Apple is scheduled to report fiscal fourth-quarter earnings after Monday's closing bell, marking its first quarterly call under new CEO John Ternus, who took over from Tim Cook on September 1. Wall Street analysts expect earnings per share near $2 on revenue of about $113.4 billion, according to Bloomberg. Koyfin projects revenue of $113.35 billion and adjusted EPS of $1.99, compared with EPS of $1.85 and revenue of $102.46 billion a year earlier. The implied 11% revenue growth would be the slowest in four quarters, suggesting the bar is lower than Apple's record stock run might imply.
iPhone sales are forecast at roughly $56.5 billion, up about 15% year over year, while services revenue is expected above $31.5 billion for nearly 10% growth, its slowest pace in more than three years. Analysts also expect Mac sales near $9.69 billion, wearables near $8.99 billion, and iPad revenue near $6.83 billion. The iPhone Duo went on preorder October 16 and on sale October 23, falling outside the fiscal fourth quarter, so investors will listen for demand commentary rather than hard numbers. Reports of hinge and screen issues may surface, but longer wait times point to strong demand. Memory costs and December-quarter guidance are key focus areas for Morningstar, which calls iPhone "the overwhelming driver of the business."
Apple shares closed at $344.63 on Friday, down 1.23%, and traded about 0.4% lower in pre-market Monday near $343.14. The stock is up roughly 30% over the past 12 months, outperforming Amazon, Google, Nvidia, Microsoft, and Meta, although the past month has been tougher for big tech. Apple's market cap topped $5 trillion earlier this month for the second time, a level only Nvidia has also reached. Bank of America removed Apple from its "US 1 List" last week, and Morningstar rates the stock as moderately overvalued. Among 43 analysts tracked by Koyfin, 24 rate Apple Buy or higher, 13 say Hold, and six say Sell or lower.
Palantir also reports after Monday's close, and the combined results could shape whether AI stocks recover from an October selloff that erased trillions in technology valuations. Investors are demanding stronger profits and clearer evidence of returns from AI spending, adding pressure to both reports.
