Apple

• A blockchain token designed to track the price of Apple Inc. (NASDAQ: AAPL).

• It is not a share. Holding the token does not confer ownership of the company, voting rights, or a direct claim against it.

• It offers fractional, round-the-clock price exposure without opening a foreign brokerage account. For the full process, see our guide on how to buy Apple stock in India.

• Founded: 1976

• Headquarters: Cupertino, California, United States

• CEO: John Ternus (since September 2026); Tim Cook is executive chairman

• Listed on: Nasdaq (AAPL)

• Sector: Consumer technology

• Apple designs and sells consumer hardware, with the iPhone accounting for the largest share of revenue.

• Its services segment, covering the App Store, iCloud, advertising and subscriptions, carries higher margins than hardware and has grown into a substantial second pillar.

• The company controls its own silicon design, which gives it unusually tight integration between chips, devices and software.

• iPhone is the largest product line, at roughly half of total revenue.

• Services, covering the App Store, advertising, iCloud, AppleCare, payments and subscriptions, is the second-largest line and the highest-margin one.

• Mac, iPad and the wearables, home and accessories category make up the rest of hardware sales.

• Revenue is reported by region, with the Americas largest, followed by Europe and Greater China.

• You get price exposure to the underlying instrument.

• You do not get shareholder voting rights.

• Dividend or distribution treatment depends on the issuer's structure and is often not passed through.

• You take on issuer and custodian risk in addition to the price risk of the underlying.

Pros:

• An installed base of more than two billion active devices underpins recurring services revenue.

• It has a strong balance sheet and has returned large amounts of cash through buybacks and dividends.

• Control of its own chip design gives tight integration across devices.

Cons:

• Results remain heavily dependent on iPhone upgrade cycles.

• App Store fees and default-search payments face regulatory and antitrust challenges in several jurisdictions.

• China is both a major market and a key manufacturing base, which exposes it to trade and political risk.

• Counterparty risk: if the issuer or custodian fails, the backing may not be recoverable.

• Tracking risk: the token price can diverge from the underlying, particularly outside US market hours when the underlying does not trade.

• Liquidity risk: on-chain liquidity is thinner than the underlying market, so spreads can widen sharply.

• Regulatory risk: India does not yet have a settled framework for tokenised equities, and tax treatment remains unclear.

• Price risk specific to the underlying instrument.