Apple (NASDAQ:AAPL) touched a $5 trillion market cap last week before its fiscal third quarter report landed on July 30. iPhone revenue hit a June quarter record of $54.3 billion, up 22%, still powered by the iPhone 17 lineup. September quarter revenue growth is guided below what Wall Street wants and management’s commentary regarding worsening supply constraints is something investors should really consider. Apple’s revenue growth has swung wildly since 2012, including several flat or negative years, so this year’s double digit pace is not guaranteed to continue. Apple vs AlphabetAlphabet (NASDAQ:GOOG) makes a natural comparison, since it is both a rival in AI and the company is now supplying Apple’s rented Gemini capacity.