Apple Inc. stock research
FY2026 Q2
Apple (AAPL) Gross Margin & Quarterly History
Explore Apple Inc. (AAPL) gross margin from 2023 through the latest reported quarter, using SEC-sourced revenue, gross profit, and direct costs.
Gross margin takeaway
Quarter ended Mar 28, 2026 · FY2026 Q2
Revenue decreased compared to the prior quarter, while gross profit and cost of revenue also declined, resulting in a higher gross margin. Compared to the same quarter last year, revenue, gross profit, and cost of revenue all increased, with gross margin improving.
- The gross margin improved sequentially and year-over-year, driven by a proportionally larger decline in cost of revenue relative to revenue in the quarter-over-quarter comparison, and a proportionally smaller increase in cost of revenue relative to revenue in the year-over-year comparison.
- Compared to the immediately preceding quarter, revenue was lower, gross profit was lower, and cost of revenue was lower, while gross margin was higher. Compared to the same quarter one year earlier, revenue was higher, gross profit was higher, and cost of revenue was higher, while gross margin was higher.
Gross margin snapshot
The selected quarter's reported revenue, gross profit, direct costs, and margin comparisons.
Gross margin
49.3%
Gross profit
$54.8B
Revenue
$111.2B
Cost of revenue
$56.4B
Quarter-over-quarter change
+1.1 pts
Year-over-year change
+2.2 pts
Quarterly gross margin trend
A four-quarter view of the revenue and direct-cost bridge behind gross margin.
| Period | Revenue | Gross profit | Cost of revenue | Gross margin |
|---|---|---|---|---|
| Jun 28, 2025 | $94.0B | $43.7B | $50.3B | 46.5% |
| Sep 27, 2025 | $102.5B | $48.3B | $54.1B | 47.2% |
| Dec 27, 2025 | $143.8B | $69.2B | $74.5B | 48.2% |
| Mar 28, 2026 | $111.2B | $54.8B | $56.4B | 49.3% |
Quarterly comparisons
Compare the selected margin with the preceding quarter and the same fiscal quarter one year earlier.
Previous-quarter change
Dec 27, 2025
+1.1 pts
Year-over-year change
Mar 29, 2025
+2.2 pts
What the margin says
Filing-constrained interpretation of margin direction, comparisons, and what to monitor next.
The gross margin improved sequentially and year-over-year, driven by a proportionally larger decline in cost of revenue relative to revenue in the quarter-over-quarter comparison, and a proportionally smaller increase in cost of revenue relative to revenue in the year-over-year comparison.
Compared to the immediately preceding quarter, revenue was lower, gross profit was lower, and cost of revenue was lower, while gross margin was higher. Compared to the same quarter one year earlier, revenue was higher, gross profit was higher, and cost of revenue was higher, while gross margin was higher.
Monitor the trend in cost of revenue relative to revenue, as its proportional movement is the key factor behind gross margin changes.
Peer context
Latest available gross margins for related public companies.
| Company | Gross margin |
|---|---|
| Apple Inc. (AAPL) | 49.3% |
| Microsoft Corporation (MSFT) | 67.6% |
| Alphabet Inc. (GOOGL) | 62.4% |