AAPL
Apple Inc.
AAPL has slightly lower modeled downside risk, despite its lower overall score.
ON
ON Semiconductor Corporation
ON has the edge over AAPL overall, supported by stronger modeled upside and stronger fundamentals.
AAPL Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Strong | |
| Strong | |
| Strong |
AAPL's revenue, profitability, cash flow and balance sheet are all currently healthy.
ON Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Strong | |
| Strong | |
| Strong |
ON's revenue, profitability, cash flow and balance sheet are all currently healthy.
AAPL PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Cheap | 26x | $230 | -35% |
| Fair | 31x | $279 | -21% |
| Expensive | 37x | $328 | -7.5% |
| Forward | 38x | $355 | — |
| Current | 40x | $355 | — |
Historical ranges are pointers, not guarantees.
AAPL has the edge over ON in the historical PE scenario, which offers more potential upside but is not a forecast.
ON PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Cheap | 16x | $26.87 | -64% |
| Forward | 17x | $73.73 | — |
| Fair | 28x | $47.27 | -36% |
| Current | 44x | $73.73 | — |
| Expensive | 68x | $113 | +53% |
Historical ranges are pointers, not guarantees.
ON's PE is in its expensive range at 44x. If earnings grow as analysts expect, today's price would be 17x next year's earnings, in its cheap range.
AAPL Forward outlook
| Metric | Outlook |
|---|---|
| Stable | |
| Growth | |
| Growth | |
| Weakening | |
| Moderate | |
| Moderate |
Analysts expect earnings and revenue growth for AAPL, but weaker profitability.
ON Forward outlook
| Metric | Outlook |
|---|---|
| Strongly improving | |
| Strong growth | |
| Growth | |
| Strongly improving | |
| Moderate | |
| Moderate |
ON has the edge over AAPL on the outlook, with more favorable valuation and profitability expectations.
AAPL Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $9.28 | +3.3% |
| Q3 2026 | $8.98 | +20% |
| Q2 2026 | $8.71 | +32% |
| Q1 2026 | $8.26 | +29% |
| Q4 2025 | $7.90 | +25% |
| Q3 2025 | $7.46 | +23% |
| Q2 2025 | $6.59 | +0.2% |
| Q1 2025 | $6.42 | -0.3% |
| Q4 2024 | $6.30 | -2% |
AAPL has the edge over ON on earnings, with more consistent year-over-year improvement.
ON Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $4.43 | +165% |
| Q3 2026 | $1.67 | +117% |
| Q2 2026 | $1.51 | +41% |
| Q1 2026 | $1.36 | -5.6% |
| Q4 2025 | $0.29 | -92% |
| Q3 2025 | $0.77 | -81% |
| Q2 2025 | $1.07 | -76% |
| Q1 2025 | $1.44 | -71% |
| Q4 2024 | $3.63 | -26% |
ON's earnings per share have fallen from their peak: $1.67 over the past year, against $4.96 in late 2023.
AAPL Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $114.5B | +12% |
| Q2 2026 | $109.4B | +16% |
| Q1 2026 | $111.2B | +17% |
| Q4 2025 | $143.8B | +16% |
| Q3 2025 | $102.5B | +7.9% |
| Q2 2025 | $94B | +9.6% |
| Q1 2025 | $95.4B | +5.1% |
| Q4 2024 | $124.3B | +4% |
AAPL has the edge over ON on sales, with more consistent year-over-year improvement.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 31% | -0.5 points |
| Q2 2026 | 33% | +2.6 points |
| Q1 2026 | 32% | +1.3 points |
| Q4 2025 | 35% | +0.9 points |
| Q3 2025 | 32% | +0.5 points |
| Q2 2025 | 30% | +0.4 points |
| Q1 2025 | 31% | +0.3 points |
| Q4 2024 | 34% | +0.7 points |
AAPL has the edge over ON on profitability, with a higher operating margin.
ON Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $1.7B | +11% |
| Q2 2026 | $1.6B | +9.2% |
| Q1 2026 | $1.5B | +4.7% |
| Q4 2025 | $1.5B | -11% |
| Q3 2025 | $1.6B | -12% |
| Q2 2025 | $1.5B | -15% |
| Q1 2025 | $1.4B | -22% |
| Q4 2024 | $1.7B | -15% |
ON's revenue is recovering but still below its 2022 peak: $1.7B last quarter, up 11% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 22% | +4.9 points |
| Q2 2026 | 16% | +3 points |
| Q1 2026 | -3.5% | +36 points |
| Q4 2025 | 13% | -11 points |
| Q3 2025 | 17% | -8.2 points |
| Q2 2025 | 13% | -9.2 points |
| Q1 2025 | -40% | -68 points |
| Q4 2024 | 24% | -6.6 points |
ON's operating margin was 22% last quarter, up 4.9 points from the same quarter a year ago.
AAPL Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $25.9B | -2.4% |
| Q2 2026 | $31.9B | +31% |
| Q1 2026 | $26.7B | +28% |
| Q4 2025 | $51.6B | +91% |
| Q3 2025 | $26.5B | +11% |
| Q2 2025 | $24.4B | -8.6% |
| Q1 2025 | $20.9B | +0.9% |
| Q4 2024 | $27B | -28% |
AAPL's free cash flow has been positive every quarter for seven years: $136B over the past year, up 38% from the year before.
