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Full earnings analysis

Research updated: Jul 11, 2026, 12:00 AM UTC

Apple (AAPL) FY2026 Q2

Apple's latest completed quarter was fiscal 2026 Q2, ended March 28, 2026, with company records cited for iPhone, Services, and the active-device installed base.

Reported outcomes

Revenue
$111.2 billion
Up 17% year over year
Diluted EPS
$2.01
Up 22% year over year
Operating cash flow
Over $28 billion
New March-quarter record

Management guidance

  • The earnings release did not provide quantitative forward guidance; it highlighted continued demand across products and Services and a record active-device installed base.

Risks that still need monitoring

  • Flagship hardware concentration

    Heavy reliance on flagship hardware leaves results exposed to replacement cycles and shifts in consumer demand.

  • Supply-chain concentration

    A globally concentrated manufacturing and supplier network remains vulnerable to trade restrictions, shortages, and operational disruption.

  • Platform regulation

    App distribution, payments, privacy, and competition rules could constrain Services economics or require product changes.

Market reaction

+3.69%

2026-04-29 $270.17 → 2026-05-01 $280.14

Method: previous trading-day close to the first full trading-day close after the announcement.

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Primary sources

Apple reports second quarter resultsApple Inc. · earningsVerified

Fetched: Jul 11, 2026, 12:00 AM UTC

Published: Apr 30, 2026, 12:00 AM

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Apple Investor RelationsApple Inc. · companyVerified

Fetched: Jul 11, 2026, 12:00 AM UTC

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Apple SEC FilingsApple Inc. · filingVerified

Fetched: Jul 11, 2026, 12:00 AM UTC

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AAPL editorial research profileAlphaVue Research · editorialVerified

Fetched: Jul 11, 2026, 12:00 AM UTC

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