Apple’s annual report on Form 10-K, filed with the US Securities and Exchange Commission, shows net sales of $478.8 billion for the fiscal year that ended on 26 September 2026, up 15 per cent from $416.2 billion a year earlier. Net income rose to $132.2 billion from $112.0 billion, and diluted earnings per share reached $8.98 against $7.46.
Services net sales reached $123.3 billion, up 13 per cent. iPhone net sales rose on stronger sales of Pro models, according to the filing. Mac sales rose 13 per cent to $37.9 billion, while iPad ($27.9 billion) and Wearables, Home and Accessories ($35.6 billion) were flat. Gross margin was $233.6 billion, and operating income came to $158.1 billion.
Greater China leads regional growth
By region, Greater China grew fastest: net sales climbed 28 per cent to $82.4 billion, after a 4 per cent fall the year before. Rest of Asia Pacific rose 18 per cent to $39.9 billion, Europe – which Apple defines to include India, the Middle East and Africa – rose 15 per cent to $127.6 billion, and Japan grew 8 per cent to $30.9 billion.
Research and development spending jumped 32 per cent to $45.8 billion, equal to 10 per cent of net sales, while selling, general and administrative costs rose 8 per cent to $29.8 billion. Apple reports about 167,000 full-time equivalent employees and 14.53 billion shares outstanding as of 23 October 2026.
Why it matters
This is the first full-year filing under CEO John Ternus, as covered in our report on his first earnings call. It sets the baseline for a holiday quarter in which Apple has trimmed its margin guidance, and it gives the full picture behind the record R&D spending figure.