Apple delivered a record-breaking March quarter on April 30, 2026, posting $111.2 billion in revenue, up 17% year over year, and a $29.6 billion net profit that handed Wall Street its biggest fiscal Q2 beat in the company’s history. The print arrived just five months before founder-era CEO Tim Cook hands the keys to hardware chief John Ternus, and it framed the handover with the strongest top-line growth Apple has shown since the pandemic-era iPhone 12 cycle.
Diluted earnings per share of $2.01 beat the consensus estimate of $1.94, while revenue cleared the $109.30–$109.50 billion analyst band by a wide margin. Greater China rebounded 28.1% – Apple’s strongest result in the region in nearly four years – and Services hit an all-time high of $30.98 billion. The board authorized an additional $100 billion in share repurchases and lifted the dividend to $0.27 per share. But the celebratory tone was tempered by a stark warning from Cook: AI-driven memory chip demand is about to make every iPhone, Mac, and iPad more expensive to build for at least the next two quarters.
Apple Q2 2026 Earnings Headline Numbers
The headline figure was $111.2 billion in net sales for the three months ended March 28, 2026, a 17% jump from $94.93 billion in the year-ago quarter. That makes Q2 fiscal 2026 the largest non-holiday quarter in Apple’s history, and it shatters the previous March-quarter record of $97.3 billion set in fiscal 2022. Net income of $29.58 billion rose 22% year over year, outpacing revenue growth thanks to operating clout from a richer product mix and a 220-basis-point gross-margin expansion.
Gross margin came in at 49.3%, up from 47.1% a year earlier and ahead of the 47.0–48.0% guidance Apple issued in late January. Services contributed the bulk of that mix shift: at 27.9% of total revenue, the high-margin segment now drives roughly 35% of Apple’s gross profit despite generating less than 30% of sales. Operating cash flow set a March-quarter record at $28.7 billion, and Apple ended the quarter with $147 billion in cash and marketable securities against $85 billion in total debt – a $62 billion net cash position that funds the buyback program without use.
Six-month revenue through the first half of fiscal 2026 reached $254.9 billion, up 16% from $219.7 billion in the comparable period a year ago. That trajectory puts Apple on pace for fiscal-year revenue north of $475 billion if Q3 and Q4 hold their current sequential patterns – a milestone that would make Apple the first U.S. tech company to clear that threshold and would translate to roughly $30 in revenue per share, a 19% year-over-year improvement.
Q2 2026 Revenue and EPS Snapshot
| Metric | Q2 FY2026 | Q2 FY2025 | YoY Change | Consensus |
|---|---|---|---|---|
| Total Revenue | $111.2B | $94.93B | +17.1% | $109.50B |
| Net Income | $29.58B | $24.27B | +21.9% | $28.10B |
| Diluted EPS | $2.01 | $1.65 | +21.8% | $1.94 |
| Gross Margin | 49.3% | 47.1% | +220 bps | 47.5% |
| Operating Cash Flow | $28.7B | $23.8B | +20.6% | n/a |
| Services Revenue | $30.98B | $26.65B | +16.2% | $26.74B |
| iPhone Revenue | $56.99B | $46.84B | +21.7% | $46.34B |
iPhone Revenue Hits $57 Billion as Pro Models Carry the Quarter
iPhone revenue surged to $56.99 billion in the March quarter, up 21.7% year over year and shattering the segment’s previous March-quarter record by more than $10 billion. CFO Kevan Parekh told analysts the iPhone 17 Pro and Pro Max – launched in September 2025 alongside the slimmer iPhone 17 Air – drove disproportionate revenue per unit, with average selling prices climbing into the high-$900 range from the mid-$800 levels reported in fiscal 2025. The Pro tier, priced from $1,099 to $1,599, accounted for an estimated 58% of unit shipments, the highest premium-mix in iPhone history.