ON Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $488.6M | +31% |
| Q2 2026 | $425.4M | +301% |
| Q1 2026 | $217.2M | -52% |
| Q4 2025 | $485.4M | +12% |
| Q3 2025 | $372.4M | +27% |
| Q2 2025 | $106.1M | -49% |
| Q1 2025 | $454.7M | +65% |
| Q4 2024 | $434.8M | +97% |
ON has the edge over AAPL on cash flow, with more consistent year-over-year improvement.
AAPL Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | 0% | +5.6M shares |
| 1 year | -1.9% | -284M shares |
| 3 years | -6.9% | -1.1B shares |
| 5 years | -13% | -2.1B shares |
| Available history | -17% | -3.1B shares |
AAPL has 14.7B diluted shares, down 1.9% from a year ago, with $86.4B in buybacks over the past year.
| Quarter | Spent |
|---|---|
| Q3 2026 | $24.3B |
| Q2 2026 | $25.1B |
| Q1 2026 | $12.3B |
| Q4 2025 | $24.7B |
| Q3 2025 | $20.1B |
| Q2 2025 | $21.1B |
| Q1 2025 | $25.9B |
| Q4 2024 | $23.6B |
AAPL spent $86.4B buying back its own shares over the past year, down 4.8% from the year before.
ON Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -1.8% | -7.1M shares |
| 1 year | -2.6% | -10.7M shares |
| 3 years | -12% | -53.4M shares |
| 5 years | -9.8% | -43.4M shares |
| Available history | -4.5% | -18.7M shares |
ON has the edge over AAPL on shareholder dilution, with a more favorable share count trend.
| Quarter | Spent |
|---|---|
| Q3 2026 | $19.9M |
| Q2 2026 | $344.8M |
| Q1 2026 | $345.7M |
| Q4 2025 | $450.2M |
| Q3 2025 | $325M |
| Q2 2025 | $302.3M |
| Q1 2025 | $300.1M |
| Q4 2024 | $204.1M |
ON spent $1.2B buying back its own shares over the past year, up 2.6% from the year before.
AAPL Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 0.3x | Very low |
| Q2 2026 | 0.3x | Very low |
| Q1 2026 | 0.2x | Very low |
| Q4 2025 | 0.3x | Very low |
| Q3 2025 | 0.4x | Very low |
| Q2 2025 | 0.5x | Very low |
| Q1 2025 | 0.5x | Very low |
| Q4 2024 | 0.5x | Very low |
AAPL's net debt is less than a year of its operating earnings (EBITDA).
ON Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 0.2x | Very low |
| Q2 2026 | 0.7x | Very low |
| Q1 2026 | 0.7x | Very low |
| Q4 2025 | 1.1x | Healthy |
| Q3 2025 | 1.0x | Very low |
| Q2 2025 | 0.7x | Very low |
| Q1 2025 | 0.4x | Very low |
| Q4 2024 | 0.3x | Very low |
ON has the edge over AAPL on leverage, with a lower net debt burden relative to earnings.
AAPL Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 68.1 | Neutral |
| Stochastic | 85.0 | Overbought |
AAPL's weekly RSI is 68 (neutral) and its Stochastic is 85 (overbought).
ON Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 46.6 | Neutral |
| Stochastic | 25.8 | Neutral |
ON's weekly RSI is 47 (neutral) and its Stochastic is 26 (neutral).
AAPL PE vs Technology Sector
| Metric | AAPL | Sector median | Relative |
|---|---|---|---|
| PE | 40x | 28x | 42% above |
| PE % | 96 | 35 | 61 pts above |
AAPL has the edge over ON on valuation relative to its sector.
ON PE vs Technology Sector
| Metric | ON | Sector median | Relative |
|---|---|---|---|
| PE | 44x | 28x | 58% above |
| PE % | 67 | 35 | 32 pts above |
ON is trading at 44x earnings, a 58% premium to the Technology sector's median of 28x.
AAPL Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $343.1 | 3.4% above |
| 20 week MA | $329.0 | 7.9% above |
| 50 week MA | $295.6 | 20% above |
| 100 week MA | $262.4 | 35% above |
| 200 week MA | $226.3 | 57% above |
AAPL has the edge over ON on trend strength, trading above more of its moving averages.
ON Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $74.1 | 0.5% below |
| 20 week MA | $78.3 | 5.9% below |
| 50 week MA | $78.2 | 5.7% below |
| 100 week MA | $63.9 | 15% above |
| 200 week MA | $71.0 | 3.8% above |
ON has slipped below its 8-, 20- and 50-week averages, though it's still 3.8% above its 200-week average.
AAPL Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $72.5 | $132.0 | +82% |
| 2021 | $132.0 | $176.3 | +34% |
| 2022 | $176.3 | $131.9 | -25% |
| 2023 | $131.9 | $192.5 | +46% |
| 2024 | $192.5 | $255.6 | +33% |
| 2025 | $255.6 | $273.4 | +7% |
| 2026 YTD | $273.4 | $354.9 | +30% |
AAPL has finished higher in five of the last six years. It's up 30% so far in 2026.
ON Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $24.5 | $32.0 | +31% |
| 2021 | $32.0 | $66.8 | +109% |
| 2022 | $66.8 | $62.4 | -6.5% |
| 2023 | $62.4 | $83.5 | +34% |
| 2024 | $83.5 | $66.0 | -21% |
| 2025 | $66.0 | $54.9 | -17% |
| 2026 YTD | $54.9 | $73.7 | +34% |
ON has the edge over AAPL on returns for 2026, with the stronger performance.