Apple Posts Record $114.5 Billion September-Quarter Revenue as Ternus Debuts as CEO
What happened
Apple posted a record fiscal fourth-quarter revenue of $114.5 billion, up 12% year-over-year, in its first financial report under new chief executive John Ternus.
The Context
* Leadership shifted seamlessly after former hardware chief John Ternus took over from Tim Cook on September 1, 2026, delivering diluted earnings per share of $2.10, a 14% annual increase. * Pricing power offset component headwinds as Apple raised sticker prices on iPhones, Macs, and iPads to counter global memory chip shortages tied directly to enterprise AI infrastructure demand. * iPhone sales drove the surge with device revenue rising 17% to $57.6 billion, alongside record Services performance, outperforming broader Big Tech peers facing investor scrutiny over infrastructure returns.
The Number
— Apple's September-quarter top line signals that high-end consumer and commercial hardware spend remains inelastic despite broad macroeconomic friction and rising component costs.
Takeaway
Expect supply chain bottlenecks around next-generation form factors like the iPhone Duo to keep hardware margins tight, with Cupertino forecasting 7% to 10% revenue growth for the holiday quarter.
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Apple reports Q4 revenue up 12% YoY to $114.48B, vs. $113.39B est., China revenue up 21% to $17.5B, vs. $18.9B est., in John Ternus' first earnings report (Apple)
Apple reported fiscal fourth-quarter revenue of about $114.5 billion, up 12% year over year and narrowly above analyst estimates of roughly $113.4 billion, in the first earnings report under new CEO John Ternus. China revenue rose 21% to about $17.5 ...