Apple posts $114.5 billion Q4 record in Ternus's first full fiscal year
As seen on the 24/7 Wall St. homepage on November 2, 2026.
Today, Apple is proud to report a September quarter revenue record of $114.5 billion, up 12 percent from a year ago, with iPhone reaching a September quarter record and Services reaching an all-time high, capping off our best fiscal year ever.
Ternus closes his first fiscal year as CEO with double-digit growth across both iPhone and Services, the combination investors had doubted Apple could still deliver at a $4.9 trillion market cap. The September quarter sets the bar for the holiday guide.
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John Ternus stepped into the chief executive role under considerable skepticism about whether Apple could still generate growth that justifies its valuation. The September quarter answer was a revenue record of $114.5 billion, putting that doubt to rest for at least one reporting cycle.
The two lines investors watch most closely both hit records in the same quarter. iPhone set a September quarter high, and Services reached an all-time peak, which matters because Services carries higher margins and tends to grow more predictably than hardware. Hitting both simultaneously is the combination Wall Street had questioned Apple's ability to repeat at its current scale.
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Ternus described the result as capping off Apple's best fiscal year ever, making the September quarter the closing chapter of a full-year story that held together across all four quarters of his first year running the company.
The immediate forward question is what this quarter sets as the baseline for holiday guidance. A 12 percent revenue gain in the September period raises the bar that the December quarter, historically Apple's largest, will be measured against. How management frames that outlook will be the next signal investors need to assess whether the growth rate is sustainable or a peak.
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Mentioned: AAPL