very helpful. And then, my second question just on iOS 27 and Apple Intelligence. You know, when is the public beta early this month? Could you talk about, you know, learnings from the public beta? Will, you know, the new Siri AI be a demand driver for iPhones this holiday? You know, how does the Apple Intelligence usage to date in the open beta inform how you’re thinking about compute costs and the ability to report. Some of those costs through iCloud Clients? Thank you.

Cook: Yeah, thank you for that. First of all, we are off the charts excited about Siri AI. We had a great reception from WWDC. We released the developer beta immediately after the keynote. The developer feedback has been overwhelmingly positive. The feedback from reviewers and so forth have been overwhelmingly positive. We released it to the public for a public beta a few weeks ago. And the continued feedback is really, really great. I think it’s a very big idea to have AI that’s private that’s based on your personal context and that’s integrated across the operating system. And so we couldn’t be happier with how things are going. In terms of the what it means for compute cost, it’s obviously early going for us. And so I don’t want to say that we have a complete plan for that. We do. Believe there will be people that want to use it a lot. And so we will have some kind of upgrade possibilities on iCloud Plus where people can buy up the stack on iCloud Plus. And we’ll see how the pickup for that is. But we could not be more excited about where the product is.

Q: I wanted to ask about the supply constraints again. And I think people are just trying to make sense of it a little bit this way, is that, you know, the street had you at 12% growth for the quarter of September. And so, you know, you could argue that to get to the 10% you guided, that’s just the FX. And then in the first quarter, which is December, the street had you decelerating quite a bit, you know, to like 8% to 9%. So I think, you know, what we’re struggling with after hours here is how much do you supply constraints really hit you in December? And, you know, impact that? Because, you know, the streets did a pretty good job of give us there as you see it, Tim, and we’d really appreciate it. Thanks.

Cook: Let me talk about the constraints a little more and then Kevin can weigh in on the guidance for revenue. As I had mentioned before, the primary issue is advanced nodes that we run our SOCs on. That’s the primary supply constraint now. And the root cause of it is not a is not a regular supply issue. It’s a demand forecast issue, to be candid, where the iPhone and the Mac are both doing remarkably better than we thought they would do. And we had high expectations. So it wasn’t that our expectations were low, but as you can see, from iPhone’s growth being 22% and Mac’s growth at 29% and the iPhone is 22% year to date as well, that these are extraordinary numbers. And the supply chain just has less flexibility in it than normal. So we’ve been pulling supply ahead. And at some point, there’s a limit to that. And so we’ve got a quarter that we’re going to be scrambling on the supply side, essentially. And Kevin, you want to add on the revenue guidance?

Parekh: Yeah, thanks, Tim. Ben, let me jump in here. And that the dynamics Tim mentioned, combined with the foreign exchange impact I mentioned earlier, sequentially, is really what’s built into the 9% to 11% guidance we’re giving for the September total company revenue year-on-year growth rate. Beyond September, we’re not providing any color at this point. You mentioned December. So we’re not providing any kind of color or guidance beyond the September quarter.

Q: Okay. And then, you know, if I could just ask, and you guys, you know, know what’s in the press all the time, but there’s this little company that is also building a fab in Arizona. That’s, you know, you guys have been speculating you guys could work with that could potentially alleviate some at least your silicon constraints. Is there any possibility that you guys broaden out your silicon providers in a reasonable time frame to alleviate these so we feel better about supply?

Cook: Yeah, let me stress again. This isn’t a partner or supplier issue. This issue is an incredibly strong it’s a great issue in some ways. It’s an incredibly strong iPhone and Mac product cycle that has really yielded demand beyond our expectation. In Arizona, we do source over 100 million components this year out of Arizona. And so we have it is part of our $600 billion commitment to the US. And we could not be more pleased with how that fab has ramped and is producing for us.

Q: You know, I want to maybe focus on pricing here, Tim, and kind of unprecedented for you to take pricing in the ways that you have. I guess two related questions is just, you know, is it your intention to pursue some of these multi-year LTAs with your suppliers just to ensure access to supply at pre-agreed prices? And, you know, when you approach product pricing in this environment, is it your intention to protect, you know, product gross profit dollars? Is it your intention to protect product gross margins? We’d just love the kind of thought process behind the pricing. And then I’d put follow-up, please. Thank you.

Cook: Yeah. On the pricing front, you know, we reluctantly raise prices, I would say. We did it because we’re in what I would characterize as a 100-year flood on the memory pricing. With exponential increases in memory prices, and so that was the that was the rationale for it. In terms of our philosophy on dollars or percentages, we look at units revenue and margin. And then come to a business judgment as to how to handle that. And so it’s not a mathematical formula that gets us to a specific result or just looking at one dimension of that. We look at all three dimensions and think about it over the long term. Instead of a, you know, a 90-day clock.

Q: And then just maybe a quick follow-up. I guess, Tim, or Kevin, just 12% services growth was just a bit below your guidance, I imagine, FX maybe played a role there.

I think the fiscal forecast guidance assumes, you know, another deceleration. I think the math would imply below 10% year-over-year as reported. So can you maybe just help us understand, you know, the kind of function factors underlying that deceleration? And if that’s App Store, which I think some third-party data sources would suggest, you know, is that a function of AI maybe reprioritizing time away from parts of the App Store? Just want to make sure we understand the moving pieces on services, please. Thank you so much.

Parekh: So let’s walk from kind of the 16% in our fiscal second quarter to kind of the 12% that we just talked about in the June quarter that you referenced. And we look at that, you know, relative to the March quarter, foreign exchange was the main driver for the change in the year-on-year growth rate sequentially. And also a couple of other factors to keep in mind. One is we had that the applicable release of F1, which is one of the highest grossing sports films in history, and this year we didn’t have it the applicable release. So that had a favorable impact on both the June quarter and also the September quarter and the year ago.

We also sort of had some factors that impacted the performance of the App Store. We did see some headwinds in mobile gaming. For the growth in categories like cloud. This is video, payment services, and advertising, and we set revenue records in every category with June quarter records in advertising and the app store, AppleCare, music, and video. We’re Apple TV, viewership reaching all-time high in the quarter. And then we also set all-time records in cloud services and payment services, where Apple Pay saw a record level of users in both developed and emerging markets.

And services also had a June quarter record in emerging markets, and we outlined in the prepared remarks our services continue to attract more customers, and we now have surpassed 1.5 billion in paid subscriptions, and our transacting and paid accounts hit an all-time high with double-digit growth in both those two and emerging markets.

So I think when I step back, if I look at kind of how we landed versus our expectations that we had outlined, in the March quarter, for the June quarter, I would say that our kind of we roughly met our expectations but we did see a bit more softness on mobile gaming in the app store.

As we go into the September quarter, what I would say is we expect foreign exchange will continue to be a headwind, and in fact, this is a theme that’s impacting the services business more so than a total company, we expect foreign exchange to drive about a 5 percentage point headwind to the year-on-year growth rate from the March to September quarter. So if we look at the sequential change in the June quarter, a 12% services we reported, to what we’re guiding for the September quarter, we are going to see another 2.5 point sequential headwind.

Q: I guess I want to maybe tether with the memory pricing dynamic, but as you look at the demand that you’re seeing right now, I’m curious of how you assess whether or not you’ve seen any pull forward of demand, either from the consumer or even the enterprise and education market, and whether or not you’re factoring that into your views as we look forward at all.

Cook: On you’re talking about on iPhone, I assume, in general, we’ve been running at this 22% growth rate for the last while, for this cycle has been a 22% increase year to date. And so it’s not obvious I would say that. It’s not obvious in the data that what you’re asking is true. Obviously, we’ve now had to increase prices on iPad and Mac, and the price elasticity there is just too early to come to a definitive conclusion of what happens there. Because it takes a little while for the channels to adjust since there’s channel inventory, and it takes a while for the consumer to respond. And so we’ll understand that more in the weeks ahead.

Q:A very helpful. And then as a quick follow-up, maybe more longer-term thematically, is AI proliferates towards the edge and more consumers utilize AI, I’m curious, Tim, if you see AI opening up additional opportunities. I can appreciate that you’re not going to give us specifics, but do you see other kind of addressable markets evolving from AI over time?

Cook: Yes. I think there are enormous opportunities for Apple moving forward in AI. And I’m so excited about Siri AI and kind of where it is and where it’s going, and I’m excited about the feedback that we’re getting there. And of course, the ability to run some percentage of requests on-device is also very strategic and sort of a competitive weapon, if you will. So I could not be more excited about the opportunities there.

Q: For my question, first on Siri AI, do you expect that Siri AI would change the capital intensity of Apple despite the fact that you have the ability to do so much differentiated workloads on-device and you have this distributed compute? You do have some requests that go into the backend, both in your own first-party cloud as well as third-party. So is it right to think that the capital intensity of Apple will change in the future because of Siri AI and Apple follow-up?

Cook: We use a hybrid model, as I know Kevin has reviewed. We reviewed earlier and so we use some third-party cloud and we do our own data centers. And so there will be a mix but generally speaking, as you know, we have been growing our op-ex and spending more in AI in general. And quite a bit more. And there are other locations on the P&L other than op-ex, like OCOGs and etc., that also have AI expenditures. And so we’ll see what Siri AI does from the cost side of it, but there’s also the ability when people use it a lot for them to move up on an iCloud plan as well. And so what the balance of that is, is a bit uncertain at the moment.

Q:And John, since you’re on the call, congrats on the new role. I’d love to get maybe just a high-level take from you if you think that the competitive landscape here is changing especially as you hear about potentially companies like OpenAI building an AI-enabled competitive device or SpaceX AI potentially having a phone. That would bypass some of the typical carrier tax. Just would love your high-level thoughts on how you see the competitive landscape evolving and Apple’s solution there.

Ternus:Well, thank you for asking. I guess I would just say reiterate what Tim said. There is so much opportunity for us with everything that’s happening in this space. And we’re just really focused on our plans and very excited about it.

Q: If I go back to WWDC when you announced Siri AI, you also did mention along with the rollout that probably we won’t have the initial rollout in China and Europe. So just wanted to get your updated thoughts on that front and any more color in terms of what hurdles you need to cross to be able to launch it in those regions and have a follow-up. Thank you.

Cook: Thanks for the question. Let me take them individually.

If you look at the EU, we’re working closely with the commission. Obviously, our complete desire is to launch everything, everywhere, at the same time. That’s always the philosophy that we have. We have not been able to do that in the European Union. But we’re working closely with them to try to get to something that would allow us to offer Siri AI there. It is offered or will be offered for the Mac there. Because the Mac is not covered by the same regulations as the iPhone and the iPad. So, we’re working with them and hope to reach some sort of solution.

If you then look at China, last week we received approval to ship sort of the original features of Apple Intelligence. Things like cleanup and so forth. And so we’re working now through the rollout of those and there will be more work required down the road for the Siri AI. But we’re at the front end of that.

Q: Okay. Great. And for my follow-up, Kevin, just not to beat sort of this FX thing to death here, but if I look at the gross margin, you delivered 48% in the quarter without the tariff refund benefit. You’re guiding to like 46 and a half. Any way to walk us through the sequential driver there and how much of that is FX impacting it versus maybe like increased commodity cost, etc., that’s driving that sequential quantitation? Because it does seem a bit more atypical than your normal sort of years.

Parekh: So let me walk through kind of what’s impacting our gross margins. We look at our gross margin change from the 49.3 we had total company level for the March quarter and as you mentioned, the 48.1 adjusted to the tariff refund in the June quarter. That 120 basis point change if you look at the drivers of that, more than 100% of that can be explained by the memory cost change that Tim outlined. While FX was a factor, really the main driver was really the memory cost impact. And as Tim outlined earlier, when we talked a bit about the dynamics around the memory cost, we did see some partial offsets from things like the benefit of carrying inventory, reduction in non-memory component costs, and some variable mix. We are seeing the same dynamics when you go from the 48.1 that we printed in the June quarter to the 46.5 midpoint you referenced of our range without the tariff refund impact.

That 160 basis point change is also more than that is explained by the change in memory. Costs. And we had some partial offsets again from things like the benefit of carrying inventory, lower cost non-memory components, and as well favorable mix. I think that FX was a pretty minimal impact when you look at that versus the memory. And so generally the sequential change from the March quarter to the 46 and a half you referenced is really driven by memory.

END OF CONFERENCE CALL

• AAPL After hours: $310.81, -22.62 (-6.78%) @ 6:01:06 PM EDT

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Apple reports blockbuster third quarter results

MacDailyNews — Thu, 30 Jul 2026 20:31:38 +0000

Apple today announced financial results for its fiscal 2026 third quarter ended June 27, 2026. The company posted quarterly revenue of $109.4 billion, up 16 percent year over year. Company gross margin was 50.1 percent, including a favorable impact of approximately 2 percentage points from tariff refunds. Diluted earnings per share was $2.02, up 29 percent year over year, and included a favorable impact of $0.11 from tariff refunds.

“Today, Apple is proud to report our strongest June quarter ever, with double-digit revenue growth across iPhone, Mac and Services, and in every geographic segment,” said Tim Cook, Apple’s CEO, in a statement. “At WWDC26, we were thrilled to introduce the all-new Siri AI, alongside all of Apple’s latest software innovations and important new child safety features.”

“We are very pleased with our record business performance during the quarter, which set new June quarter records for both EPS and operating cash flow,” said Kevan Parekh, Apple’s CFO, in a statement. “Our installed base of active devices also reached a new all-time high across all major product categories and geographic segments.”

Net sales by category:

• iPhone: $54.252 billion (vs. $44.582 billion YoY)
• Mac: $10.352 billion (vs. $8.046 billion YoY)
• iPad: $6.191 billion (vs. $6.581 billion YoY)
• Wearables, Home, and Accessories: $7.883 billion (vs. $7.404 billion YoY)
• Services: $30.739 billion (vs. $27.423 billion YoY)

Apple’s board of directors has declared a cash dividend of $0.27 per share of the Company’s common stock. The dividend is payable on August 13, 2026, to shareholders of record as of the close of business on August 10, 2026.

Apple will provide live streaming of its Q3 2026 financial results conference call beginning at 2:00 p.m. PT on July 30, 2026, at apple.com/investor/earnings-call. The webcast will be available for replay for approximately two weeks thereafter.

Wall Street was looking for solid double-digit growth. Consensus forecasts (drawn from roughly 27–31 analysts) called for:

• Revenue of approximately $108.9 billion, up about 16% from $94.0 billion a year earlier.
• Diluted EPS of $1.89, up roughly 20% from $1.57 in the year-ago quarter.

MacDailyNews Take: A strong quarter, but the bears will say that Services delivered $30.7 billion versus projections of $31.3 billion and Greater China revenue was $18.8 billion, short of analyst estimates of $19.5 billion.

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Apple’s AirTag 2 four-pack hits record low of $89

MacDailyNews — Thu, 30 Jul 2026 18:00:54 +0000

Apple’s new AirTag (second generation), now with an expanded finding range and a louder speaker.

Apple’s second-generation AirTag is currently available at its lowest price ever: $89 for a four-pack, down from the usual $99. The deal matches the previous all-time low first spotted during Amazon’s Prime Day event and remains one of the strongest discounts on the newer model.

A single AirTag 2 is also discounted to $27 (from $29). While that price isn’t quite as aggressive as some earlier promotions, it still ranks among the better current offers for buyers who only need one unit.

The AirTag 2 is a compact Bluetooth tracker that helps users locate everyday items like keys, wallets, bags, or luggage through Apple’s Find My network, showing the last known location on a map and enabling Lost Mode to lock the tag and display a custom contact message via NFC when found by someone else.