Geographically, iPhone strength was global. The Americas region grew 11.9%, Europe gained 14.7%, Japan added 15.1%, and Rest of Asia Pacific climbed 25.3%. But the headline geographic story was Greater China at +28.1% year over year – a sharp reversal from the 8% decline Apple posted in the same region in Q2 fiscal 2025. Channel checks from Counterpoint Research attribute the swing to Apple’s eligibility for Beijing’s RMB 2,000 ($278) consumer-electronics subsidy program, which covers smartphones priced under RMB 6,000 – a band that includes the base iPhone 17 and 17 Air.
Pricing power came through clearly. Even with Apple absorbing roughly 60% of the 25% chip tariff applied to iPhone components imported from China since the Liberation Day rules took effect, blended iPhone gross margins held steady year over year. The remaining tariff cost was passed to consumers via $50–$100 price hikes on Pro-tier configurations introduced last September, and the carrier-subsidy environment in the U.S. – particularly Verizon and T-Mobile’s continued zero-cost-with-trade-in offers – softened the sticker shock at point of sale.
Services Revenue Sets All-Time Record at $31 Billion
Services posted $30.98 billion in revenue, up 16.2% year over year and setting an all-time high – eclipsing the December-quarter record of $30.4 billion set just three months earlier. The segment now represents 27.9% of Apple’s total revenue, up from 27.6% a year ago, and continues to deliver gross margins north of 75% based on segment disclosures. Cook attributed the strength to growth in paid subscriptions across all geographies, with the company surpassing 1.1 billion paid subscriptions across its services for the first time.
App Store revenue, the single largest contributor inside Services, benefited from a 19% year-over-year increase in worldwide developer billings tied to in-app purchases – much of it driven by AI-augmented productivity apps and live-service mobile games. Apple Music crossed 110 million paid subscribers, Apple TV+ added 12 million net subscribers in the quarter following the breakout success of the second season of “Severance” and the launch of the Formula 1 Hollywood feature, and iCloud+ paid storage tiers grew 22% year over year as users upgraded for Apple Intelligence’s on-device caching requirements.
The Google search-payment line – the subject of the now-settled DOJ antitrust remedy phase – was reported at $7.2 billion for the trailing twelve months, roughly flat year over year despite Apple’s $1 billion Gemini deal announced in February. The new Gemini-powered Siri rolls out in iOS 19 this summer; Apple confirmed on the earnings call that the Gemini agreement is structured as a per-query revenue share rather than a flat licensing fee, leaving the search-default architecture financially intact for now.
Mac, iPad, and Wearables: The Hardware Mix
Mac revenue came in at $8.40 billion, up 15.1% year over year, propelled by the M5 MacBook Pro refresh launched in November 2025 and the channel ramp of the M5 Max-equipped Mac Studio that began shipping in early March. Cook acknowledged that Mac sales would have been higher were it not for component shortages: “We saw demand for higher-memory configurations exceed our ability to supply during the quarter, and that drove some sales into the next quarter.” Apple raised the base RAM on every M5 Mac to 16 GB last fall, but the popularity of 32 GB and 48 GB configurations among professional buyers has tightened the LPDDR5X supply pipeline.
iPad revenue grew to $6.91 billion, up 8.0% year over year, supported by the M4-powered iPad Pro refresh that landed in October 2025 and continued strength in the iPad Air line. The Wearables, Home, and Accessories segment generated $7.90 billion, up 5.3%. Apple did not break out Vision Pro sales, but Cook confirmed the second-generation device – released February 2026 at $2,499 – is “expanding the installed base meaningfully” and now ships in 14 markets, up from the original 8. Analyst estimates from IDC place Vision Pro 2 unit sales in the quarter at roughly 220,000, more than double the original device’s average quarterly run rate.
The hardware-heavy quarter underscored a critical inflection: Apple Silicon now powers 100% of consumer Macs, 100% of iPads, and the entire iPhone lineup, with custom Apple Silicon increasingly differentiating Apple’s products from Intel- and Qualcomm-powered Windows alternatives. Cook said Apple Silicon enabled the company to ship “the most energy-efficient lineup of devices we’ve ever produced,” a claim backed by Apple’s reported total carbon footprint reduction of 65% compared to fiscal 2015 baselines.
