Apple CEO Tim Cook gestures as he departs after a business leaders reception with the US President on the sidelines of the World Economic Forum (WEF) annual meeting in Davos on January 21, 2026.
Apple is set to report fiscal first-quarter earnings on Thursday after the bell.
Here's what Wall Street is expecting, according to LSEG consensus estimates:
EPS : $2.67
: $2.67 Revenue: $138.48 billion
Apple's fiscal first quarter ended in December, and the company previously signaled that it anticipated a lot of people would buy iPhones in the holiday season.
The company said it expected overall revenue to grow between 10% and 12% in the quarter and a similar double-digit growth rate for iPhone sales. That would indicate Apple is expecting between $136.73 billion and $139.22 billion in the first full quarter of iPhone 17 sales.
This has led to optimism among analysts that the company will post a beat on Thursday. Regardless, investors have sold off the stock, and it's down nearly 11% since its peak on Dec. 2.
Analysts will likely press Apple's management on operating costs and how much the company is paying for components like memory and storage that have seen prices skyrocket because of an artificial intelligence-driven shortage.
All of Apple's computers, including the iPhone, Mac and iPad use a lot of storage and memory, raising questions about how the company plans to handle increased component costs during what it says is a major growth cycle. Finance chief Kevan Parekh said in October that while the company was seeing a slight tail wind on memory prices, he downplayed it as "nothing really to note there."
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