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Apple reports fiscal third-quarter results after the bell.
Here’s what analysts are expecting, according to LSEG.
- Earnings per share: $1.89
- Revenue: $108.65 billion
It’s Tim Cook’s final earnings call as Apple CEO before he turns over the reins to John Ternus on Sept 1. The report comes as Apple’s stock is trading near a record, up 24% so far this year as of Wednesday’s close, topping its megacap peers.
Revenue is expected to increase 16% from $94 billion a year earlier, according to LSEG.
Apple is reckoning with a global memory crunch, or what Cook recently called a “hundred-year flood,” and a rush for chip manufacturing capacity that’s already forced the company to lift prices on Macs and iPads. Apple hasn’t said it will raise prices on iPhones, but many analysts are expecting hikes as soon as this year.
Meanwhile, Apple is gearing up for a launch of a redesigned Siri using Google technology alongside new iPhone hardware in September, a critical test for the company as investors worry that it’s fallen behind in artificial intelligence.
Still, if the company meets expectations, it will mark a third straight quarter with year-over-year revenue growth of at least 15%.
Ternus, a 25-year Apple veteran and Apple’s current head of hardware, said little on the prior earnings call, which was held shortly after the CEO transition was announced in April. Investors are eager to hear more.
The conference call is scheduled for 5 p.m. ET.
Apple stock chart for Thursday, July 30, 2026
CNBC’s reporters are covering Apple earnings from bureaus in San Francisco and Englewood Cliffs, New Jersey.
2 Hours Ago
Apple’s gross margin in focus, after nearing 50%
Apple’s gross margin will come into focus on Thursday as investors look to see how the company is grappling with rising costs for memory and other parts for its devices, a dynamic that Cook called “unsustainable” in June. Apple’s Android rivals are already seeing their margins suffer.
Prices on Macs and iPads went up at the end of June, just before the quarter ended, so the impact of the those hikes won’t be seen until the company’s September quarter results.
Apple’s margin has expanded in recent years, hitting a peak of 49.3% in the March quarter. But the company’s gross margin on its devices was only 38.7%, which was down 200 basis points, or 2 percentage points, from the previous quarter.
And Apple forecast that gross margin in the June quarter would decline, to between 47.5% and 48.5%. Analysts polled by StreetAccount are expecting exactly 48%.
— Kif Leswing
1 Hour Ago
Apple and Amazon wrap up megacap earnings
Amazon CEO Andy Jassy walks to lunch during the Allen & Co. Media and Technology Conference in Sun Valley, Idaho, on July 9, 2025.
David Paul Morris | Bloomberg | Getty Images
Along with Apple, Amazon is scheduled to report after the bell on Thursday, bringing an end to earnings season for the megacap tech companies, as Nvidia’s report comes later.
It’s been a mixed bag so far as investors scrutinize capex commentary and start holding companies more accountable for converting expenses to revenue. Meta and Microsoft traded in opposite directions on Thursday, with investors still skeptical of Mark Zuckerberg’s spending plans, while Microsoft gets applauded for its cloud growth.
Amazon’s cloud business will be of particular interest to Wall Street, following results from rivals Alphabet and Microsoft.
— Ari Levy
2 Hours Ago
Growth expected to slow from here, retreating to more normal levels
Looking ahead to the rest of this year and into 2027, growth rates are projected to slow significantly. Consensus expectations for revenue expansion in the fiscal fourth quarter at are about 12%, and that number drops into the single digits for most of next year, according to FactSet.
For investors, those types of numbers look familiar. Prior to the December quarter, Apple hadn’t notched double-digit revenue growth since 2021.
Apple typically issues revenue guidance on its earnings call.
— Ari Levy
2 Hours Ago
Cook and Ternus make a public appearance
John Ternus, Apple’s Senior Vice President of Hardware Engineering, (L) and Tim Cook, CEO of Apple, attend the world premiere celebrating season four of the Apple TV beloved series “Ted Lasso” at Academy Museum of Motion Pictures on July 27, 2026 in Los Angeles, California.
Stewart Cook | Getty Images
On Monday, Cook and Ternus attended the premiere of Apple TV’s “Ted Lasso” Season 4 in Los Angeles.
Apple TV is part of the company’s services division. Analysts polled by StreetAccount expect Apple to report $31.36 billion in services revenue in the June quarter.
Apple’s services haven’t been immune to price increases in the U.S. The company raised its music subscription price from $10.99 to $11.99 per month in July.
— Kif Leswing
2 Hours Ago
Could the memory shortage help Apple gain market share?
Apple CEO Tim Cook and Jalen Brunson, basketball player for the New York Knicks, during the first day of in-store sales of Apple’s latest products at Apple’s Fifth Avenue store in New York, Sept. 19, 2025.
Bloomberg | Bloomberg | Getty Images
Apple has yet to raise iPhone prices in most markets, which could threaten its margins as costs for memory, storage, and other parts rise.
But some analysts see Apple picking up share in a dismal smartphone market, potentially the softest since 2013. While Apple is large enough to negotiate large memory supply agreements and take the hit as prices rise, most Android phone makers don’t have that luxury and have to pass costs on, potentially losing customers.
Apple could signal “market share gains given pricing increases at competitors,” Goldman Sachs analysts, who have a buy rating on the stock, wrote in a note this week.
Apple most likely won’t announced price hikes on an earnings call, but management often gives data points about “switchers” — people who moved from an Android to an iPhone.
— Kif Leswing
3 Hours Ago
Apple’s capital expenditure-light strategy is paying off in the eyes of investors
Instead of spending hundreds of billions of dollars on AI infrastructure to build and serve advanced models, Apple announced earlier this year that it would license much of its AI technology from Google as well as using its cloud.
Apple’s peers in the hyperscaler world are spending over $100 billion in capex this year, yet Apple is expected to spend just over $11 billion, with $3.4 billion in the June quarter.
In recent weeks, Apple’s stock has climbed as many of the names associated with the AI buildout have faltered.
“While Apple was initially bruised by many investors for not joining the LLM investment cycle, investors are coming around to Apple’s industry-leading” free cash flow, analysts at Baird wrote this month. They recommend buying the stock.
— Kif Leswing
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