AirTag 2 offers Precision Finding with a second-generation Ultra Wideband chip that provides directional arrows, distance readouts, and haptic/audio cues from up to 50% farther away (on compatible iPhone 15 or later models, excluding certain variants), plus the first-time ability to use this feature on Apple Watch Series 9 or later and Ultra 2 or later; an upgraded Bluetooth chip for expanded proximity range; a 50% louder speaker with a distinctive new chime that can be heard from twice as far; “Left Behind” alerts; sharing location access with family or friends; temporary secure sharing with airlines for luggage recovery; a user-replaceable CR2032 battery lasting over a year; IP67 water and dust resistance; and built-in privacy protections including frequent Bluetooth ID rotation and end-to-end encryption so only the owner can access location data.

MacDailyNews Take: Get ’em while they last here.

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Daily usage of Siri among iPhone owners is currently 17%; that will change – Gene Munster

MacDailyNews — Thu, 30 Jul 2026 17:00:32 +0000

Apple’s all-new Siri AI. An even more capable AI assistant with expanded intelligence to be more helpful every day.

According to Gene Munster, an X poll indicated that only about 17% of U.S. iPhone users engage with Siri on a daily basis, a notably low figure given that the average iPhone is interacted with more than 100 times per day. At present, Siri is primarily used for low-stakes tasks and is not widely trusted as a full assistant.

Munster anticipates that this will begin to change over the next year. A new version — Siri AI — will become available in the U.S. late this year through an iOS 27 update. In beta testing conducted over the past 20 days, the feature was observed to be slow; however, this drawback was more than offset by an AI assistant that simply works effectively.

Ultimately, Munster believes that increased use of Siri (which is central to Apple’s personalized AI) will form the foundation of the value proposition for Apple devices.

Gene Munster via GeneMunster.com:
‎

We ran a simple one-question poll on X asking, “How often do you use Siri?” The poll drew 1,750 votes. The raw results showed daily Siri use at a low 17%, with 39% reporting they never use it. As a daily Siri user, these numbers caught my attention, underscoring the degree of brand damage the feature has endured over the past decade.

• Daily: 17%
• Weekly: 7%
• Rarely: 37%
• Never: 39%

The comments were more telling than the poll. Across 64 replies, the message was clear and expected: Siri survives as a basic utility or shortcut, not an assistant…

My takeaway: Siri today is, on average, not trusted. It works for a narrow set of commands where the cost of failure is low.

The question is, once Siri gets overhauled, will the 83% of users who question its utility give it another try? I believe the answer is yes.

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MacDailyNews Take: We fully agree with Gene.

Siri AI no longer just marketing. The rebuilt architecture works in real life — helping with souvenirs for the kids, prepping for your day, or analyzing your breakfast — while staying firmly within responsible boundaries.

The old Siri is gone. The new Siri AI has arrived in a very promising way – and it’s still just in beta. Our little birdies — who’ve been telling for months that the new Siri not only works, but is actually pretty great — knew what they were talking about! – MacDailyNews, June 20, 2026

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Granola AI notepad launches on Apple Watch, bringing one-tap meeting notes to your wrist

MacDailyNews — Thu, 30 Jul 2026 16:00:33 +0000

Granola AI notepad on Apple Watch

AI note-taking startup Granola has expanded its popular meeting notepad to the Apple Watch, letting users capture and transcribe conversations with a single tap—no phone or laptop required.

The new watchOS app, which launched on July 28, 2026, targets in-person and on-the-go discussions such as walking one-on-ones, whiteboard brainstorms, and casual coffee chats. Users can start recording via a dedicated app or a watch face complication. The screen turns bright Granola green and plays a sound to confirm it’s listening. When the conversation ends, a second tap stops the recording; the audio syncs to the paired iPhone, where Granola’s AI processes it into structured notes complete with highlights, decisions, and action items. Those notes then appear across the user’s iPhone, Mac, or Windows devices.

The company designed the experience around the idea that “the best wearable is the one you’re already wearing.” Co-founder Chris Pedregal noted that the goal is to let people stay present in face-to-face meetings without pulling a phone from their pocket. Internal testing showed that once employees had access to the Watch app, a substantial portion of their mobile Granola usage shifted from iPhone to wrist.

Granola can record offline on the Watch; a connection is needed only when the audio syncs and notes are generated. The app also surfaces subtle haptic reminders for upcoming calendar meetings and works seamlessly with the existing iOS, iPadOS, macOS, and Windows versions of Granola. It requires watchOS 11 or later and the latest Granola iPhone app. Installation is straightforward through the Watch app on iPhone if it doesn’t appear automatically.

The launch arrives as dedicated AI note-taking hardware (pins, pendants, and similar devices) has proliferated. Granola deliberately chose to build for an existing wearable rather than create new hardware. It also follows the company’s earlier unicorn milestone after a $125 million Series C led by Index Ventures.

To mark the release, Granola collaborated with London-based weaver Nowshin Prenon on a limited run of handwoven Apple Watch straps. The Watch app itself is free to download and use via the Granola iOS app.

With the Apple Watch increasingly positioned as an AI-friendly device, Granola’s arrival underscores growing interest in discreet, always-available capture tools that keep the focus on conversation rather than technology. Users can try it on their next in-person meeting simply by updating the iPhone app and installing the Watch companion.

MacDailyNews Take: More info about Granola for Apple Watch via Apple’s App Store here.

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Apple pledges support as wildfires ravage southern Europe

MacDailyNews — Thu, 30 Jul 2026 15:00:21 +0000

Apple’s outgoing CEO Tim Cook expressed solidarity with communities hit by the ongoing wildfires across southern Europe and confirmed the company will donate to on-the-ground relief efforts.

In a post on X late Wednesday, Cook wrote: “Our hearts go out to everyone affected by the devastating wildfires in southern Europe. Thank you to the first responders, and to everyone still in harm’s way, please stay safe. Apple will be donating to relief efforts on the ground.”

Our hearts go out to everyone affected by the devastating wildfires in southern Europe. Thank you to the first responders, and to everyone still in harm's way, please stay safe. Apple will be donating to relief efforts on the ground.

— Tim Cook (@tim_cook) July 30, 2026

The statement comes amid one of Europe’s most severe wildfire seasons in recent years. Intense heatwaves, dry vegetation, and strong winds have fueled major blazes in France, Spain, Greece, and other areas, burning hundreds of thousands of hectares, forcing hundreds of thousands of people to evacuate, and claiming lives including multiple firefighters.

In southwestern France, a large fire near Bordeaux has scorched around 42,000 hectares of pine forest, prompting the evacuation of roughly 220,000 residents and vacationers at its peak (with many later allowed to return as conditions eased somewhat). France has already recorded its highest wildfire-burned area in years, surpassing previous full-year totals with summer still underway.

Spain has faced its largest wildfire on record west of Madrid (in the Ávila region and surroundings), with total burned area across the country exceeding 200,000 hectares according to European data. Evacuations affected tens of thousands, and new outbreaks continued in provinces including Zamora, León, and Castellón.

In Greece, fires on Crete and elsewhere killed three firefighters and forced tourists and residents to flee, some by boat. Broader European Forest Fire Information System figures show far-above-average burned area and number of fires so far in 2026, driven by successive heatwaves that have left vegetation highly flammable.

Cook’s message follows Apple’s established pattern of offering financial support after major disasters without publicly disclosing exact donation amounts. Similar statements and aid have been issued after other recent crises.

MacDailyNews Note: As temperatures remain elevated and fire weather risks persist (particularly shifting eastward toward Italy and Greece in coming weeks) emergency crews continue battling the blazes while residents and responders face ongoing threats. Apple’s planned contribution aims to assist those recovery and relief operations already underway.

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Apple’s earnings report puts its AI safety premium to the test

MacDailyNews — Thu, 30 Jul 2026 14:00:30 +0000

Apple has emerged as Wall Street’s preferred Big Tech refuge this year as investors grow wary of heavy artificial intelligence spending by rivals. The company’s fiscal third quarter results, due after the market close on Thursday, will show whether that status can endure.

According to Bloomberg News’ Ryan Vlastelica, Apple’s shares have surged 17% in July and are on track for their strongest monthly performance in four years. The stock has climbed 24% in 2026, far outpacing the rest of the Magnificent Seven technology giants. Apple has also repeatedly crossed a $5 trillion market capitalization in recent sessions, reclaiming the title of the world’s most valuable publicly traded company and joining Nvidia Corp. as the only firms to reach that milestone.

The rally reflects a broader shift. Investors have rotated away from companies pouring tens or hundreds of billions of dollars into AI data centers and infrastructure, favoring Apple’s more restrained approach. The company has kept capital expenditures relatively modest (far below the outlays of peers such as Microsoft, Meta, Alphabet, and Amazon) while still integrating AI features, often by partnering with others including Google for underlying technology. That stance has positioned Apple as a lower-risk “AI safety play” with strong cash flow, substantial buybacks and pricing power.

Yet Thursday’s report, to be released after the closing bell, could highlight remaining challenges. Analysts will scrutinize iPhone demand following the iPhone 17 cycle, the impact of elevated memory chip costs on margins, the sustainability of a rebound in China, and any updates on Apple Intelligence and a more capable Siri. Consensus expectations call for revenue of roughly $109 billion and earnings per share near $1.89. The call will also mark Tim Cook’s final earnings appearance as chief executive before John Ternus assumes the role on September 1.

As Vlastelica noted in coverage of AAPL stock’s recent strength, the same caution that has made Apple a market leader this year also leaves it playing catch-up on advanced AI capabilities. Strong results and confident guidance could reinforce the safety narrative; any signs of slower hardware momentum or lingering AI execution gaps risk testing investors’ newfound enthusiasm.
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MacDailyNews Take: As always, it’s Apple’s guidance that will drive the stock after its earning report.

MacDailyNews Note: As usual, we’ll have Apple’s earnings results for you as soon as they are released on Thursday, July 30th right around 4:30pm EDT / 1:30pm PDT. We’ll follow that with live notes from Apple’s conference call with analysts starting at 5:00pm EDT / 2:00pm PDT.

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Berkshire Hathaway still holds $60 billion in Apple shares — and the stake keeps quietly growing

MacDailyNews — Thu, 30 Jul 2026 13:00:33 +0000

Despite heavy – and rather ill-timed – selling that reduced Berkshire Hathaway’s Apple position and sparked talk of a shift under new CEO Greg Abel, the tech giant remains the conglomerate’s largest equity holding by far. At roughly 228 million shares worth about $60 billion (around 22% of the stock portfolio), Apple continues to deliver dividends, massive unrealized gains, and a subtle ownership boost from the company’s relentless share buybacks—showing the trim was about risk management, not a loss of conviction.

Micah Zimmerman for The Motley Fool:
‎

Berkshire also sits on an enormous unrealized gain, since Berkshire’s cost basis is a fraction of today’s price, and the shares throws off a steady stream of dividends every year. Whatever the trimming implied, Apple is not a relic in this portfolio. It is the foundation.

Here’s the part that caught my eye. Apple spends tens of billions of dollars a year buying back its own stock, steadily shrinking the number of shares in circulation. That matters for Berkshire in a subtle but powerful way. Because the total share count keeps falling, Berkshire’s ownership percentage of Apple slowly rises even though it hasn’t bought a single new share. Its claim on Apple’s future profits quietly grows on autopilot.

Buffett has praised exactly this dynamic for years, calling it one of the reasons he loved the investment. He once compared it to your ownership of a business rising simply because your partners keep buying each other out. It means Apple keeps working for Berkshire in the background, compounding its stake without any action at all.

It is tempting to read the share sales as Berkshire’s loss of faith. I would read them differently. Apple’s position had grown so large that, at one point, it was worth more than everything else in the equity portfolio combined, a level of concentration that made even [Warren] Buffett uncomfortable. Trimming was about managing risk and locking in enormous gains at a rich valuation, not abandoning the thesis. Choosing to keep roughly $60 billion in Apple, rather than exiting entirely, is a statement of enduring conviction under Abel, not a goodbye.

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MacDailyNews Take: The two most beautiful words in the English language: passive income.

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Qualcomm forecasts weak quarterly profit, sees faster drop in Apple revenue

MacDailyNews — Wed, 29 Jul 2026 20:12:15 +0000

Qualcomm forecast fourth-quarter profit below Wall Street estimates on Wednesday and said revenue from Apple products would decline faster than expected as supply constraints and rising costs weighed on its business.

In an interview with Reuters, CEO Cristiano Amon said costs had risen not just for memory chips, but across the supply chain. Qualcomm plans to raise prices starting September 1 in an effort to return its margins to historical levels, he said.“We’re just passing through big cost increases that we have,” Amon said, noting that Qualcomm will have to negotiate with each customer. “The temporary disconnect between cost and pricing causes a slight decline temporarily in gross margin.”

Qualcomm also said it expects revenue from Apple products to decline more quickly starting in the fourth quarter as supply constraints reduce its share of components used in the next iPhone launch to well below its earlier estimate of 20%.

“It’s availability of supply,” Amon told Reuters of the Apple share change.For fiscal 2027, the company expects the majority of its chip sales will come from categories other than smartphones.

“We kind of replaced Apple with the data center,” Amon said.Qualcomm expects adjusted profit to be between $2.05 and $2.25 per share in the fourth quarter, below analysts’ average estimate of $2.36, according to data compiled by LSEG. It forecast revenue of between $9.7 billion and $10.5 billion during the period, compared with estimates of $10.02 billion.

Revenue in its chip segment is expected to be between $8.4 billion and $9 billion, while analysts were expecting $8.49 billion.

Qualcomm reiterated that revenue from Chinese phone makers bottomed out in the third quarter as customers worked through excess inventory. Xiaomi, Oppo, and Vivo posted the steepest shipment declines among the top five global smartphone vendors in the June quarter, according to Counterpoint Research.

While unit sales of Android phones began to recover, Amon said handset makers were forced to raise prices, which in turn prompted buyers to look toward the bottom end of the premium phone segment, or even at older models, both of which hurt Qualcomm margins.“There was a mix change versus what we expected,” Amon said.

Qualcomm’s broad exposure to devices such as smartphones makes its results a closely watched indicator of demand trends across consumer electronics.

MacDailyNews Note: Its third-quarter revenue fell 4% to $9.95 billion, beating estimates of $9.67 billion. Adjusted profit came in at $2.21 per share, compared with estimates of $2.23.

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Tim Cook and John Ternus discuss CEO transition and Apple TV’s legacy and future

MacDailyNews — Wed, 29 Jul 2026 19:00:22 +0000

Apple’s incoming CEO John Ternus (left) and outgoing CEO Tim Cook at Apple Park n Cupertino, California in April 2026.

Apple’s Tim Cook and incoming CEO John Ternus stepped onto the red carpet together at the Ted Lasso Season 4 premiere, matching in navy suits and “Believe” pins while reflecting on a smooth leadership handoff and the bright future of Apple TV.

In a joint interview with Deadline, Cook expressed excitement over Apple TV’s record 89 Emmy nominations, while Ternus shared his enthusiasm for the show’s return and the momentum behind Apple’s content slate.

Nellie Andreeva for Deadline:
‎

“We’ve been at it for seven years, and it feels like every year is better than the year before,” Cook said. “Now we’ve really hit our stride, and I couldn’t be more excited about where we’re going. We have 89 Emmy nominations, we’re so excited. I hope you’re watching Widow’s Bay, it’s a terrific show, and now tonight to bring Ted Lasso back, it’s marvelous.”

Cook announced his pending departure as CEO in April.

Turns out Ternus is a Ted Lasso fan too.

“I love Ted Lasso, I am so excited to have all the characters back, to have the story back,” he said. “It’s just such an amazing story, such an amazing message of optimism and hope and believe.”

As Ternus prepares to lead Apple, what ideas does he have for the company’s streaming service? Is he planning to make some changes? As a big racing fan, adding more racing, perhaps, to Apple TV’s Formula 1 coverage?

“I am just so excited about the momentum we have,” he said. “There’s so much great content on Apple TV, and now is just the perfect time for us to keep the momentum up, keep bringing in incredible storytellers and creative folks to keep making it better.”

