Apple Selloff Masks Bullish Signs for iPhone 18 Launch

Apple's recent earnings beat was overshadowed by a one-time tariff refund worth $0.11 per EPS, leading to a 9% selloff despite a quarterly revenue of $109 billion.

The company dropped 7% last week while the S&P 500 gained 1%, with options and prediction markets signaling August consolidation before the September iPhone event.

Prediction markets price a 97% chance of an iPhone 18 launch and 90% odds of a foldable device arriving before year-end.

Apple's stock trades at $308.91, a Hold rating according to analysts, with a consensus target of $323.28 implying roughly 4.6% upside.