Apple Partners With Klarna to Lease iPhones; Stock Hits $5 Trillion Market Cap
Apple (AAPL) stock edged higher on July 28, 2026, after announcing a flexible hardware-leasing program called Apple Upgrade in partnership with Klarna. The program allows U.S. customers to lease iPhones, iPads, Macs, or Apple Watches starting at $17.99 per month, lowering upfront costs and potentially accelerating upgrade cycles while generating recurring revenue. Apple became the second company after Nvidia to reach a $5 trillion market cap, with shares around $340. However, Jefferies analysts maintained a Hold rating with a $309 price target, citing expected gross margin declines despite price hikes. The consensus rating remains Moderate Buy, but the mean price target of $321 suggests over 5% downside from current levels. Apple's Q3 earnings are scheduled for July 30.
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