“This year’s been amazing with Pluribus and Widows Bay. Right now, I’m watching Silo and Lucky,” Ternus said.

Added Cook, “I love Severance, I can’t wait for it to come back. I’m watching Widow’s Bay, as I mentioned. I love Pluribus. Silo is fantastic,” Cook said.

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MacDailyNews Note: Apple TV is available on the Apple TV app in over 100 countries and regions, on over 1 billion screens, including iPhone, iPad, Apple TV 4K, Apple Vision Pro, Mac, popular smart TVs from Samsung, LG, Sony, VIZIO, TCL and others, Roku and Amazon Fire TV devices, Chromecast with Google TV, PlayStation and Xbox gaming consoles, and at tv.apple.com, for $12.99 per month with a seven-day free trial for new subscribers. For a limited time, customers who purchase and activate a new iPhone, iPad, Apple TV 4K or Mac can enjoy three months of Apple TV for free.

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Apple TV announces ‘Silo’ season 4 is coming summer 2027

MacDailyNews — Wed, 29 Jul 2026 17:30:15 +0000

Rebecca Ferguson in Apple TV’s hit series “Silo.”

Apple TV has officially confirmed that the fourth and final season of its acclaimed dystopian sci-fi series “Silo” will premiere in summer 2027. The announcement came during the streamer’s panel at San Diego Comic-Con over the weekend, giving fans a clear timeline for the conclusion of the story adapted from Hugh Howey’s bestselling trilogy.

The official word arrived via Apple TV’s X account on July 25, 2026, The post includes a promotional video teasing the end of the saga:

The end is near.

The fourth and final season of #Silo premieres summer 2027. pic.twitter.com/j4vhyf27xM

— Apple TV (@AppleTV) July 25, 2026

“Silo” follows the last remnants of humanity living in a massive underground bunker, protected from a toxic outside world they barely understand. Starring and executive produced by Rebecca Ferguson as engineer Juliette Nichols, the series has built a dedicated following with its tense mysteries, intricate world-building, and strong ensemble cast that includes Common, Tim Robbins, Harriet Walter, and others.

Season 3, which premiered on July 3, 2026, is currently airing weekly on Apple TV, with new episodes dropping every Friday through September 4th. That season expands the story with an origin narrative set centuries earlier while advancing the present-day plot.

Importantly, Seasons 3 and 4 were filmed largely back-to-back after Apple renewed the show for both installments in late 2024. Production on the final season wrapped earlier this year. Season 4 is expected to adapt the concluding novel Dust, wrapping up the major unanswered questions about the silos and humanity’s fate.

Showrunner Graham Yost has emphasized the value of knowing the full arc in advance, allowing the creative team to deliver a satisfying conclusion without the uncertainty that often plagues streaming series. With Season 3 still unfolding and Season 4 locked in for next summer, the wait between the final two chapters will be relatively short by modern prestige TV standards.

Fans can continue catching up on or following Season 3 on Apple TV right now. The series has earned strong critical praise across its run for its thoughtful exploration of power, truth, and survival in a closed society. When Season 4 arrives in summer 2027, it will mark the definitive end of the “Silo” series, and the larger story of the silos.

MacDailyNews Take: Here’s to timely annual streaming TV seasons!

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What’s new in tvOS 26.6 and HomePod 26.6

MacDailyNews — Wed, 29 Jul 2026 16:00:43 +0000

Apple’s current Apple TV 4K and its Siri Remote

Apple released tvOS 26.6 and HomePod Software 26.6 on July 27, 2026, as part of a broader wave of point updates that also included iOS 26.6, iPadOS 26.6, macOS Tahoe 26.6, watchOS 26.6, and visionOS 26.6.

These are maintenance releases rather than feature-packed upgrades. With the major tvOS 27 and HomePod Software 27 updates already in beta and expected in the fall, Apple focused the 26.6 cycle on under-the-hood refinements: bug fixes, performance and stability improvements, and a substantial set of security patches. No significant new user-facing features were identified during the beta period for either platform.

tvOS 26.6

tvOS 26.6 is available for the Apple TV HD and all Apple TV 4K models. It arrives roughly two months after tvOS 26.5 and continues the pattern of incremental polish for the 26 series, which introduced the Liquid Glass design language and other enhancements in fall 2025.

Apple’s developer release notes highlight only a small number of resolved issues (such as specific HealthKit statistics query problems and StoreKit testing behavior in the simulator). The public-facing emphasis is on general reliability and security. The security content document lists dozens of fixes across frameworks including Accounts, App Store, Kernel, CoreAudio, ImageIO, and others—addressing potential issues like user fingerprinting, data access, denial-of-service conditions, and memory corruption.

Notably, tvOS 27 is expected to drop support for the Apple TV HD and the first-generation Apple TV 4K. Owners of those models will remain on the tvOS 26.x line (including future minor updates after 26.6) for as long as Apple continues to support them.

How to update:

On your Apple TV, open Settings > System > Software Update. Devices with automatic updates enabled should receive it without manual intervention.

HomePod Software 26.6

HomePod Software 26.6 (build 23L773) rolls out to the original HomePod, HomePod mini, and later models. Like the concurrent tvOS release, it carries no new headline features. Apple has not published detailed public release notes beyond the standard language of performance and stability improvements, which has been typical for most 26.x point releases after the initial HomePod Software 26 launch (that version added Crossfade for Apple Music and AirPlay refinements).

The update shares the same late-cycle focus on reliability and security hardening as the rest of the 26.6 family. It is installed automatically on most HomePods unless the feature has been disabled; manual installation is available through the Home app on iPhone, iPad, or Mac (Home Settings > Software Update).

These releases represent the late-stage maintenance phase of the 26-generation operating systems. Engineering attention has largely shifted to the 27 series unveiled at WWDC 2026, which is currently in public beta and slated for a fall launch. That upcoming generation is expected to bring more substantial changes, including further Siri and Apple Intelligence integration (particularly relevant for future HomePod and Apple TV hardware) and other refinements.

MacDailyNews Take: Both tvOS 26.6 and HomePod Software 26.6 deliver a quieter, but useful round of fixes and security updates. Installing them keeps your Apple TV and HomePod devices running smoothly and better protected while the bigger fall upgrades take shape.

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What Wall Street expects from Apple’s Q3 earnings on Thursday

MacDailyNews — Wed, 29 Jul 2026 15:00:01 +0000

Apple is scheduled to report fiscal third-quarter 2026 results (the June quarter) after the market close on Thursday, July 30th, followed by its usual conference call. The release carries extra weight: it is expected to be Tim Cook’s final earnings call as CEO before hardware engineering chief John Ternus assumes the role on September 1, with Cook moving to executive chairman.

Consensus Estimates

Wall Street is looking for solid double-digit growth. Consensus forecasts (drawn from roughly 27–31 analysts) call for:

• Revenue of approximately $108.9 billion, up about 16% from $94.0 billion a year earlier.

• Diluted EPS of $1.89, up roughly 20% from $1.57 in the year-ago quarter.

These figures sit comfortably inside management’s prior guidance of 14–17% year-over-year revenue growth and a gross margin range of 47.5–48.5% (down from 49.3% in the March quarter as higher memory costs begin to weigh). Operating expenses are expected in the $18.8–$19.1 billion range.

Zacks consensus is nearly identical at $108.8 billion in sales and $1.88 EPS. Apple has beaten estimates in recent quarters, with an average earnings surprise of more than 7% over the past four reports.

Segment Expectations

• iPhone remains the primary driver. Analysts project iPhone revenue near $53 billion (some estimates range $53–$55 billion), representing roughly 19–23% growth from $44.6 billion last year, fueled by the iPhone 17 cycle, healthy upgrade activity, share gains, and a richer mix of higher-priced Pro models.

• Services, Apple’s high-margin growth engine, is expected around $31.4 billion, up from $27.4 billion a year earlier (mid-teens percentage growth). Investors will watch for any commentary on Apple Intelligence adoption and subscription momentum.

• Mac, iPad, and Wearables are expected to contribute more modestly, with some notes of supply constraints on certain Mac models.

Analyst Views

Several firms are slightly ahead of consensus. Goldman Sachs expects revenue of $110.1 billion (17% growth) and EPS of $1.93, citing outperformance in iPhone and Mac plus better margins; the firm raised its price target to $370. Bank of America models about $109 billion in revenue and $1.89 EPS. UBS is more cautious at $107.8 billion revenue and $1.84 EPS.

Key focus areas on the call are expected to include:

• Sustainability of iPhone demand into the September quarter and the upcoming product cycle.

• Gross-margin trajectory amid elevated DRAM and NAND costs.

• Progress on AI features (including the recent clearance for Apple Intelligence in Greater China) and any early metrics on usage or monetization.

• Forward guidance, especially for the September quarter, and any color on the leadership transition.

• Capital return, inventory levels, and China trends.

Apple stock has rallied strongly in 2026 (up roughly 24% year-to-date in some tallies), leaving the shares trading at a premium valuation — near 35–38 times forward earnings by some measures. That leaves limited room for disappointment. A clean beat paired with confident guidance on continued double-digit growth and stable margins would likely be well received; any soft outlook or sharper-than-expected margin pressure could prompt a more cautious reaction.
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MacDailyNews Take: In a nutshell, analysts expect another strong quarter driven by iPhone and Services, but the real test will be whether Apple can sustain the momentum while navigating higher component costs as new CEO John Ternus, blessedly a product guy per se, prepares to take the reins. Apple Upgrade should help in this respect.

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Apple-led foreign phone shipments in China jump 66% in June as overall market shrinks

MacDailyNews — Wed, 29 Jul 2026 14:00:25 +0000

Apple’s iPhone 17 Pro

Shipments of foreign-branded smartphones in China, overwhelmingly dominated by Apple’s iPhones, surged 66.3% year-on-year to 3.28 million units in June, according to Reuters calculations based on data from the China Academy of Information and Communications Technology (CAICT).

Apple is by far the largest foreign brand in the Chinese market, routinely accounting for the bulk of non-domestic shipments. Other foreign makers, such as Samsung, hold only a negligible share. As a result, the CAICT’s “foreign-branded” category is widely viewed by analysts as a close proxy for iPhone performance.

The sharp rebound for foreign (mainly Apple) devices came even as the broader Chinese smartphone market continued to contract. Total phone shipments within China fell 15.3% from a year earlier to 19.15 million handsets in June, the government-affiliated research body reported on Wednesday.

The figures underscore a clear divergence in the world’s largest smartphone market. While overall demand remains soft amid economic pressures and longer upgrade cycles, Apple has been gaining ground relative to many domestic Android rivals. In the second quarter of 2026, Apple was one of only two major brands (alongside Huawei) to post shipment growth, lifting its market share to roughly 18%.

CAICT’s monthly data is closely tracked as an early signal of consumer demand and brand momentum in China. The June results suggest that premium foreign devices, led by Apple’s iPhone, continue to outperform the wider market even as total volumes stay under pressure.
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MacDailyNews Take: We can hardly wait for Apple to release its June quarter earnings results tomorrow!

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Apple poised for strongest June-quarter sales growth in five years

MacDailyNews — Wed, 29 Jul 2026 13:00:35 +0000

Apple is on track for its strongest June-quarter sales growth in five years after holding iPhone prices steady amid rising component costs, according to Reuters reporting. Investors, however, will be watching closely for signals on how long the company can avoid price increases on its flagship product.

Reuters reported that the consumer electronics giant raised prices on iPads and MacBooks last month to offset higher costs from a shortage of memory and storage chips driven by massive AI datacenter buildouts. It spared iPhones, even as rival smartphone makers passed on those costs, contributing to a decline in global smartphone shipments in the April-June quarter to the lowest level in 13 years.The strategy appears to have paid off. iPhone shipments rose 3% and Apple’s market share climbed to nearly a fifth, according to estimates from research firm Counterpoint cited by Reuters. Combined with the fact that Apple has not spent hundreds of billions of dollars on data centers, this helped the company reclaim the title of the world’s most valuable company from Nvidia after two years, as doubts about the AI boom grow.

Apple shares, up nearly 25% so far this year, briefly pushed the company’s market value above $5 trillion for the first time on Tuesday and have widely outperformed the rest of the stocks among the “Magnificent Seven.”

“Apple was initially scorned by many investors for not joining the AI investment cycle. Now, it is actually being rewarded as investors question the relationship between (Big Tech’s) spending and return on investment,” said Dan Morgan, portfolio manager at Synovus Trust, which owns Apple shares, according to Reuters.

Last week, Alphabet stunned investors with a negative free cash flow for the first time in its history, Reuters noted. Morgan said he expects Apple to increase prices later this year, which could dampen demand and put pressure on a company whose high valuation does not leave “a lot of room for error.”

Analysts expect Apple to raise prices when it releases its next iPhone series, typically in September. Earlier this month, the company raised the price of Apple Music and Apple One, a subscription bundle for multiple Apple services, Reuters reported.

According to LSEG data cited by Reuters, Apple is expected to report that revenue rose 15.5% to $108.65 billion in the April-June period, its fiscal third quarter. That is slightly slower than the previous three months but marks the strongest third-quarter sales growth since 2021. Profit growth is expected to slow slightly to 18.1% as gross margin slips to 47.9% from 49.3% in the previous quarter.

Some analysts said the popularity of Apple’s devices and its strong ecosystem is likely to stave off any major demand hit for iPhones from price hikes, which could protect margins.“Apple’s core product demand has been somewhat inelastic, with iPhone being the most inelastic product within Apple’s product ecosystem, followed by Mac and then iPad,” Morgan Stanley analysts said. “This generally means that recent price increases are unlikely to materially disrupt demand, especially considering supply challenges at peers.”

iPhone sales likely increased 20.8% in the period, also marking the strongest third-quarter growth since 2021, Reuters reported. Mac revenue growth is expected to improve to 8.7% from 5.7% in the previous quarter despite the price increase, while iPad sales are expected to slow slightly to 5.2% from 8% in the second quarter.

MacDailyNews Note: As usual, we’ll have Apple’s earnings results for you as soon as they are released on Thursday, July 30th right around 4:30pm EDT / 1:30pm PDT. We’ll follow that with live notes from Apple’s conference call with analysts starting at 5:00pm EDT / 2:00pm PDT.

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No, Apple won’t turn on any ‘restricted mode’ for missed lease payments

MacDailyNews — Tue, 28 Jul 2026 22:35:34 +0000

Apple will not limit the functionality of devices enrolled in its new Upgrade leasing program if customers miss payments or default on the agreement. In an emailed statement to The Verge, Apple spokesperson Brian Bumbery said: “There will be no restricted mode and/or there will be no limitations put on device functionality due to missed payments or default with the Apple Upgrade program.”

The clarification follows reporting from 9to5Mac, which identified code in an iOS 27 beta referring to a new “App Managed Features” system. According to that reporting, the system would have allowed financial partners to perform ongoing status checks on a device and enabled Apple’s system services to place it into “Restricted Mode” if the owner was not in good financial standing. Restricted Mode, as described, would have blocked access to most apps while leaving core functions such as Phone, the App Store, Clock, Settings, and Wallet available.

Apple’s statement to The Verge directly addresses those concerns, stating that no such restrictions will be applied under the Upgrade program. The program itself allows customers to lease new iPhones, Macs, iPads, and other devices with the option to upgrade periodically.

The confirmation provides reassurance that leased devices will retain full functionality even in cases of missed payments, distinguishing the Upgrade program from any potential remote management features that had been observed in early iOS 27 code.
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MacDailyNews Take: Apple has not explained to The Verge the intended purpose of Restricted Mode. One possibility is that the feature was built for financing programs run by carriers, retailers, or other partners outside the Apple Upgrade program—particularly in markets where device restrictions are already commonly used to enforce installment plans.