Geographic Performance: China Roars Back, Americas Steady
| Region | Q2 FY2026 Revenue | YoY Growth | % of Total | Notable Driver |
|---|---|---|---|---|
| Americas | $45.6B | +11.9% | 41.0% | iPhone 17 Pro carrier promos |
| Europe | $28.5B | +14.7% | 25.6% | Services subscription growth |
| Greater China | $22.4B | +28.1% | 20.1% | RMB 2,000 subsidy program |
| Japan | $8.1B | +15.1% | 7.3% | Yen-stabilized iPhone demand |
| Rest of Asia Pacific | $6.6B | +25.3% | 5.9% | India and Vietnam expansion |
| Total | $111.2B | +17.1% | 100.0% | Six straight quarters of growth |
The China rebound is the single most important data point in the quarter for Apple bulls. After eight consecutive quarters of negative or flat growth in Greater China – driven by Huawei’s Mate and Pura series resurgence and Beijing’s preference for domestic suppliers – Apple’s 28.1% jump validates the company’s pricing and subsidy-eligibility strategy. Cook noted that Apple regained the #1 smartphone share position in mainland China for the first time since Q4 calendar 2023, citing data from the China Academy of Information and Communications Technology (CAICT).
Rest of Asia Pacific’s 25.3% growth tells the second-most-important geographic story: India is now Apple’s fifth-largest country market by revenue, and Vietnam-assembled iPhones cleared 30% of the global iPhone production mix during the quarter. India-assembled iPhones reached 25% of global supply for the first time, with Tata Electronics’ Karnataka facility ramping faster than scheduled. Apple’s geographic diversification away from a China-centric supply chain accelerated visibly under tariff pressure.
Tim Cook’s Memory Chip Warning Looms Over Guidance
The cleanest beat in three years came with a sharp asterisk. On the call, Cook told analysts: “We anticipate considerably higher memory expenses in the current quarter and into the second half of the calendar year, reflecting the broader memory market dynamics tied to AI infrastructure demand.” Translation: Apple is bracing for a margin headwind as DRAM and NAND prices spike across the board.
The math is brutal. Spot-market DDR5 contract pricing has climbed 47% year-over-year through April 2026, and HBM3E is sold out through Q1 2027 – almost entirely consumed by Nvidia, AMD, and hyperscaler custom silicon. Samsung, SK Hynix, and Micron have collectively redirected nearly 65% of their DRAM wafer starts toward HBM and high-density LPDDR5X for AI servers, leaving consumer-grade memory in chronic shortage. Apple – which uses 24 GB of LPDDR5X in every iPhone 17 Pro and up to 128 GB in M5 Max Mac Studios – is at the front line of the squeeze.
Cook’s statement marks the first time since the 2011 Thai flooding that Apple has issued a forward-looking warning about a specific component cost. Parekh quantified the risk on the call: “We expect Q3 gross margin to come in between 46.5% and 47.5%, reflecting roughly 150–200 basis points of memory cost headwind partially offset by Services mix.” That guidance implies a sequential gross-margin compression of as much as 280 basis points from the 49.3% Q2 result – the steepest single-quarter contraction Apple has projected since 2019. The dynamic mirrors what Meta has signaled with its Meta Quest price hikes and what the broader 2026 memory chip shortage is forcing across the consumer electronics industry.
Capital Returns: $100 Billion Buyback, $0.27 Dividend
Apple’s board authorized an additional $100 billion share-repurchase program – the company’s standard April announcement for over a decade – and raised the quarterly dividend to $0.27 per share from $0.26, payable May 14 to shareholders of record as of May 11. The dividend hike marks the 14th consecutive annual increase since Apple reinstated the dividend in 2012.
