CUPERTINO, California, August 26, 2026, 22:05 (PDT)
- Apple stock gained 1.15% to close at $313.45, increasing its quoted market value by about $51.8 billion.
- Apple’s event on September 9 comes 13 days ahead of when investors review the iPhone’s premium product cycle.
- iPhone revenue climbed 21.7% to $54.25 billion in the last quarter, accounting for almost half of Apple’s total sales.
Apple Inc. (NASDAQ:AAPL) stock climbed 1.15% on Wednesday, with the company announcing September 9 as the date for its upcoming Apple Event. The increase of $3.55 per share boosted its market capitalization by roughly $51.8 billion, given the 14.59 billion shares in circulation.
The development is significant since the iPhone continues to be Apple’s main product driver. It brought in $54.25 billion in the last quarter, accounting for 49.6% of the company’s revenue. This turns the event into a short-term gauge for premium pricing, upgrade interest, and hardware profitability.
Apple’s “Surprise and shine” event will be broadcast live at 10 a.m. Pacific time. The company’s event website does not mention specific products. Reuters has reported that Apple is anticipated to reveal its latest iPhone lineup, with the potential debut of its initial foldable device Apple Event; Reuters.
Introducing a foldable device would extend Apple’s premium product range, rather than target high-volume sales. According to IDC, shipments of foldable iPhones could surpass 17 million units by 2027, Reuters reported. Apple has yet to officially announce the device, its pricing, or its launch timeline.
| Fiscal Q3 category | Revenue | Year-on-year | Share of total |
|---|---|---|---|
| iPhone | $54.25 billion | +21.7% | 49.6% |
| Services | $30.74 billion | +12.1% | 28.1% |
| Mac | $10.35 billion | +28.7% | 9.5% |
| Wearables, Home and Accessories | $7.88 billion | +6.5% | 7.2% |
| iPad | $6.19 billion | -5.9% | 5.7% |
The most recent quarter sets a high benchmark. Apple reported revenue of $109.42 billion, representing a 16% increase. Net income climbed 27.1% to $29.79 billion, and diluted earnings were $2.02 Apple financial statements.
Mix continues to play a key role. Services delivered a gross margin of 75.6% last quarter, compared to 40.1% for products. While a more expensive phone could improve product economics, the final gain will depend on component expenses and initial production yields.
Apple posted a gross margin of 50.1%. Tariff refunds accounted for around two percentage points of that figure. This advantage raises the underlying margin threshold for upcoming hardware products to surpass Apple earnings release.
Shares ended the session at $313.45, with 34.02 million shares traded. This represented 61% of their 65-day average volume. In after-hours trading at 7:59 p.m. Eastern time, the stock edged down 0.53% to $311.78 market data.
Valuation offers little upside for a typical product launch. Apple is priced at 33.8 times projected earnings. The mean price target among 45 analysts stands at $326.34, just 4.1% higher than its closing price on Wednesday. S&P Global data collected by StockAnalysis shows their consensus view is Buy.
The event marks the first significant product unveiling to be held under incoming CEO John Ternus, who is set to take on the position on September 1, Reuters reported. Tim Cook will transition to the role of executive chairman.
Risks: Apple might restrict the event to minor improvements. Introducing a foldable could involve elevated production expenses, restricted supply or postponed release. Weaker smartphone demand could challenge the maintenance of premium prices.
Investors are set to monitor three key updates on September 9: the initial pricing, timing for shipments, and indications of a new form factor. These disclosures will clarify whether Wednesday’s $51.8 billion increase in valuation signaled expectations for a significantly larger iPhone profit pool or simply another routine annual update.
Related articles: NASDAQ:AAPL
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