A report described tension between U.S. policy priorities of lowering consumer prices and boosting domestic chip production, noting Apple and Micron are both affected by the debate over Chinese chips.
Read →Issued 2026-09-25 at $341.07 · now $341.07 (2026-09-25, +0.0% since)
Based on its own history, a month from the 2026-09-25 close, AAPL has typically landed between $303.13 and $384.06 — a range of −11.1% to +12.6% from the issuance price $341.07.
- Actual close
- Typical path (median)
- Middle 50% of outcomes
- 90% range
4,692 overlapping 1 month windows · 2008-01-02 – 2026-08-26 · basis climatology · forecast (batch). Base rate up 53.7% (90% CI 51.5–55.9%, ≈1,391 obs). Not a call on this stock — we have no evidence its odds differ.
The cone is anchored at the 2026-09-25 issuance close ($341.07) — the price the forecast resolves against on 2026-10-26, not the latest close. The drawn path shape is illustrative (bands widen with √t); every labeled number is real — the anchor, the scored batch p90/IQR endpoints, and the typical move.
Where AAPL has typically landed a month from the 2026-09-25 close of $341.07 — the range is history, not a prediction.
- now $341.07 (+0.0%)
- typicalThe typical outcome — half of similar past periods did better and half did worse (not an average, so a few wild periods don't skew it). $347.21 (+1.8%)
- middle 50%The central range of outcomes — half of similar past periods landed inside it, a quarter finished above, a quarter below. $328.03–$366.39
- 90% rangeA nine-in-ten range — in about nine of every ten similar past periods the outcome stayed within these bounds. $303.13–$384.06
| Start | Return | Max drop | Max rise |
|---|---|---|---|
| 3 worst | |||
| 2008-09-08 | −43.6% | −43.6% | +0.0% |
| 2008-09-10 | −41.4% | −41.4% | +0.7% |
| 2008-09-09 | −40.7% | −41.2% | +0.7% |
| 3 best | |||
| 2009-03-06 | +38.7% | −2.7% | +38.7% |
| 2009-03-09 | +38.6% | +0.0% | +42.6% |
| 2020-07-24 | +36.1% | +0.0% | +36.1% |
4,692 overlapping windows · 2008-01-02 – 2026-09-25 · not cherry-picked
Fundamentals iCompany financials — revenue, earnings, margins — from the newest filings shown, each carried with its date.iAs-reported figures and standard ratios from FMP, as of 2026-07-25. Revenue, net income and free cash flow can toggle annual or quarterly; margin, ROE and debt-to-equity are shown by fiscal year. We report the figures and the trend — no target price and no over/under-valued call. More on /methodology.
Fair value — three views iIndependent reference estimates of worth (a cash-flow model, peer multiples, analyst targets), shown as separate views — not a single verdict.
iThree independent estimates of per-share value, each by a different method and each with its own assumptions: a discounted-cash-flow intrinsic value, a peer comparable (the median trailing P/E of 80 sector peers times this company's trailing EPS), and the analyst price-target consensus. They routinely disagree — that gap is the point. We show the three marks and the current price; we do not blend them into a single number or call the stock over- or under-valued. Marks as of the latest capture. More on /methodology.- DCF (intrinsic)$145.49
- Peer P/E × EPS · sector median 34.2× · n=80$282.88
- Analyst target · range $253.00–$400.00$330.00
- Current price · last close 2026-09-25$341.07
Seasonality · by month iHow this security has tended to do in each calendar month historically — a frequency, never a prediction.
iFor each calendar month, the share of years this security closed higher than the month before, and the average month-over-month return, over ~19 years of its own price history. Cells are shaded by average return. This is historical frequency, not a prediction — no month is a signal.Up-frequency and average month-over-month return · historical frequency, not a prediction
Reported insider & political trades
Every Form 4 the people closest to this company have filed with the SEC — plotted against the share price, aggregated by month, and shown with the gap between when each trade happened and when it was disclosed. A public record, not advice.
