We use Google Analytics to count anonymous page views and understand which content gets read. No ads, no profiles. Decline keeps you on cookieless mode. Details.
Apple Inc.
Information Technology · Technology Hardware, Storage & Peripherals
Structural read: Apple is the only vertically integrated stack in consumer compute - silicon (M/A/S/R series), OS, distribution, payments, and identity all in one P&L. Services run at ~74% gross margin vs hardware ~37%, and the mix has drifted from 16% (2018) to ~28% of revenue (TTM).
Apple Intelligence routes most inference on-device via the Neural Engine, with Private Cloud Compute for heavier prompts and a ChatGPT fallback - making AAPL the largest distributor of edge-AI inference by unit volume.
- Services ~$110B run-rate at ~74% GM; >1B paid subs across the base
- Installed base 2.35B+ active devices; iPhone replacement cycle elongating but ASPs rising (Pro/Pro Max mix)
- Apple Silicon owns the M-series Mac stack end-to-end; A-series + Neural Engine = on-device AI distribution moat $NVDA can't touch on phones
- ~$110B/yr buyback + dividend; net cash target zero = mechanical EPS tailwind
- Vision Pro is an optionality call on spatial compute, not modeled into the multiple
- iPhone unit growth flat-to-negative since FY22; China revenue −13% YoY most recent print on $HWAWEI Mate share gains
- Google TAC ($20-26B/yr, ~17-22% of Services op income) at risk from DOJ search remedy
- App Store 30% take rate under fire (EU DMA, Epic, Korea); structural Services GM ceiling
Each weekday: the scan's ENTER setups with entry, stop and target, every new ticker teardown, and the bubble shifts that move names like this one. Free. Education, not advice.
No spam. One email per day max. Pro adds Telegram trade alerts and higher AI-assistant limits.
- 33x fwd P/E vs MSFT 32x / GOOGL 22x - priced for re-acceleration that hasn't printed
Auto-computed retracement of the trailing 52w low-high leg. Recomputed on each refresh; not a curated level.