Apple’s record $478.8 billion in 2026 revenue comes with margin pressure

Apple reported record revenues for fiscal 2026 of $478.8 billion on November 2, alongside record net income of $132.2 billion. iPhone and Mac sales powered the year’s finish, but the December-quarter outlook included a lower gross margin as component costs rose. Key takeaways Apple’s annual revenue rose 15%, while net income increased 18%. Mac led quarterly divisional growth; Services reached an all-time sales high. Tariff refunds added about one percentage point to quarterly gross margin. Apple expects December-quarter revenue growth of 7% to 10%.

Source: The Cryptonomist