Apple releases its quarterly financial results on Monday evening in Europe, marking the first earnings report under Chief Executive Officer John Ternus, who succeeded Tim Cook on September 1. Analysts expect revenue to have risen nearly 11% to $113.39 billion and net profit to have increased about 6% to $29.04 billion, according to LSEG estimates. The company approaches the milestone after reclaiming its position as the world’s most valuable publicly traded company, closing Friday with a $5.03 trillion market capitalization, overtaking Nvidia.
iPhone 18 Pro Sales and Missing Duo Revenue
The upcoming earnings report covers a period that includes nine days of sales for the iPhone 18 Pro and iPhone 18 Pro Max, which went on sale on Sept. 18. The new $1,999 foldable device, the iPhone Duo, did not go on sale until Oct 23—after the reported quarter closed—leaving the period with no Duo revenue. iPhone revenue is forecast to rise about 15% to $56.54 billion, slowing from growth of about 22% in the previous three months.
Apple CEO John Ternus Faces First Earnings Test as Memory Costs RiseApple's new CEO John Ternus faces his first earnings test as rising memory costs threaten to complicate the company's profit outlook.Ternus took over from Tim Cook on September 1, 2026. Now, analysts expect… pic.twitter.com/uZZvGAaldO
Component Costs and AI Strategy in Focus
Investors will scrutinize executive commentary regarding rising memory-chip costs and Apple’s artificial intelligence roadmap. TechInsights estimated that memory and storage components in the iPhone 18 Pro could cost Apple about $196, up from roughly $52 in the iPhone 17 Pro. Back in June, Cook cautioned that Apple could no longer absorb these surges and would be forced to increase select item prices. Meanwhile, Apple’s relatively restrained AI spending contrasts with its rivals’ heavy investment in infrastructure.
Questions About iPhone Duo Demand and Guidance
Market attention centers heavily on Christmas-quarter guidance and early consumer demand for the iPhone Duo. Analysts noted that market reaction is likely to be driven by Christmas guidance due to the limited sales window for the iPhone 18 Pro and no iPhone Duo revenue in the quarter. Following the launch, a number of purchasers noticed lines and cracks along the folding screen’s middle crease, leading Apple to provide device swaps.
Services revenue is expected to grow almost 10% to $31.56 billion, its slowest pace in more than three years. Investors will monitor Monday’s call for John Ternus’ comments on new products, prices and AI, alongside the company’s outlook for the crucial Christmas quarter.