Apple's Q4 2026 Earnings Call Takeaways

Apple held its net call for the 4th fiscal 4th of 2026 today, and it was Apple CEO John Ternus' archetypal net telephone successful his caller role. He had Apple CFO Kevan Parekh connected hand, and helium brought successful Chief Operating Officer Sabih Khan.


The trio covered iPhone Duo sales, Siri AI, and expanding representation costs, among different topics.

iPhone Duo

After the net release, Ternus told Reuters that Apple isn't capable to conscionable request for the ‌iPhone Duo‌, and there's nary connection connected when supply/demand equilibrium volition beryllium reached.

Ternus besides acknowledged show issues and said a "very tiny percentage" of units person been returned.

iCloud+

Ternus reiterated Apple's plans to adhd usage limits connected server-side AI features similar ‌Siri‌ AI and photograph editing. Users who request much capableness volition beryllium capable to acquisition expanded access, but there's inactive nary pricing accusation oregon details connected the limits included with each iCloud+ plan.

When asked astir token consumption, Parekh said it's inactive aboriginal days connected however overmuch is done on-device vs. with Private Cloud Compute.
The premix of [on-device and unreality Siri] is precise aboriginal days, and truthful it's hard to foretell precisely what the premix of those costs are going to look like. Obviously, connected device, you know, it's precise very efficient. No existent costs associated with that. But connected the server side, we person immoderate inference costs.

I deliberation again, we've conscionable precocious launched it and made it disposable to much users. And truthful we're successful the precise very aboriginal stages of knowing the benignant of premix of those costs, arsenic good arsenic further requirements we mightiness person connected the compute side.

Siri AI

Ternus said Apple has existent country to grow ‌Siri‌'s capabilities implicit time, and that Apple wants customers to beryllium alert of what AI agents person entree to.
As acold arsenic agentic capabilities, you know, we deliberation these are promising tools for users. We conscionable privation to marque definite that users are alert of what they're giving entree to. We privation to marque definite this is done successful a mode that protects information and privacy. So, you know, we're pushing truly hard connected that with Siri AI, but we're besides truly encouraged the information that Apple devices are the champion places to usage each forms of AI.
He besides said Apple's privateness absorption differentiates it from different AI providers.
I mean, if you deliberation astir it, truthful overmuch of your idiosyncratic information is connected your iPhone. You know, whether it's your contacts, your communications, wellness data, fiscal data, each of that, and Siri tin pat into that and assistance you entree it successful a mode that's precise unafraid and private, and that cipher other has entree to. Even Apple doesn't person entree to it, and truthful we deliberation that is simply a halfway benignant of differentiator that we're excited about, and we're going to proceed to propulsion connected that.

iOS and macOS Merging

With the MacBook Pro gaining a interaction display, an expert asked if we're going to spot a azygous unified operating strategy successful the future.

Ternus said Apple tries to marque the champion mentation of each and each product, portion besides adding features similar Handoff that span crossed devices, but the institution has nary plans to marque large changes.
If you look astatine what we did past week with the MacBook Pro, we took a immense leap forward. These MacBook Pros are amended successful each mode than the ones that came earlier them, and we're truly arrogant of that. And truthful we don't person immoderate fundamentally antithetic changes that we're readying close now. Nor would we speech astir it anyway.

China

Revenue successful Greater China was up 21 percent during the quarter, which was a quarterly record. Performance was chiefly driven by the iPhone and the Mac.

Install Base

Apple has much than 2.5 cardinal progressive devices.

Memory

Ternus said the representation concern is "unprecedented," and Apple expects adjacent higher representation costs successful the December quarter. Price increases successful June and September offset immoderate of the increase, arsenic bash little costs from immoderate non-memory components and carry-in inventory.

Beyond the December quarter, Apple thinks memory prices volition proceed to increase.

Supply Constraints

iPhone, iPad, and Mac were constrained successful the September quarter, which Khan said was driven by request combined with constricted availability of the precocious nodes SoCs are produced on. He said constraints connected precocious nodes are easing with the modulation of much of the lineup to 2nm chips.

iPhone

iPhone gross was $57.6 billion, up 17 percent twelvemonth implicit twelvemonth and a caller September 4th record.

Ternus was asked wherefore Apple didn't merchandise a modular iPhone 18 alongside the iPhone 18 Pro, Pro Max, and ‌iPhone Duo‌, but helium skirted the question.

Mac

Revenue was $10.8 billion, up from $8.7 billion, contempt proviso constraints. Full-year Mac gross was $37.9 billion, up from $33.7 cardinal successful 2025. Ternus said Apple has ne'er sold much Macs successful a fiscal twelvemonth than it did successful 2026.

iPad

‌iPad‌ gross was down successful the quarter, coming successful astatine $6.2 billion, down from $7 cardinal successful the year-ago quarter. Apple said gross was down due to the fact that of proviso constraints and a hard comparison against the motorboat of the A16 ‌iPad‌ past year.

Services

Services gross deed $31.6 billion, up from $28.8 cardinal successful the year-ago quarter, and a caller all-time record. In 2026, services gross was $123.3 billion.

The App Store saw a grounds fig of astir a cardinal mean play visitors, and Apple saw maturation successful the fig of users who are paying for astatine slightest 1 service.

Wearables

Wearables, Home, and Accessories gross was $8.3 billion, down 8 percent twelvemonth implicit year. There was a hard comparison against the motorboat of the Apple Watch SE 3 and AirPods Pro 3 successful 2025.

The caller Apple TV 4K, the HomePod mini, and the Apple HomeView didn't vessel during the September quarter.

December Quarter

Apple expects gross to turn 7 to 10 percent twelvemonth implicit year, starring to the champion 4th for gross successful Apple's history. Services gross is expected to turn betwixt 8 and 9 percent.

Gross borderline is expected to beryllium betwixt 45 and 46 percent, impacted by higher representation costs and costs related to the ramp of ‌Siri‌ AI.

Apple expects constraints connected the Mac and ‌iPad‌ successful the December quarter, chiefly driven by representation due to the fact that request has been higher than expected.
This article, "Apple's Q4 2026 Earnings Call Takeaways" archetypal appeared connected MacRumors.com

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