Apple Guides Holiday-Quarter Gross Margin Down to 45%–46% on "Unprecedented" Memory Price Surge

• Dispatched: Nov 2, 2026 · 19:42 ET (Nov 3, 00:42 UTC)
• Summary: On its earnings call, Apple guided December-quarter gross margin to 45%–46% (down from 47.9% in Q4), citing rising memory chip costs and new Siri AI expenses, and noted memory supply will constrain Mac and iPad holiday availability. Revenue is guided +7%–10% YoY and Services +8%–9% YoY. Manufacturing purchase commitments rose by $33B between June and September.

Information summary only, not investment advice.