Technology giant is set to move into one of Birmingham's most historic and prominent stores, the Post understands.
A deal is imminent on the takeover of the huge six-storey Waterstones store in New Street, originally one of the first Midland Bank branches in the country.
It continues the renaissance of the most prominent part of the city centre, coming just days after the opening of the and before testing begins on the
One Corporation Street retailer nearby has already committed to a major expansion on the back of the impending arrival of Apple.
While the deal is yet to be confirmed, the Post understands Apple, Waterstones and the Grade II-listed building's owner, Hortons' Estate, have agreed terms.
Plans were submitted to Birmingham City Council earlier this summer outlining major changes to the inside of the building, including removing a staircase and mezzanine balcony added in the 1990s.
Architects said this would reinstate the original atmosphere of the old banking hall and create a new interior "suitable for a prestige flagship retail store".
David Johnson, owner of jewellery store Rex Johnson & Sons in nearby Corporation Street, said Apple's interest showed the retail offer of that part of the city was strengthening.
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He is now so confident that he plans to double the size of his own shop just 18 months after considering closing down as footfall plummeted due to the Metro line extension.
He said: "I have taken the shop next door and we are doubling in size on the strength of Apple taking Waterstones and the new John Lewis. I really think this shows the customers are likely to come back to New Street and Corporation Street again.
"For us, Apple trading from there is really massive because it is the right kind of customer, just like with John Lewis and Grand Central.
"We have been through three years of hell in Corporation Street - I was very close to throwing in the towel 18 months ago. Hopefully, now, we will feel the benefit of that decision not to quit."
Apple would not confirm the deal when approached by the Post but reports in the property press suggest the technology giant plans to vacate its 4,000 sq ft store at the Bullring for the 20,000 sq ft former banking hall.
It is believed the Midland Metro expansion, taking trams from Snow Hill station to will also boost customer numbers.
Testing of the new trams will begin in less than a month, with the line going operational by the end of the year.
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Meanwhile, Waterstones will focus on its High Street store.
The New Street Apple store at 128 New Street was originally built in 1879 for Midland Bank.
While the plans will change none of the neo-classical detailing of the exterior, the interior of the building will be transformed.
The upper floors and rear part of the building will be stripped out and refurbished.
The planning application stated: "It is our intention to reinstate the space back to the single generous volume and character when used as a banking hall by Midland Bank.
"Retail trading will be confined to the ground and lower ground floor level, to impose on the public's experience of the space as originally intended when used as a banking hall."
Steve Hewlett, manager of the Retail Birmingham business improvement district, said: "It is fantastic news for that area.
"It will rejuvenate that part of New Street and it you add in the Metro extension it is fantastic news for retail in the city and especially retailers in that vicinity. I think it will become an iconic store for Birmingham."
Pictures: Old Birmingham banks now home to bars and cafés