At its fourth-quarter fiscal 2026 earnings call on November 2, 2026, Apple (AAPL) reported record September-quarter revenue of $114.5 billion. Management highlighted three points: rising memory chip costs are squeezing gross margin and prompting price increases on Mac and iPad; the active device base exceeds 2.5 billion, supporting recurring services income; and tight capacity for advanced SoC chips is constraining shipments, though easing as more products move to 2-nanometer technology. Apple expects December-quarter revenue to grow 7% to 10% year over year, which it says would be the best quarter for revenue in company history. Ongoing R&D focuses on on-device AI and customized silicon design.
Summary written by Upside AI from the original article. Read the source for full details.
Read the original on Yahoo Finance ↗
Keywords
AAPLearningssemiconductorsartificial intelligence
Open a keyword to see other news on the same topic.
Related tickers and likely impact
AAPL
• NeutralApple Inc.
Relevance: low
| Market | US stocks |
|---|---|
| Sector | Information Technology |
| Industry | Technology Hardware, Storage & Peripherals |
| Market cap | $5.1T |
| Close on 11/03/2026 | 331.74 |
| Change that session | -1.94% |
Impact is scored by AI from the headline and may be wrong. It is not investment advice.
Related news
- What is holding Apple's stock back despite an impressive Q4?
Apple beat fiscal fourth-quarter earnings estimates and iPhone sales forecasts, yet its stock barely moved. Yahoo Finance's Brian Sozzi points to concerns about rising memory costs and their impact on profit margins, as raised by CEO John Ternus on the earnings call. Costs to add more AI features to Siri may also weigh on gross margins over the next few quarters, while services sales slowed slightly. Sozzi suggests Ternus is running the same playbook as former CEO Tim Cook, as new CEOs often do.
- Apple tried to 'sit out' AI, and now it's paying the price
Luke Kawa of Sherwood News and the show's hosts discuss Apple's latest quarterly earnings. He argues Apple has largely sat out the AI boom, and that slowing Google search trends are now showing up in Apple's results and weighing on its services business. China revenue missed expectations by about $1 billion, and the guidance was seen as the key takeaway, since the weaker news came on the call rather than in the press release. Turnus, leading his first earnings call, said memory prices are unprecedented and expected to rise further in the December quarter, and that Apple's memory purchasing obligations increased by 33 billion between the June and September quarters. After hours, Apple shares fell while semiconductor stocks rose.
- Apple earnings beat expectations, but rising chip costs worry investors
Apple's fiscal fourth-quarter revenue rose 12% to $114.5 billion and earnings reached $30.71 billion, or $2.10 per share, beating the $1.99 analysts expected, driven by record September-quarter iPhone sales. Part of the profit gain came from tariff refunds worth $0.05 per share, and gross margin reached 47.9%, though shares fell about 3% in after-hours trading. iPhone revenue rose 17.5% to $57.6 billion and Mac sales climbed almost 24%, while iPad fell 10.4% and wearables, home and accessories fell 7.9%; Greater China revenue rose 21%. For the December quarter, Apple expects revenue to rise 7% to 10%, but services growth to slow to 8–9% from 9.8% and gross margin to fall to 45–46% due to higher memory chip costs and the Siri AI rollout. Capital spending fell 29% to $9 billion over the fiscal year, while R&D rose 32% to $45.8 billion.
- Apple's Valuation Premium Confronts AI Jitters
Apple's shares have rallied in recent months, lifting its valuation to the highest since 2008 at about 36 times expected earnings over the next 12 months, nearly twice the S&P 500 according to Bloomberg data. Bloomberg Intelligence analyst Anurag Rana says investors are watching whether screen cracks and hinge problems could affect Apple's ability to meet strong demand, and how rising memory costs could squeeze margins. Apple has raised prices on its Pro, Pro Max, Mac and iPad lines, but not yet on the base iPhone, which is expected to launch early next year. Rana notes that AI data center demand for memory chips may reduce Apple's leverage over suppliers, though Apple may counter this by prepaying suppliers or signing long-term agreements. Oracle is raising $20 billion through equity and bonds to fund data center buildout and expects to become cash-flow positive over the next few years.
- Apple has turned into Wall Street's hedge against the AI trade: Chart of the Day
Apple has moved against chip stocks, rising on 30 of the 46 days the Philadelphia Semiconductor Index fell 2% or more, a much higher share than in past years. Its correlation with the chip index turned negative in July and hit a record low in September. Over the past four reported quarters, Amazon, Alphabet, Microsoft and Meta spent more than $600 billion on capital expenditures, while Apple spent about $10 billion. Apple still faces pressure from higher memory chip costs, which Bank of America says will weigh on iPhone margins, and the bank considers Wall Street's margin forecasts too high into next year.
- AI Has Made Flash Memory 5 Times More Expensive, and Apple Can’t Bully Its Memory Suppliers Anymore
According to The Wall Street Journal, the flash memory cost of the storage upgrade on an iPhone 17 Pro from its 256GB base rose from $15 to $66, as AI hyperscaler demand quintupled flash prices. The four biggest cloud buyers now purchase more than double Apple's NAND volume, and three of them have signed long-term contracts that guarantee suppliers high prices even if the market falls. TechInsights estimates Apple will spend about $25 billion on NAND this year, up from about $6 billion in 2025. Storage upgrades were once Apple's richest margin, at about 85%, but that cost gap is now narrowing. Apple reports fiscal fourth-quarter results on November 2 and has not disclosed its supplier contract terms.
