PREVIEW: Apple slides; investors focus on iPhone sales

QUALCOMM Incorporated

30/07/2026 17:53

** Apple AAPL.O shares fell 1.9% on Thursday ahead of quarterly results after the bell, with investors focused on sales growth after the company kept iPhone prices steady
** The iPhone maker is expected to post a 16% rise in third-quarter revenue to $108.65 bln and adj. EPS of $1.89 vs $1.57 a yr ago, per LSEG
** AAPL raised iPad and MacBook prices last month as it sought to offset cost increases from a shortage of memory and storage chips caused by massive AI datacenter buildouts, but kept iPhone prices unchanged
** Key supplier Qualcomm QCOM.O said on Wednesday that supply constraints would reduce its component share in the next iPhone launch
** AAPL has surged about 22% YTD, outperforming the Nasdaq's .IXIC 7.7% gain, trading ~4% below its record intraday high from July 29
** Shares recently traded at 35 times forward earnings estimates, above a five-year average of 28, suggesting potential overvaluation

 (Reporting by Noel Randewich)
 ((noel.randewich@thomsonreuters.com))