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Apple shares hit new all-time closing and intraday highs

MacDailyNews — Tue, 28 Jul 2026 20:30:10 +0000

In Nasdaq trading today, shares of Apple Inc. (AAPL) rose $3.17 to $340.08 to hit a new all-time closing high. Apple’s all-time intraday high was also set today at $342.89.

Apple’s 52-week low stands at $201.50.

Today’s trading volume for AAPL shares was 50,765,695 versus Apple’s average trading volume of 55,539,493 shares.

Apple’s PE Ratio currently stands at 41.22.

Apple currently has a market value of $4.995 trillion, making it the world’s most valuable company.

The top five U.S. publicly-traded companies, based on market value:

Apple (AAPL) – $4.995T

NVIDIA (NVDA) – $4.772TT

Alphabet (GOOGL) – $4.081T

Microsoft (MSFT) – $2.922T

Amazon (AMZN) – $2.483T

Selected companies’ current market values:

• SpaceX (SPCX): $1.534T
• Meta Platforms (META): $1.506T
• Tesla (TSLA): $1.214T
• Berkshire Hathaway (BRK-A): $1.100T
• Walmart (WMT): $900.059B
• Advanced Micro Devices (AMD): $741.304B
• Intel (INTC): $435.297B
• Cisco (CSCO): $455.551B
• Netflix (NFLX): $301.428B
• Dell (DELL): $253.594B
• IBM (IBM): $214.326B
• SoftBank (SFTBF): $176.724B
• Disney (DIS): $171.741B
• Sony (SONY): $130.897B
• Spotify (SPOT): $104.260B
• Adobe (ADBE): $99.025B
• Nokia (NOK): $49.992B
• Hewlett-Packard (HPQ): $25.858B
• SiriusXM (SIRI): $10.562B
• BlackBerry (BB): $4.721B
• Sonos (SONO): $2.001B
• Liquidmetal (LQMT): $0.249B
• RealNetworks (RNWK) was delisted from U.S. exchanges on December 21, 2022 and is no longer publicly traded.

Apple all-time high (AAPL) via NASDAQ here.

MacDailyNews Take: To the moon, Alice. To the moon!

On April 20, when Apple announced Tim Cook would be kicked upstairs to be replaced by product guy John Ternus as CEO, AAPL closed at $273.05 after being range-bound all year. Since that announcement, AAPL has surged as high as today’s $342.89. That 25.58% leap in under 90 days highlights just how favorably Apple investors view John Ternus.

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What’s new in Apple’s iOS 26.6 and iPadOS 26.6

MacDailyNews — Tue, 28 Jul 2026 19:15:03 +0000

Apple’s iOS 26.6

Apple released iOS 26.6 and iPadOS 26.6 to the public on July 27, 2026. These are maintenance updates focused on stability, security, and quiet preparation for the major iOS 27 and iPadOS 27 releases expected this fall, rather than flashy new user-facing features.

Apple’s official release notes for both platforms are nearly identical: “This update includes bug fixes, security updates and optimizes the Spotlight index to prepare for iOS 27” (or iPadOS 27).

Spotlight index optimization for the next major release

The most significant change is largely invisible. iOS 26.6 and iPadOS 26.6 begin optimizing and re-indexing device data for Spotlight. This work is foundational for the overhauled Spotlight search and deeper Siri AI integration coming in the “27” generation, where search and on-device intelligence will be more tightly linked.

Early beta testers of the next major OS versions reported that full indexing could take a week or longer on devices with large amounts of data. By starting the process now, Apple aims to deliver a smoother upgrade experience in the fall, so the enhanced features are ready (or nearly ready) right after installation.

Security updates

The updates deliver a substantial security payload—more than 70–75 fixes across the two platforms. These address issues in areas including the kernel, MediaRemote (a path-handling vulnerability that could allow root privileges), WebKit, Accessibility (including protections related to iPhone Mirroring), Siri information disclosure, App Store, Game Center, and others.

Apple has also strengthened Apple Maps by introducing BlastDoor-style sandboxing (MapsBlastDoorSupport.framework and a dedicated service). This isolates potentially risky map data processing in a manner similar to iMessage’s security architecture, reducing the impact of any future vulnerabilities without changing how users interact with the app.

Other notable changes

• Blocked Contacts Limit Reached alert: iOS and iPadOS impose a limit on the number of blocked contacts (reported around 20,000). Previously there was little or no clear feedback when the limit was hit. The update adds an explicit alert that directs users to remove an existing blocked contact before adding another.

• Enterprise/managed device fix: Resolution for an issue where the DisableAssociationMACRandomization configuration key did not properly prevent changes to the Private Wi-Fi Address setting.

Various additional bug fixes for reliability and edge cases accumulated since earlier 26.x point releases.

No major interface redesigns, new apps, or high-profile user features were introduced. These point releases follow the pattern of later 26.x updates as Apple shifts primary development focus to the next major generation.

Availability and recommendation

iOS 26.6 and iPadOS 26.6 are available now via Settings > General > Software Update on compatible devices (generally iPhone 11 and later for iOS, and corresponding recent iPad models for iPadOS). They are widely viewed as the final significant point updates in the 26 series before the fall “27” launches.

MacDailyNews Note: Because of the large number of security patches and the proactive Spotlight preparation work, users are encouraged to install the updates promptly. Doing so improves current device security and positions devices for a cleaner transition to the upcoming major OS versions and their enhanced AI capabilities.

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Apple TV hosts the world premiere for the fourth season of ‘Ted Lasso’

MacDailyNews — Tue, 28 Jul 2026 18:30:16 +0000

Brendan Hunt, Tanya Reynolds, Jason Sudeikis, Hannah Waddingham, Jeremy Swift and Juno Temple attend the world premiere celebrating season four of the beloved Apple TV series “Ted Lasso” at the Academy Museum of Motion Pictures on July 27, 2026, in Los Angeles, California. The new season of “Ted Lasso” premieres globally on Apple TV on Wednesday, August 5, 2026.

Last night at the Academy Museum of Motion Pictures in Los Angeles, Apple TV celebrated the world premiere of the upcoming fourth season of its Emmy Award-winning, juggernaut comedy “Ted Lasso.” Red carpet attendees included ensemble cast members Jason Sudeikis, Hannah Waddingham, Jeremy Swift, Brendan Hunt, Tanya Reynolds, Jude Mack, Faye Marsay, Rex Hayes, Aisling Sharkey, Abbie Hern and Grant Feely, alongside showrunner Jack Burditt and executive producers Bill Lawrence, Jeff Ingold, Jane Becker, Jamie Lee and Liza Katzer. “Ted Lasso” returns to the pitch for its highly anticipated fourth season on Wednesday, August 5, 2026, on Apple TV.

In season four, Ted returns to Richmond, taking on his biggest challenge yet: coaching a second-division women’s football team. Throughout the course of the season, Ted and the team learn to leap before they look, taking chances they never thought they would. The new season reunites fan favorites, including Emmy Award winner Hannah Waddingham, Juno Temple, Emmy Award winner Brett Goldstein, Brendan Hunt and Jeremy Swift, alongside new additions Tanya Reynolds, Jude Mack, Faye Marsay, Rex Hayes, Aisling Sharkey, Abbie Hern and Grant Feely.

The cast attends the world premiere celebrating season four of the beloved Apple TV series “Ted Lasso” at the Academy Museum of Motion Pictures on July 27, 2026, in Los Angeles, California. The new season of “Ted Lasso” premieres globally on Apple TV on Wednesday, August 5, 2026.

“Ted Lasso” is executive produced by Jason Sudeikis alongside Hunt, Joe Kelly, Jane Becker, Jamie Lee and Bill Wrubel. Emmy Award winner Jack Burditt serves as executive producer on season four under a new overall deal with Apple TV. Goldstein serves as writer and executive producer alongside Leann Bowen. Sarah Walker and Phoebe Walsh serve as writers and producers for season four, and Sasha Garron serves as co-producer. Julia Lindon writes for season four, and Dylan Marron serves as story editor. Bill Lawrence executive produces via his Doozer Productions, in association with Warner Bros. Television and Universal Television, a division of Universal Studio Group. Doozer’s Jeff Ingold and Liza Katzer also serve as executive producers. The series was developed by Sudeikis, Lawrence, Kelly and Hunt and is based on the preexisting format and characters from NBC Sports.

Following its global debut on Apple TV, “Ted Lasso” broke records and quickly earned praise from fans and critics all over the world. The first season became the most Emmy Award-nominated comedy series, and the series went on to land rare back-to-back Emmy Awards for Outstanding Comedy Series for its first two seasons.

Apple TV offers premium, compelling drama and comedy series, feature films, groundbreaking documentaries, and kids and family entertainment, and is available to watch across all of a user’s favorite screens. After its launch on November 1, 2019, Apple TV became the first all-original streaming service to launch around the world, and has premiered more original hits and received more award recognitions faster than any other streaming service in its debut. To date, Apple Original films, documentaries and series have been honored with 852 wins and 3,804 award nominations and counting, including multi-Emmy Award-winning and history-making comedies “The Studio” and “Ted Lasso,” global cultural phenomenon “Severance,” Apple’s most-viewed drama “Pluribus,” Academy Award Best Picture winner “CODA” and Academy Award winner “F1,” the highest-grossing sports feature of all time.
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MacDailyNews Note: Apple TV is available on the Apple TV app in over 100 countries and regions, on over 1 billion screens, including iPhone, iPad, Apple TV 4K, Apple Vision Pro, Mac, popular smart TVs from Samsung, LG, Sony, VIZIO, TCL and others, Roku and Amazon Fire TV devices, Chromecast with Google TV, PlayStation and Xbox gaming consoles, and at tv.apple.com, for $12.99 per month with a seven-day free trial for new subscribers. For a limited time, customers who purchase and activate a new iPhone, iPad, Apple TV 4K or Mac can enjoy three months of Apple TV for free.

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Apple briefly hits $5 trillion market cap, becoming only the second company to reach the milestone

MacDailyNews — Tue, 28 Jul 2026 17:15:37 +0000

Apple’s market value briefly crossed the $5 trillion mark for the first time on Tuesday, July 28, 2026, making the iPhone maker only the second company in history to achieve that level after Nvidia.

Shares of Apple rose as high as $342.89 during the session, pushing its market capitalization to approximately $5.036 trillion. They later traded at $339.70, leaving the company valued at about $4.991 trillion.

The milestone comes just weeks after Apple reclaimed the title of the world’s most valuable company, overtaking Nvidia. The chipmaker had held the top spot since June 2025 and was the first firm ever to breach $5 trillion.

Apple’s strong performance this year has been fueled by solid demand for its products and a deliberate decision to stay largely on the sidelines of the costly artificial-intelligence infrastructure race that has pressured cash flows at many of its Big Tech peers. While the company has struggled to develop competitive in-house AI models, it has leaned on Google’s technology to power features such as an upgraded Siri, avoiding the heavy data-center investments that have made some investors cautious about returns.

Holding iPhone prices steady last month — while raising prices on MacBooks and iPads — has also supported demand, as consumers bought the flagship device ahead of expected future price increases. To further boost accessibility, Apple launched a U.S. device-leasing program on Tuesday in partnership with Klarna. Monthly payments start at $17.99 for an iPhone, $11.99 for an Apple Watch or iPad, and $24.99 for a Mac.

“Apple has resisted the AI spending race, betting that customer experience — not infrastructure investment — will ultimately determine the winners,” Dipanjan Chatterjee, vice president and principal analyst at Forrester, told Reuters. “The new leasing program is a clever response: it doesn’t reduce the price of an iPhone, but it changes how consumers perceive the cost by replacing sticker shock with a predictable monthly payment.”

Including Tuesday’s gains, Apple stock has climbed 24% year-to-date, outperforming the rest of the so-called Magnificent 7 technology stocks. The company is scheduled to report fiscal third-quarter results after the market close on Thursday, with analysts forecasting more than 15% year-over-year revenue growth.
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MacDailyNews Note: As usual, we’ll have Apple’s earnings results for you as soon as they are released on Thursday, July 30th right around 4:30pm EDT / 1:30pm PDT. We’ll follow that with live notes from Apple’s conference call with analysts starting at 5:00pm EDT / 2:00pm PDT.

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Apple faces lawsuit over fake Bitcoin wallet left on App Store after massive losses

MacDailyNews — Tue, 28 Jul 2026 17:00:44 +0000

Apple is facing a new lawsuit accusing the company of allowing a fraudulent Bitcoin wallet app to remain on its App Store for more than a week after users reported significant losses.

According to the complaint, three individuals collectively lost approximately $1.84 million after downloading an app that impersonated the legitimate Sparrow Wallet. The victims entered their Bitcoin seed phrases into the fake application, enabling scammers to drain their funds. One plaintiff reported losing $875,000, while another lost $840,000; the delay in removing the app after the first report allegedly contributed to further losses.

The lawsuit claims Apple’s marketing and App Store presentation led users to believe applications available on the platform undergo careful vetting and are safe. Plaintiffs allege the company ranked the fraudulent app and even included it in curated cryptocurrency app collections alongside genuine Bitcoin wallets. The legal action accuses Apple of violating consumer-protection laws, engaging in fraudulent and negligent misrepresentation, and failing to adequately warn consumers about risks.

This is not the first time Apple has faced similar claims. In 2021, cryptocurrency holders sued the company over a fake wallet app scam; that case was ultimately dismissed by a federal judge.

Apple has stated that it has removed apps impersonating Sparrow Wallet from the App Store and terminated the associated developer accounts.

MacDailyNews Note: The plaintiffs are seeking reimbursement of the stolen assets along with compensatory and punitive damages.

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Apple TV series ‘Ted Lasso’ returns to the pitch in season four trailer

MacDailyNews — Tue, 28 Jul 2026 16:00:19 +0000

The fourth season of “Ted Lasso” premieres Wednesday, August 5 on Apple TV.

Apple TV on Tuesday unveiled the trailer for the fourth season of its hit series “Ted Lasso,” starring and executive produced by Emmy Award winner Jason Sudeikis. “Ted Lasso” returns with its 10-episode new season on Wednesday, August 5, 2026 with one episode, followed by new episodes every Wednesday through October 7 on Apple TV.

In season four, Ted returns to Richmond, taking on his biggest challenge yet: coaching a second division women’s football team. Throughout the course of the season, Ted and the team learn to leap before they look, taking chances they never thought they would. The new season reunites fan favorites, including Emmy Award winner Hannah Waddingham, Juno Temple, Emmy Award winner Brett Goldstein, Brendan Hunt and Jeremy Swift, alongside new additions Tanya Reynolds, Jude Mack, Faye Marsay, Rex Hayes, Aisling Sharkey, Abbie Hern and Grant Feely.

“Ted Lasso” is executive produced by Sudeikis alongside Hunt, Joe Kelly, Jane Becker, Jamie Lee and Bill Wrubel. Emmy Award winner Jack Burditt serves as executive producer on season four under a new overall deal with Apple TV. Goldstein serves as writer and executive producer alongside Leann Bowen. Sarah Walker and Phoebe Walsh will serve as writers and producers for season four, and Sasha Garron co-produces. Julia Lindon will write for season four, and Dylan Marron will serve as story editor. Bill Lawrence executive produces via his Doozer Productions, in association with Warner Bros. Television and Universal Television, a division of Universal Studio Group. Doozer’s Jeff Ingold and Liza Katzer also serve as executive producers. The series was developed by Sudeikis, Lawrence, Kelly and Hunt, and is based on the preexisting format and characters from NBC Sports.
Following its global debut on Apple TV, “Ted Lasso” broke records and quickly earned praise from fans and critics all over the world. The first season became the most Emmy Award-nominated comedy series, and the series went on to land rare back-to-back Emmys for Outstanding Comedy Series for its first two seasons on air.

