diff --git a/pandas-stubs/core/series.pyi b/pandas-stubs/core/series.pyi
index 30e5132ba..6184fe833 100644
--- a/pandas-stubs/core/series.pyi
+++ b/pandas-stubs/core/series.pyi
@@ -663,9 +663,22 @@ class Series(IndexOpsMixin, NDFrame, Generic[S1]):
         *args,
         **kwargs,
     ) -> DataFrame: ...
+    @overload
     def apply(
-        self, func: Callable, convertDType: _bool = ..., args: tuple = ..., **kwds
-    ) -> Series | DataFrame: ...
+        self,
+        func: Callable[..., Hashable],
+        convertDType: _bool = ...,
+        args: tuple = ...,
+        **kwds,
+    ) -> Series: ...
+    @overload
+    def apply(
+        self,
+        func: Callable[..., Series],
+        convertDType: _bool = ...,
+        args: tuple = ...,
+        **kwds,
+    ) -> DataFrame: ...
     def align(
         self,
         other: DataFrame | Series,
diff --git a/tests/test_series.py b/tests/test_series.py
index b07947984..75061d886 100644
--- a/tests/test_series.py
+++ b/tests/test_series.py
@@ -374,10 +374,32 @@ def test_types_unique() -> None:
 
 
 def test_types_apply() -> None:
-    s = pd.Series([-10, 2, 2, 3, 10, 10])
-    s.apply(lambda x: x**2)
-    s.apply(np.exp)
-    s.apply(str)
+    s = pd.Series([-10, 2, 2, 3.4, 10, 10])
+
+    def square(x: float) -> float:
+        return x**2
+
+    check(assert_type(s.apply(square), pd.Series), pd.Series, float)
+    check(assert_type(s.apply(np.exp), pd.Series), pd.Series, float)
+    check(assert_type(s.apply(str), pd.Series), pd.Series, str)
+
+    def makeseries(x: float) -> pd.Series:
+        return pd.Series([x, 2 * x])
+
+    check(assert_type(s.apply(makeseries), pd.DataFrame), pd.DataFrame)
+
+    # GH 293
+
+    def retseries(x: float) -> float:
+        return x
+
+    check(assert_type(s.apply(retseries).tolist(), list), list)
+
+    def get_depth(url: str) -> int:
+        return len(url)
+
+    ss = s.astype(str)
+    check(assert_type(ss.apply(get_depth), pd.Series), pd.Series, int)
 
 
 def test_types_element_wise_arithmetic() -> None: