Apple reports fiscal fourth-quarter results today after the closing bell, and Wall Street expects roughly $113.4 billion in revenue with earnings near $2 per share. The report lands at 4:30 p.m. ET, and chief executive John Ternus will host the conference call at 5:00 p.m. ET alongside chief financial officer Kevan Parekh.
What Wall Street expects from Apple today
Bloomberg consensus puts earnings at $2 per share on revenue of $113.46 billion, up from $1.85 and about $102.5 billion in the same quarter last year. Analyst estimates range from $1.93 to $2.08 per share, according to data compiled by AppleInsider.
Apple’s own guidance points to total revenue growth of 9 to 11 percent, which implies roughly $112 billion to $114 billion for the quarter. The company also guided gross margin to 47 to 48 percent.
Key numbers for Apple’s fiscal fourth quarter
| Metric | Estimate or figure |
| Earnings per share, consensus | $2.00 (Bloomberg); estimates $1.93 to $2.08 |
| Revenue, consensus | About $113.4 billion (Bloomberg) |
| Year-ago comparison | $1.85 EPS on roughly $102.5 billion revenue |
| Company revenue guidance | 9 to 11 percent growth, about $112 billion to $114 billion |
| Gross margin guidance | 47 to 48 percent |
| Fiscal Q3 2026 revenue, reported | $109.4 billion, up 16 percent year over year |
| Fiscal Q3 2026 iPhone revenue | $54.25 billion, up 21.7 percent |
Why this report matters
The September quarter includes launch-week sales of the iPhone 18 Pro, the Apple Watch Series 12, the Apple Watch Ultra 4, and AirPods 5. The iPhone Duo, which reached stores on October 23, falls outside the quarter and will not appear in today’s numbers.
Investors will listen for comments on memory pricing and component supply, two cost pressures executives flagged in July. Foreign exchange headwinds also trimmed the company’s outlook for iPhone revenue growth at that time.
Analyst expectations heading into the print
Bank of America projects $113 billion in revenue and $1.97 in earnings per share, slightly below consensus. The firm expects iPhone revenue of $56 billion, implying roughly 14 percent annual growth and a slowdown from the 22 to 23 percent pace of the prior three quarters.
Apple carries the largest weight in the S&P 500, so index fund holders share in whatever happens next. A retiree with $500,000 in a standard S&P 500 index portfolio holds roughly $35,000 in Apple exposure, and a 4 percent post-earnings move would swing that position by about $1,400 in a single session.
What to watch after today’s report
- Guidance for the December quarter, which includes holiday-season iPhone 18 Pro and iPhone Duo sales.
- Management commentary on memory costs, which pressured gross margin forecasts for the December quarter.
- Any update on supply constraints for Pro models heading into the holidays.
Bottom line
Expectations are high but not extreme, and the stock’s reaction will hinge on December-quarter guidance more than on the reported numbers. Conservative investors should treat any sharp move as an occasion to rebalance rather than a reason to chase the stock.
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