Apple Shares Dip Ahead of Earnings Report

Apple stock slipped 1.05 percent to $341 as investors await its fiscal fourth-quarter results and first earnings call under CEO John Ternus.

Updated on Nov. 2, 2026 in Public Companies

Apple Shares Dip Ahead of Earnings Report

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Apple Inc. shares fell 1.05 percent, or 3.63 points, to USD 341 while the S&P 500 rose 0.4 percent to 7,613.52. The company is set to report fiscal fourth-quarter earnings after Monday trading.

Why it matters

Investors are focused on whether Apple's forecast shows new products can offset rising memory chip costs, which Tim Cook has described as a "100-year flood." The results will also be the first earnings call hosted by CEO John Ternus.

Analysts expect Apple's services business to grow almost 10 percent to $31.56 billion, but the company's actual revenue and profit figures will not be known until after Monday trading. Whether new products such as the iPhone Duo foldable can offset memory cost pressures will only become clear in the forecast.

The players

Apple Inc.

A Cupertino, California-based technology company best known for the iPhone, Mac computers and its services business, and a major component of the S&P 500.

John Ternus

Apple's newly appointed chief executive who succeeded Tim Cook in September and will host the company's first earnings call under his leadership.

Tim Cook

Apple's former chief executive who led the company for more than a decade and described rising memory costs as a "100-year flood."

The details

Apple shares fell 1.05 percent to USD 341 on the US Stock Market while the Nasdaq and Dow advanced, ahead of its earnings release after Monday trading. The iPhone Duo, Apple's first foldable, began shipping October 23, alongside its first foldable phone, smart home hub and touch-screen laptops during the current fiscal first quarter.

October 23, 2026: The iPhone Duo foldable came out.
September 2026: John Ternus took over as Apple CEO from Tim Cook.
November 2, 2026: Apple reports earnings after Monday trading.
November 3, 2026: US Election Day.

Market Landscape

This earnings report is the first major financial test for Apple under John Ternus, who replaced longtime CEO Tim Cook in September. Investors will judge whether the company can manage rising memory chip costs while launching new hardware categories.

Apple's forecast on memory costs could influence future iPhone and laptop pricing for consumers. Shareholders with Apple exposure in index funds will see the stock's performance feed directly into their retirement and brokerage balances.

The takeaway

Rising component costs are pressuring the largest technology companies, so watch how Apple answers questions on memory pricing during its earnings call. Those answers will signal whether higher hardware prices are likely to reach consumers.

What happens next

Apple will report fiscal fourth-quarter earnings after Monday trading on November 2, 2026, with John Ternus hosting his first earnings call that afternoon.