Apple (AAPL) Q2 2026 earnings report

Apple stories fiscal second-quarter earnings on Thursday, its first time going through Wall Street because the announcement final week that Tim Cook can be stepping down as CEO after 15 years on the job.

Here’s what traders predict, in line with LSEG consensus estimates.

• EPS: $1.95
• Revenue: $109.7 billion

Wall Street can be these key areas:

• iPhone income: $56.7 billion anticipated, in line with StreetAccount
• Mac income: $8.16 billion anticipated, in line with StreetAccount
• iPad income: $6.71 billion anticipated, in line with StreetAccount
• Wearables, Home and Accessories income: $7.8 billion anticipated, in line with StreetAccount
• Services income: $30.4 billion anticipated, in line with StreetAccount
• Gross margin: 48.4%

Analysts count on 15% year-over-year income development at Apple from $95.4 billion a 12 months earlier. The predominant driver is the iPhone, with Wall Street in search of a 20% leap in annual gross sales, thanks largely to the recognition of the iPhone 17, which went on sale last year.

In March, Apple announced quite a lot of new merchandise, together with its iPhone 17e, a refreshed iPad Air laptop computer with an M4 chip in 11-inch and 13-inch sizes. But the largest shock was the MacE book Neo, a low-cost laptop computer priced at $599 and geared toward college students and budget-conscious shoppers.

While system gross sales are at all times key to Apple’s outcomes, prime of thoughts for Wall Street is what to anticipate from incoming CEO John Ternus. Apple introduced final week that Ternus is succeeding cookwho will develop into government chairman on Sept. 1. Ternus is a longtime Apple exec who’s been operating {hardware}.

One of the primary issues Ternus has to figure out is the place Apple goes to go along with synthetic intelligence. Early within the quarter, Apple introduced it might partner with Google to make use of its Gemini AI mannequin to energy its Siri product.

Apple has spent a lot much less on AI expertise than friends like Goal, amazon, Alphabet and Microsoftthat are collectively spending nicely over half a trillion {dollars} this 12 months on AI infrastructure.

The world memory crunch is also an enormous matter on the earnings name.

All of Apple’s gadgets, together with the iPhone, Mac and iPad, use a whole lot of storage and reminiscence, elevating questions on how the corporate plans to deal with elevated reminiscence costs from AI demand. Meta and Microsoft mentioned Wednesday that greater reminiscence costs contributed to their increased capex forecasts for the 12 months.

Apple has thus far been in a position to stave off any vital worth hikes for its key gadgets.

“We believe Apple has memory costs well under control based on its recent product launches,” analysts at Evercore ISI wrote in a be aware this week.

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