Related markets
Latest news
- How much does Doji 9999 gold cost per tael today, November 4, 2026?
As of 7 a.m. on November 4, 2026, Doji listed SJC gold bars at 13.76 to 14.06 million VND per tael (buy-sell), down 60,000 VND per tael on both sides from the previous morning. Doji's Hưng Thịnh Vượng 9999 round gold rings traded at 13.55 to 13.95 million VND per tael (buy-sell). The article notes that the prices are for reference only and may change during the day.
- THE KOREA INDUSTRY DAILY: ROBOTWORLD 2026 to Spotlight Physical AI and AI-Driven Manufacturing With 402 Exhibitors From 17 Countries
ROBOTWORLD 2026 runs November 4 to 7 at KINTEX in Goyang, South Korea, with 402 companies from 17 countries across 1,198 booths, focusing on Physical AI and AI-driven manufacturing. The accompanying conference features 36 sessions on November 4 and 5 covering manufacturing, humanoid robots and mobility. According to the International Federation of Robotics, global industrial robot installations hit a record 603,307 units in 2025, up 11%, with Asia accounting for 76% (457,315 units). Korean firms Rainbow Robotics, Neuromeka and Samhyun will show humanoid robots, control technology and an autonomous transport robot with payloads of up to 3 metric tons. Business programs include export matchmaking on November 4 to 6, a market-entry seminar on November 5 and Global Scale-up Day on November 6 for SMEs and startups.
- Should You Buy Alphabet Stock After Anthropic Raised Its Google Commitment to $121 Billion?
Anthropic updated its IPO filing on Nov. 2, adding third-quarter results. As of Sept. 30, it held $95.6 billion in cash and equivalents and $36.3 billion in short-term investments, while its purchase commitments and leases totaled about $895.4 billion, mostly for compute and infrastructure. It committed to spend at least $121.3 billion with Google from April 2026 through July 2033 regardless of usage, up from about $114.5 billion in the previous filing, which equals around 22% of Google Cloud's backlog. Anthropic has $69.8 billion of commitments due in the next 12 months, which its cash and investments cover almost twice, while its third-quarter revenue reached about $17.0 billion against an operating loss of $567 million. The author sees the next few years of the Google commitment as solid revenue, treats later years as a bet on Anthropic's growth, and thinks Alphabet stock is still worth a look at its current price.
- Global Gold Prices Fall Again
Gold extended its losses on Nov. 3 after a brief rebound, as a stronger US dollar and rising Treasury yields weighed on the metal while investors awaited US midterm election results. Spot gold fell 0.5% to $3,927.49 an ounce after dipping as low as $3,893.31 during the session, and US December gold futures slipped 0.8% to $3,936.80. Oil prices dropped about 2% to a three-week low as markets weighed prospects for ending the conflicts in Ukraine and Iran. Analysts said a decisive Democratic win in both chambers could pressure the dollar and support gold, while CME FedWatch showed the probability of a Fed rate hike in December at 73%, down from 76% earlier that day. The World Gold Council cut its 2026 gold investment demand forecast to 200 tonnes from 400 tonnes but raised its forecast for central bank purchases, after central banks net bought 321 tonnes in the three months to the end of September.
- Gold holds near $3,930 as Iran talks, U.S. midterms shape outlook
Spot gold slipped marginally to $3,927.87 an ounce on Tuesday, holding near $3,930 as investors watched renewed U.S.-Iran diplomacy and awaited U.S. midterm election results. Silver fell 0.4% to $49.5750 an ounce, platinum rose 0.2% to $1,421.51, spot palladium gained 0.1% to $937.60, and the dollar index dropped 0.2% to 101.70. Oil traded within a range of around $5 a barrel as Washington and Tehran reviewed new proposals from mediators, following limited U.S. airstrikes on Iran's Qeshm Island the night before. The article notes gold fell almost 7% last month and is down around 25% since the conflict erupted in late February, as accelerating inflation prompted tighter monetary policy.
- Sensata : 3 Key Takeaways for Long - Term Investors
In its third-quarter 2026 earnings call on October 27, 2026, Sensata reported 7% year-over-year organic revenue growth and said it is using rising free cash flow to pay down debt. Net debt fell from US$2.6 billion at year-end 2024 to US$1.9 billion by September 2026. Its data center power and liquid cooling products generated US$27 million of revenue in 2025 and are expected to reach US$48 million in 2026, 76% growth. Management said new custom motor and aerospace wins, such as those for drones, reached a record, doubling last year's pace. Automotive margins are expanding despite softer vehicle production in China.
Get the briefing on Telegram or Zalo
Join the Upside Telegram channel or Zalo group for the Vietnam stocks and gold briefing at 8:00 and 19:00 (Vietnam time) on trading days, plus a weekly wrap on Saturday morning.