Story perspectives

Apple hits $340, unveils leasing, appoints Ternus CEO

8/1/2026

Summary

Apple Hits $340

Apple stock broke $340 on July 28, 2026, lifting market cap above $5 trillion.
Apple posted Q3 revenue of $109.42 billion and EPS $2.02, beating estimates of $108.65 billion and $1.89.
HSBC raised Apple’s price target to $366 on July 17.
Apple shares fell 7.23% to $309.33 in pre-market trading on Friday, about 4.5% below the 20-day average of $324.35.

Summary

Apple Introduces Safety

Apple introduced new child-safety tools in its Family Accounts, allowing parents to control apps, websites, screen time, and sensitive content.
Apple launched an iPhone leasing option with Klarna priced at $18 a month to mitigate the impact of price increases.
Tim Cook will become executive chairman while John Ternus assumes the CEO role on Sept. 1.

History

Historical Context

When Apple unveiled the first iPhone in 2007, the company’s market value surged past $100 billion, reshaping consumer technology. Steve Jobs highlighted that the device sold 1 million units within the first 74 days, generating $1 billion in revenue. In July 2026, Apple’s shares topped $340, pushing market capitalization beyond $5 trillion as it introduced Family Accounts safeguards and an $18-monthly iPhone lease with Klarna. These moves echo the 2007 breakthrough, signaling Apple’s strategy to monetize while navigating leadership transition to CEO John Ternus and executive chairman Tim Cook.

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Apple Hits $340

Apple stock broke $340 on July 28, 2026, lifting market cap above $5 trillion.
Apple posted Q3 revenue of $109.42 billion and EPS $2.02, beating estimates of $108.65 billion and $1.89.
HSBC raised Apple’s price target to $366 on July 17.
Apple shares fell 7.23% to $309.33 in pre-market trading on Friday, about 4.5% below the 20-day average of $324.35.

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