AAPL · 88 quarters on record · reports after the close
Four questions answered from Apple's own 88 reports. Averages carry a 95% range; when that range crosses zero, the honest reading is “no edge detected”, not “a small edge”.
Leans up — 61%
54 up, 34 down across 88 reports. Still 39% of the time it went the other way.
No
Correlation between the two weeks before and the overnight gap is 0.05 — essentially none, and not distinguishable from chance at n = 88. How Apple traded into the print said nothing about which way it gapped.
Nothing above just holding it
Buying at the last close before the report and selling two weeks later averaged +2.6% across 88 reports. But any 11-session hold of Apple, started on any day in the same era, averaged +1.4% — so the report-specific part is +1.2%. The 95% range on the earnings trade is +0.7% to +4.5%, which includes the ordinary-hold figure — buying before a report has paid about what owning Apple at any other time paid. The report adds swing, not return.
Holding through did better by 1.1pp
Buying at the open after the news and selling two weeks later averaged +1.5%, against +2.6% for holding through. The difference is −1.1%, but holding through also exposes you to the 3.8% median overnight swing — which landed against you 39% of the time, worst at −12.5%. The two averages' ranges overlap, so the difference itself is not distinguishable from noise; the difference in risk is the real one.
All 88 windows averaged and stacked on the report. The shaded band is the middle half of outcomes — its width is the point: the average line is a poor description of any single quarter.
Each dot is one quarter: how it traded in the two weeks before (across) against the overnight gap it produced (up). A shapeless cloud means the run-in told you nothing — r = 0.05, not distinguishable from chance.
Up is green, down is red; the arrow and sign carry the direction too.
Two weeks either side of each report, indexed to the last close before the numbers came out. The shaded area is how much of the move the report accounts for. The other 80 quarters are in the table below.
Reported after the close, so the reaction is $333.43 on 30 Jul 2026 → $304.81 at the open on 31 Jul 2026. The first session gave some back.
Reported after the close, so the reaction is $271.35 on 30 Apr 2026 → $278.86 at the open on 1 May 2026. The first session kept going.
Reported after the close, so the reaction is $258.28 on 29 Jan 2026 → $255.17 at the open on 30 Jan 2026. The first session reversed.
Reported after the close, so the reaction is $271.40 on 30 Oct 2025 → $276.99 at the open on 31 Oct 2025. The first session reversed.
Reported after the close, so the reaction is $207.57 on 31 Jul 2025 → $210.87 at the open on 1 Aug 2025. The first session reversed.
Reported after the close, so the reaction is $213.32 on 1 May 2025 → $206.09 at the open on 2 May 2025. The first session kept going.
Reported after the close, so the reaction is $237.59 on 30 Jan 2025 → $247.19 at the open on 31 Jan 2025. The first session reversed.
Reported after the close, so the reaction is $225.91 on 31 Oct 2024 → $220.97 at the open on 1 Nov 2024. The first session gave some back.
Newest first. Quarter links open the filing on SEC EDGAR.
| Quarter | Reported | When | Last close before | Reaction open | Overnight gap | First session | 2w before | 2w after | Then |
|---|---|---|---|---|---|---|---|---|---|
| Q2 2026 | 30 Jul 2026 | after close | $333.43 | $304.81 | ↓ −8.6% | −7.4% | +0.1% | −8.2% | gave some back |
| Q1 2026 | 30 Apr 2026 | after close | $271.35 | $278.86 | ↑ +2.8% | +3.2% | +3.0% | +10.6% | kept going |
| Q4 2025 | 29 Jan 2026 | after close | $258.28 | $255.17 | ↓ −1.2% | +0.5% | −0.6% | −1.0% | reversed |
| Q3 2025 | 30 Oct 2025 | after close | $271.40 | $276.99 | ↑ +2.1% | −0.4% | +9.7% | +0.4% | reversed |
| Q2 2025 | 31 Jul 2025 | after close | $207.57 | $210.87 | ↑ +1.6% | −2.5% | −1.2% | +11.6% | reversed |
| Q1 2025 | 1 May 2025 | after close | $213.32 | $206.09 | ↓ −3.4% | −3.7% | +9.8% | −1.0% | kept going |