| Date | Person | Role | Action | Shares @ price | Value | Ownership Δ | vs S&P 1m | vs S&P 6m | Owned after | Filing |
|---|---|---|---|---|---|---|---|---|---|---|
| 2026-09-22 | Newstead Jennifer | director | Sale | 2,399 @ $340.06 | $816K | −5.1% of holding | not yet — horizon still open | not yet — horizon still open | 44,391 | Form 4 · filed 2 days after the trade |
| 2026-09-15 | Newstead Jennifer | director | Sale | 1,438 @ $330.19 | $475K | −4.2% of holding | not yet — horizon still open | not yet — horizon still open | 32,914 | Form 4 · filed 2 days after the trade |
| 2026-09-08 | Newstead Jennifer | director | Sale | 1,438 @ $317.23 | $456K | −4.0% of holding | not yet — horizon still open | not yet — horizon still open | 34,352 | Form 4 · filed 2 days after the trade |
| 2026-09-01 | Newstead Jennifer | director | Sale | 1,439 @ $317.01 | $456K | −3.9% of holding | not yet — horizon still open | not yet — horizon still open | 35,790 | Form 4 · filed 2 days after the trade |
| 2026-08-25 | Newstead Jennifer | director | Sale | 1,439 @ $310.95 | $447K | −3.7% of holding | +8.2% | not yet — horizon still open | 37,229 | Form 4 · filed 2 days after the trade |
| 2026-08-18 | Newstead Jennifer | director | Sale | 1,439 @ $307.49 | $442K | −3.6% of holding | +9.6% | not yet — horizon still open | 38,668 | Form 4 · filed 2 days after the trade |
| 2026-08-11 | Newstead Jennifer | director | Sale | 1,439 @ $307.75 | $443K | −3.5% of holding | +8.8% | not yet — horizon still open | 40,107 | Form 4 · filed 2 days after the trade |
| 2026-06-16 | Borders Ben | officer | Sale | 116 @ $295.14 | $34K | −0.3% of holding | +12.2% | not yet — horizon still open | 38,713 | Form 4 · filed 1 day after the trade |
| 2026-05-27 | LEVINSON ARTHUR D | director | Sale | 50,000 @ $311.02 | $15.6M | −1.3% of holding | −6.1% | not yet — horizon still open | 3,764,576 | Form 4 · filed 2 days after the trade |
| 2026-05-08 | Borders Ben | officer | Sale | 1,274 @ $290.00 | $369K | −3.2% of holding | −0.8% | not yet — horizon still open | 38,713 | Form 4 · filed 4 days after the trade |
| 2026-05-06 | LEVINSON ARTHUR D | director | Sale | 149,527 @ $284.57 | $42.6M | −3.7% of holding | +6.5% | not yet — horizon still open | 3,920,049 | Form 4 · filed 2 days after the trade |
| 2026-05-06 | LEVINSON ARTHUR D | director | Sale | 100,473 @ $285.04 | $28.6M | −2.6% of holding | +6.5% | not yet — horizon still open | 3,819,576 | Form 4 · filed 2 days after the trade |
| 2026-04-23 | Parekh Kevan | officer | Sale | 1,534 @ $275.00 | $422K | −10.3% of holding | +7.8% | not yet — horizon still open | 13,366 | Form 4 · filed 4 days after the trade |
| 2026-04-02 | COOK TIMOTHY D | director | Sale | 28,188 @ $255.17 | $7.2M | −0.9% of holding | −1.3% | not yet — horizon still open | 3,284,984 | Form 4 · filed 1 day after the trade |
| 2026-04-02 | O'BRIEN DEIRDRE | officer | Sale | 20,338 @ $255.12 | $5.2M | −12.2% of holding | −1.3% | not yet — horizon still open | 146,474 | Form 4 · filed 1 day after the trade |
| 2026-04-02 | COOK TIMOTHY D | director | Sale | 16,083 @ $254.37 | $4.1M | −0.5% of holding | −1.3% | not yet — horizon still open | 3,313,172 | Form 4 · filed 1 day after the trade |
