Updated: November 29, 2025
Apple stock (AAPL) is heading into the final month of 2025 just below record highs, as investors digest fresh chip partnership rumors with Intel, new EU regulatory scrutiny, and data showing the iPhone 17 is on track to reclaim the global smartphone crown from Samsung.
Below is a news-driven rundown of everything that matters for Apple stock this weekend — written for Google News and Discover, with a focus on AAPL’s latest catalysts, risks, and what to watch next.
Key takeaways for AAPL investors
- Apple shares are trading near record territory around $278–$279 after Friday’s shortened U.S. session, valuing the company at roughly $4.12 trillion with a 52‑week range of $169.21 to $280.38. [1]
- iPhone 17 demand and a powerful upgrade cycle have Apple on track to overtake Samsung in smartphone shipments for the first time in 14 years, with projected 2025 iPhone shipments of about 243 million units and ~19.4% global share. [2]
- New rumors suggest Intel could manufacture Apple’s M‑series chips from 2027, which would diversify Apple’s supply chain beyond TSMC and further anchor high‑performance Macs around Apple Silicon. [3]
- The EU has opened a gatekeeper review into Apple Ads and Apple Maps under the Digital Markets Act, while Apple also challenges a new Indian antitrust penalty regime that could theoretically expose it to a $38 billion fine. [4]
- Legal and ESG overhangs are building, including a lawsuit alleging Apple uses conflict minerals from Congo and Rwanda, even as the company insists the majority of its cobalt is now recycled. [5]
- Wall Street remains broadly bullish: 29 analysts rate AAPL a “Buy” on average, with a 12‑month price target around $275.87, roughly in line with the current price, and several brokerages raising targets into the $300+ range. [6]
Apple stock price snapshot (as of Nov. 29, 2025)
Because U.S. markets are closed this weekend, the latest actionable data point for Apple stock is Friday, November 28, 2025:
- Last regular‑session close: $278.85, up 0.47% on the day
- After‑hours last trade: $278.37
- 52‑week range: $169.21 – $280.38
- Market cap: ~$4.12 trillion
- Trailing 12‑month revenue: $416.2 billion
- Trailing 12‑month earnings: $112.0 billion
- Trailing P/E ratio: ~37.4; forward P/E ~33.8
- Dividend: $1.04 per share annually (yield ~0.37%) [7]
Benzinga recently noted that Apple shares have not only revisited but broken through prior all‑time highs, with the stock touching roughly $280.38 amid renewed confidence in succession planning and AI strategy. [8] While the near‑term valuation is rich versus Apple’s history, it’s broadly in line with other “Magnificent Seven” mega‑caps.
iPhone 17 supercycle: Apple set to reclaim the smartphone crown
Much of Apple’s 2025 rally is being driven by signs that the iPhone 17 cycle is stronger than feared and that the long‑awaited replacement wave after the COVID‑era boom is finally here.
A round of new reports this week from Counterpoint Research — echoed by outlets including TechRadar, Fox Business, and others — projects that: [9]
- Apple will ship around 243 million iPhones in 2025,
- Samsung will ship roughly 235 million,
- Giving Apple a projected 19.4% global market share versus Samsung’s 18.7%,
- Marking the first time since 2011 that Apple leads global smartphone shipments.
The Smart Investor’s weekly market wrap today highlighted Apple as “set to become the world’s top phone maker,” noting that the iPhone 17 series, launched in September, has delivered double‑digit year‑over‑year growth in both the U.S. and China. [10]
Additional color from various analyses:
- Upgrade cycle inflection: Counterpoint analysts point out that millions of users who bought phones during the pandemic are now due for an upgrade, including ~358 million second‑hand iPhone users who may move to new Apple devices over the next few years. [11]
- Holiday quarter optimism: In Apple’s Q4 FY2025 commentary, management guided for 10–12% revenue growth in the December quarter, citing iPhone 17 strength and record services revenue. [12]
For AAPL shareholders, the takeaway is straightforward: the smartphone business, still roughly half of Apple’s revenue, is showing renewed volume growth rather than just price and mix, which supports current valuation multiples.
New Intel chip partnership rumors: what it could mean for Apple
One of the most market‑moving stories tied to Apple this weekend is actually about Intel.
