Apple Posts Record Q1 Revenue of $143.8B, iPhone and China Sales Surge — AAPL

Apple reported record fiscal Q1 2026 revenue of $143.8 billion (+16% YoY) and EPS of $2.84 (+19%), crushing Wall Street estimates ($138B revenue, $2.67 EPS). iPhone sales hit $85.3B on “unprecedented demand,” while Greater China revenue jumped 38% to $25.53B, dispelling market concerns. Services revenue rose 14% to $30B, reinforcing recurring income streams. Gross margin held at 48.2%, beating guidance despite rising component costs. Mac and wearables dipped slightly, but iPad sales grew modestly. R&D spend surged to $10.89B, signaling quiet AI bets — including acquisition of Israeli startup Q.ai for sensor-based voice tech. Apple generated $54B in operating cash flow and returned $32B to shareholders, declaring a $0.26/share dividend (payable Feb 12, 2026). The results reaffirm Apple’s execution strength over speculative AI narratives, buying time to define its intelligence strategy on its own terms.