$AAPL · Apple Inc.
Apple filed an 8-K reporting Q4 FY2026 results for the quarter ended September 26, 2026. Revenue hit a September quarter record of $114.477B (+12% YoY), with diluted EPS of $2.10 (+14% YoY). Services reached an all-time high of $31.573B, and iPhone set a September quarter record at $57.583B. Full FY2026 revenue was a record $478.834B.
- Q4 revenue of $114.477B, up 12% YoY, a September quarter record.
- Diluted EPS of $2.10, up 14% YoY, including $0.05 favorable impact from tariff refunds.
- Services revenue reached an all-time high of $31.573B, up 10% YoY.
- iPhone revenue of $57.583B set a September quarter record, up 17% YoY.
- Full FY2026 revenue of $478.834B and net income of $132.175B were all-time records.
AAPL down 1.83% in regular session to $338.32; extended-hours last trade at $338.58 (+0.08% vs close) shows minimal reaction to the record results. The $4.94T market cap likely already priced in strong iPhone 18 cycle expectations.
Apple's largest-ever September quarter — with double-digit revenue and EPS growth, record Services, and a transformative iPhone Duo cycle — confirms the bull case for the $4.94T company entering the holiday season.
Apple's 12% top-line growth and 47.9% gross margin reinforce its premium positioning against hardware peers. Services at $31.6B quarterly run-rate continues to re-rate the business toward a higher-multiple software/services multiple.
Gross margin of 47.9% included ~1 percentage point from tariff refunds — a non-recurring tailwind. R&D expenses surged 32% YoY to $11.73B, reflecting heavy investment in the iPhone Duo and AI product cycle that must deliver.