50 candles for Apple

Like your uncle who just bought a speedboat despite living nowhere near water, Apple is officially in a midlife crisis.

The iconic tech company turned 50 today. Over the last half-century, the company has accrued a few milestones:

• It became the world’s most valuable company in 2011, surpassing Exxon Mobil—though it lost the crown almost exactly one year ago.
• The company’s iconic products have quite literally transformed society as we know it. The first Macintosh computer was rolled out in 1984, the iPod in 2001, and the iPhone in 2007.
• Since first going public 46 years ago, its shares have returned over 257,000%.

How do you like them Apples?

Even as it celebrates five decades as one of the most influential companies in the world, Apple is facing more challenges than ever before.

Its stock has fallen 5.97% this year, putting it on track to underperform the S&P 500 for the second year in a row. While Apple still dominates the smartphone market, it’s been a step behind rivals like Microsoft and Alphabet when it comes to generative AI. It abandoned its ambitious Apple Car venture, and its Apple Intelligence rollout failed to wow consumers or investors. Aside from the iPhone 17, the company hasn’t released anything game-changing lately.

What comes next: According to Wedbush analyst Dan Ives, 2026 will be a “significant product launch year” for Apple.

“We note that the company is likely in the later stages of developing its foldable phone, iPhone Fold, based on supply chain checks, which is rumored to launch later this year alongside the iPhone 18 launch in September, adding another catalyst to its hardware revenue,” Ives wrote in a note yesterday. He has an outperform rating on Apple, and his 12-month price target is $350, 37% higher than shares trade today.

And of course, the big question is whether Apple can become the hardware champion of the AI age. Earlier this year, Bloomberg reported that Apple is planning to roll out three AI wearables, including smart glasses, a pendant, and Airpods with…cameras?

Only time will tell if Apple makes it to the iPhone 50.—LB