Apple will announce its second-quarter monetary outcomes for 2026 on April 30. Here is what occurred within the quarter, and what analysts suppose goes to be revealed.
The Q2 2026 monetary outcomes can be shared by Apple in a press launch on April 30. A short while after, at 5 P.M. Jap, it’s going to maintain its traditional analyst and investor convention name.
That decision will contain each present CEO Tim Cook dinner and CFO Kevan Parekh discussing the quarter and offering steering for future quarters. There will even be questions from analysts concerning the quarter and expectations for Q3 and past.
There’s additionally the small matter of the announcement with Cook dinner changed as CEO in September by John Ternus. Analysts can be eager to know extra concerning the transition plans.
As traditional, AppleInsider will try the information and hear in to the convention name, to report the larger tales from the monetary occasion.
Final quarter: Q1 2026 particulars
Launched on January 29, the primary quarter outcomes are at all times Apple’s finest, seasonally talking. It is the very best income quarter of its yr, as a result of fall product launches and vacation gross sales interval.
For Q1 2026, Apple hauled in document income of $143.8 billion, up from the $124.3 billion it introduced in for Q1 2025. It reported an earnings per share of $2.84, and declared a money dividend of $0.26 per share of frequent inventory.
Apple Quarterly Income and Internet Revenue, as of finish of January 2026
On a per-product foundation, iPhone grew from $69.1 billion within the year-ago quarter to $85.3 billion. Income from iPad additionally jumped from $7.01 billion to $8.6 billion.
Mac was down from $8.9 billion to $8.39 billion, in the meantime Wearables, Residence, and Equipment dipped barely to $11.49 billion from $11.747 billion.
The ever-reliable Providers continued its annual progress, from $26.34 billion to $30.013 billion.
The interval loved the primary full quarter of availability for Apple’s late This autumn launch roster, together with the iPhone 17 household, iPhone Air, Apple Watch Sequence 11, Apple Watch SE 3, Apple Watch Extremely 3, and AirPods Professional 3. Launches within the quarter included the M5 improve of the iPad Professional, the M5 Apple Imaginative and prescient Professional, and the M5 14-inch iPad Professional.
Yr-ago quarter: Q2 2025
The Q2 2025 outcomes are the pure yardstick used to check the Q2 2026 outcomes in opposition to. It happens on the identical level within the seasonal cycle, and follows after the same old blockbuster Q1 figures.
For the Q2 2025 outcomes, Apple noticed its income develop 5% year-over-year to $95.4 billion.
Apple income by unit, as of finish of January 2026
For iPhone, income was additionally up from $45.96 billion in Q2 2024 to $46.84 billion in Q2 2025. Mac income additionally grew barely, from $7.45 billion to $7.95 billion.
iPad dipped from $6.4 billion to $5.56 billion, whereas Wearables, Residence, and Equipment went from $7.9 billion for the year-previous outcomes to $7.5 billion.
Providers continued its ever-dependable march of progress, going from $23.9 billion in Q2 2024 to $26.6 billion.
That quarter benefited from the post-holiday gross sales of the iPhone 16 vary and different fall launches. Throughout the quarter, Apple launched the iPhone 16e, the iPad 11, the M3 iPad Air, the M4 MacBook Air, and the up to date Mac Studio.
The interval additionally needed to cope with a backdrop of a tariff conflict, with President Donald Trump making use of tariffs in opposition to all different nations. China was a specific goal of the tariff hikes, however Apple and others did get a brief semiconductor-based reprieve on the time.
What occurred in Apple’s second fiscal quarter of 2026
For Q2 2026, Apple will nonetheless be benefiting from the autumn launch gross sales. However the consideration can be turned in the direction of merchandise launched through the quarter itself.
That record consists of many anticipated launches, together with the M4 replace to the iPad Air, the iPhone 17e, the M5 improve to the MacBook Air, and the M5 Professional and M5 Max variations of MacBook Professional.
Apple did additionally convey out some surprising modifications, together with a refreshed Apple Studio Show, and the Apple Studio Show XDR changing the Professional Show XDR.
MacBook Neo in Citrus
There was additionally the widely-celebrated launch of the MacBook Neo, a budget-focused MacBook powered by the A18 Professional chip.
As for the matters of debate through the convention name, one will nearly definitely be about pricing pressures.
The tech business is coping with quickly rising costs for reminiscence, processors, and SSDs, as a result of build-out of AI infrastructure. Whereas Apple has managed to insulate itself up to now with its provide chain agreements, it isn’t one thing it may proceed endlessly.
