Apple Stock Earnings Reports

Apple reported a record quarter for fiscal Q1 2026 with $143.8 billion in revenue, up 16% year-over-year, driven primarily by an exceptional iPhone cycle (iPhone revenue $85.3B, +23%) and all-time records across multiple geographies including The Americas, Europe, Japan, Greater China, and India. Services hit an all-time revenue high of $30 billion (+14%) with broad-based strength across advertising, music, cloud and payments. The installed base surpassed 2.5 billion active devices. Company gross margin reached 48.2% (above guidance), product gross margin improved materially, and operating cash flow set an all-time record of $53.9 billion. Management highlighted supply constraints in Q2 tied to advanced-node SoC capacity and rising memory prices (expected to pressure gross margin in Q2, which is reflected in guidance). Apple emphasized continued investment in AI (launching Apple Intelligence features and collaborating with Google on next‑generation foundation models), ongoing capital deployment (nearly $32 billion returned to shareholders in the quarter), and strong strategic progress in the U.S. manufacturing investments. For March quarter guidance, Apple expects revenue growth of 13%–16% year-over-year, gross margin of 48%–49%, operating expenses roughly $18.4–18.7 billion, and a tax rate around 17.5%.