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.
Company Size
10,001+
Company Stage
IPO
Headquarters
Cupertino, California
Founded
1976
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Health Insurance
Dental Insurance
401(k) Retirement Plan
401(k) Company Match
Tuition Reimbursement
Performance Bonus
Relocation Assistance
Employee Stock Purchase Plan
Tim Cook concluded his tenure as Apple CEO with a fiscal third-quarter earnings call showing quarterly revenue of $109.4 billion, surpassing the company's entire fiscal 2011 revenue of $108.2 billion. During Cook's 15 years as CEO, Apple's stock returned 2,720%, including dividends. New CEO John Ternus takes over a company heavily reliant on iPhone sales, which now represent half of total revenue at $54.3 billion. The services business, comprising 28% of sales, grew 12% year over year. Ternus reportedly plans to streamline operations and accelerate product releases throughout the year rather than at special events. Apple recently launched the iPhone Duo, a foldable phone priced at $2,000. However, recent product launches, including the VisionPro and a cancelled self-driving car project, have struggled to gain traction. Apple trades at a price-to-earnings ratio of 38, above its 10-year median of 27.
Apple's App Store revenue grew 5% year-over-year in September, a marked improvement from August's flat growth, according to UBS analyst David Vogt. However, he cautions against drawing broader conclusions from a single month's performance. For the full quarter, App Store revenue increased only 2%, marking the second consecutive quarter of low-single-digit growth. Vogt attributes September's improvement partly to easier year-over-year comparisons. October presents a tougher test, with comparisons about 180 basis points more challenging. It will also be the first full month reflecting App Store changes in the EU, which accounts for just over 10% of trailing twelve-month revenue. Apple currently trades at 37.69 times forward earnings, a 28% premium to its five-year average P/E of 29.54 times. Vogt, who maintains a Neutral rating and $296 price target, suggests this valuation leaves limited room for weaker growth. Hedge fund interest remained stable, with 169 funds holding positions at the end of Q2.
Apple has acqui-hired Huxe, an AI startup founded by former Google NotebookLM developers, according to the EU's Digital Markets Act transparency database. The deal, disclosed in June, grants Apple the right to hire certain Huxe employees and receive a non-exclusive licence to the company's intellectual property. Huxe was founded in December 2024 by Raiza Martin, Jason Spielman, and Stephen Hughes, who previously worked on NotebookLM. The startup created a personalised AI audio app that generated daily briefings from emails and calendars, and podcast-style conversations. Huxe raised $4.6 million in September 2025 before shutting down in May 2026. This marks Apple's fourth AI-related deal disclosed this year.
Western Digital forecasts fiscal Q1 2027 revenue of $4.1 billion, up from $3.75 billion in the previous quarter. The company's revenue grew 36% over the past twelve months, outpacing Apple's 14.2%. Western Digital reported its average price per terabyte rose by a high-teens percentage year-over-year in fiscal Q4 2026, whilst costs per terabyte fell around 8%. By contrast, Apple warned of rising memory costs during its fiscal Q3 2026 call. Western Digital maintains a 36% operating margin compared to Apple's 33%, and carries less debt relative to market value. However, cloud customers account for 89% of Western Digital's revenue, whilst Apple benefits from diversified income streams including iPhone and services. Western Digital shares returned 224% over twelve months, significantly exceeding Apple's 32%.
Apple has appointed Steve Smith as its new mergers and acquisitions chief, according to people familiar with the matter. The move comes as part of management changes under new chief executive officer John Ternus. Adrian Perica, who previously held the M&A role, is being transferred to the company's services business. The leadership reshuffle represents the latest organisational shift at Apple following Ternus's appointment as CEO. The changes signal Apple's continued evolution of its executive structure as it navigates strategic priorities across its hardware, software, and services divisions.