Is Apple Stock Halal?
Apple Inc. · AAPL · NASDAQ
Apple Inc. (AAPL) passes our AAOIFI-based screen. Its core business is permissible, and (data as of 2026-03-28) interest-bearing debt is 2.0% of market cap and cash plus interest-bearing securities 1.6% — both inside the 30% AAOIFI thresholds. It is independently held by Shariah-screened ETFs SPUS and HLAL, confirming it passes professional screens. Ratios move with the share price, so check the data-as-of date; any incidental interest income should be purified.
Financial data as of 2026-03-28 · Screening basis: AAOIFI · Last reviewed 2026-06-14
Our Analysis
Apple is primarily a hardware company: most of its revenue comes from selling iPhones, Macs, iPads and wearables, which are unambiguously permissible products. The Shariah question for Apple centers on its growing Services segment, which bundles together the App Store, AppleCare, iCloud, advertising, digital entertainment (Apple Music, Apple TV+) and payment services including the Apple Card credit card program and Apple Pay. Some of those lines - music and video entertainment, advertising, and credit-card-related income - are the kind of revenue that Shariah screens classify as impermissible or questionable. Apple does not break out how much each of these sub-lines earns, so screeners have to estimate what portion of Services revenue is problematic and check it against the standard 5%-of-revenue tolerance used by AAOIFI and similar methodologies.
On the financial-ratio side, Apple carries debt, but it is small relative to the company's very large market value, and the company holds significant cash and marketable securities that generate interest income. Under market-capitalization-based screens (AAOIFI, S&P, Dow Jones), Apple has comfortably passed the debt and interest-bearing-securities thresholds in recent screenings. As of June 11, 2026, Apple is held by both major US Shariah-screened ETFs - SPUS (S&P Shariah industry-exclusion screen) and HLAL (FTSE Shariah screen, certified by Yasaar) - and both Zoya and Musaffa publicly rate it compliant/halal under AAOIFI-based screens.
The practical nuance for a Muslim investor is purification: because Apple earns some incidental impermissible income (interest on its cash pile, entertainment content, advertising), most scholars who permit the stock recommend donating a small calculated portion of dividends or gains to charity. Investors should also monitor the Services segment over time - it is Apple's fastest-growing area, and if the impermissible share of revenue grew materially, the compliance picture could change. Different screeners may reach different conclusions at any given quarter, so checking a current screening before buying is prudent.
Business Activity Screen
Apple designs, manufactures and sells smartphones, personal computers, tablets, wearables and accessories, and sells a variety of related services. Its 10-K reports net sales in five categories: iPhone, Mac, iPad, Wearables/Home/Accessories, and Services (App Store, advertising, AppleCare, cloud services, digital content including Apple Music and Apple TV+, and payment services including Apple Card and Apple Pay).
The Services category contains the lines most relevant to a Shariah business screen: digital entertainment content (Apple Music, Apple TV+), App Store games, advertising, and payment services including the Apple Card co-branded credit card arrangement and Apple Pay. Apple also earns interest income on its large cash and marketable-securities portfolio. Apple does not separately disclose revenue for Apple Music, Apple TV+, Apple Card or interest-related service fees - these are not separately disclosed in filings; only the aggregate Services category is broken out.
Financial Ratio Screen
| Screen | Value | AAOIFI limit | Result |
|---|---|---|---|
| Interest-bearing debt / market cap | 2.0% | < 30% | Pass |
| Cash + interest-bearing securities / market cap | 1.6% | < 30% | Pass |
| Impermissible income / total revenueApple does not separately disclose gross interest income in its FY2025 10-K; net other income/(expense) was -$0.32B on $416.2B revenue. Interest/dividend income on its investment portfolio is immaterial — far below the 5% limit. (Apple FY2025 Form 10-K.) | — | < 5% | Pass |
Spot market cap at research date (consider trailing average for borderline names). Data as of 2026-03-28 · thresholds per AAOIFI Shariah standards.
