Makes the iPhone, Mac, and services; pursuing on-device AI ("Apple Intelligence") rather than large data-center models.
| Indicator | Score | Band |
|---|---|---|
| Depreciation Integrity | 25 | GREEN–AMBER (~20–30) |
| Capex-vs-Demand Gap | 40 | AMBER (~35–45) |
| Insider-Selling Intensity | 22 | GREEN (~20–25) |
| Financing Opacity / Circular Leverage | 12 | GREEN (~10–15) |
| Energy & Diminishing Returns | 35 | AMBER (~30–40) |
| Organic End-User Demand | 45 | AMBER (~40–50) |
Q. iPhone grew 4% in FY2025 with Apple Intelligence available. Where's the upgrade cycle?
A. Filed evidence: iPhone $201,183M (FY2024) → $209,586M (FY2025) = +4.2%. Apple Intelligence launched with iPhone 16 (Sep 2024). FY2025 includes 9 months of AI-capable hardware in the market. +4% is not a supercycle. Q2 FY2026 shows +17% total acceleration but tariff pull-forward is a confounding factor. The AI upgrade cycle is call-stated, not filed. (Apple FY2025 10-K; Apple Q2 FY2026 10-Q — PRIMA
EVIDENCE: filed · scores from the engine · I5/I6 carry a score with no underlying instrument — stated where drilled.
AWAITING LIVE SERIES · wires from /api/prices · held state stands if the wire fails
SEC XBRL companyfacts · every row carries its accession · 8 quarters · refreshes off the 8-K 2.02 earnings event
2026-07-30 · ·
Watching: before the print.
Score 22.0/100 from the engine.
Discretionary (no-plan) selling on the recent record: $87,144,419.
| Owner | Role | Date | Type | Value | Basis |
|---|---|---|---|---|---|
| Borders Ben | Principal Accounting O | 2026-06-16 | Sale | $34,236 | discretionary |
| Newstead Jennifer | SVP, GC and Secretary | 2026-06-15 | Option exercise | — | — |
| Newstead Jennifer | SVP, GC and Secretary | 2026-06-15 | Tax withholding | $4,813,268 | — |
| Borders Ben | Principal Accounting O | 2026-06-15 | Option exercise | — | — |
| Borders Ben | Principal Accounting O | 2026-06-15 | Tax withholding | $36,756 | — |
| Levinson Arthur D | Insider | 2026-05-27 | Sale | $15,551,000 | discretionary |
| Levinson Arthur D | Insider | 2026-05-27 | Gift | — | — |
| Borders Ben | Principal Accounting O | 2026-05-08 | Sale | $369,460 | discretionary |
| Levinson Arthur D | Insider | 2026-05-06 | Sale | $42,550,898 | discretionary |
| Levinson Arthur D | Insider | 2026-05-06 | Sale | $28,638,824 | discretionary |
| Levinson Arthur D | Insider | 2026-05-06 | Gift | — | — |
EDGAR Form 4, parsed structured · last 11 txns · asof 2026-07-20 · refreshes off the Form-4 event class
| Announced cuts (2026) | 0 |
| Date | 2026 |
| Confidence | high |
| Attribution | NOT-AI |
| Driver | riding-the-boom |
| Source | no broad layoffs reported |
No broad cuts — L2 completeness cell; not a cut-to-fund-compute case.
Video. no verified channel in the map yet — our gap, stated (the map grows by verification, never by guess).
≤5 news · ≤2 video · rolling window, never an archive · ranked from the 2026-08-08 sweep · refreshes Saturday
Notes. held open — The desk has not ruled this slot.
Company data is compiled from primary sources — SEC filings, the fragility engine, and our own roster. Narrative summaries are AI-assisted; every figure comes from the record, not the model.