dpApple (AAPL) stock fell 4% before the bell on Tuesday after the company reported its fourth quarter earnings on Monday, beating expectations on the top and bottom lines on strong iPhone sales.
This is Apple’s first earnings call with new CEO John Ternus, who took over the role from Tim Cook on Sept. 1.
For the quarter, Apple reported earnings per share (EPS) of $2.10 on revenue of $114.48 billion. Wall Street was looking for EPS of $2 on revenue of $113.46 billion, according to Bloomberg analyst consensus estimates.
The company saw EPS of $1.85 and revenue of $102.46 billion in the same period last year. Greater China revenue fell short of projections, coming in at $17.54 billion versus estimates of $18.75 billion. Apple’s iPhone sales came in at $57.58 billion versus an estimate of $56.48 billion.
Services, the company’s second-largest segment, saw revenue of $31.57 billion compared to a projected $31.58 billion. Apple’s Mac business brought in $10.79 billion. Analysts were looking for $9.69 billion.
Wearables and iPad generated $8.3 billion and $6.23 billion.
331.90 -6.42 (-1.90%)
At close: November 3 at 4:00:01 PM EST
333.30 +1.40 (+0.42%)
LIVE COVERAGE IS OVER 32 updates
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Apple can’t tell when supply of iPhone Duos will catch up with demand
COO Sabih Khan says it’s hard to predict when supply and demand for the iPhone Duo will be in balance.
He added that Apple saw supply constraints for the iPhone, Mac, and iPad, which were related to the availability of its advanced processing nodes.
A large queue forms outside the Apple shop in Covent Garden, London as people wait in line to buy the two new iPhones. (Photo by John Stillwell/PA Images via Getty Images) · John Stillwell – PA Images via Getty Images -
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Wearables and iPad installed base hit new all-time highs
CFO Kevan Parekh explained that both Apple’s Wearables and iPad installed bases reached all-time highs, driven by new devices in each category.
A staff holds the Apple Watch Series 12 is seen at the iPhone launch day at the Apple Fifth Avenue store in New York City on September 18, 2026, for the debut of the iPhone 18 Pro and iPhone 18 Pro Max. (Photo by TIMOTHY A. CLARY / AFP via Getty Images) · TIMOTHY A. CLARY via Getty Images -
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Ternus points to US manufacturing
Ternus said that Apple now supports more than 450,000 American jobs via thousands of suppliers across 50 states.
Quality control employees watch as lengths of glass move down the line during a tour of Corning’s iPhone glass manufacturing facility Friday, Sept. 12, 2025, in Harrodsburg, Ky. (AP Photo/Jon Cherry) · ASSOCIATED PRESS -
Ternus applauds Apple TV+ Emmy wins
Apple’s Ternus said the Emmys were a night to remember for the company, with its shows winning more awards than any other network.
He also shouted out “Widows Bay,” which was the most awarded comedy ever in a single year.
Katie Dippold wins the Outstanding Writing for a Comedy Series Award for “Widows Bay” at the 78th Emmy Awards held at Peacock Theater on September 14, 2026 in Los Angeles, California. (Photo by Gilbert Flores/Variety via Getty Images) · Gilbert Flores via Getty Images -
Ternus says Macs sold well throughout fiscal 2026
According to CEO John Ternus, Apple sold more Macs in fiscal 2026 than in any other year. Apple also set a record for new Mac customers in the September quarter.
LOS ANGELES, CALIFORNIA – OCTOBER 28: The new touchscreen MacBook Pro is displayed at the Apple “Pro and Tell” event on October 28, 2026 in Los Angeles, California. Apple CEO John Ternus unveiled the new MacBook Pro with PROLED XDR Display, the first-ever touchscreen Macbook, at the event amid a flurry of new product releases ahead of the 2026 holiday shopping season. (Photo by Mario Tama/Getty Images) · Mario Tama via Getty Images -
Upgraders are growing
Apple set a September-quarter record for upgraders worldwide, including in the US and China.
Customers wait in line to purchase Apple’s new foldable iPhone Duo phone on the launch day at the Apple store in Austin, Texas, US, October 23, 2026. REUTERS/Jan Sonnenmair · REUTERS / REUTERS -
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Apple secured its biggest education deal ever
Ternus said Apple inked its biggest education deal yet, bringing 170,000 MacBook Neos to teachers and students in the Philippines.
“Opportunities like this bring more users into our ecosystem and help fuel growth across our business.”
Apple’s new entry-level Mac laptop, the MacBook Neo is on display during an event in New York City, U.S., March 4, 2026. REUTERS/Shannon Stapleton · REUTERS / REUTERS -
Ternus touts new products
Apple CEO John Ternus says the company just completed one of its most prolific launch periods in its history, including the iPhone Duo, iPhone 18 Pro and Pro Max, AirPods 5, new Apple Watches, and HomeView.
He also called out Apple’s Siri AI. “I’m feeling great about the opportunities ahead for Apple.”
FILE PHOTO: New Apple CEO John Ternus holds the new foldable iPhone Duo during Apple’s event at the Steve Jobs Theater in Cupertino, California, U.S. September 9, 2026. REUTERS/Carlos Barria/File Photo · Reuters / REUTERS -
