Tim Cook to host final Apple earnings call Thursday

Apple ↘ 0.80% will hold its fiscal third-quarter 2026 earnings call on Thursday afternoon, marking Tim Cook's last such event as chief executive before he hands the reins to John Ternus on September 1. The call is scheduled for 2:00 p.m. PT, capping a 15-year tenure during which Cook oversaw a transformation of Apple into the world's most valuable public company.africa.businessinsider+2

A Historic Transition at a High-Water Mark

The timing is notable. Apple briefly touched a $5 trillion market capitalization this month, and its stock is up 26% year-to-date, making it the top performer among the Magnificent Seven mega-cap technology stocks. Cook will transition to the role of executive chairman.instagram+3

The earnings report arrives during a turbulent week on Wall Street. On Wednesday, the Dow Jones Industrial Average fell more than 1,150 points — its steepest single-day decline since April 2025 — after the Federal Reserve held interest rates steady and Meta Platforms ↗ 1.02% reported disappointing results. Futures pointed to a partial recovery Thursday morning, buoyed by Microsoft's ↗ 0.52% stronger-than-expected cloud earnings.rollingout+1

What Analysts Are Watching

Wall Street's focus for Apple centers on several themes: the company's AI strategy, iPhone 18 pricing, and the impact of rising memory costs on margins.africa.businessinsider

Goldman Sachs The Goldman Sachs Group, Inc. ↘ 1.38% expects Apple to post 18% year-over-year revenue growth, beating the consensus estimate of 15%, driven by strong iPhone and Mac sales. The bank projects earnings of $1.93 per share against a $1.89 consensus. Apple reported $111.2 billion in revenue in the prior quarter, up 17% year over year.apple+1

Jefferies, however, flagged downside risk, with a base-case price target implying roughly 10% decline from current levels. Analyst Edison Lee warned that "although AAPL's premium iPhone roadmap and ability to raise prices would partly offset higher memory costs, margin is on the downside".africa.businessinsider

Morningstar's chief U.S. market strategist Dave Sekera said he wants to hear more about Apple's AI vision. "Apple has steered clear of capex spending on the AI buildout boom, which I think will probably serve them well over the longer term, but for now, we're still not really understanding Apple's killer case for AI," Sekera said.africa.businessinsider

The Road Ahead

Investors will also be listening for details on Apple Upgrade, a new leasing program announced earlier this week that Bank of America called "directionally positive" for lowering affordability friction and accelerating replacement cycles. Ternus, currently senior vice president of hardware engineering, inherits a company with strong momentum but mounting questions about how it will navigate an industry defined by AI spending.elephas+2