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Apple Forecasts Its Biggest Revenue Quarter Ever Despite Supply Constraints
Apple forecasts its biggest revenue quarter ever despite supply constraints on iPhone, Mac and iPad.
Key points
- Apple expects December-quarter revenue to grow 7% to 10% year over year, reflecting its best view of constrained supply.
- Apple expects Services revenue growth of 8% to 9% and operating expenses between $20.4 billion and $20.8 billion.
- Apple expects an effective tax rate of approximately 17% and other income and expense of approximately $300 million.
Why it matters. If the outlook holds, the December quarter would be Apple's best ever for revenue, but the company assumes tariff rates and the macroeconomic outlook do not worsen.
Apple reported fiscal Q4 2026 revenue up 12% year over year to $114.5 billion and net profit of $30.71 billion, both September-quarter records. CFO Kevan Parekh said December-quarter revenue is expected to grow 7% to 10% from a year earlier, or $153.82 billion to $158.13 billion. Margins face pressure from higher memory costs and limited supply-chain flexibility, the company warned, with gross margin guided at 45% to 46%.
Latest updates
Apple Forecasts Its Biggest Revenue Quarter Ever Despite Supply Constraints
Apple reported its fiscal fourth-quarter 2026 results on Monday, November 2. On the earnings call, the company said it expects its December quarter to be "the best quarter for revenue in the history of the company." Apple said the forecast holds despite supply constraints. The outlook points to strong demand for its products heading into the holiday season. The company's full guidance and figures are detailed in its earnings report.