Dubai, United Arab Emirates – November, 2026: Apple heads into its upcoming earnings announcement with high investor expectations, as strong demand for its latest devices raises questions about whether the technology giant can meet demand while protecting profitability.
Apple shares have gained approximately 13% since its July earnings announcement, significantly outperforming the S&P 500 over the same period. With much of the optimism already reflected in the share price, investors will be looking for evidence that the company can sustain its momentum.
Josh Gilbert, Lead Analyst APAC and Middle East at etoro, commented: “John Ternus faces his first earnings announcement as Apple CEO with expectations already running high. Apple’s share price has risen around 13% since its July results, comfortably outperforming the broader market. That puts pressure on the company to deliver more than strong headline numbers.
“Demand appears to be holding up well, particularly for Apple’s new foldable iPhone Duo. Long delivery wait times suggest strong consumer interest, while Apple has guided to mid-teens iPhone revenue growth for the quarter. The bigger question is whether the company can produce enough devices to meet that demand.
“For UAE consumers, this is particularly relevant. The Duo launched in the country on 23 October, with prices starting at AED 8,499, making the UAE one of the first markets to test demand for Apple’s premium foldable device. At that price, strong early interest is encouraging, but Apple’s ability to maintain availability will be important in determining whether that demand translates into sustained sales.
“Profit margins will be another key area to watch. Apple has guided to gross margins of between 47% and 48%, but rising memory costs continue to put pressure on profitability. The company introduced price increases in September to help offset those costs, although there is little indication that memory prices will ease in the near term.
“Apple’s services business has traditionally helped cushion these pressures, benefiting from gross margins of approximately 75%. However, services revenue growth is expected to slow to around 10% this quarter, compared with 15% a year earlier. That means Apple may have less support from one of its most profitable divisions at a time when hardware costs are rising.
“This earnings announcement also marks an important moment in Apple’s leadership transition. While Tim Cook’s tenure was largely defined by the expansion of services, Ternus appears set to place renewed emphasis on hardware innovation. With the foldable iPhone and Apple’s first touchscreen MacBook arriving within weeks of each other, investors will be watching closely to see whether these products can deliver meaningful growth.
“Apple has built considerable momentum, but the market will want reassurance that the company can turn strong demand into higher sales without sacrificing margins. With investors still waiting for a clearer payoff from its AI strategy, execution across its hardware business will be critical to maintaining confidence in the stock.”
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