| 2026-04-02 | O'BRIEN DEIRDRE | officer | Sale | 9,664 @ $255.82 | $2.5M | −6.6% of holding | −1.3% | not yet — horizon still open | 136,810 | Form 4 · filed 1 day after the trade |
| 2026-04-02 | COOK TIMOTHY D | director | Sale | 9,147 @ $252.11 | $2.3M | −0.3% of holding | −1.3% | not yet — horizon still open | 3,331,133 | Form 4 · filed 1 day after the trade |
| 2026-04-02 | COOK TIMOTHY D | director | Sale | 5,087 @ $251.25 | $1.3M | −0.2% of holding | −1.3% | not yet — horizon still open | 3,340,280 | Form 4 · filed 1 day after the trade |
| 2026-04-02 | COOK TIMOTHY D | director | Sale | 4,566 @ $256.00 | $1.2M | −0.1% of holding | −1.3% | not yet — horizon still open | 3,280,418 | Form 4 · filed 1 day after the trade |
| 2026-04-02 | COOK TIMOTHY D | director | Sale | 1,878 @ $253.13 | $475K | −0.1% of holding | −1.3% | not yet — horizon still open | 3,329,255 | Form 4 · filed 1 day after the trade |
| 2025-11-07 | KONDO CHRIS | officer | Sale | 3,752 @ $271.23 | $1.0M | −19.9% of holding | +1.5% | −0.5% | 15,098 | Form 4 · filed 5 days after the trade |
| 2025-10-16 | Parekh Kevan | officer | Sale | 1,665 @ $247.04 | $411K | −13.4% of holding | +8.5% | +2.7% | 10,799 | Form 4 · filed 1 day after the trade |
| 2025-10-16 | Parekh Kevan | officer | Sale | 1,534 @ $247.82 | $380K | −14.2% of holding | +8.5% | +2.7% | 9,265 | Form 4 · filed 1 day after the trade |
| 2025-10-16 | Parekh Kevan | officer | Sale | 500 @ $248.73 | $124K | −5.4% of holding | +8.5% | +2.7% | 8,765 | Form 4 · filed 1 day after the trade |
| 2025-10-16 | Parekh Kevan | officer | Sale | 500 @ $245.89 | $123K | −3.9% of holding | +8.5% | +2.7% | 12,464 | Form 4 · filed 1 day after the trade |
| 2025-10-02 | COOK TIMOTHY D | director | Sale | 59,751 @ $257.57 | $15.4M | −1.8% of holding | +3.2% | +1.8% | 3,280,295 | Form 4 · filed 1 day after the trade |
| 2025-10-02 | O'BRIEN DEIRDRE | officer | Sale | 41,273 @ $257.36 | $10.6M | −23.0% of holding | +3.2% | +1.8% | 138,427 | Form 4 · filed 1 day after the trade |
| 2025-10-02 | COOK TIMOTHY D | director | Sale | 39,293 @ $256.62 | $10.1M | −1.2% of holding | +3.2% | +1.8% | 3,340,046 | Form 4 · filed 1 day after the trade |
| 2025-10-02 | COOK TIMOTHY D | director | Sale | 22,524 @ $255.86 | $5.8M | −0.7% of holding | +3.2% | +1.8% | 3,379,339 | Form 4 · filed 1 day after the trade |
| 2025-10-02 | Adams Katherine L. | officer | Sale | 21,551 @ $257.54 | $5.6M | −10.7% of holding | +3.2% | +1.8% | 179,158 | Form 4 · filed 1 day after the trade |
| 2025-10-02 | Adams Katherine L. | officer | Sale | 13,974 @ $256.60 | $3.6M | −6.5% of holding | +3.2% | +1.8% | 200,709 | Form 4 · filed 1 day after the trade |
| 2025-10-02 | COOK TIMOTHY D | director | Sale | 8,395 @ $254.83 | $2.1M | −0.2% of holding | +3.2% | +1.8% | 3,401,863 | Form 4 · filed 1 day after the trade |
| 2025-10-02 | Adams Katherine L. | officer | Sale | 8,100 @ $255.96 | $2.1M | −3.6% of holding | +3.2% | +1.8% | 214,683 | Form 4 · filed 1 day after the trade |
| 2025-10-02 | Adams Katherine L. | officer | Sale | 3,500 @ $254.83 | $892K | −1.5% of holding | +3.2% | +1.8% | 222,783 | Form 4 · filed 1 day after the trade |
