Apple’s Q4 2026 earnings, unveiled November 2, smashed its revenue record—$114.5 billion, surpassing Wall Street’s $113.4B forecast. iPhone tops the growth charts; Mac rose strongly; iPad and Wearables fell short. Services posted solid gains but signs of cooling became the sharper takeaway. Under the first full quarter with John Ternus as CEO, analysts broadly cheered the top-line, while raising red flags over costs, margin—and just how reliable services will prove under pressure.
Analysts Tongue-Tied on Apple’s Q4: Record Revenue But Margin & Service Concerns
