Apple Net Worth 2026: Market Cap, Revenue & Profit

Ask 10 people what Apple is worth and you’ll likely hear 10 different numbers. Some will cite the stock market valuation. Others will point you toward Apple’s balance sheet. A few may pull up the latest iPhone sales figures and read them off to you. Each of them is partly right. There’s more than one way to define Apple net worth in 2026, and those measures vary wildly: by one calculation, the company is worth around $5 trillion. By another, it’s worth closer to $107 billion.

That gap isn’t just accounting trivia. It says a lot about brand power, steady services income and how much investors trust a company that rang up more than $416 billion in sales last fiscal year. The timing matters too. Tim Cook handed the CEO title to John Ternus on September 1, 2026, and Apple’s stock hit an all-time closing high in late October.

This guide looks at Apple’s market capitalization, shareholders’ equity, revenue and profit by segment, its latest quarterly results, the milestones in its valuation history and the factors that could move its net worth from here.

Apple Net Worth in 2026 at a Glance

Market capitalization changes every trading day. Figures above are based on Apple’s SEC filings and earnings releases, plus closing-price data reported on October 29, 2026.

What Does “Apple Net Worth” Actually Mean?

For you or me, net worth is easy to work out: add up what you own and take away what you owe. Companies are messier, and the phrase usually points to one of two very different numbers.

The first is market capitalization. Calculated by multiplying the current stock price by the total number of shares outstanding, it is how much investors are collectively willing to pay for the company today. A headline saying Apple is “worth $5 trillion” is quoting this figure. Market cap fluctuates with each trading day and can move by hundreds of billions of dollars in a matter of weeks.

The second is shareholders’ equity, also known as book value, which is how accountants define net worth: total assets minus total liabilities. As of June 27, 2026, Apple had total assets of $383.3 billion and total liabilities of $275.7 billion. Subtract the latter from the former and you end up with shareholders’ equity of $107.5 billion, up from $73.7 billion at the end of fiscal 2025.

So why is Apple’s market value nearly 50 times its book value? One reason is that Apple aggressively buys back its own shares, which reduces equity on paper. More importantly, a balance sheet doesn’t account for the value of the Apple brand, customer loyalty or the earning power of more than a billion active Apple devices. Investors price those in. Accountants, for the most part, do not.

Apple also has a massive pile of cash. At the end of June 2026, cash, cash equivalents and marketable securities totaled $146.5 billion, a cushion few companies on Earth can match.

Apple Revenue and Profit by Segment (FY2025)

Apple’s fiscal year runs through late September. Fiscal 2025, which ended September 27, 2025, was a record year. Revenue of $416.2 billion was up 6.4% from $391.0 billion in fiscal 2024. Net income of $112.0 billion was up 19.5%, and diluted earnings per share came to $7.46. Gross margin totaled $195.2 billion, or approximately 46.9% of sales.

Here is how the revenue broke down by product category:

The iPhone accounts for slightly more than half of Apple’s total revenue. However, investors are most focused on Services, which include the App Store, iCloud, Apple Music, Apple TV, AppleCare, Apple Pay and licensing agreements. The category grew 13.5% to more than $100 billion for the first time and now accounts for around 26% of sales. Services carries much better profit margins than the hardware business, which is a big reason Apple’s profit surged while revenue climbed at a much slower rate.

Sales in the Americas totaled $178.4 billion, while Europe accounted for $111.0 billion. Revenue from Greater China decreased to $64.4 billion from $67.0 billion the year before. Sales in Japan totaled $28.7 billion, and the rest of Asia Pacific contributed $33.7 billion.

Apple’s Latest Quarterly Results (Q3 FY2026)

Apple will report its fiscal fourth-quarter results for the September 2026 quarter on November 2, 2026. Until then, its most recent reported quarter is the fiscal third quarter, which ended June 27, 2026.

Revenue increased 16% year over year to $109.4 billion, which Apple called its strongest June quarter ever. Net income was $29.8 billion, while diluted earnings per share grew 29% to $2.02. Apple said the EPS figure included $0.11 from tariff refunds. Gross margin was 50.1%, which also included about two percentage points from those refunds.

• iPhone: $54.3 billion, up about 22% from $44.6 billion
• Services: $30.7 billion, up about 12% from $27.4 billion
• Mac: $10.4 billion, up about 29% from $8.0 billion
• Wearables, Home and Accessories: $7.9 billion, up about 6%
• iPad: $6.2 billion, down about 6% from $6.6 billion

Greater China returned to growth, with sales rising about 22% to $18.8 billion. Europe also jumped about 22%, to $29.4 billion. CFO Kevan Parekh said the company’s installed base of active devices reached an all-time high across all major product categories. Apple also declared a quarterly dividend of $0.27 per share.

Through the first nine months of fiscal 2026, Apple reported revenue of $364.4 billion, up about 16% from $313.7 billion in the prior-year period. Net income was $101.5 billion. That stretch included a record December quarter, when revenue reached $143.8 billion and profit hit $42.1 billion.

