AAPL Revenue Hits Record High Amid Mixed Guidance

Apple's (AAPL) June quarter revenue reached a record $109.42 billion, marking a 16% year-over-year increase. This strong top-line growth has traders taking note.

The company guided Q4 2026 revenue to be up 9-11% year-over-year, which is slightly below the consensus estimate. Management cited several factors that contributed to this guidance, including foreign exchange swings, supply constraints for advanced chips, and increased demand for AI-driven memory.

KeyBanc analysts downgraded AAPL to Underweight with a $250 price target, citing concerns over slowing iPhone growth, higher component/memory costs, carrier subsidy risks, supply limits, and currency headwinds. This move represents a 19% downside from the current price.