Finsyt AI SummaryQ4 FY2026 · Updated Apr 10, 2026▲ Neutral
Apple reported Q1 FY2026 revenue of $124.3B (+4% YoY), in-line with expectations. Services continues to outperform (+15% YoY to $26.3B), now representing 21% of revenue and carrying 74% gross margins. iPhone revenue was flat as the iPhone 17 cycle showed modest unit growth in China. Apple Intelligence features drove meaningful upgrades in the Americas and Europe. Management did not provide formal Q2 guidance but implied low-single-digit growth. Buyback pace remained aggressive at ~$25B per quarter.