Apple's shares have traded near $320 in late August 2026 following a strong fiscal third-quarter beat, with revenue reaching a June-quarter record of $109.4 billion (up 16% year over year) and EPS of $2.02, supported by 22% iPhone growth and record services revenue. The company guided September-quarter revenue growth of only 9–11%, citing significant supply constraints on advanced-node chips for iPhone, Mac, and iPad plus a sequential foreign-exchange headwind, tempering expectations relative to Street forecasts. With Tim Cook retiring and John Ternus assuming the CEO role on September 1, traders are monitoring execution on the iPhone 17 cycle, memory-cost inflation, and the pace of AI-related services expansion against a backdrop of elevated valuations near 35 times forward earnings. Upcoming catalysts include September product events and the new CEO's first earnings call in late October, while broader equity-market sentiment and Treasury yields continue to influence risk appetite for mega-cap tech names.