Ternus's first earnings as Apple CEO show strong iPhone sales but margin pressure ahead
John Ternus has released his first earnings report since becoming Apple's CEO. The company posted fourth-quarter 2026 revenue of $114.5 billion. iPhone sales climbed 17 percent to $57.58 billion, and the Mac had its strongest year on record. However, rising memory costs are expected to push gross margin down to 45 to 46 percent in the holiday quarter. Supply of the iPhone Duo also remains constrained.
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