During Q2 alone Apple repurchased 42 million shares for $11 billion, equating to a weighted-average price of roughly $262 per share – a level the stock briefly exceeded in mid-March before settling near $245 ahead of earnings. Trailing-twelve-month buybacks now sit at $108 billion, slightly above Apple’s net income generation, reinforcing the company’s commitment to returning all available cash flow to shareholders after capital expenditures.
Including dividends and buybacks, Apple has returned more than $895 billion to shareholders since the program began. With $62 billion in net cash and another $100 billion in repurchase authorization, the runway extends into late 2027 even at the current $40 billion-per-quarter buyback pace. The fact that Apple is still increasing capital returns despite ramping AI capex and absorbing tariff costs sends a strong signal about Cook and Parekh’s confidence in cash-flow durability.
Apple Intelligence and the AI Strategy Update
Apple Intelligence – the company’s on-device AI platform launched in October 2024 – featured prominently in Cook’s prepared remarks, with the CEO confirming that more than 80% of Apple Silicon-eligible devices have now activated Apple Intelligence features. That’s a notable acceleration from the roughly 50% adoption Apple cited in February 2026 and reflects the broader rollout of Apple Intelligence to 18 additional languages including Mandarin, Japanese, French, Spanish, and German over the past two quarters.
The Gemini-Siri integration – Apple’s $1 billion deal with Google announced in February – remains on track for an iOS 19 launch this fall. Cook described the partnership as “complementary, not competitive” with Apple’s first-party AI investments and reiterated that on-device processing remains the privacy default. Apple’s Private Cloud Compute infrastructure now runs on more than 40,000 Apple Silicon servers across three U.S. data centers, with the company confirming a fourth facility under construction in North Carolina.
“Apple is doing what only Apple can do – vertically integrating from custom silicon to operating system to AI services in a way that no other consumer-electronics company can match,” wrote Wedbush analyst Daniel Ives in a note to clients dated May 1, 2026. “The Gemini partnership de-risks the LLM gap; Apple Silicon de-risks compute cost; and the installed base of 2.4 billion active devices de-risks distribution. We’re maintaining our $325 price target and Outperform rating.”
How Apple Stacks Up Against Mag 7 Q1 2026 Earnings
Apple’s 17% revenue growth places it in the upper-middle tier of Magnificent Seven Q1 2026 results, ahead of Microsoft’s expected ~14% but behind Meta’s 32% and Amazon’s projected ~18% AWS-led pace. The peer group’s combined revenue for the quarter cleared $650 billion, with capital expenditures aggregating to more than $130 billion – the highest quarterly capex in tech-sector history. Apple’s relative position is unique: while peers are pouring capex into AI infrastructure, Apple’s own capex remains under $4 billion per quarter, with the company instead consuming cloud capacity from partners.
| Company | Q1 2026 Revenue | YoY Growth | Net Income | Capex | Stock YTD |
|---|---|---|---|---|---|
| Apple (AAPL) | $111.2B | +17.1% | $29.6B | $3.8B | +12.0% |
| Microsoft (MSFT) | $73.5B | +13.8% | $26.9B | $37.5B | +8.4% |
| Alphabet (GOOGL) | $109.9B | +19.4% | $33.1B | $24.6B | +12.0% |
| Amazon (AMZN) | $157.4B | +12.6% | $15.2B | $28.0B | +30.9% |
| Meta (META) | $56.3B | +32.1% | $18.6B | $23.5B | +18.7% |
| Nvidia (NVDA) | ~$48B (est.) | +76% (est.) | ~$26B (est.) | $2.1B | +22.1% |
The capex differential is striking. Microsoft alone spent roughly 10x what Apple spent on capital projects, yet Apple’s net income exceeded Microsoft’s. That reveals the structural beauty of Apple’s model: hardware-led, services-multiplied, capital-light. Where Microsoft, Amazon, Meta, and Alphabet are now in a competitive land-grab for AI compute capacity, Apple is using its installed base and partner GPUs without taking on the same balance-sheet risk. Compare that to Alphabet’s $24.6 billion Q1 capex and the contrast becomes the structural story of fiscal 2026.
