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On November 2, 2026, Apple announced its financial results for the fourth quarter of fiscal year 2026, with revenue reaching $114.5 billion, up 12% year over year; iPhone revenue set a September-quarter record, and Services revenue hit an all-time high; diluted earnings per share were $2.10, up 14% year over year, and gross margin was 47.9%, including a positive impact of about 1 percentage point from tariff refunds. Full-year revenue for the fiscal year was $479 billion, an all-time high, and operating cash flow for the quarter was $28 billion. On the November 3 earnings call, Apple warned that rising memory costs and Siri AI-related spending would pressure holiday-quarter margins, and it expects gross margin to fall to 45%–46% in the first quarter of fiscal year 2027; CFO Kevan Parekh said Siri AI will drive up cloud costs. On the same day, Kevan Parekh said AI presents opportunities in third-party apps, partnerships, and first-party businesses, but did not specify the forms.
AI-generated from public reports
Latest development · Report
Apple goes all-in on AI: using both its own and others'Developments
3 confirmed developments
Apple warns Siri AI and memory costs will squeeze holiday-quarter margins
Source:9to5MacApple CFO says AI presents opportunities in third-party apps and partnerships
Source:TechCrunch AI- Source:Apple Newsroom
Reports and discussion timeline
Browse reports and discussion by time. Their evidence levels remain distinct.
Nov 3
The Verge AI
Apple goes all-in on AI: using both its own and others'
Apple's fourth-quarter revenue and earnings per share hit record highs, with iPhone revenue up 17.5% year-over-year to $57.6 billion and Mac revenue up 24% to $10.8 billion. On the earnings call, AI and Apple Intelligence were mentioned 45 times, and CFO Kevan Parekh said AI can contribute revenue through multiple paths: device upgrades, a share of third-party app subscription revenue, and paid own features. Apple's capital expenditure last quarter was only $2.2 billion, far below Amazon's $77.3 billion and Alphabet's $51.4 billion, as it participates in the AI boom through a combination of on-device processing, its own servers, and external models.
MacRumors Apple Intelligence
Apple's fiscal 2026 R&D spending rises to $45.77 billion, up 32% year-over-year
Apple's fiscal 2026 R&D spending reached $45.77 billion, an increase of $11.22 billion from $34.55 billion in fiscal 2025, a 32% increase, equivalent to about $125 million per day. Revenue grew 15% over the same period, with R&D growth significantly outpacing sales, and R&D investment now approaching $1 for every $10 of revenue. Apple CFO Kevan Parekh previously linked the R&D budget increase to AI investment.
Phoenix Technology
Apple's fiscal 2026 revenue reaches $478.8 billion as AI inference costs push up hardware pricing
Apple released results for the fourth quarter and full fiscal year 2026, with full-year revenue reaching $478.8 billion and quarterly revenue of $114.477 billion, up 12% year over year. CEO Ternus said on the call that memory prices are rising at an unprecedented pace, putting direct pressure on hardware pricing, and gross margin guidance for next quarter falls back to 45%–46%. Siri handles more than 2.5 billion requests per day, and cloud inference spending pushed R&D expenses up to $45.765 billion, up 32.5% year over year; Apple is exploring bringing advanced AI capabilities into iCloud+ subscriptions.
Phoenix Technology
Apple's App Store faces dual pressure from regulation and declining mobile gaming; AI and third-party apps may become new growth drivers
Apple CFO Kevin Parekh said on the earnings call that AI may prompt consumers to upgrade devices to experience the latest features, and that third-party apps, partnerships, and its own businesses also present growth opportunities. The App Store's performance in the quarter ended September was roughly flat year over year, but estimated related commission revenue in the U.S. fell 18% in August this year, and revenue also declined in Brazil and Japan after new regulations. Apple expects services business growth of 8% to 9% in the December quarter, with mobile gaming pressure expected to continue through the summer quarter.
TechCrunch AI
Apple may boost revenue through third-party AI apps; CFO says opportunities exist in third-party apps and partnerships
Apple CFO Kevan Parekh said on the earnings call that, in addition to driving users to upgrade devices, AI presents opportunities in third-party apps, partnerships, and first-party businesses, but did not specify the exact form. Reuters reported that investors speculate Apple may distribute third-party AI agents through the App Store and take a cut. Apple expects services business growth of 8% to 9% in the December quarter, and mentioned headwinds such as third-party licensing.
MacRumors Apple Intelligence
Apple FY2026 Q4 Earnings Call: iPhone Duo Demand Outstrips Supply, Siri AI to Have Usage Caps
On Apple's FY2026 Q4 earnings call, CEO John Ternus said demand for the iPhone Duo cannot be met and that the timing for supply to balance is undetermined, and confirmed that usage caps will be set for server-side AI features such as Siri AI, with paid expansion required beyond the limit. In the quarter, iPhone revenue was $57.6 billion, up 17% year over year; Mac revenue was $10.8 billion; Services revenue reached a record high of $31.6 billion; and Greater China revenue grew 21%, setting a quarterly record. Apple called memory costs "unprecedented," expects them to rise further in the December quarter, and forecasts revenue growth of 7% to 10% year over year for the current quarter.
