Apple Beats Estimates on Strong iPhone Sales, but Chip Cost Concerns Weigh on Shares
Yahoo Finance ·
Apple Inc. posted a stronger-than-expected revenue of $114.5 billion (€102.1bn) for the quarter ending September 26, 2026, driven by record September-quarter iPhone sales. Earnings came in at $2.10 per share, topping FactSet analyst consensus estimates of $1.99 per share on $113.4 billion (€101.1bn) in revenue. Despite beating top and bottom-line expectations, Apple shares fell roughly 3% in after-hours trading as investors digested margin pressures. The company reported a gross margin of 47.9%, partly aided by tariff refunds. However, Apple forecasted that rising memory chip costs and expenditures for Siri AI will pull the December quarter gross margin down to 45%–46%, falling short of the 46.3% analysts had anticipated. Meanwhile, revenue for the upcoming quarter is projected to grow by 7% to 10%, outpacing the 6.1% growth expected by the market.
AI 시장 분석
Apple reported revenue for the quarter ending September 2026 increased 12% year-over-year to $114.5 billion, beating expectations, but its stock fell about 3% in after-hours trading. Despite strong iPhone sales and a recovery in the Chinese market, concerns over rising memory semiconductor costs and expanding AI investments led to projections of mounting margin pressure ahead. Investors showed a higher sensitivity to potential profitability deterioration compared to revenue growth.
상승 영향
- AI — Apple is advancing Siri AI features while keeping capital expenditures low by utilizing partnerships such as Google, limiting financial risks.
하락 영향
- Semiconductors — Profitability pressure intensified as Apple warned that gross margins for the December quarter would drop to 45-46% due to rising memory semiconductor costs.
DYAX 전담 분석
Apple's latest earnings report demonstrated robust iPhone sales ($57.6 billion, up 17.5%) and a rebound in Greater China (up 21%), but guidance indicating that future gross margins would decline to the 45-46% range triggered the stock's drop. Notably, rising memory semiconductor costs and expenses related to Siri AI were cited as key factors pressing profitability, and analysis suggests that excluding one-time tariff refund effects, the actual margin improvement is limited.
Future stock direction will be determined by volatility in memory semiconductor prices and whether the growth rate of the services sector slows down in the upcoming December quarter. In a bullish scenario, strong premium new product sales could offset cost pressures, whereas in a bearish scenario, rising component prices could continually eat into margins and increase downward pressure on the stock, necessitating careful monitoring of supply chain cost metrics.
AI가 생성한 분석으로 투자 자문이 아닙니다.
DYAX Investor Sentiment
Bullish (Long) 47% · Bearish (Short) 53%
245 participants
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