Apple’s Q4 2026 Results
John Ternus will participate in his first Apple earnings call as the company’s CEO today
Apple (transcript, Hacker News):
The Company posted quarterly revenue of $114.5 billion, up 12 percent year over year. Company gross margin was 47.9 percent, including a favorable impact of approximately 1 percentage point from tariff refunds.
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“Our record September quarter capped off a strong fiscal 2026, with all-time record revenue of $479 billion and double-digit EPS growth,” said Kevan Parekh, Apple’s CFO.
iPhone revenue was up 17.5%, Mac revenue was up 23.7%, and Services revenue was up 9.8%. Wearables revenue was down 7.9% and iPad revenue was down 10.4%.
Apple CFO Kevan Parekh said it was the best iPhone year in every single Apple geographic segment.
Meanwhile, the Mac—a 42-year-old product!—had its best year ever. Interestingly enough, it wasn’t in total revenue (2021 still holds that record), but in total units.
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Obviously, Apple sees iCloud+ growth as a new place to drive Services revenue.
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This is the reality of Apple’s business right now: It has raised prices across the board, and it’s eating margin.
Apple is about to feel the squeeze from rising memory prices, with the cost of RAM climbing just as the company heads into its busiest shopping season. According to Reuters, Apple expects to pay more for memory in the December quarter, with the CEO, John Ternus, describing the current price increases as “unprecedented.”
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But that cushion is getting thinner, and Apple expects memory purchases to become even more expensive into 2027.
Apple said it expects gross margin of 45% to 46% in the quarter ending in December, down from 47.9% in the fourth quarter. It forecast services revenue growth of 8% to 9%, below analysts’ expectations of 10.7%.
While its rivals are facing investor uncertainty over huge investments in artificial intelligence, Bourne said Apple’s “tepid approach” to AI infrastructure spending had helped preserve its cashflow – while partnerships with companies such as Alphabet could help the iPhone maker strengthen its AI capabilities without taking on the same financial risks as its peers.
Apple’s research and development (R&D) spending increased by $11.22 billion in fiscal 2026, reaching $45.77 billion, according to the company’s financial statements.
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Apple previously linked its growing development budget to AI. During its April earnings call, CFO Kevan Parekh said AI investment would come on top of spending already planned for Apple’s product roadmap.
Previously:
- Apple’s Q3 2026 Results
- Apple Services Price Hikes 2026
- Apple Financial Statements: Products vs. Services
- Apple Hardware Price Hikes
- MacBook Neo
- Apple’s Q4 2025 Results
1 Comment RSS · Twitter · Mastodon
Oh noes, Apple will only gouge us an extra 45% instead of 50%!!11!!11one 🙄🙄🙄