This verdict uses the AAOIFI standard — the most widely used and, at a 30% debt limit, the most conservative mainstream Shariah standard. Interest-bearing debt and interest-bearing securities each stay under 30% of market cap, and impermissible income under 5% of revenue. Other standards (Dow Jones Islamic, S&P Shariah, MSCI Islamic, FTSE Yasaar) use ~33% limits or screen against total assets, so a borderline company can be rated differently by each. How we screen & why screeners disagree →
How Apple screens across Shariah standards
All three mainstream bases below reach the same conclusion for this company.
| Standard | Debt | Cash & interest securities | Limit / basis | Result |
|---|---|---|---|---|
| AAOIFI (our standard) | 2.0% | 1.6% | < 30% of market cap | Pass |
| Dow Jones Islamic / S&P Shariah thresholdDow Jones and S&P apply this limit against a trailing 24–36-month average market cap; shown here on the same point-in-time market cap for comparison. | 2.0% | 1.6% | < 33% of market cap | Pass |
| MSCI Islamic / FTSE Yasaar basisTotal-assets denominator. MSCI/FTSE also apply entry/exit buffers and a receivables screen we do not reproduce. | 22.8% | 18.5% | < 33.33% of total assets | Pass |
HalalWallet computation reproducing each standard's threshold and denominator from public filings (balance sheet as of 2026-03-28) — not the providers' licensed index determinations, which can differ. Debt is interest-bearing borrowings (operating leases excluded). The impermissible-income screen (< 5% of revenue) is common to all of these standards and is shown in the ratio table above. Dow Jones and S&P apply their limit against a trailing 24–36-month average market cap; MSCI and FTSE add entry/exit buffers and a receivables screen. Full methodology →
Scholars' & Screeners' Positions
Published positions, cited as stated. Screeners can reach different conclusions on the same company because of ratio timing and methodology differences — we report the disagreement rather than flatten it.
SP Funds S&P 500 Sharia ETF (SPUS)
Held in SPUS as of 2026-06-11 — passed the S&P Shariah screen applied by the fund.
Source →Wahed FTSE USA Shariah ETF (HLAL)
Held in HLAL as of 2026-06-11 — passed the FTSE Shariah screen applied by the fund.
Source →Zoya
Zoya's public stock page rates AAPL Shariah-compliant under its AAOIFI-based screen (checked 2026-06-11).
Source →Musaffa
Musaffa's public stock page classifies AAPL as HALAL under its AAOIFI-based methodology, as of May 2026.
Source →
Purification
Even Shariah-compliant companies typically earn a small amount of incidental interest on corporate cash. The standard practice is to purify: donate the proportion of your dividends (and, per some scholars, capital gains) attributable to impermissible income. Our purification calculator automates the math from your holding and the company's disclosed figures.
Purification calculatorKeep your portfolio halal
A pass today isn't a pass forever — ratios drift across thresholds between filings. A halal screener monitors holdings continuously.
Related guides
Consider Consulting an Islamic Scholar
Major whether Apple Inc. is halal decisions often involve nuances that vary by scholarly opinion and personal circumstance. While HalalWallet provides educational comparisons and tools, we are not scholars or financial advisors. For personal guidance on Shariah compliance, consider speaking with a qualified Islamic scholar, your local imam, or a Shariah-certified financial advisor familiar with your situation.
Important: HalalWallet is an educational comparison platform. We do not provide financial, legal, or religious advice.
Product structures and Shariah-compliance oversight vary by provider. Before applying:
- Verify halal compliance directly with the provider.
- Review the contract structure (Murabaha, Ijara, Musharakah, etc.) and any disclosed Shariah board opinions.
- Consult a qualified Islamic finance advisor or scholar for guidance on your individual circumstances.
Frequently Asked Questions
Sources and review process
This page is reviewed against HalalWallet editorial standards and source documentation.
Reviewed by: HalalWallet Editorial Team
Last reviewed: 2026-06-01
- AAPL latest quarterly filing (balance sheet 2026-03-28)
- AAOIFI Shariah Standards
- Apple 10-K filings - SEC EDGAR (CIK 0000320193)
- SPUS holdings (sp-funds.com, table dated 06/11/2026)
- HLAL fund page with official Holdings link (funds.wahedinvest.com)
- Zoya public compliance page for AAPL
- Musaffa public compliance page for AAPL
- HalalWallet Methodology
- Editorial Policy
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Editorial Team, HalalWallet
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