AAPL Traders Face Fork in the Road as iPhone Ultra Hype Collides with Ternus Transition
Apple's (AAPL) tokenized stock is trading at $311.96, and despite a strong fundamental picture, momentum is flatlining.
The company posted revenue of $109.42 billion in fiscal Q3 2026, up 16.4% year-over-year, beating EPS estimates by $0.13 with a print of $2.02.
However, the CEO transition from Tim Cook to John Ternus on September 1 is creating uncertainty and capping upside near-term.
The iPhone Ultra foldable thesis is gaining traction, with Rothschild & Co Redburn's Timm Schulze-Melander upgrading Apple to Buy on August 17, slamming in a $400 price target, projecting 14 million iPhone Ultra units in fiscal 2027 at a $2,199 price point.
The technicals are indecisive, with the SMA-50 at $317.06 directly overhead and the price failing to reclaim it during today's session.