Why did AAPL move on Jul 14, 2026?

Apple's stock rose in early trading following market data from IDC showing that Apple and Huawei were the only two smartphone vendors to post shipment growth in the second quarter, with Apple's shipments increasing by 24.4% [1]. This positive momentum was further highlighted by reports that the two companies dominated China's smartphone market during the period [2]. Later in the day, the stock faced some downward pressure after KeyBanc downgraded Apple to underweight from sector weight [13], though it ultimately recovered to close slightly higher.