For the September quarter, Apple guided in July for revenue growth of 9% to 11%. Analyst consensus ahead of the November 2 report sat at roughly $113.4 billion in revenue, compared with $102.5 billion a year earlier.

Apple Net Worth History: Market Cap Milestones

Apple’s climb in market value has set records several times. The main milestones:

• August 2018: Apple became the first publicly traded US company to be valued at $1 trillion.
• August 2020: It passed $2 trillion, again the first US company to do so.
• January 3, 2022: Apple became the first company to touch a $3 trillion market value during trading.
• October 2025: It crossed $4 trillion, only the third company to reach that level after Nvidia and Microsoft.
• July 28, 2026: Apple briefly touched $5 trillion during trading, becoming the second company to do so after Nvidia, though it closed just below the mark.
• October 14, 2026: Apple closed above $5 trillion for the first time, finishing at $342.96 a share for a market cap of about $5.01 trillion.

The shares kept climbing from there, setting another record close of $348.91 on October 29, 2026. To put it another way, Apple has gained about $1 trillion in market value in roughly a year.

Key Drivers: What Could Move Apple’s Net Worth Next

The iPhone cycle and the iPhone Duo

Apple’s first foldable iPhone is called the iPhone Duo. It opened for preorders on October 16, 2026 and went on sale on October 23 at a starting price of $1,999. Delivery dates quickly slipped to January, a sign of strong early demand. Since it launched after the September quarter ended, its impact will show up in the December quarter rather than in the November 2 report.

Memory costs and margins

Memory chip prices are climbing, and that is the main pressure on profitability. On the July earnings call, Tim Cook described the situation as a “100-year flood” in memory pricing. Apple forecast September-quarter gross margin of 47% to 48%, including about one point from tariff refunds.

Artificial intelligence

Apple has charted a different course from Alphabet, Amazon and Microsoft by steering clear of the enormous data-center spending those companies have committed to. Instead, in January 2026 Apple confirmed a multi-year arrangement to use Google’s Gemini models to power a revamped Siri and future Apple Intelligence features. Investors will be looking for clues on whether that lighter-touch strategy can keep Apple competitive without eroding margins.

Services growth and regulation

Services is Apple’s fastest-growing major business. It is also the one most at risk from regulators. App Store rules and payment fees are under scrutiny in the US, Europe and other markets, and forced changes to those fees could hit one of Apple’s most lucrative income sources.

China

After slipping in fiscal 2025, Greater China grew about 22% in the June 2026 quarter. Whether that recovery can continue will be critical for iPhone sales volumes.

Leadership and Ownership

Apple announced in April 2026 that Tim Cook would step down as CEO after almost 15 years in the position. John Ternus, who joined Apple’s product design team in 2001 and became senior vice president of hardware engineering in 2021, became CEO on September 1, 2026 and joined the board of directors the same day. Cook, who has been with Apple since 1998 and had been CEO since August 2011, moved to the role of executive chairman. Arthur Levinson, Apple’s long-serving non-executive chairman, became lead independent director.

Ternus will hold his first earnings call as CEO on November 2, and investors will be tuning in to hear his priorities on hardware, artificial intelligence and returning capital to shareholders.

Apple is a widely held public company with no controlling shareholder. Its shares trade on the Nasdaq under the ticker AAPL, and its largest investors are big institutional fund managers. Full details of shareholdings are disclosed in Apple’s annual proxy statement and SEC filings, available on the Apple investor relations site.

Curious how other giants compare? See our breakdowns of Amazon’s net worth, Saudi Aramco’s net worth and Flipkart’s net worth.

FAQs

What is Apple’s net worth in 2026?

By market capitalization, Apple is worth about $5.1 trillion, based on its record closing price of $348.91 on October 29, 2026. By book value, its shareholders’ equity was $107.5 billion on June 27, 2026.

Is Apple the most valuable company in the world?

Not as of late October 2026. Nvidia was the first company to reach a $5 trillion market cap and remained ahead of Apple, which ranked second. The order can change quickly as share prices move.

How much revenue does Apple make a year?

Apple reported revenue of $416.2 billion for fiscal 2025, which ended September 27, 2025, with net income of $112.0 billion. In the first nine months of fiscal 2026, revenue reached $364.4 billion.

Who is the CEO of Apple now?

John Ternus has been Apple’s CEO since September 1, 2026. Tim Cook, who led the company from 2011, is now executive chairman.

Where does most of Apple’s money come from?

The iPhone generated $209.6 billion in fiscal 2025, just over half of total revenue. Services was second with $109.2 billion.

Conclusion

How rich is Apple? It depends on how you measure it. On the stock market, Apple is worth about $5 trillion, which makes it one of only two companies ever to reach that valuation. On its own balance sheet, it holds $107.5 billion in shareholders’ equity. Between those two numbers lies everything investors believe about Apple’s future: a loyal customer base, a fast-growing services business and a lineup that now includes a foldable iPhone.

The next test arrives on November 2, 2026, when Apple reports its fiscal fourth-quarter and full-year 2026 results under a new CEO. For the official numbers, Apple’s SEC filings remain the most reliable source.