Apple reports Q3 earnings today, Tim Cook's final call as CEO

Apple reports its third-quarter earnings today, marking Tim Cook’s final earnings call as CEO before he transitions to executive chairman on September 1, 2026. Wall Street expects the tech giant to post earnings per share of approximately $1.89 on revenue around $108.8 billion, representing roughly 15 percent growth from the year-ago quarter.

Cook has led Apple for 15 years, taking over in 2011 after the death of Steve Jobs. During his tenure, the company’s market value grew from roughly $350 billion to nearly $4 trillion, making it one of the world’s most valuable companies. The earnings announcement carries symbolic weight as it represents the final financial milestone of his leadership era.

An empty modern boardroom with a single executive chair at the head of a glass table, sunlight streaming through floor-to-ceiling windows overlooking a corporate campus, symbolizing transition and legacy.

John Ternus, Apple’s senior vice president of hardware engineering, will assume the CEO role on September 1, 2026. Ternus joined Apple in 2001 and has spent 25 years at the company, overseeing the hardware engineering team since 2021. His background as a mechanical engineer represents a shift back to a product-focused leader at Apple’s helm—a model the company followed under Steve Jobs.

The transition was announced in April 2026, giving the company several months to prepare for the leadership change. Apple’s stock has neared $5 trillion in market value as the company approaches this pivotal moment, with investors watching closely for signals about the company’s direction under new leadership.

A modern Apple product design studio with sleek prototypes on illuminated display tables, technical drawings on walls, and design tools scattered across workbenches—no people visible, emphasizing the engineering focus.

Analysts expect Apple’s Services business to drive growth, with revenue projected around $31.4 billion, up from $27.4 billion a year earlier. iPhone sales are expected to reach approximately $53 billion, reflecting continued demand for the company’s flagship product line. The company has also faced scrutiny over pricing strategies, with recent price increases on Macs and iPads potentially affecting consumer sentiment heading into the earnings release.

Cook’s departure marks the end of an era that saw Apple introduce numerous products and services, expand globally, and weather significant supply chain challenges. His tenure also included Apple’s pivot toward services revenue and sustainability initiatives. The company’s $600 billion US spending commitment, announced last year, stands as a major investment plan that will extend beyond Cook’s leadership.

Sources

CNBC — Tim Cook’s final earnings call timing and Apple’s market value context
Seeking Alpha — Wall Street earnings expectations for Q3 2026
Apple Newsroom — Official announcement of CEO succession and September 1 transition date
The Guardian — John Ternus background and hardware engineering leadership
Bloomberg — Tim Cook’s 15-year legacy and market valuation growth
MacDailyNews — Services revenue projections and analyst consensus

About the author, Chris Martin

Chris Martin is a US economics and current affairs journalist covering the intersection of policy, markets, and everyday financial life. With a background in financial reporting and a sharp eye for the stories behind the numbers, Chris brings clarity to some of the most complex issues shaping the American economy today. At ECIKS.org, Chris covers breaking developments across domestic economic policy, business strategy, Wall Street movements, and political decisions that ripple through financial markets. His reporting blends rigorous data analysis with accessible storytelling making critical information useful for investors, entrepreneurs, and engaged citizens alike.