Apple TV offers premium, compelling drama and comedy series, feature films, groundbreaking documentaries, and kids and family entertainment, and is available to watch across all of a user’s favorite screens. After its launch on November 1, 2019, Apple TV became the first all-original streaming service to launch around the world, and has premiered more original hits and received more award recognitions faster than any other streaming service in its debut. To date, Apple Original films, documentaries and series have been honored with 852 wins and 3,804 award nominations and counting including multi-Emmy Award-winning and history-making comedies “The Studio” and “Ted Lasso,” global cultural phenomenon “Severance,” Apple’s most-viewed drama “Pluribus,” Academy Award Best Picture winner “CODA” and Academy Award winner “F1,” the highest-grossing sports feature of all time.

MacDailyNews Take: After season three, we approach this season with trepidation.

See also: Will ‘Ted Lasso’ Season 4 be a woke disaster like Season 3? – July 22, 2026
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MacDailyNews Note: Apple TV is available on the Apple TV app in over 100 countries and regions, on over 1 billion screens, including iPhone, iPad, Apple TV 4K, Apple Vision Pro, Mac, popular smart TVs from Samsung, LG, Sony, VIZIO, TCL and others, Roku and Amazon Fire TV devices, Chromecast with Google TV, PlayStation and Xbox gaming consoles, and at tv.apple.com, for $12.99 per month with a seven-day free trial for new subscribers. For a limited time, customers who purchase and activate a new iPhone, iPad, Apple TV 4K or Mac can enjoy three months of Apple TV for free.

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Incoming Apple CEO John Ternus vows to build on movie and TV momentum

MacDailyNews — Tue, 28 Jul 2026 15:00:08 +0000

Apple’s incoming CEO John Ternus

Apple’s incoming CEO, hardware chief John Ternus, said he was committed to building on the company’s momentum in the entertainment business when he takes the helm of the company on September 1st.

The technology giant began offering original TV series and films through the Apple TV+ streaming app in 2019. The company found success with Oscar best picture winner “CODA,” box-office blockbuster “F1” and Emmy-winning shows such as “The Studio” and “Ted Lasso.”

Last year, Apple dropped the plus sign and renamed the service Apple TV.

“I think we have such tremendous momentum right now in Apple TV,” Ternus told Reuters on the red carpet at the premiere of the fourth season of “Ted Lasso.”

“There’s so many amazing shows, so many amazing characters and stories, and so we’re just going to keep building on the momentum,” Ternus said

Ternus stood next to outgoing CEO Tim Cook, who said he is sharing his insights about the entertainment business as part of the leadership transition.

“Our role is to be the best. That’s our lane,” Cook said of Apple’s entertainment strategy. “We’re not about the most. There are… other companies that do that. But we’re about the best, and I feel like we really hit our stride in providing that.”

Cook said Apple was open to future partnerships in the entertainment realm if the company feels it can bring a particular expertise. He pointed to the arrangement with the Formula 1 racing league.

For the Brad Pitt movie “F1,” Apple built custom cameras to help make audiences feel like they were inside a race car. F1 races are now shown exclusively on Apple TV in the United States, and the company provides leaderboards, updates and other coverage on Apple News and other apps.

“We’ll do things that we can bring something unique to, where we can innovate in a way that others might not be able to,” Cook said. “I feel like we’re really doing that with F1. We’re so excited about how we’re doing there and the viewership numbers that we’re getting. So more things like that would be possible.”

MacDailyNews Take: Everyone’s on the same page: Last month, senior Apple executive Eddy Cue told Reuters the company’s goal was to offer “better and more” TV shows and movies on Apple TV streaming and in theaters.

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Apple prepares major smart home push with new Apple TV 4K, HomePod mini, and Siri AI hub

MacDailyNews — Tue, 28 Jul 2026 14:00:41 +0000

Apple’s current Apple TV 4K and its Siri Remote

Apple, long viewed as a laggard in the smart home market, is preparing a significant expansion into the category with a slate of new devices and software centered on an upgraded Siri AI assistant, according to Bloomberg News’ Mark Gurman.

The company plans to begin this wave soon with a dedicated smart home hub built around the new Siri AI capabilities, people familiar with the matter told Bloomberg. Apple is also readying a new Apple TV 4K set-top box and a refreshed HomePod mini, the sources said, speaking on condition of anonymity because the plans remain private.

The updated Apple TV and HomePod mini are expected to launch this fall, while the long-awaited smart home hub featuring a screen is targeted for release between the end of the year and early next year, Gurman reports.

The moves mark a notable acceleration in Apple’s home strategy after years of more limited offerings. The new hardware is designed to work with enhanced Siri AI features that promise improved conversational abilities and deeper integration across the Apple ecosystem.
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MacDailyNews Take: We wish Apple would release some indoor and outdoor cameras, but, as we need them now, we’re going to have to go with some other company instead.

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‘Apple Upgrade’ launches in the U.S.; new product leasing program for iPhone, Apple Watch, Mac, and iPad

MacDailyNews — Tue, 28 Jul 2026 13:00:01 +0000

Apple Upgrade — a new hardware leasing program — is available on the Apple Store online, in the Apple Store app, and at Apple Store locations in the United States.

Apple today announced Apple Upgrade, a new product leasing program provided by Klarna for iPhone, Apple Watch, Mac, and iPad available on the Apple Store online, in the Apple Store app, and at Apple Retail Store locations in the United States. Apple Upgrade makes it even easier for customers to get the Apple products they love with a leasing plan that is right for them.

“At Apple, we put the customer at the center of everything we do,” said Karen Rasmussen, Apple’s vice president of the Apple Store online, in a statement, “and we’re thrilled that Apple Upgrade offers our customers, both online and in-store, a more flexible way to pay for the products they love.”

Apple Upgrade offers 12- and 24-month leasing options for iPhone and Apple Watch, and 24- and 36-month leasing options for Mac and iPad. Leasing prices start as low as $17.99 per month for iPhone, $11.99 for Apple Watch, $24.99 for Mac, and $11.99 for iPad. When customers first enroll in Apple Upgrade, they can further lower their monthly lease payments by trading in their currently owned device through Apple Trade In. Customers can also earn 3 percent Daily Cash back when making their lease payments with Apple Card.

Upgrading Has Never Been Easier

With Apple Upgrade, customers can expect the same seamless and personalized shopping experience online and in stores. Apple and Klarna have created a simple enrollment process that provides customers with detailed information regarding their leasing options before they enroll.

Upon choosing their preferred leasing option, customers can apply within minutes — online or in-store — and receive quick approval from Klarna. All applicants will be subject to a soft credit inquiry that will not impact their credit score. Once approved, they can complete their transaction as usual. In-store customers can enjoy their new device right away, while online customers can choose delivery or in-store pickup. Whether they shop in-store or online, all customers can take advantage of Apple’s Personal Setup service to help get their new product ready to use and ask any questions they might have. They can also join the many free and educational Today at Apple sessions to learn how to get started — or go further — with their devices.
At the end of the lease term, customers can upgrade their device to the latest generation, purchase it with a one-time payment, or simply return it and exit the program. In the Klarna app, they can stay on top of all of their lease information, including their billing schedule and remaining payments. Customers can add an AppleCare subscription to protect their products, making the return of their current device and upgrade to a new one even easier.

With the launch of Apple Upgrade, Apple will no longer offer the iPhone Upgrade Program and iPhone Payments in the United States. When eligible, customers currently enrolled in the iPhone Upgrade Program will have the option of leasing a new device with Apple Upgrade, financing with Apple Card Monthly Installments, purchasing the product outright, or choosing carrier financing.
Explore the Lineup and Upgrade Today

iPhone

iPhone 17e delivers incredible value with faster performance, an advanced camera system, enhanced durability, the magic of MagSafe, and double the starting storage at 256GB. iPhone 17 is packed with features users will enjoy every day, including a bigger and brighter display with ProMotion up to 120Hz, all-day battery life with faster charging, a fantastic 48MP Dual Fusion camera system, and the Center Stage front camera. iPhone Air features a thin and light design that is more durable than any previous model, with pro performance, advanced camera systems on the front and back, and all-day battery life. With a unibody design optimized for performance and powered by A19 Pro, iPhone 17 Pro and iPhone 17 Pro Max are the most powerful Pro models ever made, delivering the best performance, camera systems, and battery life in an iPhone. iPhone leases start at $17.99.

Apple Watch

Apple Watch Series 11 is the ultimate health and fitness companion, featuring the most comprehensive set of health features yet — including groundbreaking hypertension notifications that can alert users to signs of chronic high blood pressure, and sleep score, which helps users understand the quality of their sleep and how to make it more restorative. With up to 24 hours of battery life and a display that’s 2x more scratch-resistant, Apple Watch Series 11 is more convenient than ever to wear throughout the day and night. Apple Watch Ultra 3 is the most advanced Apple Watch — rugged and capable, built for sports and adventure while seamlessly serving as a powerful health companion. It features the largest display ever in an Apple Watch, powered by Apple’s most advanced display technology with LTPO3 and wide-angle OLEDs, along with up to 42 hours of battery life — or up to 72 hours in Low Power Mode. Apple Watch Ultra 3 also features built-in, two-way satellite communications, so users can text emergency services, message friends and family, and share their location even when off the grid. Apple Watch leases start at $11.99.

Mac

Available in 13- and 15-inch models, MacBook Air with M5 delivers incredible performance, up to 18 hours of battery life, and advanced AI capabilities in a thin, light, and durable aluminum design. The M5 family of chips — M5, M5 Pro, and M5 Max — deliver even more performance and capabilities to MacBook Pro, the world’s best pro laptop. All MacBook Pro models deliver game-changing performance and advanced AI capabilities, and include a Liquid Retina XDR display with a nano-texture option, an advanced 12MP Center Stage camera, and up to 24 hours of battery life. Powered by the M4 chip, iMac is the world’s best all-in-one and features a nano-texture display option, a 12MP Center Stage camera, and Thunderbolt 4 connectivity — all in its strikingly thin design. Mac Studio with M4 Max and M3 Ultra is the most powerful Mac ever made, delivering groundbreaking pro and AI performance, plus extensive connectivity with Thunderbolt 5 in its compact and quiet design that can live right on a desk. Mac leases start at $24.99.

iPad

iPad Air features blazing performance, 12GB of unified memory, and fast connectivity, empowering users to be productive and creative wherever they are. With the Ultra Retina XDR display and the power of M5, iPad Pro offers the most advanced iPad experience, packing powerful performance in a stunningly thin and light design. iPad mini delivers the full iPad experience in a device users can hold in the palm of their hand. Accessories such as Magic Keyboard extend the versatility of iPad Air and iPad Pro, while Apple Pencil Pro unlocks even more magical capabilities for illustrating, note-taking, annotating, and more on iPad Air, iPad Pro, and iPad mini. iPad leases start at $11.99.

More info about Apple Upgrade here.
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MacDailyNews Take: Here’s the fine print:

iPhone 16, iPhone 16 Plus, Apple Watch SE, MacBook Neo, Mac mini, iPad (A16), and Studio Display are not available as part of the Apple Upgrade program.

Apple Card is subject to credit approval, available only for qualifying applicants in the United States, and issued by Goldman Sachs Bank USA, Salt Lake City Branch.

Subject to eligibility and credit approval.

Upgrades require entering into a new lease and returning your prior device, and are subject to eligibility and credit approval.

AppleCare delivers exceptional service and support, with flexible options for Apple users. Customers can choose AppleCare+ to cover their new product, or AppleCare One to protect multiple products in one simple plan. Both plans include coverage for accidents like drops and spills, theft and loss protection on eligible products, battery replacement service, and 24/7 support from Apple Experts. For more information, visit apple.com/applecare.

Apple Card Monthly Installments (ACMI) is a 0 percent APR payment option that is only available if users select it at checkout in the U.S. for eligible products purchased at Apple and is subject to credit approval and credit limit. See support.apple.com/en-us/102730 for more information about eligible products. Additional limits and restrictions apply. See the Apple Card Customer Agreement for more information about ACMI.

Apple Watch Series 11 with Ion-X glass has a ceramic coating that provides 2x more scratch resistance than Series 10 with Ion-X glass.

Subject to availability.

This offer is for a consumer lease, not a purchase or loan. Lease provided by Klarna Inc. for 12-, 24-, or 36-month term. 12- and 36-month terms not available for all device models. Your first monthly payment is due approximately 30 days after device is shipped or available for pickup. Lease approval is subject to eligibility and is based on creditworthiness. Monthly payments are based on the selected device and lease term. For example:

For an iPhone 17 Pro 256GB with a purchase price of $1,099 (excluding taxes and any trade-in credit), the typical monthly payment is $31.99 (excluding taxes and any trade-in credit) for a 24-month lease term and $45.99 (excluding taxes and any trade-in credit) for a 12-month lease term.

For an Apple Watch Series 11 (GPS) 42mm with a purchase price of $399 (excluding taxes and any trade-in credit), the typical monthly payment is $11.99 (excluding taxes and any trade-in credit) for a 24-month lease term and $21.99 (excluding taxes and any trade-in credit) for a 12-month lease term.

For an 11-inch iPad Pro 256GB with a purchase price of $1,199 (excluding taxes and any trade-in credit), the typical monthly payment is $24.99 (excluding taxes and any trade-in credit) for a 36-month lease term and $31.99 (excluding taxes and any trade-in credit) for a 24-month lease term.

For a 14-inch MacBook Pro 16GB with a purchase price of $1,999 (excluding taxes and any trade-in credit), the typical monthly payment is $38.99 (excluding taxes and any trade-in credit) for a 36-month lease term and $53.99 (excluding taxes and any trade-in credit) for a 24-month lease term.

No security deposit required. A trade-in device may reduce monthly payments. Advertised monthly payment amount may not include a trade-in device’s estimated value. Upgrades are not guaranteed and are subject to eligibility and approval.

For iPhone only: In order to lease an iPhone, you must select an eligible carrier (AT&T, T-Mobile, or Verizon), but you cannot use a prepaid carrier plan. A leased iPhone is always unlocked, so you can switch carriers at any time, subject to your carrier’s terms.

Terminating the Apple Upgrade lease: Closing your lease and returning your device terminates your lease. You may incur substantial fees if you terminate your lease before the end of your initial lease term. You may have the option to upgrade to a new device by entering into a new lease agreement and returning your prior device. If you upgrade, your new monthly payments may be greater than your prior monthly payments. If you do not upgrade, terminate your lease, or purchase your device by the end of the initial lease term, the lease will convert to a month-to-month lease for up to six months. Your monthly payments may increase during the month-to-month periods. If you take no action at the end of your extension period, you will be charged the purchase fee under your lease. You will not own your device at the end of your lease, unless you pay the purchase fee. Insurance is not included in your lease, and you may incur damage fees if the device is lost, stolen, or not returned in the condition required by the lease.

Apple Upgrade lease eligibility: Leases are only available to U.S. residents (excluding residents of U.S. territories). Leased devices are only available for shipping to U.S. addresses (excluding U.S. territories) or pick up at Apple Retail stores in the U.S. (excluding U.S. territories). To be eligible for a lease, you must be at least 18 years old (or the legal age in your state of residence), have a valid Social Security Number or individual taxpayer identification number (ITIN), have an accepted credit or debit card, have an Apple Account in good standing, have a Klarna Account, and be able to receive security verification codes via text message. Leases are not available on refurbished accessories or online at the following special stores: Apple Employee Purchase Plan; participating corporate Employee Purchase Programs; Apple at Work for small businesses or enterprises; Government, Education, or Veterans and Military Purchase Programs.

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Apple again the World’s Most Valuable Company as shares hit new all-time closing and intraday highs

MacDailyNews — Mon, 27 Jul 2026 20:26:45 +0000

In Nasdaq trading today, shares of Apple Inc. (AAPL) rose $3.89 to $336.91 to hit a new all-time closing high. Apple’s all-time intraday high was also set today at $339.57.

Apple’s 52-week low stands at $201.50.

Today’s trading volume for AAPL shares was 45,246,885 versus Apple’s average trading volume of 55,382,396 shares.

