The strong iPhone cycle and Services momentum heading into the holiday quarter are key positives. Watch for iPhone Duo and new product lineup demand commentary on the conference call, and any update on tariff refund impacts or gross margin trajectory for Q1 FY2027.
How the stock moved after the report
⚠ Clustered BULLISH VIEWSTOCK ABOVE ENTRY AT T+5- T+0 · Nov 3 $331.90entry
- T+1 · 8d ago +5.31%α +3.65% · $349.51
- T+5 · yesterday +5.00%α +5.59% · $348.51
- T+6 · todayOpen
- T+20 · in 20d Pending
- T+60 · in 3mo Pending
Price Chart
REPLAYWatch the reaction play outHow similar events traded
Executive Summary
Apple reported Q4 FY2026 revenue of $114.5B (+12% YoY) and diluted EPS of $2.10 (+14% YoY), both above consensus estimates of $113.27B and $1.98. The quarter set September records for total revenue, iPhone revenue, and EPS, with Services revenue reaching an all-time high. Operating cash flow was $28B, and the company returned $28B to shareholders.
Key Financial Metrics
Key Facts
- Q4 FY2026 revenue of $114.5B, up 12% YoY from $102.5B
- Diluted EPS of $2.10, up 14% YoY from $1.85
- iPhone revenue of $57.6B, a September quarter record, up 17% YoY
- Services revenue of $31.6B, an all-time high, up 10% YoY
- Gross margin of 47.9%, including ~1pp favorable impact from tariff refunds
- Operating cash flow of $28B; $28B returned to shareholders
- Full fiscal year revenue of $478.8B, an all-time record
- Installed base of active devices reached a new all-time high across all categories and geographies
- Dividend of $0.27 per share declared, payable November 16, 2026
Financial Impact
Revenue beat consensus by ~$1.2B (1.1%); EPS beat consensus by $0.12 (6.1%)
Segment Breakdown
| Segment | Revenue | Growth |
|---|---|---|
| Americas | $48.7B | +10.2% |
| Europe | $32.0B | +11.5% |
| Greater China | $17.5B | +21.0% |
| Japan | $6.5B | -1.4% |
| Rest of Asia Pacific | $9.7B | +15.0% |
Risk Factors
- Gross margin declined to 47.9% from 50.1% in Q3, partly due to lower tariff refund benefit
- iPad revenue declined 10% YoY; Wearables, Home and Accessories declined 8% YoY
- Inventories rose to $14.5B from $5.7B a year ago, potentially signaling supply build or demand uncertainty
- Forward-looking statements about holiday season and new products carry execution risk
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0000320193-26-000024 |
| Document: aapl-20261102.htm | 0000320193-26-000024 |
| Document: 0000320193-26-000024-index-headers.html | 0000320193-26-000024 |
| Document: 0000320193-26-000024-index.html | 0000320193-26-000024 |
| Document: 0000320193-26-000024.txt | 0000320193-26-000024 |
| 8-K Data (Synthetic) | 0000320193-26-000024 |
Track record
94 reports on AAPL
16 of 24 bullish or bearish reports moved the stock their way by T+5. Best: +20.31% at T+60 after the Apr 30, 2026 report. 21 of 24 went positive at some point.
Filters
- Nov 11, 2026today ANALYST-UPGRADE Bullish 5/10 Entry $346.77 Now $355.63 +2.56% settles Nov 18
- Nov 9, 20262d ago 25-NSE Neutral 1/10 Entry $348.51 Now $355.63 +2.04% settles Nov 17
- Nov 9, 20262d ago 8-K Neutral 2/10 Entry $348.51 Now $355.63 +2.04% settles Nov 17
- Nov 6, 20266d ago Court Ruling Neutral 3/10 Entry $350.69 Now $355.63 +1.41% settles Nov 16
- Nov 3, 20269d ago Court Ruling Neutral 1/10 Entry $349.51 to $355.63 Now $355.63 +1.75% ▲ +1.75% +2.66% vs SPY
- Nov 2, 20269d ago 8-K Bullish 6/10 Viewing Entry $331.90 to $348.51 Now $355.63 +7.15% ▲ +5.00% +5.59% vs SPY
- Oct 29, 202614d ago Court Ruling Neutral 2/10 Entry $344.63 to $342.37 Now $355.63 +3.19% ▼ −0.66% +2.05% vs SPY
- Oct 22, 202621d ago Insider Cluster Neutral 2/10 Entry $347.73 to $344.63 Now $355.63 +2.27% ▼ −0.89% −0.33% vs SPY
- Oct 22, 202621d ago Court Ruling Neutral 1/10 Entry $347.73 to $344.63 Now $355.63 +2.27% ▼ −0.89% −0.33% vs SPY
- Oct 21, 202622d ago Court Ruling Neutral 1/10 Entry $348.22 to $348.91 Now $355.63 +2.13% ▲ +0.20% −0.51% vs SPY
US Market Status
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