Robert Paul Leitao on Apple's mixed Q3 2026: What the analysts are saying - 'Richard: Let’s look at some numbers: Apple ended June trading at $289.36 Apple ended July trading up $19.45 or 6.72% at $308.91 Over the same period: DJIA is up 0.32% S&P 500 is down 0.13% NASDAQ Composite is down 3.2% Year-to-date: Apple is up 13.63% Microsoft is down 3.91% Amazon is up 17.66% DJIA is up 9.20% S&P 500 is up 9.41% NASDAQ Composite is up 9.17% Even with today’s big sell-off the company is outperforming the big cap indexes on both 1-month and YTD comparisons. I’m not reading more it the post-earnings price action in Apple than an adjustment to pricing based on a re-evaluation of expectations following June quarter results and September quarter commentary.'
on Apple's mixed Q3 2026: What the analysts are saying - 'It was fairly precipitous, but it’s not the first time. “These are not the ‘droids we’re lookng for. Move along….”'
on Premarket: Apple is red - 'Apple’s market cap took a double whammy hit today. Not only did it sustain a -7.35% drop, the outstanding shares reported in the newly released 10Q showed 14,594,180,000 shares outstanding, down from 14.68B shares. Share reduction is roughly 86M shares. With both of those happening, AAPL market cap drops to $4.537T. https://s2.q4cdn.com/470004039/files/doc_earnings/2026/q3/filing/10Q-Q3-2026-as-filed.pdf Page 24 of the 10Q shows repurchasing – interesting that again, like in March 2026, no repurchases were done in April 2026, missing a drop into $250 range (March) and $265 range (April). But as Robert pointed out, a May ASR of $10B to buy 26.5M shares (price to be determined) was added to a regular expenditure for 26.9M shares at $297.18 ASP, followed by June purchasing (during black out period) of 26.2M shares at $296.18 ASP. Total spent was $25.8B for 79.6M shares although it’s not clear if all of the $10B was spent, leaving the ASP to be determined. I wonder if the pause saved some cash to cover for extra Mac Neo chip production and increased memory costs?'
on Apple's mixed Q3 2026: What the analysts are saying - 'The price drop after the earnings report was what I was worried about, especially after the quick rise in share price in the run up to this earnings report. I have been busy and haven’t had a chance to really digest the report but on quick examination, it looks good and Apple remains in good shape despite the high percentage loss today. It is better to have excellent demand but with supply chain issues than have excess supply and not enough demand. With this in mind, it probably was a good time for Apple to be raising prices. I am also guessing the supply constraints are scaring the traders and thus the big exit today. My guess that the long term investors are holding pat. I see no reason to sell right now except if you need the cash(or you see something better in the markets) I know that TC wanted things in good order turning things over the Ternus so maybe Apple reported the worst case scenario so that on Ternus’s first quarter things will look much better? One can always hope.'
on Premarket: Apple is red - '@Joseph: I just posted my thoughts on the: “Apple’s mixed Q3 2026: What the analysts are saying” thread.'
on Apple's mixed Q3 2026: What the analysts are saying - 'People are always looking for a boogey man they can blame something on. Options are a common scapegoat, for changes in a stocks valuation, and comes from those with little to no understanding of what makes them move. Options are reactive in nature. Options pricing follow changes in the underlying stock pricing. The stock moves first and the options follow.'
on Premarket: Apple is red - 'Now the stock app shows volume of 127M shares. Three or four times normal. I think it was a double whammy. Some people took profits in Apple and bought hyperscalers when they were perceived to be low. When the new Siri, the folding iPhone, the M6 and more come out this will be forgotten.'
on Apple's mixed Q3 2026: What the analysts are saying - 'Joseph – Amazon along with the other hyperscalers have amassed over $1 trillion of hidden debt. lycoristechnologies.com/blog/hyperscaler-off-balance-sheet-ai-debt/ “The most important number in Big Tech’s AI buildout may be the one that doesn’t appear in a standard debt-to-equity ratio. A new Nikkei analysis estimates that five hyperscalers — Alphabet, Microsoft, Amazon, Meta, and Oracle — now carry roughly $1.65 trillion in off-balance-sheet debt tied to AI, a figure that has grown about eightfold since 2022 and now exceeds the same companies’ combined on-balance-sheet debt of roughly $1.35 trillion. Put plainly: the liabilities investors can’t easily see are now larger than the ones they can.”'
on Apple's mixed Q3 2026: What the analysts are saying - 'And for all of the Dan Niles’s out there, yeah Kylo Ren but that’s Disney and the guy from Lost trying to spice things up more than a logical extension of the original intent of the original author. If Star Wars could just chuck that up to a multi-verse timey-whimy thing the franchise would be in much better shape.'
on Premarket: Apple is red - 'I decided to pick up some shares at $301. I realize that we may not have seen the total sell off yet, but it is for the longterm. Right as I made my purchase, I watched the stock price. It didn’t change any. 😉'
on Apple's mixed Q3 2026: What the analysts are saying - 'Maybe someone with more knowledge could answer this. I’m wondering how much of the drop is due to options expiring. As Robert wrote, Apple is still higher than just a short time ago. Could there have been some extra “push” to get the price down before the options expired, essentially using the downward momentum usually seen after earnings are reported? If so, would the price again rise some over the next few weeks because options trading caused Apple to be oversold?'
on Apple's mixed Q3 2026: What the analysts are saying - 'Wamsi Mohan’s BofA note has landed. Still a Buy at $380.'
on Best and worst Apple analysts: Fiscal Q3 2026 - 'Mebbe. What I think is much more likely is increased prices for the competition will make Apple products more popular than ever. This is the core thing most of the negative ANALysts miss.,'
on Apple's mixed Q3 2026: What the talking heads are saying - 'Ha ha.. I just did exactly that – showing willing. An easy $50 per share coming.'
on Apple's mixed Q3 2026: What the analysts are saying - 'Upvoted. Confirmation bias: Laura convinced herself that cloud-AI wins, demolishing the value of safe and powerful client devices. In AI terms, it’s ‘overfitting’.'