There’s additionally the ever-present challenge of synthetic intelligence, and Apple’s seemingly constant lagging behind the remainder of the business. With the delayed Siri overhaul now anticipated for WWDC and the Google Gemini deal impacting its work, analysts can be eager to know Apple’s plan for the long run.
Nevertheless, this is not going to be all that the analysts will wish to discuss. There’s additionally the matter of the CEO transition.
On September 1, Tim Cook dinner will transfer out as CEO and develop into govt chairman at Apple. In his place can be John Ternus.
Whereas it’s unclear if Ternus will seem on the convention name earlier than the beginning of his tenure, you’ll be able to make certain that the analysts will wish to prod Cook dinner concerning the matter. In any case, this can be a main occasion that may have an effect on investments.
What’s Wall Avenue anticipating to see in Apples’ Q2 2026 monetary report?
The Wall Avenue consensus refers to a survey of analysts. The outcomes are averaged out to provide a normal opinion of the place buyers and analysts are leaning of their quarterly forecasts.
Yahoo Finance
Yahoo Finance’s income estimate for Apple in Q2 stems from 31 analysts. As of April 25, the common estimate is $109.69 billion, with a low of $107.08 billion and a excessive of $115.37 billion.
For the earnings per share estimate, 32 analysts put it at a median of $1.95. The low is $1.56 and the excessive is $2.16.
TipRanks
TipRanks additionally does its personal analyst polling on Apple’s quarter. In its forecast as of April 19, its consensus is for a income of $109.45 billion, with a excessive of $115 billion and a low of $105 billion.
On the earnings per share, the consensus is $1.95, with a excessive of $2.16 and a low of $1.56.
Analyst Expectations
Forward of the outcomes and name, analysts supply their very own forecasts of what they suppose Apple can be declaring in its financials. Relying on the agency and the analyst, these scorching takes embody each optimistic and unfavourable opinions about Apple.
JP Morgan
In an April 21 word to buyers seen by AppleInsider, JP Morgan forecasts Apple’s Q2 to lead to $112.7 billion in income, with an earnings per share of $2.05. This can be pushed by higher product revenues, consisting of $82.3 billion versus a consensus of $78.8 billion.
The iPhone forecast can be aided by sturdy demand for the iPhone 17, hitting $59.5 billion, whereas Providers can be in keeping with the information of $30.4 billion.
For the quarter itself, reminiscence headwinds are anticipated because of rising prices, however the challenge can be not as unhealthy as as soon as feared. Apple is anticipated to steadiness income share relative to margins by taking modest value will increase, solely after efforts to restrict the rise of the invoice of supplies, by making the most of its sheer scale.
These value rises may very well be a mid-single-digit proportion improve, or about $50 for each $1,000 of normal pricing.
JP Morgan courses Apple as “Chubby” with a value goal of $325.
Financial institution of America
In its April 20 word, Financial institution of America mentioned Apple was a premium story in what’s in any other case a messy market. Whereas Providers is a important pillar for the corporate, the push into AI may very well be a brand new engine for progress.
With the M5 introduction, it’s a main step ahead for on-device processing and inference, which might assist decrease cloud-related bills for customers and companies.
Apple is rated a “Purchase” by BoA, with a value goal of $325. It has forecasted an upside of 23.4%.
Morgan Stanley
On April 20, earlier than the CEO change announcement, Morgan Stanley’s pre-earnings discuss was optimistic, anticipating for income and the EPS to be 1% to 2% higher than the consensus. There have been the same old worries, together with if reminiscence will impression income, however with a perception that iPhone, Mac, and Providers can be steady.
In one other word on April 22, JP Morgan forecast income of about $112.7 billion, with sturdy efficiency in China driving many of the upside.
The corporate caught with its obese name and a $315 value goal.
After the CEO announcement, Morgan Stanley mentioned Apple’s core technique most likely will not change, with priorities persevering with as they’re as a substitute of shifting in path. It is an evolutionary, not transformational, change.
Goldman Sachs
In pre-CEO chatter on April 20, Goldman Sachs forecasted a second-quarter EPS of $2.00, above its Wall Avenue consensus of $1.93. Providers and favorable trade charges will assist bump up the outcomes.
Providers are projected to have 14% year-on-year progress regardless of an apparently gradual App Retailer quarter, in addition to value will increase on numerous merchandise.
Total, there was a way that Goldman Sachs was pushing again in opposition to what it considered as unfavourable sentiment for Apple’s earnings. The inventory value’s underperformance did not match as much as its precise place, it felt.
On April 22, one other word added that Providers will develop 14% year-over-year to $30 billion, iPhone income up 23% to $85.3 billion, and general income progress of between 13% and 16% year-over yr.
Goldman reaffirmed its “Purchase” advice with a $330 value goal.
