Last updated: May 21, 2026  ·  ← Back to Stock Fact Sheets

Apple Inc. (AAPL) — Company Overview

Apple Inc. (NASDAQ: AAPL) is the world’s largest consumer technology company by market capitalization, headquartered in Cupertino, California. Founded in 1976 by Steve Jobs, Steve Wozniak, and Ronald Wayne, Apple designs and sells smartphones (iPhone), computers (Mac), tablets (iPad), wearables (Apple Watch, AirPods), and a growing portfolio of high-margin software services. With over 2.5 billion active devices worldwide, Apple has one of the most powerful installed base monetization engines in the history of technology. As of May 2026, the company is in the midst of a historic CEO transition: Tim Cook, who has led Apple for 15 years, will step down on September 1, 2026, with John Ternus — Apple’s Senior VP of Hardware Engineering and a 25-year veteran — taking over as CEO.

Q2 FY2026 Earnings: Records Across the Board

Apple reported Q2 FY2026 results on April 30, 2026, delivering its best March quarter in company history. Revenue came in at $111.2 billion, up 17% year-over-year and beating the $109.66 billion consensus. EPS of $2.01 beat the $1.95 estimate. Gross margin hit 49.3%, above the 48.4% expected. iPhone revenue reached $57.0 billion, a March quarter record (+22% YoY), though it narrowly missed the $57.21 billion estimate due to supply constraints on A19 silicon. Services hit an all-time record of $30.98 billion at a 76.7% gross margin. The company authorized a new $100 billion share repurchase program and raised its quarterly dividend 4% to $0.27 per share.

The Services Engine

Services is Apple’s most important long-term business story. At $30.98 billion in Q2 FY2026 and a 76.7% gross margin, Services is nearly twice as profitable per dollar as Apple’s hardware business. The segment includes the App Store, Apple Music, iCloud, Apple TV+, Apple Arcade, Apple Pay, and a growing advertising business. With 2.5 billion active devices as the base, even modest increases in services attach rate create significant incremental revenue. The Services trajectory is why analysts like Wedbush’s Dan Ives target $400 — he argues the market still undervalues the compound growth potential of Apple’s recurring revenue stack.

The CEO Transition

Tim Cook announced on April 23, 2026 that he would step down as CEO effective September 1, 2026, becoming Executive Chairman. John Ternus — widely regarded as one of the most respected product executives in Silicon Valley — was named his successor. The stock fell 2.52% on the announcement before recovering. The broad analyst consensus is that the transition is orderly and the incoming CEO is a known product quantity. Cook’s parting advice: “One of the most important decisions he will make is where to spend his time… never forget the North Star.” Apple is also reportedly considering its first major AI acquisition under the new leadership structure.

Related Coverage on FactSheets.com

• Market Recap May 14 — AAOI, NBIS, AAPL, NVDA
• NVDA — NVIDIA Stock Fact Sheet
• All Stock Fact Sheets

This fact sheet is for informational purposes only and does not constitute investment advice. Data as of May 21, 2026.