AppleAAPL

Business Snapshot

• Apple Inc. (AAPL) is a NASDAQ-listed common stock trading in USD. SEC linkage matches Apple Inc., CIK 0000320193.
• Current quoted price in the provided data is around $310.28, with the session showing a wide range: low $290.23 / high $313.26. Market status is pre-market, and the active timeframe is 1H.
• No sector/industry classification was provided in the payload, so this briefing does not assume one.
• The stock has had a very strong longer-term tape in the supplied data: the 1D 200-bar window rose from $227.92 to $310.85, a gain of +36.39%, while the latest daily RSI is very elevated at 86.65.

Financial Trends

• Revenue trajectory

  • Latest reported revenue was $111.184B for 2026-03-28, down $32.572B QoQ from $143.756B in 2025-12-27.
  • Versus 2025-06-28 revenue of $94.036B, latest revenue is up $17.148B, or roughly +18.2%.
  • Important comparability note: the 2025-09-27 period is a 10-K annual figure showing $416.161B, while the other listed periods are 10-Q quarterly figures. That makes direct sequential comparison to the annual period less meaningful. On a latest-versus-four-periods-ago basis, however, the latest quarterly revenue is meaningfully above the June 2025 quarterly level.

• Profitability and margins

  • Gross margin improved steadily across the provided periods: 46.49% in 2025-06-28, 46.91% in 2025-09-27, 48.16% in 2025-12-27, and 49.27% in 2026-03-28.
  • Latest gross margin is up +1.11 percentage points QoQ from 48.16% and up +2.78 percentage points from 46.49% four periods ago.
  • Operating margin was 29.99% in 2025-06-28, 31.97% in 2025-09-27, 35.37% in 2025-12-27, then eased to 32.28% in 2026-03-28.
    • Latest operating margin declined -3.09 percentage points QoQ, but remains +2.29 percentage points above the June 2025 level.
  • Net margin followed a similar pattern: 24.92% → 26.92% → 29.28% → 26.60%.
    • Latest net margin fell -2.68 percentage points QoQ, but is still +1.68 percentage points above the June 2025 level.
  • Latest net income was $29.578B, down $12.519B QoQ from $42.097B, but up $6.144B from $23.434B in 2025-06-28.
  • Latest diluted EPS was $2.01, down from $2.84 QoQ, but up from $1.57 four periods ago.

• Free cash flow and cash generation

  • Latest cash from operations was $82.627B, up $28.702B QoQ from $53.925B, and slightly above $81.754B in 2025-06-28.
  • Latest capital expenditures were $4.344B, up from $2.373B QoQ, but below $9.473B in 2025-06-28.
  • Latest free cash flow was $78.283B, up $26.731B QoQ from $51.552B, and up $6.002B from $72.281B four periods ago.
  • The four-period FCF path is $72.281B → $98.767B → $51.552B → $78.283B. That is volatile, partly affected by the annual-period comparability issue at 2025-09-27, but the latest period shows a strong rebound from the December 2025 quarter.

• Balance-sheet trajectory

  • Total assets were $371.082B latest, down $8.215B QoQ from $379.297B, but up $39.587B from $331.495B four periods ago.
  • Total liabilities declined sharply to $264.591B, down $26.516B QoQ from $291.107B, and slightly below $265.665B four periods ago.
  • Shareholders’ equity improved materially to $106.491B, up $18.301B QoQ and up $40.661B from $65.830B four periods ago.
  • Current ratio improved steadily: 0.87 → 0.89 → 0.97 → 1.07. Working capital moved from -$18.629B to -$17.674B to -$4.263B, then turned positive at +$9.473B latest.
  • Long-term debt decreased each period: $82.430B → $78.328B → $76.685B → $74.404B.
    • Latest long-term debt is down $2.281B QoQ and down $8.026B from four periods ago.
  • Debt/equity improved significantly from 1.25 to 1.06 to 0.87 to 0.70, reflecting both lower long-term debt and rising equity.
  • Shares outstanding declined from 14.856722B to 14.667688B, a reduction of about 189.034M shares over the four provided balance-sheet periods.

Financial Health

• The latest period shows strong financial health, especially from a liquidity and balance-sheet trend perspective:
  • Current assets of $144.114B exceed current liabilities of $134.641B, producing positive working capital of $9.473B.
  • This is a clear improvement from negative working capital in the prior three periods, including -$4.263B in 2025-12-27 and -$18.629B in 2025-06-28.
• The balance sheet is trending more conservative:
  • Long-term debt has declined for four consecutive provided periods, from $82.430B to $74.404B.
  • Debt/equity has fallen from 1.25 to 0.70, indicating improving leverage metrics.
  • Shareholders’ equity rose to $106.491B, up $40.661B from four periods ago.
• Profitability remains high, but the latest quarter did show some cooling from the prior quarter:
  • Revenue declined $32.572B QoQ.
  • Operating margin fell from 35.37% to 32.28%.
  • Net margin fell from 29.28% to 26.60%.
• The offset is cash generation:
  • Latest FCF of $78.283B rebounded strongly from $51.552B QoQ.
  • Cash and equivalents ended at $45.572B, nearly flat QoQ from $45.317B, but up from $36.269B four periods ago.
• Overall interpretation: the provided data points to a company with very strong cash generation, improving liquidity, lower leverage, and expanding gross margin, though the latest quarter shows sequential revenue and operating-margin normalization after the strong December 2025 period.

