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Apple just had its best year ever. So why is its stock falling?

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Apple just had its best year ever. So why is its stock falling?

Yesterday, Apple (Nasdaq: AAPL) reported its fourth-quarter results, which closed out its fiscal 2026 financial year.

On the surface, the results were exceptionally strong, with Apple exceeding Wall Street’s expectations on the most important metrics. But after announcing its results, AAPL shares fell, and today in early morning trading they are down. Here’s what you need to know.

Wall Street had some lofty expectations for Apple going into its Q4 2026 earnings report. Analysts had a consensus expectation of Apple delivering $113.46 billion in revenue and earnings per share (EPS) of $2.00.

The company ended up reporting $114.5 billion in revenue and an EPS of $2.10. But things were even better: Its all-important iPhone revenue for the quarter was $57.58 billion, beating analyst expectations by more than a billion dollars, suggesting that, despite price hikes, demand for Apple’s smartphones remains strong. Mac revenue came in at $10.79 billion, also beating analyst expectations by more than a billion dollars.

“Today, Apple is proud to report a September quarter revenue record of $114.5 billion, up 12 percent from a year ago,” Apple CEO John Ternus said, “with iPhone reaching a September quarter record and Services reaching an all-time high, capping off our best fiscal year ever.”

Still, Apple shares fell after its earnings report, which was released after the closing bell yesterday. And today, the company’s stock price is down around 2% as of the time of this writing to $327.25.

Investors love great, record-setting results. But if they love one thing more than results, it’s guidance showing the future is rosy for the company.


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