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Apple will report its fiscal fourth-quarter 2026 results on Monday, November 2, the first earnings release since John Ternus took over as CEO. The company will hold its usual conference call at 5 pm EDT, where Ternus and CFO Kevan Parekh will discuss the numbers and the outlook.
Last quarter, Apple guided for revenue growth of 9 to 11 per cent year on year for the September quarter. Analysts at the time were slightly more optimistic, forecasting about 12 per cent. iPhone revenue is expected to grow in the mid-teens, while Services growth is likely to hold steady compared with the previous quarter.
Several factors could weigh on the results. These include supply constraints for the latest iPhones, ongoing currency pressures and the global memory chip shortage, which has already pushed Apple to raise prices across much of its lineup.
New products arrive too late to matter much
Apple launched many products around this quarter, but most of their sales will land in the next one. The iPhone 18 Pro and Pro Max, along with the Apple Watch Series 12 and Ultra 4, went on sale in mid-September, so they had only about nine days in the quarter that ended September 26. The new Mac mini and Mac Studio models had even less time on shelves.
Other products, including the iPhone Duo, HomePod mini 2, a new iPad mini, the M6 iMac and new MacBook Pro models, either launched after the quarter closed or will arrive in November.
Strong previous quarter
Apple's June-quarter performance sets a high bar. It posted record revenue of $109.4 billion, up 16 per cent year on year. iPhone sales rose more than 21 per cent, Mac revenue jumped nearly 29 per cent and Services continued to grow solidly. In the year-ago fourth quarter, Apple reported revenue of $102.5 billion.
What Wall Street expects
Some consensus figures put revenue near $113 billion, with earnings per share of around $1.97 to $1.99. Brokerage views vary:
- Evercore models about USD 113 billion in revenue and 14 per cent iPhone growth.
- UBS sees similar numbers, with a slowdown in Services.
- Bank of America also lands near $113 billion.
- Morgan Stanley expects results largely in line with forecasts.
- Loop Capital is more cautious, citing memory and component shortages that may have trimmed production plans.
What investors will watch
Investors will look for comments on supply challenges, the memory crisis and early signs of demand for the newest hardware. The report will also be the first official snapshot of Apple's performance under its new leadership.
English (US) ·