On Friday, Intel stock jumped more than 7–10% in a shortened U.S. trading session after analyst Ming‑Chi Kuo suggested Apple may tap Intel to manufacture M‑series Mac processors starting in 2027. [13]
Key points from the latest reporting: [14]
- Kuo’s industry checks indicate Intel’s chance of becoming an “advanced‑node supplier” to Apple has “improved significantly”.
- Apple is said to have a non‑disclosure agreement with Intel related to its 18A / 18AP process, with a key design kit expected in early 2026.
- If all goes smoothly, Intel could begin shipping entry‑level M‑series chips in mid‑to‑late 2027, initially for lower‑end Macs.
- Apple would still rely heavily on TSMC, but could gain supply chain diversification and a stronger U.S.-based manufacturing option, which may play well with Washington’s industrial‑policy priorities.
Apple’s own stock barely budged on the news — rising less than 0.5% — but it reinforces a broader narrative that Apple is quietly positioning its Mac and AI hardware roadmap for the late 2020s, while also gaining leverage in future negotiations with TSMC. [15]
For investors, the story is strategic rather than immediately financial: any meaningful revenue or margin impact would be years away, but a successful Intel partnership could improve Apple’s resilience to geopolitical and capacity shocks in the chip supply chain.
EU gatekeeper review: Apple Ads and Maps face tougher rules
Today’s other major Apple headline centers on the European Union’s Digital Markets Act (DMA).
- Apple has formally notified the European Commission that Apple Ads and Apple Maps now meet the DMA’s user thresholds, triggering a review of whether they should be designated as “gatekeeper” services. [16]
- The Commission now has 45 working days to decide, and if it designates these services as gatekeepers, Apple would have six months to comply with stricter rules on data sharing, interoperability and self‑preferencing. [17]
Apple is pushing back, arguing that: [18]
- Apple Ads is much smaller than rivals like Google and Meta and doesn’t use cross‑service tracking in the same way;
- Apple Maps has “very limited usage” in the EU compared with Google Maps and Waze and doesn’t act as the same kind of intermediary between businesses and users.
From a stock perspective:
- The direct revenue hit from DMA compliance on Ads and Maps is likely modest in the near term, as these businesses are small versus Apple’s overall revenue base.
- But the move adds to Apple’s regulatory burden in Europe, where the DMA and other rules are already reshaping App Store practices, browser defaults and payment options.
Investors should monitor how far the EU goes in forcing Apple to open up data and interoperability for its advertising platforms — any restrictions on how Apple monetizes its ecosystem could have longer‑term implications for the high‑margin services segment.
India antitrust fight and Congo minerals lawsuit: legal overhangs grow
Apple is also spending the end of 2025 fighting major legal battles on two fronts: India and its supply chain in Central Africa.
1. Challenging India’s new antitrust penalty law
A Reuters investigation this week revealed that Apple has filed a 545‑page petition with the Delhi High Court challenging a new Indian antitrust law that allows fines based on global turnover, not just local revenue. [19]
- The rule could expose Apple to a theoretical fine of up to $38 billion (around 10% of global sales) in connection with an ongoing Competition Commission of India (CCI) probe into App Store practices. [20]
- Apple argues that applying penalties on global sales for an India‑specific case is “arbitrary, unconstitutional and grossly disproportionate”, and wants key parts of the law struck down. [21]
- A hearing is scheduled for December 3, 2025, so investors can expect another round of headlines shortly. [22]
While such a fine would be severe if ever imposed, markets often discount worst‑case regulatory numbers. The key risk is less about a one‑off check and more about precedent: if India’s approach spreads, global platform companies could face substantially higher penalties in other jurisdictions.
2. Lawsuit over alleged conflict minerals from Congo and Rwanda
Separately, advocacy group International Rights Advocates (IRAdvocates) has filed a lawsuit in Washington, D.C., accusing Apple of misleading consumers about its use of minerals linked to conflict and human‑rights abuses in the Democratic Republic of Congo and Rwanda. [23]
- The suit claims that cobalt, tin, tantalum and tungsten used in Apple’s products can be traced to suppliers connected to armed groups, forced labor and child labor, despite Apple’s public assurances. [24]
- IRAdvocates is not seeking monetary damages, but wants a legal declaration that Apple violated consumer‑protection laws and an order to stop what it calls deceptive marketing. [25]
- Apple says it has no reasonable basis to believe its supply chain supports armed groups and notes that about 76% of its cobalt in 2024 came from recycled sources. [26]
For ESG‑focused investors, these cases raise ongoing questions about supply‑chain transparency and the credibility of Apple’s sustainability reporting — themes that could become more material if regulators choose to step in or if consumer sentiment shifts.
