STOCK · AAPL · Nasdaq

Apple Inc.

Apple Inc. trades under the ticker symbol AAPL on the Nasdaq. This page brings together its live stock price, an interactive price chart, and key fundamentals like market capitalization, 52-week range, dividend yield, and the next earnings date, with plain-English context to help you understand what the numbers mean.

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Executive summary

About Apple Inc.

Apple sits at the center of one of the most valuable consumer technology ecosystems ever built. The iPhone still generates over half of total revenue, but the real story is services: the App Store, iCloud, Apple Music, and Apple Pay together exceed $90 billion annually with gross margins above 70%.

The company's competitive strength comes from ecosystem lock-in. Once users are deep in Apple hardware, software, and subscriptions, switching costs are genuinely high. That stickiness translates into pricing power that most hardware companies can only dream about.

Apple has returned hundreds of billions to shareholders through buybacks over the past decade. The dividend is modest but has grown steadily. Berkshire Hathaway has held Apple since 2016 and, even after trimming the stake in 2024, it remains one of Berkshire's largest public holdings.

How does Apple Inc. make money?

Source: Apple SEC filings (10-K) and investor relations · Last reviewed June 2026

Investment case

Apple sits at the center of one of the most valuable consumer technology ecosystems ever built, and the way to understand it is to see how its two halves work together. The iPhone is still the largest single product line and the gateway that pulls customers into everything else, while Services, the higher-margin bundle of the App Store, iCloud, subscriptions, payments, and search licensing, has become the steadier and faster-growing profit engine that rides on a huge and still-expanding base of active devices. That mix matters because it lets profit keep climbing even in years when the number of phones sold barely moves, and Apple reinforces it by returning large amounts of cash through buybacks and a small but steadily rising dividend. The long term question that frames the stock is whether Apple can keep its ecosystem sticky and grow Services while defending it against regulators, a pressured China market, and a perception that it has been slow on artificial intelligence.

Educational analysis from public filings. This is not a recommendation to buy or sell any security.

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Why investors follow this company

Competitive advantages

What could go wrong

What to watch

Valuation in context

Sources: Apple 10-K (SEC EDGAR), Apple Investor Relations · Last reviewed June 2026

Concepts behind this investment case

Market Cap, Dividend Yield, Valuation

How management uses cash

Historically, the company has used a mix of reinvestment, buybacks, and dividends.

Reinvestment

On average, capital spending used about 13% of operating cash flow across 10 fiscal years (FY2016-FY2025) - a small share of the cash the business generated went back into it, leaving most available for other uses.

Buybacks

Reported share repurchases in 10 of the 10 fiscal years shown, totaling about $713.2B (FY2016-FY2025).

Dividends

Paid a per-share dividend in each of the 10 fiscal years shown (FY2016-FY2025). The annual per-share dividend did not decline year over year within FY2018-FY2025 (comparable per-share basis), rising in 7 straight year-over-year changes into FY2025. In FY2025, dividends paid totaled about $15.4B.

Debt direction

The total debt balance rose over the window: about $78.9B in FY2016 vs about $90.7B in FY2025. This describes the balance's direction, not repayments.

Cash position

As of FY2025, held about $35.9B in cash and equivalents vs about $90.7B of total debt - more total debt than cash at that date.

Derived from annual figures this company reported to the SEC (EDGAR XBRL company facts). Descriptive history only: not a forecast, not a rating, not investment advice.

Frequently asked questions

What is the investment case for Apple?

Apple sits at the center of one of the most valuable consumer technology ecosystems ever built, and the way to understand it is to see how its two halves work together. The iPhone is still the largest single product line and the gateway that pulls customers into everything else, while Services, the higher-margin bundle of the App Store, iCloud, subscriptions, payments, and search licensing, has become the steadier and faster-growing profit engine that rides on a huge and still-expanding base of active devices.

Does Apple have an economic moat?

Once a household is deep in Apple hardware, software, and subscriptions, moving to a rival means giving up photos, messages, purchases, and the way devices work together, so switching costs are genuinely high.

What is the bull case for Apple?

Services has kept setting new highs and remains Apple's most profitable line, so as it grows the overall mix shifts toward higher-margin recurring revenue.

What is the bear case for Apple?

A large part of revenue still comes from the iPhone, so a prolonged stall in upgrades would weigh on the whole business.

What are the key risks for Apple?

Roughly 20% of revenue comes from China, a market facing geopolitical tension and growing domestic competition from Huawei and others. Manufacturing concentration in China creates supply chain risk, and diversification to India and Vietnam is still in early stages.

How should investors think about Apple's valuation?

Apple blends a hardware business with a faster-growing, higher-margin Services arm and very large capital returns, so a single earnings multiple can hide how those pieces fit together and why the market often pays a premium for the stock. Weigh it using the segment revenue, margin, and cash-flow figures in the company's own filings rather than any outside estimate.

What should investors watch with Apple?

Whether Services keeps growing at a healthy pace and the active installed base keeps expanding, because that combination is what turns a slower hardware cycle into continued profit growth and is the clearest read on the ecosystem's health.

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Educational content only. Market data is delayed and is not financial advice. Always do your own research and consult a licensed professional before investing.