Apple designs and sells consumer electronics, from iPhone smartphones and Mac computers to tablets and wearable devices. Its operating systems manage apps and built-in functions for communication and work, while iCloud stores files and synchronizes data across devices. Customers buy additional digital services through subscriptions such as Apple Music and Apple TV, and developers distribute software through the App Store. Apple earns money from hardware sales, subscriptions and digital transactions, selling directly to customers and through retailers and mobile carriers around the world. It was founded in 1976 and has its headquarters in Cupertino, California.
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Company Size
10,001+
Company Stage
IPO
Headquarters
Cupertino, California
Founded
1976
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$10.8B
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Jim Cramer's "own it, don't trade it" advice on Apple resurfaced on October 16, the day preorders for its $1,999 iPhone Duo, its first foldable phone, sold out in minutes. The CNBC host has repeated the line for years and says only Apple and Nvidia earn that label. Apple closed at $343.46 that day, near its 52-week high of $348.15. Fiscal third-quarter revenue rose 16% to $109.4 billion, and iPhone sales rose 22% to $54.3 billion. Holding also cuts taxes. On a $10,000 profit in the 24% bracket, selling within a year leaves about $7,600 after federal tax; holding past a year leaves about $8,500. Apple reports earnings on November 2.
KeyBanc Capital Markets has downgraded Cirrus Logic to "Sector Weight" from "Overweight," warning that Apple may cut iPhone output in 2027. Apple, which accounts for about 90% of the chipmaker's revenue, is reportedly asking suppliers to scale back component production as higher memory costs cool demand. Analyst John Vinh said Apple's cuts to TSMC wafer starts, equal to 15 million to 20 million iPhones, point to weaker volumes. He sees limited growth for Cirrus over the next six to 12 months, and delays in its PC expansion add to the risk. Cirrus shares hit a 52-week low of $105.10 on October 15, down 40% from their May peak of $180.42. The company has a market value of about $5.4 billion and reports quarterly results on November 4.
Apple's first foldable phone, the iPhone Duo, is drawing record preorder demand. The earliest delivery date for a 512GB Night Sky model is January 25, more than three months away. The phone reaches stores this Friday. Morgan Stanley said the global 14-week average preorder lead time is the longest of any iPhone it has tracked in 10 years. The analysts said this reflects both strong demand and limited supply. Melius Research estimates Apple could sell at least 15 million Duo units in fiscal 2027 at $2,000 to $3,200 each, generating about $40 billion in revenue. It kept its buy rating and $370 price target. Apple shares trade near $342, up nearly 26% this year. The company reports quarterly earnings on November 2.
Apple has acquired Samplab, a Zurich-based startup that builds AI audio editing tools, according to AppleInsider. Under the deal listing, Apple will take some of Samplab's assets and offer jobs to some of its staff. Samplab was founded in 2020 by Manuel Fritsche and Gian-Marco Hutter. It is small, with reportedly no more than 10 employees, and LinkedIn suggests only the two founders may remain. Its software could change any note in a recording, identify and edit chords, and separate tracks in fine detail. Apple added AI track separation to Logic Pro in 2024, splitting songs into vocals, guitar, drums, and other parts. Samplab's technology may be built into Logic Pro to refine that feature and allow editing of single notes within chords.
Apple store employees have warned that the new iPhone Duo will likely be out of stock for walk-in buyers on launch day, October 23, MacRumors reported. Staff have been told to discourage customers without preorders from visiting. Apple's first foldable phone starts at $1,999 and passes $3,000 for the 2TB model. Some delivery estimates run to December 5, and a mock order on Apple's site showed a January 25 date. Apple told CNBC preorder demand was "nothing short of extraordinary." Nikkei Asia reported that production slowed in September to "a few hundred a day," due mainly to Apple's strict quality control standards. Carrier partners such as T-Mobile hold their own inventory, and may offer earlier delivery.
Find jobs on Simplify and start your career today
Industries
Company Size
10,001+
Company Stage
IPO
Headquarters
Cupertino, California
Founded
1976
Find jobs on Simplify and start your career today