Apple Q2 Earnings Preview: Is AAPL Stock a Buy, Sell, or Hold?

Apple (AAPL) will release its second-quarter fiscal 2026 earnings on Thursday, April 30, against the backdrop of a leadership transition. The iPhone maker announced that CEO Tim Cook will step down, with John Ternus, currently Apple’s senior vice president of hardware engineering, taking over the role effective Sept. 1. Notably, Ternus has been closely involved in shaping Apple’s core products innovation pipeline, and his appointment points to enhancement in the company’s product strategy.

AAPL stock has remained largely range-bound ahead of the earnings release, reflecting that the market has already priced in margin pressure linked to rising memory costs and supply constraints. While component inflation is expected to weigh on gross margins, this headwind could be offset by resilient iPhone demand, which continues to drive its overall revenues. Strong unit volumes and pricing power in the flagship product category could support top-line growth and earnings in the quarter.