Apple September-Quarter Sales Growth Cools to 12%

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• AAPL

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Apple (AAPL) posted quarterly revenue of $114.5 billion for the fiscal 2026 fourth quarter ended September 26, 2026, a September-quarter record that was up 12 percent from a year earlier. [1] Year-over-year growth slowed from 16 percent in the June quarter and 17 percent in the March quarter. [1][2][3] Diluted earnings were $2.10 a share, up 14 percent, including a $0.05 favorable impact from tariff refunds. [1]

Company gross margin was 47.9 percent, including a favorable impact of about 1 percentage point from tariff refunds, down from 50.1 percent in the June quarter, when the refund benefit was about 2 percentage points. [1][2] Net income was $30.7 billion. [4]

iPhone remained the largest product category. iPhone revenue reached a September-quarter record of $57.6 billion, up 17 percent from $49.0 billion a year earlier, and accounted for about half of total net sales. [1][4] Products net sales overall were $82.9 billion. [4]

Services revenue hit an all-time high of $31.6 billion, up 10 percent from $28.8 billion a year earlier, and accounted for about 28 percent of the quarter’s net sales. [1][4] Mac revenue rose to $10.8 billion from $8.7 billion a year earlier. iPad fell to $6.2 billion from $7.0 billion, and Wearables, Home and Accessories declined to $8.3 billion from $9.0 billion. [4]

By geography, Greater China net sales rose to $17.5 billion from $14.5 billion a year earlier. Americas sales were $48.7 billion, Europe $32.0 billion, and Rest of Asia Pacific $9.7 billion. Japan slipped to $6.5 billion from $6.6 billion. [4]

Operating income was $35.6 billion. Research and development expense was $11.7 billion. Selling, general and administrative expense was $7.5 billion. [4]

Chief executive John Ternus said the September-quarter records for revenue and iPhone capped off the company’s best fiscal year ever. [1] Chief financial officer Kevan Parekh said Apple delivered September-quarter records for net income and EPS, and that the record September quarter capped off a strong fiscal 2026, with all-time record revenue of $479 billion and double-digit EPS growth. [1] Parekh said the company generated $28 billion in operating cash flow during the quarter and returned $28 billion to shareholders. [1] The board declared a cash dividend of $0.27 a share, unchanged from the amount declared after the June and March quarters. [1][2][3]

Ternus said Apple is closing the year with a lineup that includes the iPhone Duo, iPhone 18 Pro and iPhone 18 Pro Max, new home hardware, Touch on Mac and all-new Siri AI. [1] Parekh said the installed base of active devices reached a new all-time high across all major product categories and geographic segments. [1]

Citations

citations[4]{marker,ticker,item,date,accession,source}:
  1,AAPL,ex_99_1,2026-11-02,0000320193-26-000024,filing
  2,AAPL,ex_99_1,2026-11-02,0000320193-26-000024,filing
  3,AAPL,ex_99_1,2026-11-02,0000320193-26-000024,filing
  4,AAPL,ex_99_1,2026-11-02,0000320193-26-000024,filing