| 2025-10-02 | O'BRIEN DEIRDRE | officer | Sale | 1,740 @ $258.08 | $449K | −1.3% of holding | +3.2% | +1.8% | 136,687 | Form 4 · filed 1 day after the trade |
| 2025-08-28 | LEVINSON ARTHUR D | director | Sale | 90,000 @ $232.07 | $20.9M | −2.2% of holding | +6.8% | +7.7% | 4,069,576 | Form 4 · filed 1 day after the trade |
| 2025-08-08 | O'BRIEN DEIRDRE | officer | Sale | 34,821 @ $223.20 | $7.8M | −20.3% of holding | +0.2% | +10.6% | 136,687 | Form 4 · filed 4 days after the trade |
| 2025-05-12 | KONDO CHRIS | officer | Sale | 4,486 @ $208.19 | $934K | −22.4% of holding | −8.8% | +10.5% | 15,533 | Form 4 · filed 2 days after the trade |
| 2025-04-23 | Parekh Kevan | officer | Sale | 4,570 @ $206.00 | $941K | −50.0% of holding | −10.4% | +1.2% | 4,569 | Form 4 · filed 2 days after the trade |
| 2025-04-02 | COOK TIMOTHY D | director | Sale | 62,077 @ $223.97 | $13.9M | −1.9% of holding | −8.7% | −4.1% | 3,290,885 | Form 4 · filed 1 day after the trade |
| 2025-04-02 | COOK TIMOTHY D | director | Sale | 28,774 @ $222.99 | $6.4M | −0.9% of holding | −8.7% | −4.1% | 3,352,962 | Form 4 · filed 1 day after the trade |
| 2025-04-02 | Adams Katherine L. | officer | Sale | 22,343 @ $223.90 | $5.0M | −10.8% of holding | −8.7% | −4.1% | 184,806 | Form 4 · filed 1 day after the trade |
| 2025-04-02 | WILLIAMS JEFFREY E | director | Sale | 17,292 @ $224.34 | $3.9M | −4.2% of holding | −8.7% | −4.1% | 392,539 | Form 4 · filed 1 day after the trade |
| 2025-04-02 | WILLIAMS JEFFREY E | director | Sale | 15,721 @ $223.48 | $3.5M | −3.7% of holding | −8.7% | −4.1% | 409,831 | Form 4 · filed 1 day after the trade |
| 2025-04-02 | COOK TIMOTHY D | director | Sale | 10,590 @ $224.76 | $2.4M | −0.3% of holding | −8.7% | −4.1% | 3,280,295 | Form 4 · filed 1 day after the trade |
| 2025-04-02 | Adams Katherine L. | officer | Sale | 9,231 @ $222.87 | $2.1M | −4.3% of holding | −8.7% | −4.1% | 207,149 | Form 4 · filed 1 day after the trade |
| 2025-04-02 | COOK TIMOTHY D | director | Sale | 6,695 @ $221.77 | $1.5M | −0.2% of holding | −8.7% | −4.1% | 3,381,736 | Form 4 · filed 1 day after the trade |
| 2025-04-02 | Adams Katherine L. | officer | Sale | 5,648 @ $224.62 | $1.3M | −3.1% of holding | −8.7% | −4.1% | 179,158 | Form 4 · filed 1 day after the trade |
| 2025-04-02 | WILLIAMS JEFFREY E | director | Sale | 2,480 @ $225.03 | $558K | −0.6% of holding | −8.7% | −4.1% | 390,059 | Form 4 · filed 1 day after the trade |
| 2025-04-02 | Adams Katherine L. | officer | Sale | 1,600 @ $221.68 | $355K | −0.7% of holding | −8.7% | −4.1% | 216,380 | Form 4 · filed 1 day after the trade |
| 2025-02-03 | LEVINSON ARTHUR D | director | Sale | 1,516 @ $226.35 | $343K | −0.0% of holding | +6.0% | −16.5% | 4,159,576 | Form 4 · filed 1 day after the trade |
| 2024-12-16 | WILLIAMS JEFFREY E | director | Sale | 42,939 @ $250.58 | $10.8M | −9.7% of holding | −7.2% | −18.6% | 398,328 | Form 4 · filed 2 days after the trade |
The vs-S&P columns are a labeled look-back on what the stock did after each filing, measured against the index over the same window. Descriptive history, not a claim about the person or a reason to trade.