Apple’s PE Ratio currently stands at 40.79.

Apple currently has a market value of $4.948 trillion, making it the world’s most valuable company.

The top five U.S. publicly-traded companies, based on market value:

Apple (AAPL) – $4.948T

NVIDIA (NVDA) – $4.760T

Alphabet (GOOGL) – $3.994T

Microsoft (MSFT) – $2.890T

Amazon (AMZN) – $2.489T

Selected companies’ current market values:

• Taiwan Semi (TSM): $2.070T
• Tesla (TSLA): $1.221T
• SpaceX (SPCX): $1.495T
• Meta Platforms (META): $1.507T
• Walmart (WMT): $889.236B
• Berkshire Hathaway (BRK-A): $1.069T
• Advanced Micro Devices (AMD): $807.066B
• Intel (INTC): $462.383B
• Cisco (CSCO): $451.570B
• Netflix (NFLX): $293.141B
• SoftBank (SFTBF): $181.397B
• IBM (IBM): $203.765B
• Disney (DIS): $167.816B
• Dell (DELL): $275.606B
• Sony (SONY): $130.897B
• Adobe (ADBE): $94.506B
• Spotify (SPOT): $101.724B
• Nokia (NOK): $51.750B
• Hewlett-Packard (HPQ): $24.281B
• SiriusXM (SIRI): $10.031B
• BlackBerry (BB): $5.005B
• Sonos (SONO): $1.866B
• Liquidmetal (LQMT): $0.248B
• RealNetworks (RNWK) was delisted from U.S. exchanges on December 21, 2022 and is no longer publicly traded.

Apple all-time high (AAPL) via NASDAQ here.

MacDailyNews Take: The natural order has been restored, thanks to growing optimism over incoming CEO John Ternus*. Onward and upward, Cupertino soldiers!

*On April 20, when Apple announced Tim Cook would be kicked upstairs to be replaced by product guy John Ternus as CEO, AAPL closed at $273.05 after being range-bound all year. Since that announcement, AAPL has surged as high as today’s $339.57. That ~24% leap in under 90 days highlights just how favorably Apple investors view John Ternus.

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Apple TV unveils trailer for sci-fi thriller ‘Dark Matter’ season two

MacDailyNews — Mon, 27 Jul 2026 19:30:18 +0000

The second season of “Dark Matter” premieres Friday, August 28 on Apple TV.

On Saturday, in San Diego Comic-Con’s Hall H, the stars and creative team behind Apple TV’s critically acclaimed sci-fi thriller “Dark Matter” unveiled the trailer for the upcoming second season. Based on the blockbuster novel by bestselling author Blake Crouch — who also created the series and serves as showrunner — “Dark Matter” stars and is executive produced by Golden Globe nominee Joel Edgerton and Academy Award winner Jennifer Connelly. The 10-episode second season premieres globally on Friday, August 28, 2026 on Apple TV with the first episode, followed by one new episode every Friday through October 30, 2026.

Hailed as one of the best sci-fi novels and celebrating the 10th anniversary of its release this year, “Dark Matter” is a story about the road not taken. In season one, the series followed Jason Dessen (Edgerton), a physicist, professor and family man who — one night while walking home on the streets of Chicago — is abducted into an alternate version of his life. Wonder quickly turns to nightmare when he tries to return to his reality amid the mind-bending landscape of lives he could have lived. Season two picks up with the Dessens as they settle into a quiet life in a world that finally seems safe, until the unimaginable forces them to run once again. As Jason’s obsession with the Box deepens, Daniela’s (Connelly) growing paranoia pushes her to the brink, and their son Charlie (Oakes Fegley) starves for a sense of stability as their family is threatened. Elsewhere, Amanda (Alice Braga) and Ryan (Jimmi Simpson) join forces in a desperate attempt to find their way home. With Blair (Amanda Brugel) determined to stop him, Leighton (Dayo Okeniyi) relentlessly chases his grand vision of creating a perfect world.

In addition to Edgerton and Connelly, the ensemble cast returning for season two includes Braga, Simpson, Okeniyi, Fegley and Brugel.

Alongside the season two premiere, the “Dark Matter” universe expands with the launch of “Dark Matter: The Official Podcast.” Hosted by “Dark Matter” author and showrunner Crouch and executive producer Jacquelyn Ben-Zekry, the podcast takes listeners deeper into the series with a robust roster of cast members, key creatives and industry experts. Together, they explore the show’s biggest moments, the science behind the multiverse, the creative process and how the series expands beyond Crouch’s original novel.

New podcast episodes will be released alongside each episode throughout the season, beginning with a special catch-up episode ahead of the season two premiere that recaps the key moments from season one and invites fans back into the many worlds of “Dark Matter.” Each episode will feature an extensive lineup of cast and creative guests, including Edgerton, Connelly, Braga, Simpson, Brugel, Okeniyi, Margo Martindale, Fegley, Chris Diamantopoulos, Matt Tolmach and some surprise guests, including content creators and authors who are superfans of the show.

“Dark Matter” is produced for Apple TV by Sony Pictures Television. Crouch serves as creator, executive producer, showrunner and writer alongside executive producers Tolmach, Richard Lederer and Ben-Zekry, who co-wrote every episode of season two with Crouch. In addition to starring, Edgerton and Connelly also serve as executive producers.

“Dark Matter: The Official Podcast,” produced by Sony Pictures Television, will be available to watch and listen on Apple Podcasts, the Sony Pictures Television YouTube channel and the Apple TV YouTube channel.

Apple TV offers premium, compelling drama and comedy series, feature films, groundbreaking documentaries, and kids and family entertainment, and is available to watch across all of a user’s favorite screens. After its launch on November 1, 2019, Apple TV became the first all-original streaming service to launch around the world, and has premiered more original hits and received more award recognitions faster than any other streaming service in its debut. To date, Apple Original films, documentaries and series have been honored with 850 wins and 3,800 award nominations and counting including multi-Emmy Award-winning and history-making comedies “The Studio” and “Ted Lasso,” global cultural phenomenon “Severance,” Apple’s most-viewed drama “Pluribus,” Academy Award Best Picture winner “CODA” and Academy Award winner “F1,” the highest-grossing sports feature of all time.
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MacDailyNews Note: Apple TV is available on the Apple TV app in over 100 countries and regions, on over 1 billion screens, including iPhone, iPad, Apple TV 4K, Apple Vision Pro, Mac, popular smart TVs from Samsung, LG, Sony, VIZIO, TCL and others, Roku and Amazon Fire TV devices, Chromecast with Google TV, PlayStation and Xbox gaming consoles, and at tv.apple.com, for $12.99 per month with a seven-day free trial for new subscribers. For a limited time, customers who purchase and activate a new iPhone, iPad, Apple TV 4K or Mac can enjoy three months of Apple TV for free.

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Apple releases macOS Tahoe 26.6

MacDailyNews — Mon, 27 Jul 2026 18:28:42 +0000

macOS Tahoe 26.6

Apple today released macOS Tahoe 26.6, a minor point update to the current macOS operating system that launched in September 2025. The update arrives roughly a month after macOS Tahoe 26.5.2 and follows an extended period of developer and public beta testing.

macOS Tahoe (version 26) is the twenty-second major release of Apple’s desktop operating system and the successor to macOS Sequoia. It introduced a refreshed Liquid Glass design language, enhanced Continuity features (including a Phone app and Live Activities from iPhone), a significantly improved Spotlight search experience, and expanded Apple Intelligence capabilities. Tahoe is also notable as the final major macOS version to support certain Intel-based Macs, including the 2019 16-inch MacBook Pro, 2020 13-inch MacBook Pro (four Thunderbolt 3 ports), 2020 iMac, and 2019 Mac Pro. Its successor, macOS Golden Gate (expected later in 2026), will require Apple silicon.

What’s in the 26.6 Update

According to Apple’s release notes, macOS Tahoe 26.6 primarily delivers security fixes for the Mac. It also optimizes the Spotlight index in preparation for the upcoming macOS 27 release. No major new user-facing features have been highlighted, consistent with the typical focus of mid-cycle point updates on stability, performance, and security as Apple shifts engineering resources toward the next major OS cycle.

Earlier betas in the 26.6 series addressed various resolved issues, including incorrect macOS deprecation notifications for certain apps (related to Intel-only identification when loading system plugins), HealthKit statistics query problems, and visual glitches with HDR screenshots in Messages. A deprecation notice also indicated that Encrypted HFS+ (CoreStorage) will not be supported in macOS 28, recommending a shift to encrypted APFS for external backups.

How to Get the Update

Compatible Mac owners can download and install macOS Tahoe 26.6 through the Software Update section in System Settings (System Settings > General > Software Update). As with any system update, Apple recommends backing up your Mac first — ideally with Time Machine — before proceeding.

The update is available for all Macs that support macOS Tahoe, which generally includes Apple silicon models from 2020 onward plus the specific Intel models noted above. Some features may vary by hardware, region, or language.

MacDailyNews Take: With the 26.x cycle winding down, attention is turning to macOS Golden Gate and the broader 27-series operating systems expected later this year. The Spotlight optimizations in 26.6 appear designed to smooth the transition for users who will upgrade when the next major release arrives.

macOS Tahoe 26.6 is a straightforward, recommended update focused on keeping Macs secure and prepared for what’s next. Users should install it when convenient to benefit from the latest security patches.

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Apple brings AppleCare One to the UK, streamlining coverage

MacDailyNews — Mon, 27 Jul 2026 18:00:57 +0000

Apple brings AppleCare One to the UK, giving customers a new way to cover multiple Apple products with one simple plan.

Apple on Monday announced AppleCare One — a new way for customers to protect multiple Apple devices under one simple plan — is available in the UK. Starting at £16.99 per month, AppleCare One covers up to three products, with the flexibility to add more at any time for £4.99 per month per device.

With AppleCare One, customers receive comprehensive, one-stop service and support from Apple experts across every product in their plan — delivering affordable peace of mind. Beginning August 4th, customers in the UK can sign up for AppleCare One at apple.com or their nearest Apple Store. Those who already have an AppleCare+ plan can also sign up directly on their iPhone, iPad, or Mac.

“At Apple, we’re focused on creating and delivering exceptional experiences,” said Bob Borchers, Apple’s vice president of Worldwide Product Marketing, in a statement. “With AppleCare One, customers in the UK can now enjoy the trusted protection of AppleCare+ in a way that’s simpler and more flexible than ever before — one plan, one price, and the peace of mind that comes with knowing all their eligible products can be covered.”

One Plan, Incredible Value

AppleCare One includes all the benefits of AppleCare+, including fast and unlimited repairs for accidental damage, battery replacement service, and 24/7 priority access to Apple experts. All repairs are performed using genuine Apple parts at Apple Store locations and the vast network of Apple Authorised Service Providers.

Customers can enroll their eligible Apple products in the plan for the same great price, meaning a customer protecting their iPhone, iPad, and Apple Watch together can save up to £11.48 per month compared to maintaining separate AppleCare+ with Theft and Loss plans for each device.

Protect Already-Owned Eligible Devices

AppleCare One gives customers greater flexibility to protect the devices they already have. Eligible products that are up to four years old can be added to a plan, provided they are in good condition, opening up coverage well beyond the current 60-day window to purchase AppleCare+.

Coverage That Evolves with Users

AppleCare One is built to keep pace with customers’ changing needs. When customers upgrade by trading in a covered product and purchasing a new product directly from Apple, the old product is automatically removed from the plan and replaced with the new device — so customers never have to think twice about staying protected. And as a monthly subscription, AppleCare One makes it simple to maintain coverage across as many products as customers want, for as long as they want, with the ability to add or remove devices from their plan at any time.

AppleCare+ Plans Add Theft and Loss Coverage for iPad and Apple Watch

Alongside the launch of AppleCare One, Apple is also bringing AppleCare+ with Theft and Loss to iPad and Apple Watch in the UK. The single-device plan option is now available for iPhone, iPad, and Apple Watch, protecting customers against up to two incidents of theft or loss per year on top of battery replacement service, priority support from Apple experts, and unlimited repairs for accidental damage.
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MacDailyNews Take: Learn more about AppleCare One and sign up by visiting apple.com/uk/applecare.

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Apple Original Films unveils trailer for ‘Matchbox The Movie,’ starring John Cena

MacDailyNews — Mon, 27 Jul 2026 17:00:13 +0000

John Cena stars in “Matchbox The Movie,” premiering October 9 on Apple TV.

This weekend in Hall H at San Diego Comic-Con, Apple Original Films unveiled the trailer for the upcoming action feature “Matchbox The Movie” starring John Cena, premiering globally on Apple TV on Friday, October 9th.

Inspired by the iconic Mattel toys, “Matchbox The Movie” is an action-packed, globe-trotting adventure about a group of friends since childhood who have their lives upended when undercover CIA agent Sean (Cena), their long-absent former leader, returns to their small town and unwittingly gets them embroiled in a frantic international pursuit to save the world.

An Apple Original Film hailing from Skydance Media and Mattel Studios, “Matchbox The Movie” is directed and executive produced by Sam Hargrave and written by David Coggeshall. David Ellison, Dana Goldberg, and Don Granger produce for Skydance, and Robbie Brenner and Ynon Kreiz produce for Mattel Studios. Jules Daly also serves as producer. Patrick Newall and Elizabeth Bassin serve as executive producers.

Apple TV offers premium, compelling drama and comedy series, feature films, groundbreaking documentaries, and kids and family entertainment, and is available to watch across all of a user’s favorite screens. After its launch on November 1, 2019, Apple TV became the first all-original streaming service to launch around the world, and has premiered more original hits and received more award recognitions faster than any other streaming service in its debut. To date, Apple Original films, documentaries and series have been honored with 850 wins and 3,800 award nominations and counting including multi-Emmy Award-winning and history-making comedies “The Studio” and “Ted Lasso,” global cultural phenomenon “Severance,” Apple’s most-viewed drama “Pluribus,” Academy Award Best Picture winner “CODA” and Academy Award winner “F1,” the highest-grossing sports feature of all time.

MacDailyNews Note: Apple TV is available on the Apple TV app in over 100 countries and regions, on over 1 billion screens, including iPhone, iPad, Apple TV 4K, Apple Vision Pro, Mac, popular smart TVs from Samsung, LG, Sony, VIZIO, TCL and others, Roku and Amazon Fire TV devices, Chromecast with Google TV, PlayStation and Xbox gaming consoles, and at tv.apple.com, for $12.99 per month with a seven-day free trial for new subscribers. For a limited time, customers who purchase and activate a new iPhone, iPad, Apple TV 4K or Mac can enjoy three months of Apple TV for free.

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Options prices currently imply an almost 4% move for Apple after July 30 earnings report

MacDailyNews — Mon, 27 Jul 2026 16:00:27 +0000

The U.S. stock market has been stuck in a two-month rut amid rising bond yields and disappointing earnings from Alphabet and Tesla, leaving bulls searching for a catalyst. Apple stands out as the only stock among the ten largest in the S&P 500 trading near an all-time high, CNBC reports.

After months of stagnation, Apple shares have climbed about 20% from their late-June low and recently traded less than two dollars below a fresh record set just over a week earlier. The company is scheduled to report earnings after the closing bell on Thursday.

Options activity reflects traders positioning for continued strength. Big-money participants have been buying in-the-money calls, while speculative interest has focused on a potential move to new highs by Friday, according to trades observed before the market close on Friday and elevated open interest built up over the summer.

Of the roughly $590 million in options premium that changed hands in Apple on Friday, about $442 million was linked to calls, per SpotGamma data. Traders purchased nearly 560,000 calls versus just 332,000 puts, according to ThinkOrSwim figures. Options prices currently imply an almost 4% move for Apple after earnings—an unusually large expected swing compared with the roughly 1% average historical move over the past year, based on Cboe LiveVol data.

