Abstract:
On November 3, Apple released its fourth quarter and full-year financial reports for fiscal year 2026 today. After the financial report was released, Apple CEO John Ternus, CFO Kevan Parekh and COO Sabih Khan attended the conference call to answer questions from analysts.
This is the first time Ternus has hosted an Apple conference call as CEO. The following are the highlights of Apple’s fourth quarter earnings report and conference call:
——Total revenue in the fourth fiscal quarter was US$114.477 billion, an increase of 12% from US$102.466 billion in the same period last year; net profit was US$30.711 billion, an increase of 12% from US$27.466 billion in the same period last year.
——Greater China (Mainland China, Hong Kong and Taiwan) fourth-quarter revenue was US$17.539 billion, an increase of 21% from US$14.493 billion in the same period last year;
——Revenue in fiscal year 2026 was US$478.834 billion, an increase of 15% from US$416.161 billion in fiscal year 2025; net profit was US$132.175 billion, an increase of 18% from US$112.010 billion in fiscal year 2025.
——Apple CFO Parekh said that revenue in the first quarter of fiscal year 2027 is expected to increase by 7%-10% year-on-year, and service business revenue will increase by 8%-9% year-on-year.
——Ternus said that the company is "going all out to get consumers to get iPhone Duo as soon as possible." He also said that consumers also favor iPhone 18 Pro and iPhone 18 Pro Max, mainly due to the upgrades of these two models in terms of cameras, heat dissipation performance and chips.
——Ternus said that Apple’s Mac sales in fiscal year 2026 hit a record high, exceeding any previous fiscal year.
——Ternus said that the memory cost has risen unprecedentedly and that it will face higher memory costs in the first fiscal quarter.
——Apple COO Sabih Khan said that Apple is very satisfied with the market response to the initial launch of iPhone Duo. He said that the production ramp-up of this product is "progressing smoothly." But he also said: "At present, it is indeed difficult for us to predict when supply will be balanced with market demand."
——Sabih Khan said that as Apple shifts more product lines to adopt 2nm process chips, the constraints faced by the supply chain will continue to ease.
—— Regarding the development of AI agents, Ternus said that currently Siri still mainly responds to user commands, but Apple believes that there will be opportunities to gradually expand its functions in the future. He emphasized that the most important thing is to protect the security of user data.
——Ternus hinted that there are no plans to merge iOS and macOS systems.
—— Regarding the performance of the Chinese market, Ternus responded that Apple is very satisfied with the performance of the Greater China market, and its performance growth is mainly driven by the iPhone, followed by Mac. Turnus also talked about Cook and Sabih Khan's recent visit to China, and said that the Chinese market is currently showing strong development momentum.
——As of press time, Apple’s stock price fell 2.36% after hours.
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