Apple Inc.
Shortcut
2.00Normalized diluted EPS
+0.6% vs Street
Street
1.99Normalized diluted EPS
November 1 consensus snapshot
Real
2.10Reported normalized EPS
Model download
Explore the assumptions and calculations behind the forecast. This is the agent’s original workbook. Its review didn’t finish, so it hasn’t been checked or repaired.
Shortcut’s reasoning.
Guidance (2026-07-30): revenue +9-11% Y/Y, GM 47-48% incl ~1pt tariff refunds, OpEx $19.1-19.4bn, OI&E ~$350m, tax ~16.5%; midpoints imply ~$1.98 EPS.
Revenue $113.4bn (+10.7%): iPhone $56.4bn (+15%, mid-teens guide) from IDC 57.3m units x $985 ASP (+$100 list pricing, Pro-only launch); Services $31.5bn (+9.6%, June rate less 2.5pt FX); Mac $9.3bn on IDC 5.9m units with June price increases.
GM 47.6% (slightly above 47.5% midpoint): Apple landed at/above the top of GM guidance in 3 of the last 4 quarters, but memory costs and supply constraints rose sequentially.
OpEx $19.3bn near the upper half of guide (Apple has run at/above the top end); OI&E $350m; tax 16.5%; diluted shares 14,637m after ~$22bn buybacks.
EPS $2.00 vs frozen consensus $1.99: P(beat) starts at 0.87 from size/history prior (6/6 beats) and is cut to 0.72 for the thin model margin, rising memory costs and BofA $1.97.
On the record.
- Reporting period
- FQ4 2026 (quarter ended 2026-09-26)
- Reporting basis
- normalized EPS diluted per ordinary/common share, USD (equals GAAP diluted for Apple)
- Consensus snapshot
- November 1, 2026
- Model / effort
- Opus 5.5 · High effort
- Workbook
- Original workbook · review incomplete
Record history
- Forecast generated
- Nov 1, 2026 at 9:30 PM PST
- First posted
- Nov 2, 2026 at 3:21 PM PST
- Result checked
- Nov 2, 2026 at 5:12 PM PST
Result basis
Provider normalized EPS 2.10 agrees with issuer diluted EPS 2.10, including tariff refunds. The 0.05benefit is not removed from the literal provider figure.