“I think the probability is fairly high that Apple could help stabilize the market this week,” Nigam Arora, founder and author of The Arora Report newsletter, told CNBC. “Investors are viewing Apple as a defensive stock because, unlike several of its peers, it isn’t spending hundreds of billions on AI capex.”

The largest single trade Friday involved a new position of $2.6 million in 280-strike calls expiring in mid-August—a bullish, near stock-replacement trade given its high delta.

Among options expiring this Friday, the $320 strike holds the largest open interest, with about 13,000 calls and 5,000 puts outstanding, according to BarChart data. That positioning suggests confidence that last week’s lows will hold even if the reaction to earnings is muted.

By volume on Friday, the most actively traded contract was the 300-strike put (about 7,500 contracts for roughly $374,000 in premium). The second-most popular was the 340-strike call (5,000 contracts totaling about $2.3 million in premium), SpotGamma data show. That call closed at $4.25, meaning buyers would need Apple to rally roughly 3.4% this week to push beyond its all-time high of $335.

MacDailyNews Note: As usual, we’ll have Apple’s earnings results for you as soon as they are released on Thursday, Thursday, July 30th right around 4:30pm EDT / 1:30pm PDT. We’ll follow that with live notes from Apple’s conference call with analysts starting at 5:00pm EDT / 2:00pm PDT.

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Apple TV releases first teaser for cyberpunk series ‘Neuromancer’

MacDailyNews — Mon, 27 Jul 2026 15:00:31 +0000

Callum Turner makes a surprise virtual appearance during Apple TV’s San Diego Comic-Con panel to debut the first teaser for the highly anticipated science fiction series “Neuromancer,” premiering globally on Apple TV on January 22, 2027.

Saturday at Apple TV’s San Diego Comic-Con panel, Callum Turner made a surprise virtual appearance to unveil the first teaser for the highly anticipated new science fiction series “Neuromancer,” based on the award-winning novel of the same name by William Gibson. The 10-episode series stars Turner, Briana Middleton, Mark Strong, Joseph Lee, Peter Sarsgaard, and Clémence Poésy, and premieres globally on Apple TV on Friday, January 22, 2027, with two episodes, followed by one new episode every Friday through March 19, 2027.

“Neuromancer” follows a damaged, top-rung super-hacker named Case (Turner) who is thrust into a web of digital espionage and high-stakes crime with his partner Molly (Middleton), a razor-girl assassin, as they pull off a heist on a corporate dynasty with untold secrets. The ensemble cast also includes Max Irons, Dane DeHaan, Junia Rees, Jordan Kouamé, Emma Laird, Marc Menchaca, André De Shields and Isabella Pappas.

Produced by Paramount Television Studios and Anonymous Content, the series is created for television by Graham Roland and JD Dillard. Roland also serves as showrunner and executive producer alongside Dillard, David Levine, Garrett Kemble and Zack Hayden for Anonymous Content; Aubrey “Drake” Graham, Adel “Future” Nur and Jason Shrier for DreamCrew Entertainment; and Jennifer Haley and William Gibson, who also executive produce. Dillard serves as director of the first three episodes.

The debut novel by Gibson, “Neuromancer” has been praised as one of the first and most respected works in the cyberpunk genre and has received numerous accolades, including the Nebula Award, the Philip K. Dick Award and the Hugo Award. The novel served as the first book in the “Sprawl” trilogy and was followed by “Count Zero” and “Mona Lisa Overdrive.”

Apple TV offers premium, compelling drama and comedy series, feature films, groundbreaking documentaries, and kids and family entertainment, and is available to watch across all of a user’s favorite screens. After its launch on November 1, 2019, Apple TV became the first all-original streaming service to launch around the world, and has premiered more original hits and received more award recognitions faster than any other streaming service in its debut. To date, Apple Original films, documentaries and series have been honored with 850 wins and 3,800 award nominations, including multi-Emmy Award-winning and history-making comedies “The Studio” and “Ted Lasso,” global cultural phenomenon “Severance,” Apple’s most-viewed drama, “Pluribus,” Academy Award Best Picture winner “CODA” and Academy Award winner “F1,” the highest-grossing sports feature of all time.

MacDailyNews Take: “Neuromancer” fans, what do you think?

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Apple preps major Apple Watch refresh, full Mac overhaul, new device leasing program, and Ford Maps partnership

MacDailyNews — Mon, 27 Jul 2026 14:00:19 +0000

Apple Watch Series 11, Apple Watch Ultra 3, and Apple Watch SE 3.

Apple is advancing several key product and service initiatives beyond its smart glasses efforts, according to details shared in Bloomberg News’ Mark Gurman’s Power On newsletter. These include refreshed Apple Watch models heading into late-stage testing, a comprehensive update across its entire Mac lineup to meet AI-driven demand, a new leasing program with Klarna, and a navigation partnership with Ford.

Three New Apple Watch Models in Late-Stage Testing

Apple is currently testing three new Apple Watch models expected this fall: the Series 12 in both Wi-Fi-only and cellular versions (internally codenamed N237 and N238) and the Ultra 4 (N240). No new Apple Watch SE is planned for 2026, following the prior year’s refresh of that model.

These updates will retain the existing design language rather than introducing a visual overhaul. Focus areas include performance improvements via new processors and enhancements to health and fitness tracking capabilities. A more significant redesign of the Apple Watch is in the works but is not expected for another year or two. Work also continues on a blood-sugar monitoring feature, a long-term project originally conceived during the Steve Jobs era, with availability targeted later this decade.

Full Mac Lineup Overhaul for AI Demand

Apple is preparing new versions of every Mac it currently sells, timed across this fall and into next year, to capitalize on demand for powerful machines suited to artificial intelligence workloads.

The initial wave this fall is expected to include a refreshed entry-level 14-inch MacBook Pro powered by the M6 chip and updated iMac models (the first significant desktop refresh in some time). Later in late 2026 or early 2027, higher-end 14-inch and 16-inch MacBook Pro models featuring OLED displays and touchscreen capabilities are planned (using M5 Pro and M5 Max chips in the first generation of the redesigned versions). Updated MacBook Air models (13- and 15-inch), a refreshed MacBook Neo with an A19 Pro chip and increased memory plus potential new colors, plus new Mac mini (M6 and M5 Pro) and Mac Studio (M5 Max and M5 Ultra) configurations are also in development. Timing for some desktop models may depend on memory chip supply availability amid broader industry constraints. Further redesigns and chip updates (including M7 variants) are mapped into 2027 and beyond.

Apple Upgrade Device Leasing Program with Klarna

Apple plans to launch “Apple Upgrade,” a leasing program in partnership with Klarna, on July 28th. It will cover most iPhone, Mac, iPad, and Apple Watch models and represents one of the largest shifts in how the company sells devices.

Lease terms are expected to run 24 months for iPhones and Apple Watches and 36 months for Macs and iPads. Customers can make monthly payments, pay off the device early, upgrade to a newer model before the term ends, keep the device, or return it at the end of the period (with some options potentially involving additional fees). The program requires a soft credit check, will be available online and in U.S. Apple Stores, and will not bundle AppleCare.

A soft credit check (also called a soft inquiry or soft pull) is a review of your credit report that does not affect your credit score. Lenders or companies use it to pre-qualify you, check eligibility, or review an existing account, without the temporary score dip that comes from a hard inquiry (which is used for actual loan/credit applications). Soft checks still appear on your own credit report but are not visible to other lenders.

Certain entry-level models (such as the Apple Watch SE, base iPad, iPhone 16, and MacBook Neo) and business/education purchases are excluded. It is intended to replace or wind down new enrollments in existing iPhone Upgrade and standard financing options, with marketing emphasizing lower monthly payments.

Apple Maps Integration with Ford’s Universal Electric Vehicle Platform

Apple and Ford have announced that Apple Maps will be integrated directly into Ford’s upcoming Universal Electric Vehicle (UEV) Platform, starting in 2027, via Apple’s new MapKit for Automotive SDK. This will deliver native navigation on vehicle displays—including turn-by-turn directions with natural language, real-time traffic and incident information, detailed place cards, intelligent EV routing with battery preconditioning—without requiring a paired iPhone (though CarPlay remains available as an option).

Road-level Maps data will also support Ford’s Latitude AI team in developing enhanced hands-free driving experiences, including next-generation BlueCruise capabilities for a more seamless on-ramp-to-off-ramp experience. The UEV Platform underpins Ford’s planned affordable electric vehicles, beginning with a midsize electric truck targeted around the $30,000 price point.

These developments reflect Apple’s broader hardware refresh cycle and service expansions amid rising component costs and growing demand for AI-capable devices and integrated experiences. As always, details remain subject to change as the company finalizes plans ahead of expected fall announcements.

MacDailyNews Take: These developments reflect Apple’s broader hardware refresh cycle and service expansions amid rising component costs and growing demand for AI-capable devices and integrated experiences. As always, details remain subject to change as the company finalizes plans ahead of expected fall announcements.

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After Meta Ray-Bans ‘Pervert Glasses,’ Apple’s smart glasses must focus on privacy

MacDailyNews — Mon, 27 Jul 2026 13:00:10 +0000

Ray-Ban Meta glasses

Apple’s long-rumored smart glasses face a steep uphill battle that has little to do with hardware specs or AI capabilities. The real obstacle is the privacy stigma attached to the entire category — one largely created by Meta’s Ray-Ban smart glasses, which critics have derisively labeled “pervert glasses.”

According to Bloomberg News’ Mark Gurman in the Power On newsletter, Apple is now targeting a public debut for its first smart glasses at WWDC in June 2027, with a consumer launch expected later that year. Internally codenamed N50, the device had previously been eyed for a late-2026 introduction and early-2027 release. The delay stems in significant part from Apple’s deliberate effort to refine both the product and its privacy messaging.

Meta’s Ray-Ban Meta glasses have sold millions of pairs and demonstrated commercial viability for camera-equipped eyewear that can capture photos and video, play music, handle calls, and leverage AI. But that success has come with heavy baggage. Reports of users discreetly recording people without consent, online hacks that disable or hide the recording indicator light, and investigations revealing that contractors reviewed intimate footage (including bathroom visits and sexual activity) for AI training have fueled public distrust. Protests have occurred, some jurisdictions have restricted the devices, and the “pervert glasses” nickname has stuck in online discourse.

Apple, which has spent more than a decade positioning privacy as a core brand pillar, is acutely aware of the risk. Simply entering the same product category threatens to undermine that carefully cultivated reputation, regardless of how differently the company approaches the technology. Teams in Apple’s Vision hardware group and elsewhere treat privacy as “priority No. 1,” Gurman reports.

The company has explored multiple approaches to cameras. One option under debate would include full camera hardware, but disable photo and video recording entirely, limiting the sensors to feeding visual data into on-device AI for object recognition, navigation, or environmental awareness. Another prototype eliminates cameras altogether while retaining audio features, Siri access, music playback, and calls. The most likely path, however, appears to retain conventional cameras paired with substantially stronger privacy protections than those offered by Meta.

Expected safeguards include heavy reliance on on-device processing, avoidance of facial recognition, rejection of continuous “super-sensing” modes that analyze surroundings without clear indicators, and a firm policy against using customer recordings to train AI models or sending footage to third-party contractors for review. Hardware indicators are also expected to be more prominent and harder to defeat than Meta’s small LED. Price is anticipated in the $200–$500 range, with multiple frame styles, oval-shaped cameras, and no in-lens AR display in the first generation. The glasses would primarily serve as an iPhone companion for hands-free Siri, Visual Intelligence features, and media.

Apple’s strategy is clear: lean hard into privacy differentiation. Whether that will be enough to overcome bystander discomfort remains an open question. Even users who trust Apple more than Meta may still feel uneasy around anyone wearing outward-facing cameras. Success will depend not only on technical features but on convincing the public that these glasses respect the privacy of everyone in view—not just the wearer.

MacDailyNews Take: Disabling photo and video recording entirely would be a deal-breaker. No sale.

However, if Apple gets this right, privacy could become the product’s strongest selling point. If not, the company may discover that even its brand equity cannot fully erase the cultural resistance Meta’s glasses helped create. The delayed timeline gives Apple time to get the balance right before the world puts its smart glasses to the ultimate test.

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Apple stock surges over 3% on analyst upgrades, China AI approval, and pre-earnings optimism

MacDailyNews — Fri, 24 Jul 2026 21:30:25 +0000

Apple shares surged roughly 3.53% on Friday, closing at $333.02 after closing the prior day at $321.66. This moved the stock closer to recent record highs and pushed its market cap at $4.891 trillion.

Main drivers

Several factors appear to have fueled the move amid a mixed-to-weaker broader market (with pressure on some chip and other tech stocks):

• Analyst support and price target increases: Multiple firms issued positive notes. Robert W. Baird raised its target to $330 from $310 (Outperform). Morgan Stanley lifted its target to $364 from $360 (Overweight), citing expectations that fiscal Q3 results (due July 30) could modestly beat consensus. HSBC upgraded to Buy with a $366 target. These reinforced confidence in Apple’s fundamentals ahead of earnings.

• Apple Intelligence progress in China: Reports of successful regulatory registration/approval for Apple’s generative AI features in China (partnering with local firms such as Alibaba’s Tongyi Qianwen as a core model and Baidu secondarily) boosted sentiment. China remains a key market, and clearer access for on-device AI features is viewed as a meaningful long-term positive for services and hardware demand.

• AI strategy and pre-earnings optimism: Investors continue to favor Apple’s relatively capital-efficient, on-device AI approach (lower data-center spending than many peers). This has helped the stock outperform in recent weeks even as other big tech names face higher capex scrutiny. Anticipation of the July 30 earnings report (consensus roughly around $1.88–$1.89 EPS and ~$109 billion revenue, with solid year-over-year growth expected) added to the buying interest.

Recent product-cycle optimism (including the broader Mac refresh pipeline reported earlier in the week) and Apple’s overall ecosystem strength have provided a supportive backdrop, but today’s jump was more directly tied to the analyst actions, China AI milestone, and earnings positioning.

MacDailyNews Take: Stock moves can reverse quickly, and no single factor is ever the sole cause. Apple has not issued company-specific news today that appears to be the primary catalyst. Earnings on July 30th, whcih we will, as usual cover with live notes, will be Apple’s next major test.

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Apple preps next-gen MacBook Neo with A19 Pro chip, more memory, and new colors amid broader Mac overhaul

MacDailyNews — Fri, 24 Jul 2026 21:00:52 +0000

Apple’s MacBook Neo in Citrus

Apple is developing an updated MacBook Neo featuring more memory, an upgraded A19 Pro chip, and additional color options as part of a wide-ranging refresh of its entire Mac lineup, according to a Bloomberg News report by Mark Gurman.

The original MacBook Neo, Apple’s budget-friendly entry-level laptop launched in March 2026, quickly became a huge hit. It debuted at $599 (as low as $499 with education pricing) before rising to a $699 starting price amid industry-wide memory cost pressures. Powered by the A18 Pro chip (the first Mac to use an A-series processor typically found in iPhones and iPads), it offered 8GB of unified memory, a 13-inch Liquid Retina display, and vibrant finishes including Silver, Blush, Citrus, and Indigo. Strong demand led to initial sell-outs, and it has been praised for bringing accessible Mac performance and Apple Intelligence features to a lower price point.

The next-generation Neo will address some of the original’s constraints by increasing unified memory — reports indicate a jump to 12GB — and switching to the A19 Pro chip (already used in recent iPhone models). Extra color options will expand on the fun, marketing-friendly palette that helped the first Neo stand out. These upgrades could help offset the recent price increase by delivering better performance and longevity, particularly for AI-related tasks.

This Neo update forms part of a much larger Mac pipeline. Gurman’s reporting indicates Apple plans new versions of nearly every Mac it sells over the next couple of years, driven by surging demand for AI-capable machines. Key elements include:

• An entry-level 14-inch MacBook Pro with the new M6 chip expected this fall (2026).

