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Apple's Q2 Earnings: Strong iPhone 17 Shipment to Aid Top-Line Growth
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Key Takeaways
Apple's Q2 FY26 results on April 30 are expected to benefit from strong iPhone 17 sales.
Apple led Q1'26 smartphones with 21% share; shipments rose 5% y/y on iPhone 17 demand.
New MacBook and iPad launches point to modest Mac sales growth and a year-over-year iPad revenue increase.
Apple’s (AAPL - Free Report) second-quarter fiscal 2026 results, to be reported on April 30, are expected to benefit from strong iPhone 17 sales. The device accounted for 59.3% of net sales in the first quarter of fiscal 2026, wherein sales jumped 23.3% year over year to $85.27 billion.
Per Counterpoint’s Q1’26 data, Apple led the smartphone market with 21% share and shipments increased 5% year over year, driven by strong iPhone 17 demand, proactive supply chain management and improved performance in China.
In March, Apple launched iPhone 17e, its more affordable device, starting at $599. The Zacks Consensus Estimate for fiscal second-quarter iPhone sales is pegged at $56.706 billion, suggesting roughly 21.1% year-over-year growth.
Click here to learn how Apple’s overall fiscal second-quarter earnings results are likely to be.
The PC segment climbed up 4% in the first quarter of calendar 2026, according to Gartner, while per IDC the growth was far more modest at 2.5%. Per IDC, Apple had a market share of 9.5%, up 40 basis points (bps) on a year-over-year basis. Shipment grew 9.1% year over year to 6.2 million. Per Gartner, Apple had a market share of 10.6%, up 80 bps year over year, while shipments grew 12.7% year over year to 6.68 million.
In terms of shipments, Apple outperformed Dell Technologies’ (DELL - Free Report) and Lenovo’s (LNVGY - Free Report) growth of 9.5% and 7.6%, respectively, per Gartner data. HP’s (HPQ - Free Report) shipment declined 4.9%. According to IDC’s list, ASUS shipment growth was 17.1%, trailed by Apple’s 9.1%, Lenovo’s 8.6% and Dell Technologies’ 7.7% growth. HP’s shipment declined 4.9%.
In March, Apple launched the new MacBook Air with M5 support and the new MacBook Pro with M5 Pro and M5 Max. The company also launched MacBook Neo, its most affordable laptop ever, with a starting price of $599.
The Zacks Consensus Estimate for fiscal second-quarter Mac net sales is pegged at $8.18 billion, suggesting 3% year-over-year growth.
Apple’s iPad Sales to Increase Y/Y
iPad accounted for roughly 6% of fiscal first-quarter net sales. iPad revenues are expected to have benefited from improving demand for iPad Pro that Apple launched in the fourth quarter of fiscal 2025. In March, Apple launched the iPad Air, powered by M4.
The Zacks Consensus Estimate for fiscal second-quarter iPad net sales is pegged at $6.634 billion, suggesting a 3.6% year-over-year increase.
View the Zacks #1 Rank List
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Apple's Q2 Earnings: Strong iPhone 17 Shipment to Aid Top-Line Growth
Key Takeaways
Apple’s (AAPL - Free Report) second-quarter fiscal 2026 results, to be reported on April 30, are expected to benefit from strong iPhone 17 sales. The device accounted for 59.3% of net sales in the first quarter of fiscal 2026, wherein sales jumped 23.3% year over year to $85.27 billion.
Per Counterpoint’s Q1’26 data, Apple led the smartphone market with 21% share and shipments increased 5% year over year, driven by strong iPhone 17 demand, proactive supply chain management and improved performance in China.
In March, Apple launched iPhone 17e, its more affordable device, starting at $599. The Zacks Consensus Estimate for fiscal second-quarter iPhone sales is pegged at $56.706 billion, suggesting roughly 21.1% year-over-year growth.
Click here to learn how Apple’s overall fiscal second-quarter earnings results are likely to be.
Apple Inc. Revenue (TTM)
Apple Inc. revenue-ttm | Apple Inc. Quote
Apple to Post Modest Y/Y Mac Sales Growth
The PC segment climbed up 4% in the first quarter of calendar 2026, according to Gartner, while per IDC the growth was far more modest at 2.5%. Per IDC, Apple had a market share of 9.5%, up 40 basis points (bps) on a year-over-year basis. Shipment grew 9.1% year over year to 6.2 million. Per Gartner, Apple had a market share of 10.6%, up 80 bps year over year, while shipments grew 12.7% year over year to 6.68 million.
In terms of shipments, Apple outperformed Dell Technologies’ (DELL - Free Report) and Lenovo’s (LNVGY - Free Report) growth of 9.5% and 7.6%, respectively, per Gartner data. HP’s (HPQ - Free Report) shipment declined 4.9%. According to IDC’s list, ASUS shipment growth was 17.1%, trailed by Apple’s 9.1%, Lenovo’s 8.6% and Dell Technologies’ 7.7% growth. HP’s shipment declined 4.9%.
In March, Apple launched the new MacBook Air with M5 support and the new MacBook Pro with M5 Pro and M5 Max. The company also launched MacBook Neo, its most affordable laptop ever, with a starting price of $599.
The Zacks Consensus Estimate for fiscal second-quarter Mac net sales is pegged at $8.18 billion, suggesting 3% year-over-year growth.
Apple’s iPad Sales to Increase Y/Y
iPad accounted for roughly 6% of fiscal first-quarter net sales. iPad revenues are expected to have benefited from improving demand for iPad Pro that Apple launched in the fourth quarter of fiscal 2025. In March, Apple launched the iPad Air, powered by M4.
The Zacks Consensus Estimate for fiscal second-quarter iPad net sales is pegged at $6.634 billion, suggesting a 3.6% year-over-year increase.
Zacks Rank
Apple currently has a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.