Overview

• Apple has climbed about 8.7% in August for its best month since June 2024, though the stock remains down roughly 10% year to date.
• Investors point to Tim Cook’s Aug. 6 pledge to invest an additional $100 billion in U.S. manufacturing and an expanded Corning deal as easing the threat of further tariffs.
• Tariffs have already exacted a cost, with about $800 million recorded in Apple’s fiscal third quarter under President Trump’s levies.
• Apple recently delivered its fastest quarterly revenue growth in more than three years, driven by iPhone demand and strength in China.
• Sentiment is constrained by valuation and execution risks, with a DOJ case potentially jeopardizing roughly $20 billion a year in Google search payments to Apple and Bloomberg reporting a revamped AI strategy, while fewer than 60% of analysts rate the stock a buy.