Apple's revenue growth has slowed, and demand in China has been disappointing. What about iPhone sales?

Apple's revenue in the fourth quarter of fiscal year 2026 exceeded Wall Street's expectations, but its growth rate slowed compared to the previous reporting period. The company fell short of sales forecasts in China. However, demand for the iPhone remains high: global revenue from smartphone sales increased by nearly 20%.

Apple's revenue for the last quarter, which ended on September 26, rose 12% year-over-year to $114.48 billion. Analysts surveyed by LSEG had expected $113.39 billion, according to CNBC. Apple itself had forecast a 9–11% increase. Earnings per share rose 14% to $2.1.

Apple’s revenue growth slowed compared to the previous quarter, when it stood at 16%. In September, the company broke with tradition by not updating its base iPhone model, and supply chain disruptions prevented it from securing enough devices for sale, Bloomberg explains. In addition, Apple is seeing a slowdown in revenue growth from digital services and subscriptions, including the App Store and iCloud, and the company is trying to catch up with its competitors in the field of artificial intelligence, the agency reports.

But iPhone revenue still exceeded Wall Street’s expectations: it rose 17.6% to $57.58 billion, compared with the projected $56.54 billion. The report includes only 8 days of sales for the new iPhone 18 Pro and iPhone 18 Pro Max, and the foldable iPhone Duo didn’t hit stores until after the quarter ended.

The company's results in Greater China fell short of forecasts: Apple's total sales there rose by about 20% to $17.5 billion, but were below Wall Street's expectations. iPad sales also fell short of Wall Street’s expectations, Bloomberg notes.

Apple shares fluctuated between a 0.3% decline and a slight gain in after-hours trading on November 2 following the release of its earnings report. During regular trading on Monday, they fell 1.8% to $338.3.

This news story is being updated...

This article was AI-translated and verified by a human editor