{"id":"1794049436850-money-segment","slug":"apple-beats-stock-still-drops","title":"Apple Beats, Stock Still Drops","summary":"Apple reported fiscal Q4 2026 results on Nov. 2, 2026. Revenue was $114.48B, above estimates of about $113.4B, and EPS was $2.10, above estimates of about $1.99–2.00. iPhone revenue was strong at $57.58B. China revenue missed at $17.54B. But Apple guided December-quarter gross margin to 45–46%, down from 47.9% in the latest quarter, and services growth of 8–9%, below the roughly 10.7% analysts expected. Shares fell about 4% initially in after-hours trading, then pared losses to about a 2% decline.\n\nThe results were helped by iPhone 18 Pro demand and price increases, but investors focused on the outlook: Apple warned memory-chip costs would keep rising, pressuring margins. The company is also dealing with iPhone Duo supply constraints and some display issues. This was Apple's first earnings call under new CEO John Ternus.\n\nPolymarket did list a market asking whether France's 2027 presidential election will be delayed; early trading showed about 9% odds for “Yes,” with very low volume.\n\nApple's fiscal Q4 2026, reported Nov 2, 2026, beat expectations: revenue was $114.48B vs about $113.4B expected, EPS was $2.10 vs about $1.99 expected, and iPhone revenue was $57.58B vs about $56.5B expected. Apple shares still fell roughly 2% after hours/early the next day because the December-quarter margin and services-growth outlook disappointed.","publishedAt":"2026-11-07T11:03:56.850Z","channel":{"id":"money","name":"Oncast Money","language":"en"},"show":"Morning Brief","verification":{"status":"verified","leadVerdict":"TRUE","notes":"TRUE: Polymarket did list a market asking whether France's 2027 presidential election will be delayed; early trading showed about 9% odds for “Yes,” with very low volume.\nSource: [polymarket.com](https://polymarket.com/elections/france) NAMES: Polymarket = crypto-based prediction-market platform. (https://x.com/Polymarket/status/2119015000958251212)\n\nTRUE: Apple's fiscal Q4 2026, reported Nov 2, 2026, beat expectations: revenue was $114.48B vs about $113.4B expected, EPS was $2.10 vs about $1.99 expected, and iPhone revenue was $57.58B vs about $56.5B expected. Apple shares still fell roughly 2% after hours/early the next day because the December-quarter margin and services-growth outlook disappointed.\nSource: [investing.com](https://www.investing.com/news/stock-market-news/apple-results-beat-wall-street-expectationson-strong-iphone-sales-4992898), [finance.yahoo.com] (https://x.com/EmmaStockNotes/status/2117373012295221563)","claims":[{"verdict":"TRUE","summary":"Polymarket did list a market asking whether France's 2027 presidential election will be delayed; early trading showed about 9% odds for “Yes,” with very low volume.","sourceName":"[polymarket.com](https://polymarket.com/elections/france) NAMES: Polymarket = crypto-based prediction-market platform.","sourceUrl":"https://x.com/Polymarket/status/2119015000958251212","claim":"🚨 NEW POLYMARKET: French presidential election delayed? https://t.co/9lNzLqEWXG","author":"@Polymarket"},{"verdict":"TRUE","summary":"Apple's fiscal Q4 2026, reported Nov 2, 2026, beat expectations: revenue was $114.48B vs about $113.4B expected, EPS was $2.10 vs about $1.99 expected, and iPhone revenue was $57.58B vs about $56.5B expected. Apple shares still fell roughly 2% after hours/early the next day because the December-quarter margin and services-growth outlook disappointed.","sourceName":"[investing.com](https://www.investing.com/news/stock-market-news/apple-results-beat-wall-street-expectationson-strong-iphone-sales-4992898), [finance.yahoo.com]","sourceUrl":"https://x.com/EmmaStockNotes/status/2117373012295221563","claim":"$AAPL Apple is down around 2% after a clean earnings beat. iPhone sales exceeded expectations, while gross margins held within guidance. HEADLINE PRINT 🟢 Revenue: $114.48B vs $113.39B expected 🟢 EPS: $2.10 vs $1.99 expected WHAT CHANGED 🟢 iPhone revenue: $57.58B vs $56.48B htt","author":"Emma (@EmmaStockNotes)"}]},"sources":[{"url":"https://x.com/Polymarket/status/2119015000958251212","name":"[polymarket.com](https://polymarket.com/elections/france) NAMES: Polymarket = crypto-based