Apple’s (AAPL) third quarter earnings are on deck Thursday, setting up a potential reprieve from the week’s chip and AI stock sell-off.
Shares of the iPhone maker have benefited from their general lack of exposure to the AI trade, with investors flocking to the stock as a safety play and briefly sending the company’s market capitalization to around the $5 trillion mark on Tuesday
Apple stock is up some 24% year to date, easily outpacing the rest of the “Magnificent Seven” stocks. Goog (GOOG, GOOGL) is the second-best performer of the lot in the period, climbing roughly 7%. For the third quarter, Apple is expected to report earnings per share (EPS) of $1.89 on revenue of $108.8 billion.
That would mark a jump from the EPS of $1.57 and $94 billion in revenue the company saw in the same period last year. Apple’s iPhone revenue is projected to hit $53.5 billion, a 20% increase from the $44.5 billion the company brought in in Q3 2025. Services, Apple’s second-largest business, is anticipated to see revenue of $31.3 billion, up 14%.