Apple Inc. shares rose to a fresh record before the company’s next earnings report, as gains in the iPhone maker outpaced a weaker session for several large technology hardware and chip stocks.

Apple Outperforms Technology Equipment Sector

Apple stock climbed 3.55% during the session, while the Technology Equipment sector declined 0.40%. The move contrasted with losses among several high-turnover technology names. Micron Technology fell 4.38%, SanDisk dropped 5.87%, and Intel declined 2.96%.

AAPL traded above $333, lifting Apple’s market capitalization beyond $4.9 trillion. The shares also moved close to their all-time intraday high of $334.99, which was reached on July 17, 2026.

The advance came as investors focused on Apple’s artificial intelligence strategy, stronger supply chain signals, product updates, and analyst actions ahead of earnings. Apple also remains one of the largest companies by revenue, with $416.16 billion in recent annual revenue. Because Apple’s valuation is closely tied to the durability of iPhone demand, services growth, and ecosystem retention, the upcoming report is being watched for signs that those drivers remain intact.

Baird Raises Price Target Ahead of July 30 Earnings

Baird raised its price target on Apple to $330 from $310 and kept an Outperform rating on the stock. The firm said it expects solid fiscal third-quarter results, supported by iPhone demand and steady growth in services.

Apple is scheduled to report earnings on July 30. Options markets are pricing in an approximately 3.5% move in the stock after the results, as traders prepare for guidance and product-cycle updates.

$AAPL | Baird maintains 𝐎𝐮𝐭𝐩𝐞𝐫𝐟𝐨𝐫𝐦 on 𝐀𝐩𝐩𝐥𝐞, 𝐫𝐚𝐢𝐬𝐞𝐬 𝐏𝐓 𝐭𝐨 $𝟑𝟑𝟎 𝐟𝐫𝐨𝐦 $𝟑𝟏𝟎

Analyst sees solid FQ3 results for Apple, driven by strong iPhone/services growth and tailwinds from the product cycle and Siri AI developments. pic.twitter.com/xA3lGM7NSU

— Hardik Shah (@AIStockSavvy) July 24, 2026

Baird analyst William Power said, “We expect solid FQ3 results, driven by strong iPhone growth and steady services trends.” He also said memory pricing remains a challenge, although price increases may help reduce some of that pressure.

Power cited Apple’s cash generation, product cycle, and early feedback on Siri AI as additional factors. Apple generated about $129 billion in free cash flow over the last twelve months, giving the company flexibility as it funds product development, shareholder returns, and longer-term software initiatives.

Several analysts have also raised revenue forecasts, citing stronger performance in emerging markets and momentum in spatial computing.

AI, M6 Macs, and Services Remain in Focus

Apple’s integration of artificial intelligence remains a central focus for investors. The company has been adding generative AI features across its devices and services, increasing attention on software-driven growth within its ecosystem.

Siri AI updates are also drawing interest. Early comments surrounding Apple’s AI assistant have supported expectations that future devices may include stronger software-linked demand. The rollout matters because Apple’s AI strategy is being evaluated less as a standalone product and more as a way to make its hardware, operating systems, and services work more tightly together.

Apple is preparing to introduce its next-generation M6 processor across its Mac lineup. The refresh is expected to begin this fall and continue into next year. Expected products include updated 14-inch MacBook Pro models and new iMac computers. The iMac update would be the first refresh for that desktop line in two years.

The company is also preparing Apple Upgrade, a new device leasing program backed by Klarna. The service is expected to launch in the United States on July 28.

Evercore ISI maintained its Outperform rating and $365 price target after reports about the program. The firm also kept its positive view after reports of settlement talks with the U.S. Department of Justice over an antitrust lawsuit filed in March 2024. Any update on those talks would be relevant for investors tracking regulatory risk around Apple’s platform practices.

Ford to Adopt Apple MapKit for Automotive

Apple is also expanding its role in automotive software after ending its electric vehicle project two years ago. Ford will become the first automaker to adopt Apple’s new MapKit for Automotive software development kit.

The software will be integrated into dashboards across Ford’s upcoming electric vehicle platform. It will also provide road data for Ford’s BlueCruise hands-free driving feature.

Unlike CarPlay, MapKit for Automotive places Apple’s mapping tools deeper inside vehicle systems. The adoption gives Apple a broader role in vehicle software without producing its own car, and it provides another example of the company extending its software stack into third-party hardware environments.