Apple (AAPL)
Apple (AAPL) is the world’s largest consumer-technology company and a flagship of on-device AI: its custom silicon includes a Neural Engine that runs Apple Intelligence and an on-device model locally across more than 2.5 billion active devices. Fiscal Q2 2026 revenue rose 17% to $111.2 billion, led by iPhone and record Services. It reports next around late July 2026.
| Ticker | AAPL |
|---|---|
| Exchange | NASDAQ |
| Sector | Information Technology · Consumer Electronics & On-Device AI |
| Country | United States |
| Wikidata | Q312 |
| Last updated | 2026-06-15 |
Next event: Next earnings · fiscal Q3 2026 , estimated · Calendar-estimated from the prior year (fiscal Q3 2025 was reported July 31, 2025); not company-confirmed. Apple gives only verbal quarter-ahead guidance. Confirm on Apple IR. (source)
Latest reported quarter: Fiscal Q2 2026 (ended Mar 28, 2026) (reported 2026-04-30)
Apple reported fiscal Q2 2026 revenue of $111.2 billion, up 17% year over year, with a 49.3% gross margin and diluted EPS of $2.01, up 22%. iPhone revenue grew 22% to $57.0 billion and Services hit a record $31.0 billion, while net income was $29.6 billion. Apple raised its dividend 4% and authorized $100 billion of additional buybacks.
| Revenue | $111.2B +17% YoY · Fiscal Q2 (Jan-Mar 2026 calendar) |
|---|---|
| iPhone revenue | $57.0B +22% YoY |
| Services revenue | $31.0B +16% YoY · Record; ~77% gross margin |
| Diluted EPS | $2.01 +22% YoY · Net income $29.6B; 49.3% gross margin |
Revenue by segment
| iPhone | $56,994M · 51.3% of revenue +22% YoY |
|---|---|
| Services | $30,976M · 27.9% of revenue +16% YoY |
| Wearables, Home & Accessories | $7,901M · 7.1% of revenue +5% YoY |
| Mac | $8,399M · 7.6% of revenue +6% YoY |
| iPad | $6,914M · 6.2% of revenue +8% YoY |
Recent & upcoming events
- · Installed base passes 2.5 billion active devices. Apple disclosed an installed base of more than 2.5 billion active devices, the surface on which Apple Intelligence runs on-device. (source)
- · CEO transition announced. Apple said John Ternus will become CEO on September 1, 2026, with Tim Cook becoming Executive Chairman. (source)
- · Fiscal Q2 2026: revenue up 17%. Revenue of $111.2 billion (+17%) with iPhone up 22% and record Services of $31.0 billion; dividend raised 4% and $100 billion of buybacks authorized. (source)
- · WWDC 2026: next-generation Apple Intelligence and Siri AI. Apple unveiled the next generation of Apple Intelligence and a more capable Siri AI, private by design and using on-device processing plus Private Cloud Compute. (source)
Fiscal Q2 2026 figures are from Apple's SEC 8-K and newsroom release (quarter ended March 28, 2026). Apple's fiscal year ends in late September, so fiscal Q2 is the January-March quarter. Apple gives no numeric quarter-ahead guidance.
Figures are as of 2026-06-15 and reflect the most recent public filings/IR releases; they are updated after each earnings report.
What does Apple do?
Apple designs and sells the iPhone, Mac, iPad, and wearables, runs a high-margin Services business spanning the App Store, advertising, payments, and subscriptions, and designs its own A-series and M-series chips. In fiscal Q2 2026 iPhone was $57.0 billion of revenue and Services a record $31.0 billion, with Mac, iPad, and wearables making up the rest (Apple 8-K, Apr 30, 2026). The integration of its own silicon, operating systems, and services is what lets Apple run AI directly on its devices.
How is Apple an on-device AI play?
Apple runs AI on the device rather than the cloud. Apple Intelligence uses the Neural Engine in Apple’s custom chips and an on-device foundation model of roughly 3 billion parameters, compressed for the device, with Private Cloud Compute extending iPhone-grade privacy to larger requests (Apple Machine Learning Research). Apple opened that model to third-party apps through a Foundation Models framework, and with more than 2.5 billion active devices it has the largest base on which to deploy on-device AI (Apple, Jan 29, 2026). At WWDC 2026 Apple set the next step:
“We’re delivering the next generation of Apple Intelligence across our platforms; introducing Siri AI, a profoundly more intelligent, knowledgeable, and capable Siri.”