prediction-market platform.","kind":"x","verdict":"TRUE","author":"@Polymarket"},{"url":"https://x.com/EmmaStockNotes/status/2117373012295221563","name":"[investing.com](https://www.investing.com/news/stock-market-news/apple-results-beat-wall-street-expectationson-strong-iphone-sales-4992898), [finance.yahoo.com]","kind":"x","verdict":"TRUE","author":"Emma (@EmmaStockNotes)"}],"url":"https://oncast.fm/story/1794049436850-money-segment-apple-beats-stock-still-drops","listenUrl":"https://oncast.fm/c/money","attribution":{"publisher":"Oncast","site":"https://oncast.fm","url":"https://oncast.fm/story/1794049436850-money-segment-apple-beats-stock-still-drops","cite":"Cite https://oncast.fm/story/1794049436850-money-segment-apple-beats-stock-still-drops and the original source links. Fact-check by Oncast (oncast.fm)."},"hostsSaid":[{"host":"Adam","text":"Good morning, Saturday. Apple beat on nearly everything last night, and the stock still fell."},{"host":"Bill","text":"That's the story. Emma on X called it a \"clean earnings beat.\""},{"host":"Adam","text":"Revenue was near 114 and a half billion dollars, above the 113 and a half expected."},{"host":"Bill","text":"Earnings per share came in at two dollars ten cents, above a dollar ninety-nine."},{"host":"Adam","text":"And iPhone revenue was about 57 and a half billion. That's the bright spot."},{"host":"Bill","text":"So the quarter was strong. But the shares dropped about two percent."},{"host":"Adam","text":"The market's already living in the next quarter."},{"host":"Bill","text":"The next quarter's guidance is where it hurts. Gross margin is guided to 45 or 46 percent, down from nearly 48."},{"host":"Adam","text":"Right. Memory-chip costs are still climbing. That's a supply bill, not a demand problem."},{"host":"Bill","text":"So even iPhone 18 Pro demand and higher prices couldn't offset that."},{"host":"Adam","text":"Not enough. Services growth is guided to eight or nine percent. Analysts wanted closer to ten point seven."},{"host":"Bill","text":"Services is the part Wall Street treats like the golden goose."},{"host":"Adam","text":"China revenue missed too, at seventeen and a half billion dollars."},{"host":"Bill","text":"So strong iPhone, but costs up, China soft, services slowing. I get why the stock dropped, but come on, two percent after a beat?"},{"host":"Adam","text":"The guidance is literally the next three months, Bill. Investors sold the future, not the past."},{"host":"Bill","text":"Fair, but the quarter still deserved its applause."},{"host":"Adam","text":"This was also John Ternus's first earnings call as Apple's CEO. No soft open."},{"host":"Bill","text":"Bob O'Donnell from TECHnalysis says the real challenge is fixing iPhone Duo screen issues while ramping production."},{"host":"Adam","text":"And memory prices are only going one direction."},{"host":"Bill","text":"Up. That's how they usually go."},{"host":"Adam","text":"So Apple is strong where it controls things and squeezed where it doesn't."},{"host":"Bill","text":"Now something much weirder out of the prediction markets."},{"host":"Adam","text":"Polymarket posted on X this morning, asking, \"French presidential election delayed?\""},{"host":"Bill","text":"That's not my usual six a.m. election."},{"host":"Adam","text":"The \"yes\" side is trading around nine percent, and volume is very low."},{"host":"Bill","text":"So nine percent odds. Basically a small bet on political chaos, not evidence of a delay."},{"host":"Adam","text":"Low volume means it doesn't take much to move that number."},{"host":"Bill","text":"Prediction markets sometimes list a thing just because the tail risk exists."},{"host":"Adam","text":"Treat it as an early, thin signal. Interesting, but not a headline."},{"host":"Bill","text":"Meanwhile in crypto, Scarlett posted a snapshot on X from just after five this morning Eastern."},{"host":"Adam","text":"Bitcoin near seventy-six thousand dollars, Ethereum around twenty-two forty-five."},{"host":"Bill","text":"So basically flat overnight. Not a lot to see."},{"host":"Adam","text":"There are louder numbers about ETF outflows and liquidations, but the figures vary by data provider."},{"host":"Bill","text":"Right. Until the official tallies land, it's noise."}]}