Apple shares declined approximately 1% to $341.19 on November 2 ahead of the company’s fiscal fourth-quarter earnings announcement, scheduled after the US market close.

The stock has gained 24% since its late-June low, adding approximately $1 tn in market capitalization. Apple’s valuation has surpassed $5 tn, supported by resilient iPhone demand, services revenue and strong free cash flow.

• Apple shares have gained approximately 27% in 2026, outperforming major technology stocks as investors favor its strong cash flow and relatively low AI capital expenditure.
• Wall Street expects fiscal Q4 revenue of $113.39 bn and EPS of $1.99. The December-quarter outlook, iPhone 18 sales and rising memory costs will be central…