22% Growth in iPhone Powers Apple’s (AAPL) Rally

4 weeks ago 8

Soumya Eswaran

Fri, July 17, 2026 astatine 9:16 AM CDT 3 min read

Wedgewood Partners, an concern absorption company, released its first-quarter 2026 capitalist letter. A transcript of the missive tin beryllium downloaded here. Wedgewood Composite delivered a nett instrumentality of 9.4% successful the 2nd 4th compared to 15.2% for the Standard & Poor's 500 Index, 16.7% for the Russell 1000 Growth Index, and 13.9% for the Russell 1000 Value Index. The steadfast is optimistic astir the semipermanent maturation of hyperscalers and has accrued its investments successful this sector, citing their important net imaginable and important relation successful AI adoption. Capital has besides been redirected towards exertion hardware stocks, particularly semiconductors, which present marque up a larger stock of the S&P 500 Index. Semiconductor stocks person benefited from hyperscalers' spending, but the steadfast expresses caution astir cyclical hazard and volatility. However, the momentum-driven marketplace negatively affected the Wedgewood fund's high-quality stocks, starring to a 25% instrumentality implicit the past 15 months, importantly underperforming the 90% summation of the S&P 500 Momentum ETF (SPMO). In addition, delight cheque the Fund's apical 5 holdings to cognize its champion picks successful 2026.

In its Q2 2026 capitalist letter, Wedgewood Partners highlighted Apple Inc. (NASDAQ:AAPL). Apple Inc. (NASDAQ:AAPL) is simply a starring multinational exertion institution that manufactures and markets smartphones, idiosyncratic computers, tablets, wearables, and accessories. On July 16, 2026, Apple Inc. (NASDAQ:AAPL) closed astatine $333.26 per share. One-month instrumentality of Apple Inc. (NASDAQ:AAPL) was 11.83%, and its shares gained 57.81% implicit the past 52 weeks. Apple Inc. (NASDAQ:AAPL) has a marketplace capitalization of $4.89 trillion.

Wedgewood Partners stated the pursuing regarding Apple Inc. (NASDAQ:AAPL) successful its Q2 2026 capitalist update:

"Top show contributors for the 2nd 4th see Taiwan Semiconductor Manufacturing, Alphabet, United Rentals, Apple Inc. (NASDAQ:AAPL), and Visa.

Apple was besides a apical contributor to show during the quarter. Revenues grew 17%, driven by 22% maturation successful iPhone and 16% maturation successful services. The iPhone 17 household has catalyzed a coagulated upgrade rhythm up of what we expect to beryllium different beardown motorboat aboriginal this year, featuring a caller foldable signifier factor. Because input prices for DRAM person risen astatine a parabolic rate, the Company precocious raised prices connected immoderate of its devices to walk these costs through. As 1 of the largest azygous purchasers of DRAM, the Company has beardown negotiating leverage, but it tin besides instrumentality hardware and bundle innovations to trim its dependence connected memory."

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