Wedgewood Partners’ Q3 2026 letter reports its Composite returned 2.5% in the quarter, ahead of the S&P 500 (2.3%) and Russell 1000 Growth (0.9%) but behind the Russell 1000 Value (2.6%). Rising Treasury yields pressured rate-sensitive stocks, while AI resilience lifted the NASDAQ 100 to record highs. The firm highlights Apple (AAPL), which rallied in the quarter with 16% revenue growth and adjusted EPS growth in the high teens. Wedgewood argues Apple’s R&D spending of over $40 billion over 12 months, comparable to major chip developers combined, supports a long-term AI edge from deep hardware-software integration that the market underestimates. Apple closed at $343.46 on October 16, 2026, up 26.34% year to date.
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Related tickers and likely impact
AAPL
▲ Likely positiveApple Inc.
Relevance: low
| Market | US stocks |
|---|---|
| Sector | Information Technology |
| Industry | Technology Hardware, Storage & Peripherals |
| Market cap | $5.0T |
| Close on 10/16/2026 | 343.47 |
| Change that session | +0.43% |
Impact is scored by AI from the headline and may be wrong. It is not investment advice.
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