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Klarna Group plc KLAR stock rose after reports said Apple Inc. AAPL is partnering with the Swedish fintech company to launch Apple Upgrade, a new device-leasing program.
Klarna shares jumped as much as 11% to $20.78 following the report before paring most of those gains. The stock was up 1.87% at $19.11 at the time of publication.
Apple is preparing a device-leasing program that could reshape how customers buy and upgrade its products. The company plans to launch Apple Upgrade on July 28, Bloomberg reported on Tuesday, citing people familiar with the matter.
The program will cover most iPhone, Mac, iPad and Apple Watch models and will initially launch at least in the U.S. Customers will be able to access it through Apple’s retail stores and online channels.
Lower Payments, Upgrade Options
Apple Upgrade will work like a subscription. Customers can pay off a device early, upgrade early to a new model, or keep the product after the lease period. In some cases, those options will carry extra fees.
iPhone and Apple Watch leases will run for 24 months, while Mac and iPad leases will run for 36 months. Customers will need approval through a soft credit check.
Apple plans to market the program as a lower-payment alternative to existing financing options. The company also plans to stop new enrollments in its current iPhone Upgrade Program and standard financing plans to make room for Apple Upgrade.
Earnings And Analyst Outlook
Klarna’s next major catalyst is its second-quarter earnings report, scheduled for Aug. 18, 2026.
Wall Street expects the company to report a loss of 7 cents per share on revenue of $991.82 million, according to consensus estimates.
Analyst sentiment remains broadly positive. The stock carries a Buy consensus rating with an average price forecast of $22.75, based on 22 analysts. Forecasts range from $18 to $27.
Recent analyst actions have also been constructive. Goldman Sachs reiterated its Buy rating and raised its price forecast to $25 on July 9. UBS maintained its Buy rating and lifted its price forecast to $23 on July 8, while JPMorgan reaffirmed its Overweight rating and increased its price forecast to $22 the same day.
Klarna Price Action
KLAR Price Action: Klarna shares were up 1.87% at $19.11 at the time of publication on Tuesday, according to Benzinga Pro data.
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This article Klarna Lands Apple Deal to Power New Device Leasing Program: Report originally appeared on Benzinga.com.