247 award / exercise / gift records — not counted as purchases
Awards, option exercises, gifts and tax-withholding disposals are shown separately and never counted as open-market purchases or sales — they carry no conviction information.
| Date | Person | Role | Action | Shares | Owned after | Filing |
|---|---|---|---|---|---|---|
| 2026-09-15 | Newstead Jennifer | director | Withheld for tax | 16,228 | 46,790 | Form 4 |
| 2026-09-15 | Newstead Jennifer | director | Option exercise | 30,104 | 180,624 | Form 4 |
| 2026-09-15 | Newstead Jennifer | director | Option exercise | 30,104 | 63,018 | Form 4 |
| 2026-09-15 | Newstead Jennifer | director | Option exercise | 30,104 | 63,018 | Form 4 |
| 2026-09-15 | Newstead Jennifer | director | Option exercise | 30,104 | 180,624 | Form 4 |
| 2026-09-15 | Newstead Jennifer | director | Option exercise | 30,104 | 63,018 | Form 4 |
| 2026-09-15 | Newstead Jennifer | director | Option exercise | 30,104 | 180,624 | Form 4 |
| 2026-09-15 | Newstead Jennifer | director | Option exercise | 30,104 | 180,624 | Form 4 |
| 2026-09-15 | Newstead Jennifer | director | Option exercise | 30,104 | 63,018 | Form 4 |
| 2026-09-01 | Ternus John | director | Award / grant | 7,690 | 7,690 | Form 4 |
| 2026-06-15 | Newstead Jennifer | director | Withheld for tax | 16,238 | 41,546 | Form 4 |
| 2026-06-15 | Borders Ben | officer | Withheld for tax | 124 | 38,829 | Form 4 |
| 2026-06-15 | Newstead Jennifer | director | Option exercise | 30,104 | 210,728 | Form 4 |
| 2026-06-15 | Borders Ben | officer | Option exercise | 240 | 1,676 | Form 4 |
| 2026-06-15 | Borders Ben | officer | Option exercise | 240 | 38,953 | Form 4 |
| 2026-06-15 | Newstead Jennifer | director | Option exercise | 30,104 | 57,784 | Form 4 |
| 2026-06-15 | Newstead Jennifer | director | Option exercise | 30,104 | 57,784 | Form 4 |
| 2026-06-15 | Borders Ben | officer | Option exercise | 240 | 1,676 | Form 4 |
| 2026-06-15 | Borders Ben | officer | Option exercise | 240 | 38,953 | Form 4 |
| 2026-06-15 | Newstead Jennifer | director | Option exercise | 30,104 | 210,728 | Form 4 |
| 2026-05-27 | LEVINSON ARTHUR D | director | Gift | 65,000 | 3,699,576 | Form 4 |
| 2026-05-06 | LEVINSON ARTHUR D | director | Gift | 5,000 | 3,814,576 | Form 4 |
| 2026-04-15 | Parekh Kevan | officer | Withheld for tax | 4,793 | 14,900 | Form 4 |
| 2026-04-15 | Borders Ben | officer | Withheld for tax | 892 | 39,987 | Form 4 |
| 2026-04-15 | Borders Ben | officer | Option exercise | 371 | 1,852 | Form 4 |
| 2026-04-15 | Borders Ben | officer | Option exercise | 331 | 2,312 | Form 4 |
| 2026-04-15 | Parekh Kevan | officer | Option exercise | 5,111 | 15,331 | Form 4 |
| 2026-04-15 | Parekh Kevan | officer | Option exercise | 10,928 | 19,693 | Form 4 |
| 2026-04-15 | Parekh Kevan | officer | Option exercise | 10,928 | 19,693 | Form 4 |
| 2026-04-15 | Parekh Kevan | officer | Option exercise | 5,817 | 5,816 | Form 4 |
| 2026-04-15 | Parekh Kevan | officer | Option exercise | 5,111 | 15,331 | Form 4 |
| 2026-04-15 | Borders Ben | officer | Option exercise | 1,717 | 40,879 | Form 4 |
| 2026-04-15 | Borders Ben | officer | Option exercise | 540 | 540 | Form 4 |
| 2026-04-15 | Borders Ben | officer | Option exercise | 475 | 1,423 | Form 4 |
| 2026-04-15 | Parekh Kevan | officer | Option exercise | 5,817 | 5,816 | Form 4 |
| 2026-04-15 | Borders Ben | officer | Option exercise | 331 | 2,312 | Form 4 |
| 2026-04-15 | Borders Ben | officer | Option exercise | 371 | 1,852 | Form 4 |
| 2026-04-15 | Borders Ben | officer | Option exercise | 475 | 1,423 | Form 4 |
| 2026-04-15 | Borders Ben | officer | Option exercise | 540 | 540 | Form 4 |
| 2026-04-15 | Borders Ben | officer | Option exercise | 1,717 | 40,879 | Form 4 |
Source: SEC Form 4 filings. Each row links to its original filing.
