Apple posts record $114.5 billion quarter in Ternus' first report as CEO
The new CEO opens with a record, even as rising memory costs bite and no new standard iPhone shipped in the quarter.
Apple brought in $114.5 billion in revenue in the fourth quarter of its 2026 fiscal year, a record quarter for the company. The results came out on November 2, 2026. They are the first quarterly numbers under new CEO Ternus.
What is known
Apple published its fiscal fourth-quarter results through its newsroom. Revenue reached $114.5 billion, a record for the company.
Coverage points to two drivers: the iPhone and services. ComputerBase frames its read of the quarter around both. The Verge also puts iPhone sales at the center of its report.
On the same day, MacRumors reported on rising memory costs at Apple, looking ahead to December. The record and the cost question landed side by side.
For Ternus, this is the first report card as chief executive. The quarter is the first hard number after the change at the top.
Context
The record comes at a harder time for hardware makers. Memory has become more expensive, and that hits every device that ships with RAM and flash storage, from phones to computers.
Apple also got through this quarter without a new standard iPhone. That puts more weight on the rest of the lineup and on services, a business less tied to the cadence of new devices. The two drivers named in coverage fit that picture.
That gives Ternus a comfortable start. He takes over at a high point, not a decline. It also raises the bar for the quarters ahead, especially if memory prices keep climbing.
For buyers, the cost side matters more than the record. If Apple pays more for memory, the difference has to go somewhere: into thinner margins or higher device prices. Which way Apple goes will only become clear over the coming months.
What remains open
The headline figures do not show how the $114.5 billion splits across iPhone, services and other segments, what profit and margin looked like, or what Apple expects for the holiday quarter. It is also unclear whether Apple will pass higher memory costs on to customers or absorb them. And the numbers alone say little about the strategy Ternus plans beyond this quarter.
Dates
- November 2, 2026: Apple reports fiscal fourth-quarter results, the first under Ternus
Not financial advice.
