Apple stock nears earnings report amid margin concerns
Apple's stock price was trading at $332.72 on the NASDAQ on October 6, 2026, marking a slight decline of 0.05% from the previous close. The upcoming earnings report on October 29, 2026, is a critical checkpoint for investors, as the company faces tightening margins.
The tech giant reported fiscal Q3 2026 revenue of $109.4 billion, a 16% year-over-year increase. Diluted earnings per share stood at $2.02, exceeding the consensus estimate of $1.89. Net income for the quarter was $29.789 billion, with a net profit margin of 27%. However, Apple guided for a slower revenue growth of 9% to 11% in the September quarter, with gross margins expected to drop to 47% to 48% due to higher memory costs.
Morgan Stanley adjusted its price target for Apple from $360 to $355 on October 1, 2026, while maintaining an Overweight rating. This revised target is 6.70% above the current stock price. Analysts from Investing.com have a Buy consensus with an average 12-month target of $328.09, slightly below the current trading price, highlighting the importance of the upcoming earnings report.
As of October 6, 2026, Apple's market capitalization was $4.9 trillion, with the stock trading within a 52-week range of $243.42 to $345.34. The current price is 3.66% below the 52-week high, setting the stage for the earnings release to determine whether the company's growth can offset the expected margin compression.