| AAPL |
Report |
Total revenue (Q3 FY26, June qtr) |
BEAT |
pred ~$110.5B vs. cons ~$108.7B |
MEDIUM |
| AAPL |
Report |
Diluted EPS (Q3 FY26) |
BEAT |
pred ~$1.93 vs. cons ~$1.87 |
MEDIUM |
| AAPL |
Report |
Gross margin (Q3 FY26, reported) |
IN-LINE |
pred ~48.6% vs. cons ~48.3% |
MEDIUM |
| AAPL |
Guide |
Q4/Sept FY26 gross-margin guide (memory-cost cliff) |
LOWER |
guide ~46.5% vs. cons ~47.5% (Q4/Sept FY26) |
MEDIUM |
| AAPL |
Guide |
Q4/Sept FY26 total revenue guide |
UNCHANGED |
guide ~+10% YoY / ~$112B vs. cons ~$112B (Q4/Sept FY26) |
LOW |
| AAPL |
Guide |
Greater China revenue (reported/commentary) |
BETTER |
pred ~+16% (~$17.9B) vs. cons ~+10% (~$16.9B) (Q3 FY26) |
MEDIUM |
| AAPL |
Guide |
Services growth (ex-FX, guide/commentary) |
UNCHANGED |
guide ~13-14% ex-FX vs. cons ~14% (Q3 FY26) |
MEDIUM |
| AAPL |
Return |
Day-1 residual (stock − beta × S&P 500) |
-3.0% |
— |
MEDIUM |
| AAPL |
Return |
5-day cumulative residual |
-4.5% (FOLLOW-THROUGH) |
Headline revenue/EPS beat, but the Sept-quarter gross-margin guide confirms the escalating memory-cost squeeze (Cook flagged 'increasing impact' beyond June), forcing downward FY27 margin/EPS revisions. At ~35x forward, a ~$5T cap and options pricing only ~3.8%, the stock is priced for perfection, so an implicit out-period margin cut outweighs the June beat. Negative day-1 reaction follows through lower as sell-side trims margin estimates over the subsequent days rather than fading. |
LOW |