Key facts
- Analysts expect Apple revenue to rise nearly 11% to $113.39 billion for the July-September quarter, per LSEG data.
- Net profit is expected to rise about 6% to $29.04 billion, according to the LSEG figures cited.
- Services revenue is expected to grow almost 10% to $31.56 billion, the slowest pace in more than three years.
- IPhone sales are projected to climb about 15% to $56.54 billion, slowing from about 22% growth in the prior quarter.
- The iPhone Duo starts at $1,999 in the US, and Bank of America estimates average delivery waits of 79 days.
- Apple's shares have risen about 27% this year, outpacing Microsoft, Alphabet, Meta and Amazon, per the report.
John Ternus was due to host his first earnings call as Apple's CEO on a Monday, with investors looking to the company's forecast to judge whether a run of new products could offset rising memory-chip costs, Reuters reported on November 2. Ternus took over from Tim Cook in September, according to the report. Apple has introduced its first foldable phone, a smart home hub and its first touch-screen laptops, all of which began shipping in the company's fiscal first quarter.
Analysts expect Apple to report a nearly 11% rise in revenue to $113.39 billion for the July-September period, its fiscal fourth quarter, according to LSEG data cited by Reuters. Net profit is expected to rise about 6% to $29.04 billion. Services revenue is expected to grow almost 10% to $31.56 billion, the slowest pace in more than three years, while iPhone sales are projected to climb about 15% to $56.54 billion, slowing from about 22% growth in the prior three months.
The results capture just nine days of sales of the new iPhone 18 Pro models. The iPhone Duo, Apple's first foldable, came out on October 23 and starts at $1,999 in the US. Some buyers of the device have reported cracks and lines along the inner display's central fold, prompting Apple to offer replacements, the report said. Online orders for the Duo sold out within minutes.
Bank of America estimates Duo buyers face average delivery waits of 79 days, with shipments stretching into January. IDC analyst Nabila Popal said she expects demand for the Duo to keep exceeding supply despite the screen problems, and that the test will be how quickly Apple can replace affected devices while supplies remain tight. Dan Morgan, a portfolio manager at Synovus Trust, which owns Apple shares, said recent agentic innovation far outpaces the firm's experience with Siri AI, but that Apple has acknowledged its Siri AI is far more focused on trust and privacy.
Apple's shares have risen about 27% this year, outperforming Microsoft, Alphabet, Meta and Amazon, as investors seek shelter from concerns over the cost of building AI infrastructure, the report said.