Apple Posts Record Earnings: Dual AI Revenue Streams and Asset-Light Strategy
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On November 3, 2026, The Verge reported that Apple released record fiscal-year results. The earnings report showed that Q4 (September quarter) iPhone revenue grew 17.5% year over year to $5.76 billion, a record for the quarter; Mac revenue grew 24% to $10.8 billion, the highest in four years. The report noted that Apple adopts a profit model running its own AI alongside third-party AI in parallel, while its AI infrastructure investment is far lower than competitors', reflecting an asset-light approach. However, due to rising memory costs, Apple warned that holiday-quarter margins would come under pressure, and its stock fell in premarket trading after the earnings release. The event is currently at the stage of market reaction following the earnings announcement.
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- The Verge · AIApple is all in on AI — its own and everyone else’s
Apple reported record fiscal-year results, with Q4 iPhone revenue up 17.5% year over year to $5.76 billion (a September-quarter record) and Mac revenue up 24% to $10.8 billion, the highest in four years; it warned that rising memory costs will pressure margins in the holiday quarter, and shares fell in premarket trading.
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