Apple Q4 2026 Earnings: iPhone 18 Pro Demand in Focus
All eyes on Wall Street turned to Apple Inc. (AAPL) on Monday, November 2, as the tech giant released its highly anticipated fiscal fourth-quarter 2026 earnings. It was the company’s first earnings report under new CEO John Ternus, who took the helm from Tim Cook earlier this year.
Analysts widely projected Apple to report revenue of approximately $113.4 billion, representing roughly 11% year-over-year growth from the $102.47 billion reported in Q4 2025. Earnings per share were forecast at around $1.99, up from $1.85 a year earlier, according to a consensus of 27 analysts surveyed ahead of the report.
The quarter carries special significance because it includes the first days of iPhone 18 Pro and Pro Max sales. Launched on September 18, the new models contributed roughly one week of initial sales data to the quarter. Analysts projected iPhone revenue of approximately $56.4 billion, potentially a 15% year-over-year increase, supported by strong consumer demand and price increases Apple introduced in late June.
Investors were also watching gross margins closely. Apple guided for 47%–48% gross margins, down from 50.1% in the June quarter. The decline was largely attributed to higher memory component costs and ongoing supply constraints affecting iPhone, Mac, and iPad production.
The results and accompanying guidance from Ternus and CFO Kevan Parekh are expected to set the tone for Apple’s stock heading into the crucial holiday quarter.
Source: AppleInsider – What analysts expect from Apple’s Q4 2026 results on November 2