Quiet sales‑team layoffs amid near‑record share price
Earlier this week, Bloomberg, Yahoo Finance and regional outlets reported that Apple has cut dozens of roles across its sales organization, a rare workforce reduction for a company that largely avoided the mass layoffs seen across Big Tech since 2022. [27]
What’s happening:
- Job cuts reportedly hit enterprise, education and government sales teams, including a group serving U.S. agencies like the Departments of Defense and Justice. [28]
- Apple framed the move as part of a sales restructuring to “strengthen customer engagement”, and says affected staff can apply for other roles; those who cannot find new positions by early 2026 will receive severance. [29]
- Yahoo Finance flagged that the layoffs arrived just as Apple stock printed a fresh all‑time high, characterizing the cuts as a targeted efficiency push rather than a sign of distress. [30]
In the context of 166,000+ employees, these job cuts are relatively small, but they emphasize a broader 2025 theme: even the most profitable tech giants are tuning cost structures and focusing on higher‑ROI initiatives, especially around AI and services.
Shareholder returns: buybacks, dividends and Apple’s capital‑allocation bet
Another major narrative in today’s coverage is Apple’s enormous capital‑return program.
A Dow Jones/MarketWatch analysis, republished via Morningstar, highlighted Apple as one of 10 tech companies that have “treated their shareholders like gold”, noting that it leads the sector in total dollars spent on buybacks over the past decade. [31]
Complementing that, a detailed breakdown at Gadget Hacks recently underscored the scale and intent of Apple’s approach: [32]
- Apple spent $26.2 billion on share repurchases in early 2025 alone, despite already trading at a P/E around the mid‑30s, above its long‑term average.
- The company has taken on over $100 billion in long‑term debt in recent years to fund buybacks while preserving offshore cash and strategic flexibility.
- Cumulatively, Apple is estimated to have shifted roughly $500 billion into buybacks and dividends, making capital return a central pillar of its strategy.
Financially, the latest full‑year numbers show that Apple still has room to support this approach:
- FY2025 revenue: $416.16 billion, up 6.4% year over year
- FY2025 net income: $112.01 billion, up 19.5%
- Q4 FY2025 revenue: $102.5 billion, up 8%
- Q4 FY2025 adjusted EPS: +13% year over year, with record iPhone and services revenue. [33]
Critics argue that such aggressive buybacks imply limited high‑return reinvestment opportunities, particularly after the cancellation of Apple’s car project. Supporters counter that a device‑centric AI strategy and deep ecosystem moat make returning cash while staying selective on big bets a rational choice in an uncertain AI investment landscape. [34]
What Wall Street, Jim Cramer and long‑term investors are saying today
Despite mounting regulation and legal noise, sentiment around AAPL remains broadly positive.
Analyst consensus and price targets
According to StockAnalysis and MarketBeat:
- 29 analysts currently rate AAPL, with an average recommendation of “Buy” and a consensus 12‑month target of around $275.87 — essentially flat versus Friday’s close, reflecting how quickly the stock has already re‑rated. [35]
- Recent reports show multiple banks lifting price targets into the low‑to‑mid $300s:
New institutional flows
Fresh 13F‑style filings covered by MarketBeat today show:
- Ashton Thomas Private Wealth, First Command Advisory Services and Wealth Watch Advisors all disclosed new or increased stakes in Apple, building positions at recent price levels. [39]
- Academy Capital Management trimmed its Apple position but remains invested, highlighting how some managers are rebalancing after the stock’s sharp 2025 rally. [40]
Net‑net, institutional flows still tilt constructively toward Apple, even as some value‑oriented investors take profits.
