Key Highlights

  • Apple (NASDAQ:AAPL) reported September quarter Revenue of USD 114.5 billion, up 12% and a September quarter record, for the quarter ended September 26, 2026, with Diluted Earnings per Share of USD 2.10, up 14%.
  • Gross Margin was 47.9%, including about 1 point from Tariff refunds, and earnings per share included USD 0.05 from the same refunds, so part of the profit is not a repeatable operating gain.
  • Apple returned USD 28 billion to shareholders, set a quarterly Dividend of USD 0.27 per share payable November 16, 2026, and reported fiscal 2026 revenue of USD 479 billion, an all-time record.
  • Published market data show AAPL at USD 338.32, down 1.83% in the latest session, with trailing Net Income of USD 112.01 billion and a price to earnings ratio of 38.78. These screener figures are unverified.

A Record Quarter, With a One-Off

Apple announced fiscal fourth quarter results on November 2, 2026. Revenue of USD 114.5 billion rose 12%, and iPhone revenue and total net income both set September quarter records, although the release we checked gave no dollar figure for either. Diluted earnings per share of USD 2.10 rose 14%. Management said gross margin of 47.9% included about 1 point from tariff refunds, and earnings per share included USD 0.05 of them. Apple (NASDAQ:AAPL) therefore earned a clean record, but a small slice of it came from refunds that may not recur. Without the refunds, simple arithmetic puts earnings per share near USD 2.05, still a healthy gain on a year earlier, and fiscal 2026 revenue of USD 479 billion confirms the scale of the franchise.

What Trailing Profit Tells Us

The highest net income screen sorts by trailing twelve month profit after tax. On published market data AAPL shows USD 112.01 billion and earnings per share of USD 8.72, which implies the 38.78 price to earnings ratio shown. We have not matched those screener figures to the filing. Net income is the right lens for a company like Apple because it captures the effect of margins, tax and Buybacks together. The company generated USD 28 billion of Operating Cash Flow in the quarter and returned USD 28 billion to holders, so profit is largely being recycled into dividends and repurchases.

Risks and What to Watch

The release did not include forward guidance, so investors must wait for commentary from the Earnings Call held November 2. Published coverage flags rising memory chip costs as a margin pressure, but that is a single reported view and we have not confirmed the size. Tariff refunds can reverse the benefit they gave this quarter. At a price to earnings ratio of 38.78 on screener data, AAPL carries a premium multiple, and the share price fell 1.83% in the latest session. Holders of record on November 12, 2026 receive the dividend. Services strength, which the release called an all-time high, supports margins, yet hardware cycles and regulation of app store fees remain factors to follow.

Where Things Stand

Apple used its USD 114.5 billion of September quarter sales to produce record profit, return USD 28 billion to shareholders and lift earnings per share 14% to USD 2.10, although about USD 0.05 of that came from tariff refunds. For readers who rank stocks by profit, Apple (NASDAQ:AAPL) is among the largest earners in the US market. The open questions are the memory cost trend and whether growth can justify the premium multiple on screener data.