The Bid & Ask

Quotations, Dispatches, and the Daily Tape

Thursday, August 13, 2026

Subject of the day

AAPL

Concerning the House

Apple Inc. designs, manufactures, and markets smartphones, personal computers, tablets, wearables, and accessories worldwide. The company offers iPhone, a line of smartphones; Mac, a line of personal computers; iPad, a line of multi-purpose tablets; and wearables, home, and accessories comprising AirPods, Apple Vision Pro, Apple TV, Apple Watch, Beats products, and HomePod, as well as Apple branded and third-party accessories. It also provides AppleCare support and cloud services; and operates various platforms, including the App Store that allows customers to discover and download applications and digital content, such as books, music, video, games, and podcasts, as well as advertising services include third-party licensing arrangements and its own advertising platforms. In addition, the company offers various subscription-based services, such as Apple Arcade, a game subscription service; Apple Fitness+, a personalized fitness service; Apple Music, which offers users a curated listening experience with on-demand radio stations; Apple News+, a subscription news and magazine service; Apple TV, which offers original content and live sports; Apple Card, a co-branded credit card; and Apple Pay, a cashless payment service, as well as licenses its intellectual property. The company serves consumers, and small and mid-sized businesses; and the education, enterprise, and government markets. It distributes third-party applications for its products through the App Store. The company also sells its products through its retail and online stores, and direct sales force; and third-party cellular network carriers and resellers. The company was formerly known as Apple Computer, Inc. and changed its name to Apple Inc. in January 2007. Apple Inc. was founded in 1976 and is headquartered in Cupertino, California.

United States · www.apple.com

The Ledger
LineJun 2025Sep 2025Dec 2025Mar 2026
Revenue$94.04B$102.47B$143.76B$111.18B
Gross profit$43.72B$48.34B$69.23B$54.78B
Operating income$28.20B$32.43B$50.85B$35.88B
Net income$23.43B$27.47B$42.10B$29.58B
Diluted EPS1.571.852.842.01
Free cash flow$24.41B$26.49B$51.55B$26.73B
CapEx-$3.46B-$3.24B-$2.37B-$1.97B
The Long Run

FY 2009–2025 · 17 years

LineLatestCAGRTrend
Revenue$383.29B+16.7%
Gross profit$195.20B+22.0%
Operating income$114.30B+22.6%
Net income$93.74B+20.4%
Cash from ops$110.54B+20.7%
Quotation

$302.25

-2.66 (-0.9%)

52w hi$339.79
52w lo$224.07
Vol38.82M
As ofAug 12
The Verdict

Buy

Our score +0.63

Short+0.24
Medium+0.83
Long+1.01

computed 2026-08-12

By the Numbers

Apple Inc.

Technology · Consumer Electronics

Market cap$4.41T
Enterprise value$4.47T
Trailing P/E34.66x
Forward P/E31.79x
EV / EBITDA26.62x
P / S (ttm)9.45x
Profit margin27.6%
Return on equity148.8%
Revenue growth+16.4%
Earnings growth+28.7%
Debt / equity78.44
Risk Metrics
Beta vs SPX1.10
Corr SPX0.63
Annual vol28.7%
Annual ret+22.3%
Sharpe0.78
Max DD-33.4%

Window: 504 trading days (504 obs)

Layer Breakdown
LayerRawContribution
Fundamental+0.44
Sector+0.14
Technical+0.24
Earnings+0.00
Sentiment+0.00

macro × 1.00 · 2026-08-12

Recent Sessions
DateOpenHighLowCloseVol
Aug 12$305.10$305.66$300.57$302.2538.82M
Aug 11$307.75$309.97$302.79$304.9137.48M
Aug 10$306.83$308.26$304.61$308.2644.81M
Aug 7$311.45$314.81$310.74$313.3334.44M
Aug 6$314.34$316.29$309.23$312.4146.14M