Stock Market Today, Nov. 2: Apple Stock Slides Ahead of Earnings, but Its Latest Results Tell a Different Story

Source The Motley Fool

Apple (NASDAQ:AAPL), the technology giant behind the iPhone and its expanding digital services business, closed Monday at $338.32, down 1.83% amid a broader technology sell-off. Following the closing bell, Apple reported better-than-expected quarterly earnings, supported by strong iPhone demand, providing investors with a more encouraging outlook after a difficult trading session.

Trading volume reached 55.4 million shares, approximately 32% above its three-month average of 42.1 million, as investors anticipated the company's earnings announcement.

How the markets moved today

The S&P 500 (SNPINDEX:^GSPC) fell 0.50% to 7,542, and the Nasdaq Composite (NASDAQINDEX:^IXIC) lost 1.07% to 25,164. Among consumer electronics, personal computers, smartphones and digital services peers, Microsoft (NASDAQ:MSFT) closed at $507.12, -2.83%, while Alphabet (NASDAQ:GOOGL) (NASDAQ:GOOG) closed at $278.99, -0.30%.

What this means for investors

Apple's latest earnings offered investors some reassurance following a difficult session for technology stocks. The company reported fiscal fourth-quarter revenue of $114.5 billion, exceeding Wall Street expectations, while earnings of $2.10 per share also topped forecasts. Strong demand for its latest iPhone 18 helped drive the results, with iPhone revenue increasing approximately 17% year over year to $57.6 billion.

However, the report wasn't without concerns. Apple's gross margin declined to 47.9% from 50.1% in the previous quarter, reflecting rising component costs and a smaller benefit from tariff refunds. Sales in China and the iPad business also fell short of expectations, highlighting challenges beyond its core iPhone franchise.

For investors, the results reinforce Apple's ability to generate revenue growth even amid broader economic uncertainty. With technology valuations under scrutiny, the focus now shifts to whether Apple can sustain strong iPhone demand through the holiday season while protecting profitability.

Should you buy stock in Apple right now?

Before you buy stock in Apple, consider this:

The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and Apple wasn’t one of them. The 10 stocks that made the cut could produce monster returns in the coming years.

Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you’d have $334,793!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you’d have $1,257,420!*

Now, it’s worth noting Stock Advisor’s total average return is 874% — a market-crushing outperformance compared to 209% for the S&P 500. Don't miss the latest top 10 list, available with Stock Advisor, and join an investing community built by individual investors for individual investors.

See the 10 stocks »

*Stock Advisor returns as of November 2, 2026.

RJ Fulton has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Alphabet, Apple, and Microsoft. The Motley Fool has a disclosure policy.

Disclaimer: For information purposes only. Past performance is not indicative of future results.
placeholder
Democrats Win Midterms, Driving Gold Up Over $100 Intraday Back Above $4,000On November 4, gold prices (XAUUSD) surged during the Asian trading session. As the Democratic Party won the U.S. midterm elections, the U.S. Dollar Index and U.S. Treasury yields weakene
Author  TradingKey
15 hours ago
On November 4, gold prices (XAUUSD) surged during the Asian trading session. As the Democratic Party won the U.S. midterm elections, the U.S. Dollar Index and U.S. Treasury yields weakene
placeholder
Gold Price Analysis Today | Forex Gold Analysis | XAU/USD Analysis - November 4, 2026Get the latest gold price analysis, forex gold insights, and XAU/USD analysis for November 4, 2026. Read on for the details.
Author  Mitrade
16 hours ago
Get the latest gold price analysis, forex gold insights, and XAU/USD analysis for November 4, 2026. Read on for the details.
placeholder
Brent at $103.60: the peace trade is selling paper, but the physical market just drew 5.3 million barrelsBrent settled at $103.60, its lowest close since October 7 and an 8% weekly drop on US-Iran talks. Yet API crude stocks fell 5.267 million barrels versus a 2.1 million build expected.
Author  Irene Q.
19 hours ago
Brent settled at $103.60, its lowest close since October 7 and an 8% weekly drop on US-Iran talks. Yet API crude stocks fell 5.267 million barrels versus a 2.1 million build expected.
placeholder
AMD's data center nearly doubled — the $554 million free-cash-flow line is the catchAMD Q3 revenue rose 45% to $13.38B, data center jumped 97% to $8.5B, and EPS hit $2.09; Q4 guidance is $17B. The stock rose 3.65% to $483.90, but free cash flow was $554M versus $1.97B expected.
Author  Irene Q.
19 hours ago
AMD Q3 revenue rose 45% to $13.38B, data center jumped 97% to $8.5B, and EPS hit $2.09; Q4 guidance is $17B. The stock rose 3.65% to $483.90, but free cash flow was $554M versus $1.97B expected.
placeholder
Breaking: US Dollar falls below 101.50 as early midterm results point to Democratic gainsUS Dollar Index (DXY) faces some selling pressure near 101.25 during the early Asian session on Wednesday. Traders will closely monitor the US midterm election outcomes later in the day for fresh impetus.
Author  FXStreet
20 hours ago
US Dollar Index (DXY) faces some selling pressure near 101.25 during the early Asian session on Wednesday. Traders will closely monitor the US midterm election outcomes later in the day for fresh impetus.
goTop
quote