Apple’s latest verified results are for fiscal Q3 2026, released July 30 for the quarter ended June 27. The materials reviewed for this article do not confirm an October 4 earnings release or establish a later Q4 FY2026 report date. The key question for investors is how much of the quarter’s strong margin and earnings growth came from a tariff-refund benefit—and whether product demand, services growth and rising component costs can sustain performance.
When does Apple report earnings?
Apple reported fiscal Q3 2026 results on July 30, 2026. Its investor FAQ says fiscal 2027 runs from September 27, 2026, through September 25, 2027, and that quarterly results calls are webcast live; the FAQ does not provide the date of the next call. The company materials reviewed as of October 4 do not verify an October 4 earnings event or a later Q4 FY2026 announcement date. Check Apple’s newsroom or investor-relations page for an official announcement rather than treating a secondary report or an assumed schedule as confirmation.
What did Apple report in its latest verified quarter?
Apple reported $109.4 billion in Q3 FY2026 revenue, up 16% year over year, a 50.1% gross margin, and diluted earnings per share of $2.02, up 29%. The quarter ended June 27, 2026. Apple attributed part of the margin and EPS results to tariff refunds, so the headline growth rates are not a clean measure of recurring performance.
| Category | Revenue | Year-over-year change | Apple’s stated growth driver |
|---|---|---|---|
| iPhone | $54.252 billion | Up 22% | Primarily higher sales of Pro models |
| Mac | $10.352 billion | Up 29% | Laptop sales |
| iPad | $6.191 billion | Down 6% | Not stated in the cited filing detail |
| Wearables, Home and Accessories | $7.883 billion | Up 6% | Not stated in the cited filing detail |
| Services | $30.739 billion | Up 12% | Primarily advertising and cloud services |
How much did tariff refunds affect Apple’s earnings?
Apple said tariff refunds contributed approximately 2 percentage points to Q3 gross margin and $0.11 to diluted EPS. It recognized refunds received as a reduction in product cost of sales. That benefit helped lift reported results, but it should not be treated as a recurring source of profit: future refund timing and tariff costs are uncertain.
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Margins also reflect more than tariffs. Apple’s product gross margin was 40.1%, compared with 34.5% a year earlier; Services gross margin was 75.6%, flat year over year; and consolidated gross margin was 50.1%, versus 46.5%. Apple attributed product-margin improvement primarily to product mix and tariff refunds, partly offset by higher costs, including memory. The reported quarter therefore combines favorable mix and refunds with ongoing cost pressure.
What is Apple’s tariff exposure?
Apple’s Q3 Form 10-Q describes tariffs as a potential source of material adverse effects on its business, results and financial condition. The company identifies possible effects on its supply chain, access to rare earths and other materials and components, pricing, and gross margin. It says the ultimate impact depends on future U.S. measures, responses from other countries, and the scale and duration of tariffs; the filing is a disclosure of uncertainty, not a forecast of what governments will do.
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Apple said it applied for refunds after the U.S. Supreme Court’s February 20, 2026 ruling striking down certain tariffs previously imposed under IEEPA. It also disclosed that U.S. tariffs had been modified, including recent Section 301 measures, and cited possible further Section 232, sector-based or Section 301 actions as uncertainties. The filing noted that initial results of the Commerce Department’s Section 232 semiconductor investigation, published January 14, 2026, did not impose additional tariffs affecting Apple products at that time. That dated statement does not rule out later changes.
Independent reader supportYour contribution helps us test, update, and keep practical guides available for everyone.What pressures could offset the tariff benefit?
Apple reported supply constraints and rising costs for advanced semiconductors, NAND storage and DRAM memory, and said it expected those trends to intensify. It warned that price increases might not fully offset the impact and could reduce demand. These component pressures can affect product margins even if tariff exposure eases, while higher prices could also weigh on sales.
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Apple also disclosed $57.0 billion in manufacturing purchase obligations as of June 27, 2026, of which $56.2 billion was payable within 12 months. Those obligations are a measure of committed purchases, not a forecast of tariff expense or a direct estimate of future earnings.
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What should investors watch in Apple’s next report?
- Margins apart from refunds. Read Apple’s gross-margin commentary for the effect of refunds actually received, product mix and component costs. A previous refund benefit should not be assumed to recur.
- iPhone demand and mix. Compare reported iPhone growth with management’s explanation of demand and the contribution of Pro models; one quarter does not establish a trend.
- Memory and semiconductor supply. Look for updates on the availability and cost of advanced semiconductors, NAND and DRAM, including whether the pressures Apple flagged are worsening or easing.
- Services performance. Track Services revenue and margin separately from hardware results to distinguish that business’s growth from product mix and tariff effects.
- Tariff measures and pricing. Note which measures Apple says apply, whether it reports additional refunds, and what it says about changes to supply, prices and margins. Do not treat a policy possibility as a cost already incurred.
- Official reporting date and guidance. Confirm the event through Apple’s investor-relations or newsroom announcement, then distinguish formal company guidance from commentary about uncertain market or policy conditions.
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