苹果发布2026财年第三财季财报，营收与利润双双刷新纪录，但随后公布的下一季度指引令市场失望。[1][2]第三财季总营收达1094.17亿美元，同比增长16%，[2]净利润297.89亿美元增长27%，[1][2]稀释后每股收益2.02美元增长29%。[2]其中iPhone营收542.52亿美元同比增长21.7%，[1]创下六月季度历史新高；Mac营收103.52亿美元增长28.7%；[2]服务业务营收307.39亿美元，增长12%，[2]未达预期312.2亿美元。[2]公司全平台付费订阅用户突破15亿，活跃设备超25亿台。[1][4]
但公司对第四财季的谨慎态度引发股价暴跌。CFO凯文·帕雷克披露，第四财季营收增长指引仅为9%-11%，[1]远低于华尔街预期的12.1%。[1]这一指引下调主要源于供应链压力。CEO蒂姆·库克表示："供应链根本没有足够的灵活性来满足如此高水平的需求。"[2]库克进一步指出，内存价格正在指数级上涨，[5]并预计第四季度内存成本进一步上升。[2]本季度毛利率达50.1%，其中约2个百分点增长来自关税回扣，[4]但下季度毛利率预计降至47%-48%。[5]
财报发布后，苹果股价在盘后交易时段应声下跌。[1]这也是库克担任CEO期间发布的最后一份完整财季财报，[2]他将于9月1日卸任CEO，由硬件工程高级副总裁约翰·特纳斯接棒。[2]此外，苹果董事会宣布每股派发0.27美元现金股息，将于8月13日完成发放。[1]
Apple released its fiscal 2026 third-quarter results, posting record-breaking performance across key metrics while simultaneously triggering a sharp market selloff due to cautious outlook for the upcoming period. Total revenue reached $1,094.17 billion, representing a 16 percent year-over-year increase and surpassing analyst consensus of $1,086.5 billion [1]. Net income climbed to $297.89 billion with a 27 percent gain [1], while diluted earnings per share reached $2.02, up 29 percent from the prior year [1].
The company's hardware segment drove much of the growth momentum. iPhone revenue hit $542.52 billion, marking a 21.7 percent increase and setting a record for the June quarter [1]. Mac sales surged 28.7 percent to $103.52 billion, also reaching a seasonal high [2]. The greater China region generated $188.16 billion in revenue, expanding 22.4 percent but falling short of the analyst expectation of $196.7 billion [4]. However, services revenue grew only 12 percent to $307.39 billion, disappointing expectations of $312.2 billion [2]. The company maintained a gross margin of 50.1 percent, though approximately 2 percentage points derived from tariff refunds [2]. Apple's paid subscription base surpassed 1.5 billion users globally [1].
The market's enthusiasm evaporated following management's fourth-quarter guidance. Chief Financial Officer Kevin Pareek projected fourth-quarter revenue growth of 9 to 11 percent, substantially below Wall Street's estimate of approximately 12.1 percent [1]. The company also predicted gross margins would decline to 47 to 48 percent, a drop of roughly 1 to 1.5 percentage points [5]. Chief Executive Officer Tim Cook attributed the constraint to supply-chain challenges, stating: "We are struggling with the supply chain, and the supply chain has far less flexibility than usual" [2]. He further noted that memory chip costs face continued upward pressure, describing the price surge as a "once-in-a-century flood" [5].
Stock price plunged in after-hours trading, falling as much as 8.37 percent and closing the session down 6.33 percent, erasing more than $300 billion in market capitalization [1]. The board declared a quarterly cash dividend of $0.27 per share, payable on August 13 [1]. Cook, who will step down as CEO on September 1 and transition to executive chairman of the board with John Ternus assuming the chief executive role [2], indicated this was his final earnings call as the company's top executive [4].
