Previewing Apple’s 1Q26 Earnings: My Estimates, Above Avalon Expectation Meters (1Q26 Edition)
Hello everyone. Today’s update will conclude our Apple 1Q26 earnings preview. Apple reports earnings on Thursday at 4:30 pm ET.
Let’s jump in.
Previewing Apple’s 1Q26 Earnings: My Estimates
The overall theme to my Apple FY1Q26 estimates: improving fundamentals. Most financial line items are trending better in FY2026 compared to FY2025. There are a few exceptions which we will discuss in a few minutes.
Apple will report the following records on Thursday:
Revenue (quarterly)
Operating income (quarterly)
Net income (quarterly)
iPhone revenue (quarterly)
Services quarterly revenue
Services gross margin
Here are my expectations for Apple’s key 1Q26 metrics:
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