• Long-awaited iMac refreshes also targeted for fall 2026.

• High-end 14- and 16-inch MacBook Pros featuring OLED displays and touchscreens, powered by M5 Pro and Max chips, eyed for late 2026 or early 2027.

• A MacBook Air refresh that could include its first major redesign in over four years.

• Updated Mac mini models testing M5 Pro and M6 chips, plus Mac Studio variants with M5 Max and Ultra (or later M7 chips), though memory supply constraints tied to the broader AI boom may affect timing.

Industry observers note that ongoing global memory shortages exacerbated by AI server demand have already driven price increases across Apple’s lineup and could influence both availability and pricing of the new models. Apple has also been exploring ways to sustain sales momentum, including a new leasing program.
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MacDailyNews Take: The MacBook Neo’s success showed Apple’s willingness to expand downward in the laptop market while defending premium margins higher up. An improved Neo with more memory and a newer chip would further strengthen that position, especially if it retains a competitive price relative to crappy Windows alternatives. Exact release timing for the updated Neo remains unspecified in the reports, but it fits into Apple’s broader push to modernize the Mac range for an AI-driven era.

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Apple’s foldable iPhone to grab 25% of foldable smartphone sales this year – Counterpoint Research

MacDailyNews — Fri, 24 Jul 2026 19:30:11 +0000

3D render claiming to depict Apple’s first foldable iPhone (image: Jon Prosser)

Apple is poised to make one of the most impressive debuts in recent smartphone history. According to Counterpoint Research’s latest forecast, the company’s first foldable iPhone is expected to capture a remarkable 25% share of global foldable smartphone shipments in 2026 — its very first year (really, quarter) in the category — while helping propel the overall market to robust 21% year-over-year growth.

This is no ordinary product launch. In a segment long dominated by a handful of Android players, Apple is projected to debut in a clear second place, ahead of Huawei (24%) and closing the gap dramatically on market leader Samsung, whose share is forecast to decline from 40% in 2025 to 32%. Motorola and HONOR are expected to see further erosion of their positions, underscoring how Apple’s entry is poised to reshape the competitive landscape overnight.

Global Foldable Smartphone Shipment Share by OEM, 2025 vs 2026F

Source: Counterpoint Foldable Smartphone Market Forecast

What makes this projection especially powerful is the nature of the demand Apple is expected to unlock. Counterpoint notes that Apple’s arrival will intensify competition specifically in the premium book-type foldable segment—the form factor that prioritizes productivity, multitasking, and expansive screen real estate over pure novelty. As AI features evolve beyond simple chat into everyday workflows such as document summarization, content editing, schedule management, and seamless cross-app information movement, a wider, more flexible canvas becomes essential. Apple’s anticipated design approach aligns perfectly with this shift, positioning the foldable iPhone as a natural extension of the company’s longstanding focus on refined user experience, seamless ecosystem integration, and premium craftsmanship.

Samsung is set to retain the overall lead for now, but the narrowing of its advantage to just seven percentage points over Apple highlights the disruptive force of Cupertino’s entry. Other brands that once held meaningful shares are projected to lose ground, illustrating how a single, highly anticipated Apple product can redefine market dynamics and accelerate category maturation.

The 21% growth forecast for the global foldable market in 2026 is itself a vote of confidence in the category’s future, and Counterpoint explicitly ties much of that expansion to Apple’s influence. By bringing its massive, loyal customer base, rigorous attention to durability and software optimization, and unmatched brand prestige into the foldable arena, Apple is expected to expand the total addressable market rather than merely redistribute existing demand. Premium book-style devices stand to benefit most, moving foldables further from experimental gadgets toward mainstream productivity tools.

For years, observers have waited for Apple’s carefully timed move into foldables. The Counterpoint numbers suggest that timing was deliberate and strategic. Rather than rushing to market, Apple appears positioned to enter with a product that not only claims a quarter of all foldable shipments in its first quarter, but also elevates the entire segment—raising expectations for design excellence, software polish, and real-world utility.

In short, 2026 is shaping up as the year the foldable smartphone market comes of age, and Apple is set to be one of its primary architects. Capturing 25% share on debut is more than a strong start; it is a clear signal that when Apple decides a category is ready, the industry—and consumers — take notice.
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MacDailyNews Take: And, in 2027, if they don’t actually exceed Counterpoint’s projection and claim the crown straight off in Q226, after a mere three months on the market, Apple’s iPhone will be No.1 in foldable smartphones. Apple’s well-heeled customer base guarantees it.

As with fingerprint and facial recognition, when Apple debuts a foldable iPhone, then foldable smartphones will have been done right. – MacDailyNews, January 17, 2019

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$250 million Siri delay settlement approved: Apple to pay select iPhone buyers

MacDailyNews — Fri, 24 Jul 2026 17:26:51 +0000

Still from an iPhone 16 ad touting Apple Intelligence Siri features

A U.S. judge has given preliminary approval to Apple’s $250 million settlement of a class action lawsuit over the delayed launch of advanced, personalized Siri features that the company had heavily advertised. Eligible U.S. owners of the iPhone 15 Pro, 15 Pro Max, and all iPhone 16 models purchased between June 10, 2024 and March 29, 2025 may eventually receive $25–$95 per device, though a claims website is not yet live and no action is needed right now.

Joe Rossignol for MacRumors:
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In June 2024, Apple previewed new Siri capabilities powered by Apple Intelligence, including understanding of a user’s personal context, on-screen awareness, and deeper per-app controls. For example, Apple showed an iPhone user asking Siri about their mother’s flight and lunch reservation plans based on info from the Mail and Messages apps.

Apple advertised those Siri features in product presentations, on its website, in a TV commercial starring actor Bella Ramsey, and elsewhere.

In March 2025, Apple delayed the launch of the personalized version of Siri, leading to the company being hit with a class action lawsuit alleging false advertising…

It is unlikely that individuals who submit a claim will still need to have physical possession of an eligible iPhone model. However, there is a possibility that proof of purchase or other information will be required, such as the device’s serial number. Exact requirements will be outlined on the settlement website, which is still not live.

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MacDailyNews Note: To be eligible to submit a claim, you must reside in the U.S. and have purchased any iPhone 15 Pro or any iPhone 16 model between June 10, 2024 and March 29, 2025.

MacDailyNews Take: Apple got off easy. It ended up being effective advertising, albeit false. $250 million is just part of the marketing budget and, to Apple, it’s pocket change.

As usual, we called it correctly very early on:

When you're caught flat-footed like Tim Cook's Apple, you pop into scramble mode to try to catch up. Early on, you hit it with a big marketing flourish (WWDC24) in order to buy some more time. Then you dribble out features as they get finished & actually exist. Classic vaporware. https://t.co/I1J4y3aDNy pic.twitter.com/fLKvxGj4G3

— MacDailyNews (@MacDailyNews) July 31, 2024

The Apple Intelligence vaporware [is] false advertising, fraud, and lies. Those will be the basis for class action lawsuits from iPhone, iPad, and Mac customers soon enough. And Apple will deserve them all. – MacDailyNews, March 14, 2025

See also: Apple pulls iPhone 16 ad touting nonexistent Apple Intelligence-powered Siri features – March 10, 2025

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Apple leans on component suppliers to keep down prices of next-gen iPhones

MacDailyNews — Fri, 24 Jul 2026 16:00:03 +0000

Apple is pressing its OLED panel suppliers for a substantial price reduction on displays destined for the upcoming iPhone 18 Pro Max, as soaring memory chip costs force the company to seek savings elsewhere in its bill of materials.

According to a report from Korean outlet The Elec, Apple has proposed paying around $70 per OLED panel for the iPhone 18 Pro Max. Industry estimates indicate the final supply price from Samsung Display and LG Display could settle even lower — at approximately $66.50. That represents a roughly 20% drop compared with the panels used in the iPhone 17 Pro Max.

While Apple has historically negotiated lower OLED prices with each successive iPhone generation, this year’s cut is unusually steep. The reduction comes despite increased manufacturing complexity: the iPhone 18 series is expected to incorporate Samsung Display’s latest M16 OLED material set, which improves luminous efficiency, lifespan, and color performance. Panel makers must refine processes and stabilize yields for the new materials, raising production difficulty even as prices fall.

The aggressive push for lower display costs is driven by “chipflation”—sharp increases in memory semiconductor prices. Smartphone makers across the industry are attempting to offset higher memory expenses by cutting procurement costs for other components, including displays and camera modules.

Samsung Display President Lee Cheong recently highlighted the pressure, stating at K-Display 2026 that “this year is extremely difficult because of chipflation” and that “very strong pressure is coming in to lower component and display prices.” LG Display’s president noted the company is feeling the effects but described them as manageable through ongoing cost innovation.

Market research firm UBI Research projects Samsung Display will supply 46 million OLED panels for Apple’s bar-type iPhone 18 lineup this year (2 million for the standard model, 18 million for the Pro, and 26 million for the Pro Max). LG Display is expected to provide about 41 million panels (roughly 1 million for the standard model, 19 million for the Pro, and 21 million for the Pro Max).

Apple is anticipated to launch the iPhone 18 Pro and Pro Max in September 2026 alongside its first foldable iPhone, with the standard iPhone 18 and iPhone 18e following in spring 2027. Analysts have suggested the Pro models could see starting prices of $1,299 and $1,399 respectively — up $200 from their predecessors — largely due to elevated memory and storage costs.Whether the OLED savings will help limit further price increases for consumers remains to be seen, but the negotiations underscore the intense cost pressures currently facing the smartphone supply chain.
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MacDailyNews Take: In the high-stakes world of smartphone component supply, the message from Cupertino is clear and uncompromising: If you want to keep Apple’s gargantuan business, you will help them preserve their margins.

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How Apple TV became an awards magnet

MacDailyNews — Fri, 24 Jul 2026 15:00:01 +0000

Apple TV

Apple TV has come a long way since its uneven 2019 launch, transforming into a prestige powerhouse with 89 Emmy nominations this year — trailing only HBO Max and Netflix. From early misfires to critical darlings like “Widow’s Bay,” “Pluribus,” “Shrinking,” “Slow Horses,” and “Margo’s Got Money Troubles,” the streamer has refined its approach by betting on bold, idiosyncratic storytelling.

Rebecca Ford for Vanity Fair:
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When it debuted, Apple TV (which back then had a plus sign at the end of its name) trotted out a ton of stars who would be featured in its new shows and films, like Jennifer Aniston, Jason Momoa, and Oprah Winfrey. But many of the shows, other than The Morning Show, fell flat with audiences. Over the years, the streamer has instead been focusing on working with creatives who have boundary-pushing concepts, like Ben Stiller’s Severance or Seth Rogen’s The Studio. The shows may seem like bigger gambles on paper, but when they work, they earn acclaim.

“These are all shows that are incredibly idiosyncratic and have a really, really strong vision,” says Vanity Fair special correspondent Joy Press. “They have actors that we recognize, but they’re not the biggest stars in the universe. But they have a very strong voice behind them.”

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MacDailyNews Take: Listen below to hear about how Apple TV has pulled off this feat — and what challenges may still lie ahead for Cupertino’s oft-lauded streaming service.

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Digital driver’s licenses and IDs in Apple Wallet may soon arrive in Utah

MacDailyNews — Fri, 24 Jul 2026 14:00:11 +0000

In U.S. states such as California, driver’s licenses and state IDs can be added to Apple Wallet, enabling residents to seamlessly and securely add and present their IDs using iPhone or Apple Watch.

Utah residents may soon be able to store their driver’s licenses and IDs in Apple Wallet on iPhone and Apple Watch. MacRumors has uncovered references to a Utah ID in Apple’s backend systems, indicating the company is actively working on support. While the state already offers a mobile driver’s license through a standalone app, that solution currently lacks Apple Wallet integration.

Juli Clover for MacRumors:
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Utah’s mobile driver’s license FAQ page still says that it is still in the initial planning process of adding Utah IDs to Apple Wallet, but it may not be up to date.

The site also says that when Apple Wallet integration launches, iPhone users who already use the mobile app for their Utah ID will be able to download it to Apple Wallet.

Apple announced plans to add Utah driver’s licenses and IDs to the Apple Wallet app way back in 2021, but no integration has materialized. Utah was one of the first states Apple mentioned when rolling out the feature.

Other states planning to add support for driver’s licenses in Apple Wallet include Connecticut, Kentucky, Mississippi, Oklahoma, and Virginia.

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MacDailyNews Note: Multiple states and Puerto Rico have already implemented support for users to store their driver’s licenses and IDs in Apple Wallet on iPhone and Apple Watch, including:

Arkansas*
Arizona
California
Colorado
Georgia
Hawaii
Illinois
Iowa
Maryland
Montana
New Mexico
North Dakota
Ohio
West Virginia

*some users in specific jurisdictions in Arkansas may still see staggered access depending on whether their state agency has finalized all local database integrations.

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Intel’s AI chip boom sparks rally; Apple deal rumors add extra buzz

MacDailyNews — Fri, 24 Jul 2026 13:00:30 +0000

Intel forecast stronger-than-expected third-quarter revenue and profit on Thursday, fueled by surging demand for its data-center CPUs amid the agentic AI boom. Shares jumped more than 5% after hours as the company also raised its 2026 capital-spending plans, while lingering hopes of a high-profile manufacturing partnership with Apple continue to intrigue investors.

Reuters:
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Intel expects third-quarter revenue between $15.8 billion and $16.8 billion, compared with analysts’ average estimate of $15.1 billion, according to data compiled by LSEG. Adjusted profit is expected to be 38 cents per share, compared with analyst estimates of 27 cents.

On a conference call with analysts, [CEO Lip-Bu] Tan said second-quarter developments prompted Intel to become “fully committed” to high-volume production of chips made with its forthcoming 14A manufacturing technology in 2028. Last year, Intel had warned it might be forced to abandon 14A if it could not find a major customer, which would have effectively put the U.S. out of the race to make the world’s fastest chips.

“I’m pleased to see the increasing momentum on customer engagements for Intel 14A, and I’m increasingly confident that the 14A will be a highly competitive process,” Tan said.

For the second quarter ended June 27, Intel said sales rose 25.4% to $16.13 billion and adjusted profit was 42 cents per share, compared with estimates of $14.42 billion and 21 cents per share. Adjusted gross margin came in at 41.8%, versus estimates of 38.8%…

Intel’s foundry business had $5.77 billion in second-quarter sales, compared with analyst estimates of $5.55 billion.

The unit secured Elon Musk’s Tesla as a customer for its next-generation 14A process for ⁠the “Terafab” AI chip project. Expectations of another high-profile win rose in April after President Donald Trump announced that Apple AAPL.O had agreed to make processors with Intel. Neither company has confirmed the deal.

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MacDailyNews Take: Reported possibilities for Intel’s 14A node in regard to Apple Silicon (based on preliminary agreements and analyst/rumor commentary, none of which have been officially confirmed by Apple or Intel) include:

• Future iPhone A-series SoCs (e.g., successors around the A21/A22 generation) on 14A, potentially entering production toward the end of 2028.

• Certain M-series chips for Macs and iPads, though some reports lean toward earlier nodes like 18A-P for nearer-term Mac chips (around 2027) and 14A for later or higher-end parts.

The 14A node’s density and efficiency gains would suit Apple’s priorities: packing more transistors for stronger CPU/GPU/Neural Engine performance while keeping power consumption low enough for battery-powered devices. Mobile SoCs (especially iPhone chips) are often mentioned among analysts as a strong fit for new advanced nodes because of their volume and efficiency focus.

Important caveats: No official confirmation exists of which specific Apple Silicon products (if any) would use 14A, the exact mix of chips, or volume. Production is still years out, dependent on Intel successfully ramping the process and meeting Apple’s stringent yield, quality, and capacity requirements. Diversifying away from TSMC is the main strategic motive for Apple reigniting business with Intel.

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