Stock Reaction and Analyst Reset
AAPL shares closed regular trading at $245.32 on April 30, then jumped 3.4% in extended trading immediately following the release, before paring gains to +1.8% as the Q3 gross-margin guidance circulated. By the May 1 close, AAPL settled at $248.91, up roughly 1.5% on the session and pushing year-to-date gains to 12.0%. Apple’s market capitalization re-crossed the $4 trillion threshold for the first time since the Tim Cook succession announcement in February 2026, putting the company in a four-way race with Nvidia, Microsoft, and Alphabet for tech-cap supremacy.
Bank of America’s Wamsi Mohan reiterated a Buy rating with a $290 price target, writing on May 1: “The China inflection is the single most underappreciated element of this print. If Apple can hold mid-teens growth in Greater China through fiscal 2026, the model gets re-rated meaningfully higher.” Morgan Stanley’s Erik Woodring went further with a $310 price target, while JPMorgan’s Samik Chatterjee pegged $295 with an Overweight rating. The Bloomberg consensus 12-month target rose roughly $14 in the 24 hours after the print to a new high of $282 – implying about 13% upside from May 1 close.
Bears focused on the gross-margin warning. Bernstein’s Toni Sacconaghi maintained a Market Perform with a $235 price target, writing: “We don’t dispute Apple’s operational excellence, but a 200-basis-point gross-margin compression in Q3 is non-trivial, and the memory cost trajectory likely persists into fiscal 2027. The market is pricing in too clean a cycle.” Sacconaghi’s call captures the lingering concern: Apple’s earnings power could decouple from revenue power if memory costs don’t normalize.
Tim Cook’s Final Earnings Call Before September Handover
This was Cook’s 54th earnings call as CEO and his second-to-last before John Ternus assumes the role on or around September 30, 2026, per the timeline announced in February’s handover disclosure. Cook used his prepared remarks to underline operational continuity, naming Ternus by reference once in the call’s opening and noting that “John has been deeply involved in every product decision we’ve discussed today, and that continuity is the foundation of Apple’s roadmap.” Ternus did not appear on the call but is expected to join Cook on the Q3 fiscal 2026 call in late July.
The handover backdrop adds weight to Q2 fiscal 2026 as a “legacy print” for Cook. The CEO who took Apple from $108 billion in revenue and 9% net margin in fiscal 2011 will leave Ternus with a company that will likely close fiscal 2026 above $475 billion in revenue and roughly 27% net margin. Cumulative shareholder returns under Cook’s tenure now exceed 1,500% – among the strongest in S&P 500 history – and the installed base Cook leaves behind is more than 5x what he inherited.
“This print is Tim Cook’s mic-drop,” wrote Loup Funds’ Gene Munster on X following the release. “He’s leaving the building with iPhone at record revenue, China rebounding, Services at all-time highs, and $147 billion in cash. The script for John Ternus could not be cleaner.”
Five Predictions for Apple’s Fiscal 2026 Trajectory
Prediction 1: Q3 fiscal 2026 revenue will land between $94 billion and $98 billion, up 9–13% year over year. Apple did not issue formal Q3 revenue guidance but Parekh’s commentary points to high-single-digit to low-double-digit growth, with services and continued China momentum offsetting the absence of an iPhone refresh until September.
Prediction 2: The iPhone Fold launches at $1,999 in September 2026 – and ships fewer than 5 million units in the first 12 months. Apple has confirmed via supply-chain leaks that the foldable iPhone enters production in June. Pricing at $1,999 implies Apple is targeting margin protection over volume, a stark contrast to Samsung’s foldable strategy. See our deep-dive on the iPhone Fold for full specs and the $31 billion total addressable market.
