Apparatus and method for applying fasteners during endoscopic surgery. The apparatus vertically stacks fasteners in a fastener applicator which is detachable and replaceable from a handle portion by a rotational locking system. The fasteners are applied by moving them to a driving channel by a biased fastener positioning spring as a slide is retracted; the slide is then advanced until it engages a fastener in the driving channel and drives the fastener over an anvil. During advancement of the slide a biased stop spring is forced back into a recess thereby allowing the next fastener to move forward in the storage channel; the slide is then retracted, freeing biased ejector springs to kick the formed fastener off the anvil; finally the slide is further retracted, until the fastener positioning spring is once again free to move the distal-most fastener from the storage channel into the driving channel.