PomegraApple Stock Slips 1% as Earnings Loom Under CEO Ternus
Why is Apple stock down ahead of earnings?
Apple (AAPL) stock slipped about 1% on Friday as a tech selloff over AI spending hit shares, leaving it worth $5.03 trillion before Monday's earnings, the first under CEO John Ternus.
Key numbers
| Revenue estimate (Sept quarter) | $113.4B+10.6% YoY |
|---|---|
| EPS estimate | $1.99+7.6% YoY |
| Gross margin forecast | 47%-48%vs 50.1% in June quarter |
| Market value (Oct 30 close) | $5.03Tabout 1% below record close |
| Options-implied post-earnings move (per TipRanks) | ±4.25% |
| June-quarter revenue | $109.4B+16% YoY |
What happened
Apple (AAPL) stock slipped about 1% on Friday as a tech selloff over AI spending hit shares, leaving it worth $5.03 trillion before Monday's earnings, the first under CEO John Ternus. Analysts expect about $113 billion in sales, up roughly 10% from a year ago, and profit of $1.99 per share. Apple's own forecast (guidance) was for a profit margin of 47% to 48%, down from 50.1% last quarter, as memory chips get more expensive. Investors also want updates on the rebuilt Siri and the new iPhone 18 Pro.
Why it matters
Apple is the world's most valuable listed company at about $5 trillion, so its results can move the wider market and the index funds many people own. This report shows whether Apple can keep growing while memory chips cost more, since it must either raise prices or accept lower profit. It is also the first test of new CEO John Ternus.
Who this affects
- MarketmixedHigh impact
- Index-fund holders face a swing from Apple's $5T weight.
- CompanymixedHigh impact
- Shareholders face profit pressure from pricier memory chips.
- CompetitorsbearishMedium impact
- Other phone makers face the same memory price pressure.
- IndustrymixedMedium impact
- Memory makers gain while device makers absorb higher costs.
Apple vs Nvidia
How we got here
Apple reports $109.4B June-quarter revenue, up 16%, and guides a lower margin.
Apple shares set a record close ahead of earnings.
Tech selloff leaves Apple about 1% below its record, worth $5.03T.
Apple reports fiscal fourth-quarter results after the close, Ternus's first call as CEO.
What to watch
- Gross margin versus the 47%-48% forecast, and any comment on memory costs2026-11-02
- Holiday-quarter forecast, plus iPhone 18 Pro, Siri and Services growth commentary2026-11-02
Educational content only. Not investment advice.
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