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Apple prepares to report fourth-quarter earnings, marking the first earnings call for new CEO John Ternus as investors focus on iPhone 18 sales and rising memory costs.
Apple is scheduled to report its fourth-quarter earnings after the bell today, providing investors with a glimpse of early iPhone 18 Pro sales. This report marks the first earnings call for the company's new CEO, John Ternus, who took over the role from Tim Cook on Sept. 1.
According to Bloomberg analyst consensus estimates, Apple is expected to report revenue of $113.46 billion and earnings per share (EPS) of $2. In the same period last year, the company reported revenue of $102.46 billion and EPS of $1.85.
Specific segment projections include:
The report will include only the first nine days of sales for the iPhone 18 Pro and Pro Max, which launched Sept. 18. The iPhone Duo went on sale Oct. 23, missing Apple's fiscal Q4. The iPhone 18 Pro starts at $1,199, while the 18 Pro Max costs $1,299. These prices represent a $100 increase from the $1,099 for the 17 Pro and $1,199 for the 17 Pro Max with 256GB of storage.
Apple recently regained the position of the most valuable US-listed company on Oct. 30, closing at approximately $5.03 trillion, which was nearly $100 billion more than Nvidia (NVDA). This was Apple's first closing lead since July.
Apple is currently contending with an AI-driven memory and storage shortage, which has led the company to raise prices on several products, including Macs and iPads. On a July 30 call, Tim Cook stated that Apple "reluctantly raised prices" because "we’re in what I would characterize as a 100-year flood on the memory pricing."
Additionally, Michael Khouw of CNBC reports that while iPhone average selling prices (ASPs) will likely rise, unit shipments are expected to fall due to recent price hikes and tougher year-over-year comparisons. There are also unconfirmed reports regarding "issues" with Apple’s highly anticipated foldable screens.
Investors are monitoring Apple's performance in Greater China. In Q3, Apple's revenue in Greater China reached $18.82 billion. Through the first nine months of fiscal 2026, revenue in that region has already exceeded the total for all of fiscal 2025. In December, Apple Intelligence is expected to reach mainland China, potentially utilizing an Alibaba Group (NYSE:BABA) model, Qwen, to run Siri features.
Sources
This article was drafted with AI assistance and checked against the sources above. Company claims are reported as claims. Cover image is AI-generated.
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