— Craig Federighi, SVP Software Engineering, Apple (Apple, Jun 8, 2026)
What did Apple report most recently?
In fiscal Q2 2026 (the quarter ended March 28, 2026), revenue was $111.2 billion, up 17% year over year, with a 49.3% gross margin, diluted EPS of $2.01, up 22%, and net income of $29.6 billion (Apple 8-K, Apr 30, 2026). iPhone revenue grew 22% to $57.0 billion and Services set a record at $31.0 billion. Apple raised its dividend 4% and authorized $100 billion of additional buybacks. Apple gives only verbal quarter-ahead guidance, so it publishes no numeric forecast.
What are the risks for Apple?
- AI execution. Apple’s AI rollout has lagged some rivals; a more capable Siri shipped later than first promised, and the EU launch is delayed under the Digital Markets Act (Apple, Jun 8, 2026).
- iPhone and China. iPhone is over half of revenue and exposed to China demand and tariffs.
- Regulation. App Store rules and antitrust pressure threaten Services growth, the highest-margin business.
- Leadership transition. John Ternus becomes CEO on September 1, 2026, with Tim Cook moving to Executive Chairman (Apple, Apr 20, 2026).
Related securities, concepts & terms
Apple is a representative company of the AI On-Devices concept.
- AI On-Devices parent
- Qualcomm (QCOM) sibling
- Arm Holdings (ARM) sibling
- Samsung Electronics (005930) related
- On-Device AI related
- AI accelerator related
Frequently asked questions about Apple
What does Apple do?
Apple designs and sells the iPhone, Mac, iPad, and wearables, runs the high-margin Services business, and designs its own A-series and M-series chips. In fiscal Q2 2026 revenue was $111.2 billion: iPhone $57.0 billion, Services a record $31.0 billion, Mac $8.4 billion, iPad $6.9 billion, and wearables $7.9 billion (Apple 8-K, Apr 30, 2026).
Why is Apple an on-device AI play?
Apple runs AI on the device through Apple Intelligence, which uses the Neural Engine in its custom silicon and an on-device foundation model of roughly 3 billion parameters, with Private Cloud Compute for larger requests (Apple Machine Learning Research). With more than 2.5 billion active devices, Apple has the largest installed base on which to deploy on-device AI (Apple, Jan 29, 2026).
What did Apple announce at WWDC 2026?
On June 8, 2026 Apple unveiled the next generation of Apple Intelligence and a more capable Siri AI, described as private by design and using on-device processing plus Private Cloud Compute (Apple, Jun 8, 2026). The deeper Siri integration is Apple's bid to make on-device AI a daily assistant across its platforms.
What was Apple's latest quarterly revenue?
Fiscal Q2 2026 (the quarter ended March 28, 2026) revenue was $111.2 billion, up 17% year over year, with a 49.3% gross margin, diluted EPS of $2.01 (up 22%), and net income of $29.6 billion (Apple 8-K, Apr 30, 2026). iPhone grew 22% and Services set a record.
When does Apple report its next earnings?
Apple is expected to report fiscal Q3 2026 results around late July 2026, calendar-estimated from the prior year (fiscal Q3 2025 was reported July 31, 2025) and not company-confirmed, so check Apple's investor-relations site (Apple IR). It last reported fiscal Q2 2026 on April 30, 2026. Apple gives only verbal quarter-ahead guidance, so no numeric forecast is published.
What are the risks for Apple?
Apple's AI rollout has lagged some rivals, and a more capable Siri shipped later than first promised, with the EU launch delayed under the Digital Markets Act (Apple, Jun 8, 2026). iPhone is still over half of revenue and exposed to China demand and tariffs, regulatory pressure on the App Store threatens Services growth, and a CEO transition to John Ternus is set for September 2026 (Apple, Apr 20, 2026).
Sources & references
- Apple reports second quarter results (SEC 8-K, Exhibit 99.1) · Apple Inc. / SEC EDGAR, 2026-04-30
- Apple reports second quarter results · Apple Inc., 2026-04-30
- Apple unveils next generation of Apple Intelligence, Siri AI, and more · Apple Inc., 2026-06-08
- Updates to Apple's On-Device and Server Foundation Language Models · Apple Machine Learning Research, 2025-06-09
- Apple reports first quarter results (installed base over 2.5 billion devices) · Apple Inc., 2026-01-29
- Tim Cook to become Apple Executive Chairman; John Ternus to become Apple CEO · Apple Inc., 2026-04-20
- Apple · Investor Relations · Apple Inc., 2026-06-15