Insider Activity

• Insider sentiment for 2026-02-27 to 2026-05-28 is marked Neutral (-10) in the payload.
• Reported insider activity shows:
  • $0.00 of buys across 0 transactions.
  • $140.125M of sells across 19 transactions.
  • Net insider activity: -$140.125M.
• Recent Forms 4/5 transactions from 2026-04-28 to 2026-05-28 include:
  • Ben Borders sold 1,274 shares at $290, totaling $369,460, transaction dated 2026-05-08, filed 2026-05-12.
  • Arthur D. Levinson sold 149,527 shares at $284.57, totaling $42.551M, and 100,473 shares at $285.04, totaling $28.639M, both transaction dated 2026-05-06, filed 2026-05-08.
  • A separate listed transaction shows 5,000 shares at $0, totaling $0.00.
• Trading interpretation:
  • The absence of insider buying and the sizable insider sales are not bullish on their own, but the provided sentiment classification is still Neutral, not strongly negative.
  • The reported sale prices around $284–$290 are below the current quoted area near $310, meaning the stock has traded higher after at least some of the recent sales.

Multi-Timeframe Technical Context

• Ultra-short-term: 1m

  • The 1m tape is slightly soft: 200 bars moved from $310.61 to $310.10, down -0.16%.
  • RSI is subdued at 39.06, and MACD is slightly negative at -0.0474 versus signal -0.0366.
  • Price is below short moving averages: EMA 12 $310.15, EMA 26 $310.20, EMA 50 $310.24, and SMA 200 $310.66.
  • Bollinger range is tight: $309.94 to $310.50, with price near the lower half. This suggests short-term compression and mild downside pressure unless price reclaims the $310.20–$310.50 zone.

• Short-term: 5m and 15m

  • The 5m 200-bar window is positive overall, rising from $308.23 to $310.10, or +0.61%, but the current setup is mixed.
  • 5m RSI is neutral-soft at 45.71, with MACD -0.1252 slightly above signal -0.1304, suggesting downside momentum may be stabilizing but not yet strongly bullish.
  • 5m price sits below EMA 12 $310.21, EMA 26 $310.33, EMA 50 $310.49, SMA 50 $310.66, and SMA 200 $310.62.
  • The 15m view is more pressured: RSI is 28.20, near oversold, and MACD -0.1614 is below signal -0.0876.
  • 15m price at $310.10 is below SMA 20/SMA 50 $310.70 and below EMA 12 $310.42 / EMA 26 $310.58 / EMA 50 $310.55.
  • However, 15m price remains above the 15m SMA 200 of $309.63 and near the Bollinger lower band of $309.77, so this is a key near-term support area.

• Hours-to-days: 1H

  • The 1H 200-bar trend is strong: $292.9543 to $310.10, up +5.85%.
  • But the latest 1H momentum is cooling: RSI 14 is 28.17, while MACD 0.3471 is below signal 0.5165.
  • Price is below EMA 12 $310.50 and slightly below SMA 20 $310.46, but still above EMA 26 $310.15, EMA 50 $308.93, SMA 50 $309.70, and far above SMA 200 $300.77.
  • The 1H Bollinger bands are $308.00 lower / $310.46 middle / $312.93 upper. Price near $310.10 is just below the middle band, suggesting the market is testing whether the recent uptrend can consolidate rather than break.

• Longer-term: 1D

  • The daily chart remains strongly bullish but overextended.
  • The 1D 200-bar move is +36.39%, from $227.92 to $310.85.
  • Price is well above key daily moving averages:
    • EMA 12: $301.02
    • EMA 26: $290.75
    • EMA 50: $280.82
    • SMA 20: $293.39
    • SMA 50: $272.88
    • SMA 200: $262.40
  • Daily MACD is positive at 10.2686 versus signal 9.4234.
  • The risk is overbought conditions: daily RSI is 86.65, and price is near the upper Bollinger band of $317.50.
  • Technical takeaway: the long-term trend is bullish, but the stock is stretched; near-term pullbacks or sideways consolidation would be normal after this kind of daily RSI reading.

Bull / Bear Cases

• Short-term bull case

  • The stock remains above important 1H trend markers like EMA 50 $308.93, SMA 50 $309.70, and far above SMA 200 $300.77.
  • 15m RSI at 28.20 and 1H RSI at 28.17 indicate short-term oversold conditions within a larger uptrend, which can support bounce attempts.
  • A reclaim of the $310.46–$310.70 area would put price back above the 1H Bollinger middle band and 15m/5m moving-average cluster.
  • The session high at $313.26 is the first major breakout reference, with daily Bollinger upper band near $317.50 as a higher technical extension level.

• Short-term bear case

  • The 1m, 5m, 15m, and 1H indicators show near-term momentum deterioration: price is below many short-term EMAs/SMAs, and 15m/1H RSI readings are weak.
  • Failure to hold the $309.77–$309.63 area, which includes the 15m lower Bollinger band and 15m SMA 200, could invite a test of 1H EMA 50 $308.93 and then 1H Bollinger lower band $308.00.
  • Pre-market conditions can exaggerate moves; current 1H volume is far below its 20-bar average: 163,670 vs 2,014,327, so signals may be less reliable until regular-session liquidity improves.

• Long-term bull case

  • Financial trends are supportive: latest gross margin of 49.27% is the highest in the four provided periods, up from 46.49% four periods ago.
  • Liquidity improved materially, with working capital moving from -$18.629B to +$9.473B.
  • Long-term debt declined from $82.430B to $74.404B, and debt/equity improved from 1.25 to 0.70.
  • Free cash flow remains very large at $78.283B latest, up $26.731B QoQ.
  • Share count declined from 14.856722B to 14.667688B, supporting per-share economics if the trend continues.

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