Across 2012–2021, stocks where a CEO, C-suite officer, or director had recently made an open-market common-stock purchase ran about +28 bp per month above the universe average (n=34,268 stock-weeks). A historical tendency, not a prediction.
Congressional disclosures iStock trades disclosed by members of Congress for this company, by the date they were filed.iDisclosures shown as facts. A purchase “cluster” (≥2 members of Congress filing a buy within 90 days) has historically preceded modestly higher forward returns — and it persisted out-of-sample, though it roughly halved after 2021 (see below). A descriptive historical tendency, not a signal to trade and not used in our forecast. See /methodology.
As of 2026-09-25 · point-in-time by filed date
A cluster = ≥2 members of Congress filing a purchase within 90 days. The historical tilt persisted after 2021 but roughly halved (+45 → +32 bp/mo forward 1-month vs the S&P 500 weekly-grid baseline). Descriptive historical tendency — not a signal to trade, and not used in our forecast (audition-log 2026-07-27, recomputed 2026-09-08).
| Member | Chamber | Type | Filed | Traded | Size |
|---|---|---|---|---|---|
| Alan Armstrong | Senate | purchase | 2026-07-21 | 2026-03-27 | $250–500K |
| Alan Armstrong | Senate | purchase | 2026-07-21 | 2026-03-30 | $1–15K |
| Daniel Crenshaw | House | sale | 2026-07-16 | 2026-06-01 | $1–15K |
| Sheldon Whitehouse | Senate | sale | 2026-07-08 | 2026-06-24 | $15–50K |
| Sheldon Whitehouse | Senate | sale | 2026-07-08 | 2026-06-24 | $15–50K |
| Ro Khanna | House | sale | 2026-07-06 | 2026-06-05 | $1–15K |
| Gilbert Cisneros | House | purchase | 2026-07-02 | 2026-06-05 | $1–15K |
| Matthew Robert Van Epps | House | sale | 2026-06-17 | 2026-06-16 | $1–15K |
| Tim Walberg | House | purchase | 2026-06-03 | 2025-02-07 | $15–50K |
| Cleo Fields | House | purchase | 2026-06-03 | 2026-05-14 | $1–15K |
| Ed Case | House | purchase | 2026-05-31 | 2026-05-14 | $1–15K |
| David J. Taylor | House | sale | 2026-05-28 | 2026-05-15 | $1–15K |
| David J. Taylor | House | sale | 2026-05-28 | 2026-05-15 | $1–15K |
| John Mcguire | House | purchase | 2026-05-13 | 2026-04-15 | $1–15K |
What's happening · recap
claude-opus-4-8Generated 2026-07-25 · stored before display, never written live
On 2026-07-24, multiple outlets reported that Apple shares helped support the Dow while broader semiconductor and megacap technology stocks faced pressure, and coverage noted Apple's upcoming quarterly results and a policy conflict involving chip sourcing from China.
In the news
An article grouped Apple with Visa as companies generating substantial cash, ahead of both firms' upcoming quarterly results.
Read →A market commentary noted a rotation among Magnificent Seven stocks with Apple shares moving higher amid the shift.
Read →An opinion piece described continued personal share purchases of Apple stock by the writer.
Read →U.S. stocks were reported mixed, with the Dow Jones Industrial Average gaining partly due to Apple shares offsetting weakness in semiconductor stocks, while the S&P 500 closed near flat.
Read →A report stated that Magnificent Seven stocks, a group that includes Apple, lost a combined $787 billion in market value in a single day amid concerns over AI infrastructure spending following Alphabet and Tesla earnings.
Read →An article on the Fidelity High Dividend ETF (FDVV) noted its portfolio composition includes tech mega-caps and discussed sector-tilt weighting affecting yield calculations.
Read →A market wrap noted the S&P 500 rose 0.6% at midday amid easing Middle East tensions and falling oil prices, highlighting a divergence between traditional-economy gains and technology-sector movement.
Read →Research tool, not investment advice — historical frequencies, not recommendations. A product of Marovel Technologies LLC. Full terms.