MacRumors Apple Intelligence
Apple warns that memory costs will continue to rise, declines to say whether prices will increase again
Apple CEO John Ternus said on the earnings call that current memory pricing is "unprecedented," that costs in the December quarter will be higher than in the September quarter, and that they will continue to rise afterward. Apple expects gross margin to fall from 47.9% in the September quarter to 45% to 46% in the December quarter; Mac and iPad supply will be constrained by the memory issue; inventory more than doubled year over year to $14.5 billion, and manufacturing purchase obligations increased by $33 billion compared with June. Asked whether prices would increase again, COO Sabih Khan did not respond directly.
SiliconANGLE
Apple's new CEO John Ternus's first earnings report: revenue beats expectations but iPhone guidance is weak, stock price falls
Apple's new CEO John Ternus hosted his first earnings call on September 1 after succeeding Tim Cook. Fourth-quarter revenue rose 12% year-over-year to $114.48 billion, with earnings per share of $2.10, both beating Wall Street expectations, but iPhone sales fell short of expectations and future guidance was disappointing, sending the stock price down after hours. iPhone revenue reached $57.58 billion, up 17% year-over-year, while services revenue was $31.57 billion, growing less than 10%, the slowest pace since September 2022. Ternus did not disclose monetization plans such as subscriptions for AI features, saying only that hardware upgrades are one of the opportunities.
9to5MacRelated discussion
9to5Mac joined this discussion
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9to5Mac
Apple Says Rising Memory Costs and Siri AI Will Weigh on Holiday Quarter Margins
On its fiscal 2026 Q4 earnings call, Apple said rising memory costs and Siri AI-related spending will pressure holiday quarter margins, and it expects fiscal 2027 Q1 gross margin to fall to 45%–46%. In Q4, the company's gross margin was 47.9% and product gross margin was 37.2%, down 2.2 and 2.9 percentage points quarter over quarter, respectively, with quarterly revenue of $114.5 billion. CFO Kevan Parekh said Siri AI will drive up cloud costs, and revenue from related devices must be recognized over their usage life.
The Guardian Technology
Apple's new CEO John Ternus's first earnings report: revenue of $114.5 billion beats expectations
Apple posted revenue of $114.5 billion in the July-September fiscal quarter, up 12% year over year, with earnings per share of $2.10, both above FactSet analysts' expectations of $113.4 billion and $1.99, giving new CEO John Ternus a strong start. Record iPhone revenue and strong growth in the Chinese market helped Apple buck the trend upward in a quarter when tech giants such as Alphabet, Amazon and Intel posted weak results. Analysts noted that Apple's "lukewarm" investment in AI infrastructure helps it preserve cash flow.
FT TechnologyRelated discussion
FT Technology joined this discussion
This post contributes to heat; it is not a formal report or confirmed fact.
9to5Mac
Apple's fiscal 2026 R&D spending hits a record $45.77 billion, up 32% year-over-year
Apple's fiscal 2026 R&D spending rose 32% year-over-year to a record $45.77 billion, up from $34.55 billion in fiscal 2025. Fourth-quarter R&D spending was $11.73 billion, up 32% year-over-year, but up only $1 million quarter-over-quarter, suggesting spending may be starting to level off. Former CEO Tim Cook said Apple has "significantly increased investment" in AI-related areas.
MacRumors Apple Intelligence
Apple Announces Fiscal 2026 Fourth Quarter Results: Revenue of $114.5 Billion, Net Profit of $30.7 Billion
Apple's fiscal 2026 fourth quarter revenue was $114.5 billion and net profit was $30.7 billion, up 12% year over year, setting records for September-quarter revenue, iPhone revenue and earnings per share, with services revenue reaching an all-time high. Full-year revenue was $478.8 billion and net profit was $132.2 billion, both all-time highs. New CEO John Ternus mentioned product lines including iPhone Duo, the iPhone 18 Pro series, touchscreen Macs and the all-new Siri AI.
9to5Mac
Apple Announces Q4 FY2026 Earnings: Revenue of $114.5 Billion, Up 12% Year-over-Year
Apple reported fourth-quarter fiscal 2026 revenue of $114.5 billion, up 12% year-over-year, with net income of $30.71 billion and earnings per share of $2.10. iPhone revenue was $57.58 billion, Services revenue reached a record high of $31.57 billion, and Mac revenue was $10.79 billion. CFO Kevan Parekh said total revenue for the fiscal year reached $479 billion, with the installed base of active devices hitting all-time highs across every major product category and geographic segment.
Nov 2
Apple NewsroomFirst-party
Apple Reports Fourth Quarter Fiscal 2026 Results: Revenue of $114.5 Billion, Up 12% Year over Year
Apple's fourth quarter fiscal 2026 revenue reached $114.5 billion, up 12% year over year, with iPhone revenue setting a September quarter record and Services revenue reaching an all-time high. Diluted earnings per share were $2.10, up 14% year over year; gross margin was 47.9%, including an approximately 1 percentage point positive impact from tariff refunds. Apple's full-year revenue for the fiscal year reached $479 billion, an all-time high, and operating cash flow for the quarter was $28 billion.
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