During an earnings call on November 2, Apple’s CFO Kevan Parekh said the company expects the final quarter of this year to deliver the highest revenue in its history. The outlook follows Apple’s record-breaking Q3 2026 results and points to a strong near-term performance despite supply chain constraints, rising component costs and inventory shortages.

Apple expects Q4 2026 to become its biggest quarter ever in terms of revenue.

However, the company acknowledged that unpredictable macroeconomic conditions could create challenges, with currency exchange rates potentially becoming its biggest hurdle. Rising RAM prices and continued supply chain constraints could also put pressure on profit margins. Demand for Mac, iPad and the new iPhone Duo has been stronger than expected, catching Apple off guard. As a result, inventory shortages could limit the company’s ability to meet demand and affect revenue until December.

For the holiday quarter, Apple expects revenue to reach between $153.82 billion and $158.13 billion, representing an increase of approximately $10 billion to $14.4 billion compared to the same period last year. Growth is expected to be supported partly by an 8% to 9% increase in services revenue. Parekh also projected a gross margin of between 45% and 46%, while operating expenses are expected to range from $20.4 billion to $20.8 billion.