Apple is reportedly preparing to launch a new device rental program called Apple upgrademarking one of the company’s biggest changes to how it sells devices. The service is expected to be launched in July 28will allow customers to lease eligible iPhones, iPads, Macs, and Apple Watches through monthly payments instead of purchasing them outright. The program is said to be powered by Klarna and will only require a soft credit check.
The program is designed to work like a car rental or subscription. Customers will have the flexibility to pay off the device early, upgrade to a newer model before the lease expires, keep the device after the term expires, or simply return it when it expires. iPhone and Apple Watch leases are expected to last for 24 monthswhile Mac leases extend to 36 months. Some lower-priced products — including the Apple Watch SE, entry-level iPad, iPhone 16 and MacBook Neo — will reportedly not be eligible.
Unlike Apple’s existing iPhone Upgrade Program, the new leasing plan AppleCare+ will not be included. Bloomberg reports that Apple plans to halt new enrollments in its current iPhone upgrade program as the new leasing model rolls out. The initiative comes as Apple has raised prices for some Macs and iPads, and is expected to offer higher-priced iPhones this fall, giving consumers the option of a lower monthly payment while potentially encouraging more frequent hardware upgrades.
Apple shares continue their impressive run into 2026, trading at $329.00, up $2.34 (0.71%) on the day. At the current price, the stock is almost up 21% since the beginning of the yearMaking it one of the strongest performers among the “Magnificent Seven” technology stocks this year. The rise was driven by growing optimism surrounding Apple’s AI strategy that moves away from heavy capital spending, expectations for a strong iPhone upgrade cycle, recent product price increases, and news about the company’s upcoming hardware leasing program, which could help drive more frequent hardware upgrades and recurring revenue.
Investors are now turning their attention to Apple’s earnings report later this month (July 30), looking for confirmation that the company’s AI initiatives, premium pricing strategy, and expanding hardware ecosystem can continue to justify the stock’s record rise. Current consensus estimates call for Earnings per share $1.89from $1.57 A year ago – an increase of about 20.4%. Revenue is expected to reach $108.85 billion,compared to $94.04 billion In the same quarter of last year, which represents Growth of approximately 15.8%. Results that meet or exceed those expectations are likely to boost investor confidence in Apple’s ability to maintain its strong earnings momentum despite the higher valuation.
It is worth noting that
It should be noted that the earnings will be the last for Apple CEO Tim Cook, who will step down from his position as CEO of Apple in… September 1, 2026.
Below are the main details of the leadership transition:
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New CEO: John Ternuswho currently serves as senior vice president of hardware engineering, will serve as Apple’s next CEO.
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Cook’s next role: Cook won’t leave the company entirely; will move to chief executive officer From Apple’s board of directors. In this role, he will focus on the strategic oversight and management of key diplomatic/political relationships around the world.
Technically, Apple has seen a healthy correction of approx 14% from the June highs before finding strong support and reversing higher from the highs June 25 a little. He experienced this decline 100 day moving average close $276 (lower blue dashed line on the chart), as buyers stepped in and stopped the selling pressure.
The recovery is starting to gain momentum July 1When the stock regained its position 100 hour moving average. Buyers then successfully defended this moving average during a short period of consolidation, laying the foundation for the next move higher.
The bullish bias is further strengthened July 2When the price broke above 200 hour moving average close $300. This breakout strongly shifted the technical advantage in favor of buyers and sparked a steady rally.
Since the low on June 25, Apple has been almost up 22.3%reaching a record level $334.99 On Friday before we see some modest profit taking. Today’s decline found willing buyers $322.22With the stock rebounding after news of Apple’s new device leasing program.
From here, the main technical level to watch is The high of the 100 hourly moving averagecurrently in $315.76. This moving average is being reinforced by a set of swing highs from June, creating an important support area in… $316 – $317 region.
As long as the price remains above that support area, the technical bias remains firmly in favor of buyers. On the upside, the next target is the record high set last week at $334.99. A move above this level would confirm a new breakout and increase the possibility of a rise again.
