# Apple Stock Falls After New CEO's Earnings Call

> Apple's stock drops 3% as new CEO John Ternus delivers first earnings call.
- Title: Apple Stock Falls After New CEO's Earnings Call · SiliconANGLE
- Summary: Apple's stock drops 3% as new CEO John Ternus delivers first earnings call. Apple's stock fell 3% after new CEO John Ternus reported fourth-quarter earnings…
- Keywords: apple, john ternus, earnings call, stock, iphone sales, revenue, guidance, services revenue, mac sales, ipad sales, technology, Falls
- Source: SiliconANGLE — https://siliconangle.com/2026/11/02/apples-stock-drops-as-new-ceo-john-ternus-delivers-his-first-earnings-call
- Author: Mike Wheatley
- Published: 2026-11-02T23:58:33+00:00
- Read time: 1 min
- Topics: apple, john ternus, earnings call, stock, iphone sales, revenue, guidance, services revenue, mac sales, ipad sales, ai, technology
## Apple Reports Fourth-Quarter Earnings
Apple's stock dropped 3% after new CEO John Ternus delivered first earnings call.
## Earnings Beat Expectations
Apple reported fourth-quarter earnings per share of $2.10, exceeding Wall Street's target of $1.99.
## Revenue Growth
Revenue rose 12% to $114.48 billion, surpassing the $113.39 billion analyst forecast.
## Net Income
Net income reached $30.71 billion, up from $27.46 billion one year earlier.
## iPhone Sales Missed
iPhone sales fell short of expectations despite higher product prices and strong revenue.
## Services Revenue Slow
Services revenue grew less than 10% at $31.57 billion, its slowest rate since September 2022.
## iPad Sales Decline
iPad sales dropped over 10% to $6.3 billion, trailing the $6.7 billion forecast.
## Mac Sales Strong
Mac sales reached $10.79 billion, up 24% from the previous year.
## AI Strategy Concerns
Apple's AI chatbot Siri was criticized as stale, lagging behind competitors like Dots and Muse.
## Guidance Weak
Apple forecasted 7%-10% revenue growth for the next quarter, below Wall Street's 11.4% target.
## CEO's Response
John Ternus said Apple has 'lots of opportunities' for monetization through hardware upgrades.

> One example is the hardware side, right? It offers a compelling reason for upgrading or switching.
## Market Reaction
Apple's stock fell 3% on the report but remains up 24% year-to-date compared to S&P 500's 10% gain.
## Key takeaway

Apple's stock fell 3% after new CEO John Ternus reported fourth-quarter earnings that beat revenue forecasts but missed iPhone sales targets and offered weak guidance.