Apple is reportedly preparing to launch a new hardware leasing program called Apple Upgrade, marking one of the company’s biggest changes to how it sells devices. The service, expected to launch on July 28, would allow customers to lease eligible iPhones, iPads, Macs, and Apple Watches through monthly payments rather than purchasing them outright. The program is reportedly being backed by Klarna and will require only a soft credit check.

The program is designed to work much like a car lease or subscription. Customers will have the flexibility to pay off the device early, upgrade to a newer model before the lease ends, keep the device after completing the term, or simply return it at expiration. iPhone and Apple Watch leases are expected to run for 24 months, while Mac leases would extend to 36 months. Some lower-priced products—including the Apple Watch SE, entry-level iPad, iPhone 16, and MacBook Neo—reportedly will not be eligible.

Unlike Apple’s current iPhone Upgrade Program, the new leasing plan will not include AppleCare+. Bloomberg reports that Apple plans to discontinue new enrollments in the existing iPhone Upgrade Program as the new leasing model rolls out. The initiative comes as Apple has raised prices on some Macs and iPads and is expected to introduce higher-priced iPhones this fall, giving consumers a lower monthly payment option while potentially encouraging more frequent hardware upgrades.

Apple shares are continuing their impressive 2026 run, trading at $329.00, up $2.34 (0.71%) on the day. At the current price, the stock is up roughly 21% year-to-date, making it one of the strongest performers among the “Magnificent Seven” technology stocks this year. The rally has been fueled by growing optimism surrounding Apple’s AI strategy which is staying away from huge capital spends, expectations for a strong iPhone upgrade cycle, recent product price increases, and news of the company’s upcoming hardware leasing program, which could help drive more frequent device 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-setting rally. Current consensus estimates call for earnings per share of $1.89, up from $1.57 a year ago—an increase of about 20.4%. Revenue is expected to reach $108.85 billion, compared with $94.04 billion in the same quarter last year, representing growth of approximately 15.8%. Results that meet or exceed those expectations would likely reinforce investor confidence that Apple can sustain its strong earnings momentum despite a higher valuation.

Of note is it

Of note is the earnings willl be the last for Apple CEO Tim Cook who is stepping down as Apple’s CEO on September 1, 2026.

Here are the key details of the leadership transition:

New CEO: John Ternus, currently Senior Vice President of Hardware Engineering, will take over as Apple’s next Chief Executive Officer.
Cook’s Next Role: Cook is not leaving the company entirely; he will transition to Executive Chairman of Apple’s Board of Directors. In this role, he will focus on strategic oversight and managing key diplomatic/policy relationships around the world.

From a technical perspective, Apple experienced a healthy correction of nearly 14% from its June highs before finding solid support and reversing higher from its June 25 low. That decline tested the 100-day moving average near $276 (lower dashed blue line on the chart), where buyers stepped in and halted the selling pressure.

The recovery began to gain traction on July 1, when the stock reclaimed its 100-hour moving average. Buyers then successfully defended that moving average during a brief period of consolidation, laying the foundation for the next move higher.

The bullish bias strengthened further on July 2, when the price broke above the 200-hour moving average near $300. That breakout shifted the technical advantage firmly back in favor of the buyers and sparked a steady stair-step rally.

Since the June 25 low, Apple has climbed roughly 22.3%, reaching a record high of $334.99 on Friday before seeing some modest profit-taking. Today’s decline found willing buyers at $322.22, with the stock rebounding after news of Apple’s new hardware leasing program.

From here, the key technical level to watch is the rising 100-hour moving average, currently at $315.76. That moving average is reinforced by a cluster of swing highs from June, creating an important support zone in the $316-$317 area.

As long as the price remains above that support region, the technical bias stays firmly in favor of the buyers. On the topside, the next target is last week’s record high at $334.99. A move above that level would confirm a fresh breakout and increase the potential for another leg higher.