Apple and Palantir Both Report Q4 and Q3 Results Today After Market Close

Two of the most closely watched names in the market report quarterly results tonight, and together they'll test the durability of a tech rally that has carried through most of 2026.

Apple is due to post its fiscal fourth quarter after the close today. <cite index="18-1">The consensus calls for earnings per share of $2 on revenue of $113.46 billion, according to Bloomberg analyst estimates.</cite> <cite index="18-2">A year ago the company reported EPS of $1.85 on revenue of $102.46 billion</cite>, which means the Street is pricing in roughly 10.7% top-line growth. That's a slower pace than the prior three quarters: <cite index="10-2">the March quarter posted 17% year-over-year revenue growth</cite>, and <cite index="12-2">the June quarter came in at 16% growth</cite>.

Two headwinds explain the deceleration. <cite index="16-5">Management guided last quarter for fiscal Q4 revenue to grow between 9% and 11% year over year, citing a 2.5 percentage-point foreign exchange headwind and supply constraints affecting iPhone, Mac, and iPad.</cite> <cite index="16-7">Apple also guided for a gross margin between 47% and 48%, down from 50.1% last quarter, though that prior figure included roughly a two-percentage-point benefit from tariff refunds.</cite> Margin compression from the tariff comparison alone is worth watching closely on the call.

On the segment side, <cite index="18-5,18-6">iPhone sales are projected at $56.48 billion, up 15% year over year, while Services, the company's second-largest segment, is expected to top $31.58 billion.</cite> <cite index="15-11">Services gross margin sits above 75%</cite>, so any shortfall there would punch above its weight on the income statement.

Everest-size expectations aren't unique to Apple tonight. Palantir reports Q3 results from the same after-hours window, and the gap between its own guidance and analyst estimates is a story in itself. <cite index="19-1,19-2">The company guided for Q3 revenue of $2.160 to $2.164 billion and adjusted income from operations of $1.292 to $1.296 billion, according to the Q2 8-K filed with the SEC.</cite> <cite index="23-5">Wall Street's consensus puts Q3 revenue at $2.18 billion</cite>, already above the top of that range. Some buyside estimates run higher still.

The pattern is not new. <cite index="26-7,26-8">Revenue increased 16% sequentially in Q1 2026 and 19% sequentially in Q2; year-over-year growth reached 93% in Q2, up from 85% in Q1,</cite> each quarter beating the company's own prior-period guidance. <cite index="25-4,25-5,25-6">Q2 revenue hit $1.935 billion, with U.S. commercial revenue of $764 million, up 149% year over year, and U.S. government revenue of $809 million, up 90% year over year.</cite>

<cite index="27-9">Palantir raised its full-year 2026 revenue forecast to between $8.15 billion and $8.158 billion, implying roughly 82% annual growth.</cite> The stock has moved considerably since that August update. <cite index="27-8">Shares have climbed about 46.5% since the last earnings call,</cite> per TipRanks, so the implied beat is already partly priced in.

Two things worth watching beyond the headline numbers: whether Palantir's international commercial segment accelerates, since <cite index="27-10">international commercial revenue rose just 2% sequentially last quarter</cite>, and whether Apple's management offers anything on iPhone 18 supply normalization heading into the holiday quarter. The December quarter guide will matter more to traders tonight than the September print.

Both companies report after 4 p.m. Eastern, with conference calls beginning at 5 p.m.

Sources cited:
- Bloomberg analyst consensus via Yahoo Finance (https://finance.yahoo.com/technology/article/apple-to-report-q4-earnings-monday-with-iphone-18-sales-in-the-spotlight-190138409.html)
- Apple Form 8-K, Q3 FY2026, SEC filing (https://www.sec.gov/Archives/edgar/data/0000320193/000032019326000018/a8-kex991q3202606272026.htm)
- 9to5Mac (https://9to5mac.com/2026/10/06/apple-sets-q4-2026-earnings-release-for-november-2/)
- Apple Insider (https://appleinsider.com/articles/26/11/01/what-to-expect-from-apples-q4-2026-results-on-november-2)
- Palantir Technologies Form 8-K, Q2 FY2026, SEC filing (https://www.sec.gov/Archives/edgar/data/0001321655/000132165526000039/a2026q2ex991pressrelease.htm)
- MarketBeat, PLTR Q3 2026 Earnings Estimates (https://www.marketbeat.com/earnings/reports/2026-11-2-palantir-technologies-inc-stock/)
- TipRanks (https://www.tipranks.com/news/palantir-pltr-q3-earnings-preview-can-ai-growth-match-last-quarters-93-surge)
- The Motley Fool (https://www.fool.com/investing/2026/10/23/palantir-guided-for-216-billion-in-revenue-for-q3/)
- Seeking Alpha (https://seekingalpha.com/article/4960089-apple-earnings-preview-q4-2026)