AAPL
Apple Inc.274.61
+0.50+0.18%
Dec 16, 4:00:01 PM EST
Earnings Call Transcripts
This Quarter (Q1 '26)
No earnings call transcript available yet
Last Quarter (Q4 '25)
FY Q1 '26
Supply chase caps Q2 iPhone
Q&A clarified iPhone supply constraints stem from 3nm node capacity limits after Q1's 23% surge left channels lean, putting Apple in perpetual chase mode with no clear balance timeline—baked into March's 13-16% revenue guide. Memory minimally dinged Q1 margins but bites more in Q2, offset by iPhone mix leverage holding gross margins at 48-49%. China traffic doubled digits on iPhone strength; India logged category records with mostly new-to-product buyers. Evasive on AI monetization timelines and pricing levers amid analyst probes. Demand stays scorching. Supply chokes it.
Key Stats
Market Cap
4.08TP/E (TTM)
36.76Basic EPS (TTM)
7.47Dividend Yield
0%Recent Filings
10-Q
Q1 FY2026 results
Apple posted $143.8B total net sales for Q1 FY2026 ended December 27, 2025, up 16% y/y from $124.3B, fueled by 23% iPhone growth to $85.3B and 14% Services rise to $30.0B, while Greater China surged 38%. Gross margin hit 48.2% (up from 46.9%), operating income climbed 19% to $50.9B, and diluted EPS rose to $2.84 from $2.40 on 14.8B shares—consistent. Operating cash flow powered $53.9B (vs $29.9B y/y), with free cash flow at $51.6B (derived) after $2.4B capex; cash swelled to $45.3B, term debt eased to $88.5B carrying value. Share repurchases devoured $25.0B. Tariffs crimp margins.
8-K
Record Q1 revenue, EPS
Apple crushed Q1 fiscal 2026 with $143.8B revenue, up 16% year-over-year, and $2.84 diluted EPS, up 19%. iPhone and Services hit all-time highs at $85.3B and $30.0B, fueled by demand across regions; operating cash flow soared to $53.9B. Board upped dividend to $0.26/share, payable February 12. Cash machine.
8-K
Borders named PAO
Apple appointed Ben Borders, 45, as Principal Accounting Officer effective January 1, 2026, succeeding Chris Kondo under the prior transition plan. Borders, who joined in 2010, steps up from Director of Technical Accounting. No family ties or disclosable transactions exist. Smooth internal handover.
8-K
Newstead named general counsel
Apple named Jennifer Newstead as general counsel effective March 1, 2026, succeeding Kate Adams, who has led since 2017. Newstead joins as SVP in January, reporting to Tim Cook on the executive team. Adams stays through late 2026 to oversee government affairs transition. Smooth handover preserves legal continuity.
10-K
FY2025 results
Apple's FY2025 net sales hit $416.2B, up 6% y/y, with Services surging 14% to $109.2B on advertising and App Store strength, while iPhone grew 4% to $209.6B driven by Pro models; Americas led at 7% growth to $178.4B, Japan 15%, but Greater China dipped 4%. Gross margin edged to 46.9% despite tariff pressures, operating income climbed to $133.1B, and net income soared 20% to $112.0B at $7.46 diluted EPS amid lower taxes. Q4 share repurchases totaled $99.8B at ~$223 average; $132.4B liquidity cushions $91.3B debt. New U.S. tariffs threaten supply chain costs.
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