Jim Cramer, Motley Fool and the “Magnificent Seven” framing
On the opinion side:
- A piece syndicated via Insider Monkey and Finviz quotes Jim Cramer arguing that “the biggest winner after Google may be Apple”, pointing to Google’s multibillion‑dollar payments to remain the default search engine on iPhone and the potential for additional AI licensing revenue tied to Gemini. [41]
- A new Motley Fool article published this morning names Apple and Amazon as the top two ‘Magnificent Seven’ stocks to buy for 2026, emphasizing Apple’s massive installed base and fast‑growing services segment as key drivers of durable cash flow. [42]
Together, these narratives reinforce the market’s view of Apple as less about hyper‑growth and more about resilient, high‑margin cash generation, underpinned by services, devices, and long‑term AI integration.
What to watch next for Apple stock
For investors tracking AAPL into December and 2026, several near‑ and medium‑term catalysts stand out:
- EU DMA decision on Apple Ads and Maps
- Timeline: Within 45 working days of Apple’s November 27 notification.
- Watch for: Any requirements that change how Apple can use data across its ecosystem or limit its ability to privilege its own services. [43]
- December 3 hearing in India
- Outcome could shape the future of global‑turnover‑based fines for platform companies.
- Even if a $38 billion penalty remains unlikely, the court’s stance will matter for Apple’s long‑term risk profile in high‑growth markets like India. [44]
- Holiday quarter (FQ1 2026) results and iPhone 17 data
- Apple has guided for double‑digit December‑quarter growth; investors will zero in on iPhone 17 sell‑through, China performance, and early metrics around “Apple Intelligence” features. [45]
- Any confirmation of an Intel manufacturing deal
- A formal announcement that Intel will build M‑series chips, even for entry‑level Macs, would validate current rumors and likely be viewed as strategically positive for supply‑chain resilience. [46]
- Progress on lawsuits and ESG scrutiny
- Developments in the Congo conflict‑minerals case and other human‑rights or environmental investigations could influence ESG fund positioning toward the stock over time. [47]
Bottom line
As of November 29, 2025, Apple stock sits at the intersection of powerful growth drivers and intensifying scrutiny:
- The iPhone 17 supercycle and a likely return to the #1 spot in global smartphone shipments are giving bulls fundamental support for a near‑$4.1 trillion valuation. [48]
- Rumors of a renewed hardware partnership with Intel, combined with massive ongoing buybacks and resilient services growth, reinforce Apple’s image as a cash‑rich, strategically flexible platform company. [49]
- At the same time, Apple faces regulatory, legal and ESG headwinds in the EU, India and its supply chain that investors cannot ignore.
For long‑term holders, the key question is whether Apple can continue turning its ecosystem, services and on‑device AI into sustainable, high‑margin growth — enough to justify today’s premium multiple — while navigating a world that’s increasingly skeptical of tech giants’ power.
This article is for information and education only and is not personalized investment advice. Anyone considering buying or selling AAPL should evaluate their own financial situation or consult a licensed financial professional.
References
1. stockanalysis.com, 2. thesmartinvestor.com.sg, 3. www.investopedia.com, 4. www.reuters.com, 5. www.reuters.com, 6. stockanalysis.com, 7. stockanalysis.com, 8. stockanalysis.com, 9. thesmartinvestor.com.sg, 10. thesmartinvestor.com.sg, 11. 9to5mac.com, 12. www.linkedin.com, 13. www.investopedia.com, 14. www.theverge.com, 15. www.investopedia.com, 16. digital-markets-act.ec.europa.eu, 17. www.reuters.com, 18. www.thehansindia.com, 19. www.reuters.com, 20. www.reuters.com, 21. www.macrumors.com, 22. timesofindia.indiatimes.com, 23. www.reuters.com, 24. www.reuters.com, 25. www.reuters.com, 26. www.reuters.com, 27. www.sfchronicle.com, 28. www.sfchronicle.com, 29. www.sfchronicle.com, 30. finance.yahoo.com, 31. www.morningstar.com, 32. apple.gadgethacks.com, 33. stockanalysis.com, 34. apple.gadgethacks.com, 35. stockanalysis.com, 36. www.marketbeat.com, 37. www.marketbeat.com, 38. www.marketbeat.com, 39. www.marketbeat.com, 40. www.marketbeat.com, 41. finviz.com, 42. www.fool.com, 43. www.reuters.com, 44. www.reuters.com, 45. www.linkedin.com, 46. www.investopedia.com, 47. www.reuters.com, 48. thesmartinvestor.com.sg, 49. www.investopedia.com