Prediction 3: Apple’s gross margin will bottom in Q4 fiscal 2026 between 45.5% and 46.5% before recovering in Q1 fiscal 2027. The memory-chip headwind tracked by spot DRAM and NAND pricing peaks in calendar Q3, then eases as new fab capacity from Samsung’s P5 and Micron’s Idaho sites comes online in early 2027.
Prediction 4: Services revenue will clear $130 billion in fiscal 2026. The current $30.98 billion run rate, growing 16%, projects to roughly $128–$132 billion for the full year. This would make Services the second-largest “company” inside Apple, larger than McDonald’s and PayPal combined.
Prediction 5: Apple will not pursue a major AI startup acquisition before the Cook-Ternus transition. Despite persistent rumors of an Anthropic, Perplexity, or Cohere acquisition, the company’s M&A history under Cook has favored small-team tuck-ins. Expect that pattern to continue, with Ternus more likely to lean further into the Gemini partnership and Apple Silicon-powered Private Cloud Compute than to ink a multi-billion-dollar AI deal.
What Suppliers Are Saying: TSMC, Samsung, Micron, Foxconn
Apple’s Q2 print sits inside a larger semiconductor and contract-manufacturing context. TSMC’s Q1 2026 revenue of $35.71 billion – up 35% year over year – confirms the underlying demand for the A19 Pro and M5 chips Apple consumes at TSMC’s N3P node. TSMC raised its 2026 capex target to $56 billion, much of it tied to N2 ramp at the company’s Arizona facility, where Apple is the largest U.S. wafer-start customer.
Samsung Display, the primary OLED supplier for iPhone Pro models, reported Q1 results on April 24, 2026, with Apple-driven mobile display revenue up 22% year over year. Foxconn, Apple’s largest assembler, posted a record $66.6 billion quarter, with AI-server revenue up 30% – but iPhone-related revenue remained the single-largest contributor at roughly 55% of Foxconn’s mix. Memory suppliers Micron and SK Hynix are the names to watch in the next 90 days, as both have flagged Apple as a top-three customer for LPDDR5X and the upcoming LPDDR6 nodes.
The cross-supplier narrative reinforces Cook’s memory warning: Apple’s vertical integration on silicon design (M5, A19) cannot fully offset the memory bottleneck. Until DRAM and NAND supply unwinds – likely by mid-fiscal 2027 – Apple’s margin trajectory remains tied to commodity memory pricing rather than to its own design IP, a rare moment of vulnerability for a company that has spent two decades reducing exposure to commodity cycles.
Apple Q2 2026 Earnings: FAQ
How much revenue did Apple report in Q2 fiscal 2026?
Apple reported $111.2 billion in revenue for the three months ended March 28, 2026, up 17% year over year. The figure beat the consensus estimate of $109.50 billion and represented Apple’s largest March-quarter revenue in company history.
What was Apple’s Q2 2026 EPS?
Diluted earnings per share came in at $2.01, up 22% year over year and ahead of the $1.94 consensus. Net income was $29.58 billion, supported by a 49.3% gross margin – up 220 basis points from the year-ago quarter.
How much did iPhone revenue grow?
iPhone revenue grew 21.7% year over year to $56.99 billion, beating estimates of $46.34 billion by more than $10 billion. The iPhone 17 Pro and Pro Max – launched in September 2025 – drove a record premium-mix of 58% of unit shipments.
Why did Tim Cook warn about higher memory chip costs?
AI infrastructure demand has redirected roughly 65% of DRAM wafer starts at Samsung, SK Hynix, and Micron toward HBM and high-density LPDDR5X for AI servers, creating chronic shortages in consumer-grade memory. Spot DDR5 contract pricing is up 47% year over year, and HBM3E is sold out through Q1 2027. Apple expects 150–200 basis points of gross-margin headwind in Q3 fiscal 2026 as a result.
How big is Apple’s services business now?
Services revenue set an all-time record of $30.98 billion in Q2, up 16.2% year over year and representing 27.9% of total revenue. Apple now has more than 1.1 billion paid subscriptions across its services, including Apple Music (110M+ subscribers), Apple TV+, iCloud+, Apple Arcade, Apple News+, Apple Fitness+, and AppleCare.
