Navellier's Apple Stock Rating Shifts as iPhone Ultra Looms

Louis Navellier has upgraded his rating for Apple Inc.'s stock ahead of its highly anticipated 'surprise and shine' event. The stock, with ticker AAPL, has been a favorite among investors in the past, including Navellier's own portfolio. In fact, he first recommended it in November 2004 and sold it in October 2008 for a gain of 253%. He bought it again in October 2009 and sold it in February 2013 for a gain of 152%.

However, Navellier's team has largely avoided the stock since then due to its sluggish earnings and sales growth. Revenue grew just 2% in fiscal 2024 and 6.4% in fiscal 2025, which is not enough for their portfolio requirements. The Stock Grader agreed, giving AAPL a C or D grade for most of the past five years.

But that's about to change. As of now, AAPL carries a B grade in Stock Grader, a significant shift from its recent performance. Additionally, Apple's stock has reached a new high above $340 at the end of July. Furthermore, Tim Cook has officially stepped down as CEO and handed over the reins to John Ternus, a 25-year veteran who has spent his career as the company's SVP of Hardware Engineering.

Ternus takes over at an exciting time for Apple, as it prepares to launch its biggest hardware bet in over a decade: the iPhone Ultra. The analyst community has raised fiscal year 2026 earnings estimates, expecting $8.81 per share and total sales of $477.68 billion, representing 18% annual earnings growth and 14.8% annual sales growth.

However, Navellier cautions that historically, AAPL has not reacted positively to new product launches. In fact, the stock tends to slide lower on the day of the unveiling, with an average decline of 0.7% since the first iPhone's release in 2007.