Apple (AAPL) Stock Climbs 22% in 2026 Amid Strong Earnings

Apple (AAPL) shares have increased 22% in 2026 as of July 20, trading at record levels. The company's price-to-earnings ratio stands at 39.5, near an 18-year high, indicating strong investor enthusiasm. In Q2 2026, Apple reported a year-over-year revenue growth of 16.6% and a 21.8% increase in diluted earnings per share. With a capital expenditure of $4.3 billion in the first half of fiscal 2026, Apple's free cash flow remains robust, allowing for significant shareholder returns. This performance may attract investor attention despite the valuation risks.