On 17 July 2026, Apple's stock materially outpaced the S&P 500, with coverage attributing the move to a shift in market sentiment around the company's artificial intelligence strategy [Brief - 2026-07-17]. Separately, broader macro conditions in the period included geopolitical escalation centred on the Strait of Hormuz, with Brent crude rising above $86 per barrel following Iranian attacks on UAE tankers and US military strikes against Iranian targets [Brief - 2026-07-14]. These conditions contributed to equity market volatility across European and US sessions during the reporting window [Brief - 2026-07-13].
Apple's trailing twelve-month revenue stood at $451.4 billion as of 28 March 2026, representing 16.6% year-over-year growth. Net income for the same period was $122.6 billion, with a net margin of 27.2% and an operating margin of 32.6%. Gross margin was recorded at 47.9%. EPS grew 21.8% year-over-year. The company held $45.6 billion in cash against $82.7 billion in total debt. Market capitalisation was approximately $4.9 trillion, with a price-to-earnings ratio of 40.4 [SEC 10-Q - AAPL - 2026-03-28].
Institutional ownership data recorded several material position changes in the most recent filing period. Bridgewater increased its AAPL position by 95%, while AQR Capital added 17% and Soros Fund Management added 20% to their respective holdings. Citadel reduced its position by 7.8% over the same period [SEC 13F - Citadel - Q2 2026] [SEC 13F - AQR Capital - Q2 2026] [SEC 13F - Bridgewater - Q2 2026] [SEC 13F - Soros Fund Mgmt - Q2 2026]. No insider transaction data was available for inclusion in this report.
The 10-year US Treasury yield stood at 4.57% and the 2-year yield at 4.16% at the time of this report's generation, producing a normal yield curve spread of 41 basis points [FRED DGS10] [FRED DGS2]. This report was generated in response to material institutional position changes identified across multiple significant filers in the most recent 13F cycle.