Is Apple Stock a Buy Ahead of Its October 28 Event and November 2 Earnings?

Apple stock enters its busiest stretch of the year near a one-year high. Shares closed at $343.46 on October 16, their highest close in the past 12 months, and at $340.05 on October 20, according to Yahoo Finance data cited by PrimeXBT. Within the next ten days, the company holds a second product event in October, reports fiscal fourth-quarter results on November 2, and ships its first foldable iPhone, which has already sold out into next year.

How Did Apple Perform in Its Latest Quarter?

Apple's most recent reported quarter, the June quarter, was strong. Revenue rose 16% from a year earlier to $109.4 billion, and iPhone sales climbed 22% to $54.3 billion. Earnings per share rose 29% to $2.02, beating the $1.89 consensus and marking the ninth consecutive quarter of profit ahead of forecasts, according to Barchart. Gross margin moved past 50%, compared with 46.5% a year earlier.

Cash generation was equally notable. Operating cash flow for the nine months ended June 27 reached $117 billion, up from $81.8 billion a year earlier, and Apple ended the quarter with $39.5 billion in cash against $11 billion in short-term debt.

What Does Apple Expect for the September Quarter?

For the fiscal fourth quarter, Apple guided revenue growth of 9% to 11% year over year, or about $111.7 billion to $113.7 billion, with gross margin of 47% to 48%. MarketBeat's consensus on October 20 stood at $1.99 in earnings per share on revenue of $113.37 billion. Apple reports after the Nasdaq close on November 2, at 1:30 p.m. Pacific, five days after the Federal Reserve's October meeting concludes.

What Is the October 28 Apple Event?

Apple announced a second event in Los Angeles this month, with the tagline "Pro and tell," and new product launches are expected. Holding two marquee events in a single month is unusual for the company. Apple has not detailed the products in the sources reviewed, so investors should treat any specific product expectations as rumors until the company confirms them.

How Is the iPhone Duo Affecting the Story?

The $1,999 iPhone Duo goes on sale October 23, and Apple described pre-order demand as "nothing short of extraordinary" after delivery dates for new orders slipped to late January. That is a sign of demand, but also of supply constraints that could limit how much the foldable contributes to near-term revenue. For the full details of pricing, specifications, and the pre-order sellout, see PrimeWorldMedia's coverage of the iPhone Duo launch.

What Are the Risks and Concerns?

Not all commentary is positive. TradeStation noted that Apple received at least three negative analyst comments in recent days relating to iPhone 18 demand. The stock's run to a one-year high also raises the bar for the November 2 report, since strong results are largely expected. Technology stocks have also been volatile, with the sector having its biggest weekly drop since April 2025 before a partial rebound.

What Should Investors Watch?

Three items matter most. The first is the Federal Reserve's October 28 decision and its effect on technology valuations. The second is how Apple describes iPhone demand and iPhone Duo supply on its November 2 call. The third is gross margin against the 47% to 48% guide, because a decline from the June quarter's level would show how much new-product costs are weighing. For a comparison with another megacap reporting the same week, see PrimeWorldMedia's analysis of Microsoft stock.

Figures were compiled from Barchart, PrimeXBT, TradeStation and MacRumors coverage. This article is for informational purposes and is not investment advice.