In his first quarterly earnings call as Apple CEO, John Ternus saw Apple beat September-quarter earnings expectations, yet shares fell after hours as the outlook pointed to continued margin pressure from memory chip costs and Siri AI ramp-up. Apple guided gross margin to 45% to 46% for the December quarter, down from 47.9% in September, which had been helped by tariff refunds. Services growth is slowing with no clear rebound plan, and Ternus delegated some questions to CFO Kevan Parekh and COO Sabih Khan. Reviews of the revamped Siri AI are mixed, with the assistant seen as lagging behind leading chatbots.
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Related tickers and likely impact
AAPL
• NeutralApple Inc.
Relevance: medium
| Market | US stocks |
|---|---|
| Sector | Information Technology |
| Industry | Technology Hardware, Storage & Peripherals |
| Market cap | $5.1T |
| Close on 11/02/2026 | 338.32 |
| Change that session | -1.83% |
Impact is scored by AI from the headline and may be wrong. It is not investment advice.
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