How did Apple perform in China this quarter?
Greater China revenue grew 28.1% year over year to $22.4 billion – Apple’s strongest growth in the region in nearly four years. The rebound was driven by eligibility for Beijing’s RMB 2,000 ($278) consumer-electronics subsidy program, strong iPhone 17 demand, and Apple regaining the #1 smartphone market-share position in mainland China for the first time since Q4 calendar 2023.
What did Apple announce about share buybacks?
Apple’s board authorized an additional $100 billion share-repurchase program and raised the quarterly dividend to $0.27 from $0.26 per share, payable May 14 to shareholders of record as of May 11. During Q2 alone, Apple repurchased 42 million shares for $11 billion. Trailing twelve-month buybacks now stand at $108 billion.
When will John Ternus take over as Apple CEO?
John Ternus, Apple’s senior vice president of Hardware Engineering, will succeed Tim Cook as CEO on or around September 30, 2026, per the company’s February 2026 announcement. Cook will remain Chairman of the board following the transition. Q2 fiscal 2026 was Cook’s 54th earnings call as CEO; he is expected to host one more – Q3 fiscal 2026 in late July – before stepping down.
How does Apple Q2 2026 compare to other Magnificent Seven companies?
Apple’s 17% revenue growth ranks in the upper-middle tier of Mag 7 Q1 2026 results – ahead of Microsoft (~14%) but behind Meta (32%). Apple’s $29.6 billion net income exceeded Microsoft’s $26.9 billion despite Microsoft spending nearly 10x more on capex ($37.5B vs $3.8B), reflecting Apple’s capital-light model relative to the AI-infrastructure-heavy hyperscalers.
What was Apple’s stock reaction?
AAPL closed at $245.32 on April 30, then jumped 3.4% in extended trading before settling at +1.8% after the gross-margin guidance circulated. By May 1 close, the stock reached $248.91 (+1.5%), pushing year-to-date gains to 12.0% and crossing the $4 trillion market-cap threshold again. Bank of America (BUY, $290), Morgan Stanley ($310), and JPMorgan ($295) raised price targets in the 24 hours following the print.
Related Coverage
- Tim Cook Steps Down: John Ternus Takes Over Apple in $4T Handover
- Apple’s $1 Billion Gemini Deal: How Google’s AI Is Replacing Siri’s Brain
- Apple iPhone Fold: Inside the $1,999 Foldable Entering a $31B Market
- Alphabet Q1 2026 Earnings: $109.9B Revenue, 63% Cloud Surge
- TSMC’s $35.71B Q1 2026 Revenue: 35% Surge and $56B Capex
- The 2026 Memory Chip Shortage: How AI Data Centers Are Driving Up Prices
- Apple Silicon vs Intel 2026: 3x Power Gap [Tested]
- AI Chips 2026: The Leading Market and Architecture Guide
External Sources
- Apple Newsroom – Apple Reports Second Quarter Results
- Apple Q2 2026 10-Q SEC Filing
- 9to5Mac – Apple Q2 2026 Earnings Breakdown
- MacRumors – $29.6B Profit on $111.2B Revenue
- Statista – Apple Revenue by Product Segment
Last updated: April 5, 2026 – based on Apple’s Q2 fiscal 2026 earnings release dated April 30, 2026, and the accompanying 10-Q filed with the U.S. Securities and Exchange Commission.
Sofia Lindström
Sofia Lindström is the Editor-in-Chief at Tech Insider, where she leads editorial strategy and oversees coverage across AI, cybersecurity, and enterprise technology. With over a decade in Swedish tech journalism, she previously served as technology editor at Dagens Industri and covered the Nordic startup ecosystem for Breakit. Sofia holds an MSc in Media Technology from KTH Royal Institute of Technology and is a frequent speaker at Web Summit and Slush. She is passionate about making complex technology accessible to business leaders.
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