| Q4 2024 | 30 Jan 2025 | after close | $237.59 | $247.19 | ↑ +4.0% | −0.7% | −0.1% | +3.0% | reversed |
| Q3 2024 | 31 Oct 2024 | after close | $225.91 | $220.97 | ↓ −2.2% | −1.3% | −2.7% | −0.4% | gave some back |
| Q2 2024 | 1 Aug 2024 | after close | $218.36 | $219.15 | ↑ +0.4% | +0.7% | −2.6% | +3.5% | kept going |
| Q1 2024 | 2 May 2024 | after close | $173.03 | $186.65 | ↑ +7.9% | +6.0% | +3.6% | +9.7% | gave some back |
| Q4 2023 | 1 Feb 2024 | after close | $186.86 | $179.86 | ↓ −3.7% | −0.5% | −0.9% | −2.4% | gave some back |
| Q3 2023 | 2 Nov 2023 | after close | $177.57 | $174.24 | ↓ −1.9% | −0.5% | +1.2% | +6.8% | gave some back |
| Q2 2023 | 3 Aug 2023 | after close | $191.17 | $185.52 | ↓ −3.0% | −4.8% | −1.0% | −8.7% | kept going |
| Q1 2023 | 4 May 2023 | after close | $165.79 | $170.98 | ↑ +3.1% | +4.7% | −0.5% | +5.7% | kept going |
| Q4 2022 | 2 Feb 2023 | after close | $150.82 | $148.03 | ↓ −1.8% | +2.4% | +11.5% | +1.1% | reversed |
| Q3 2022 | 27 Oct 2022 | after close | $144.80 | $148.20 | ↑ +2.3% | +7.6% | +1.3% | +3.4% | kept going |
| Q2 2022 | 28 Jul 2022 | after close | $157.35 | $161.24 | ↑ +2.5% | +3.3% | +6.0% | +9.4% | kept going |
| Q1 2022 | 28 Apr 2022 | after close | $163.64 | $161.84 | ↓ −1.1% | −3.7% | −4.0% | −10.1% | kept going |
| Q4 2021 | 27 Jan 2022 | after close | $159.22 | $165.71 | ↑ +4.1% | +7.0% | −9.3% | +5.9% | kept going |
| Q3 2021 | 28 Oct 2021 | after close | $152.57 | $147.22 | ↓ −3.5% | −1.8% | +6.1% | −1.7% | gave some back |
| Q2 2021 | 27 Jul 2021 | after close | $146.77 | $144.81 | ↓ −1.3% | −1.2% | +0.8% | −0.6% | gave some back |
| Q1 2021 | 28 Apr 2021 | after close | $133.58 | $136.47 | ↑ +2.2% | −0.1% | +1.2% | −6.4% | reversed |
| Q4 2020 | 27 Jan 2021 | after close | $142.06 | $139.52 | ↓ −1.8% | −3.5% | +10.3% | −4.9% | kept going |
| Q3 2020 | 29 Oct 2020 | after close | $115.32 | $111.06 | ↓ −3.7% | −5.6% | −4.5% | +3.4% | kept going |
| Q2 2020 | 30 Jul 2020 | after close | $96.19 | $102.88 | ↑ +7.0% | +10.5% | −0.3% | +19.5% | kept going |
| Q1 2020 | 30 Apr 2020 | after close | $73.45 | $71.56 | ↓ −2.6% | −1.6% | +2.5% | +4.7% | gave some back |
| Q4 2019 | 28 Jan 2020 | after close | $79.42 | $81.11 | ↑ +2.1% | +2.1% | +0.2% | +3.0% | gave some back |
| Q3 2019 | 30 Oct 2019 | after close | $60.82 | $61.81 | ↑ +1.6% | +2.3% | +3.8% | +8.0% | kept going |
| Q2 2019 | 30 Jul 2019 | after close | $52.20 | $54.11 | ↑ +3.7% | +2.0% | +2.1% | −2.9% | gave some back |
| Q1 2019 | 30 Apr 2019 | after close | $50.17 | $52.47 | ↑ +4.6% | +4.9% | +0.7% | −4.9% | kept going |
| Q4 2018 | 29 Jan 2019 | after close | $38.67 | $40.81 | ↑ +5.5% | +6.8% | +3.1% | +10.0% | kept going |
| Q3 2018 | 1 Nov 2018 | after close | $55.56 | $52.39 | ↓ −5.7% | −6.6% | +2.9% | −12.9% | kept going |
| Q2 2018 | 31 Jul 2018 | after close | $47.57 | $49.78 | ↑ +4.6% | +5.9% | −0.6% | +10.5% | kept going |
| Q1 2018 | 1 May 2018 | after close | $42.28 | $43.81 | ↑ +3.6% | +4.4% | −5.1% | +11.3% | kept going |
| Q4 2017 | 1 Feb 2018 | after close | $41.95 | $41.50 | ↓ −1.1% | −4.3% | −6.4% | +2.8% | kept going |
| Q3 2017 | 2 Nov 2017 | after close | $42.03 | $43.50 | ↑ +3.5% | +2.6% | +7.8% | +1.2% | gave some back |
| Q2 2017 | 1 Aug 2017 | after close | $37.51 | $39.82 | ↑ +6.1% | +4.7% | 0.0% | +7.3% | gave some back |
| Q1 2017 | 2 May 2017 | after close | $36.88 | $36.40 | ↓ −1.3% | −0.3% | +4.5% | +1.9% | gave some back |
| Q4 2016 | 31 Jan 2017 | after close | $30.34 | $31.76 | ↑ +4.7% | +6.1% | +1.1% | +11.7% | kept going |
| Q3 2016 | 25 Oct 2016 | after close | $29.56 | $28.58 | ↓ −3.3% | −2.2% | +1.7% | −6.2% | gave some back |
| Q2 2016 | 26 Jul 2016 | after close | $24.17 | $26.07 | ↑ +7.9% | +6.5% | −0.8% | +11.7% | gave some back |
| Q1 2016 | 26 Apr 2016 | after close | $26.09 | $24.00 | ↓ −8.0% | −6.3% | −5.5% | −11.3% | gave some back |
| Q4 2015 | 26 Jan 2016 | after close | $25.00 | $24.01 | ↓ −4.0% | −6.6% | +1.5% | −5.7% | kept going |
| Q3 2015 | 27 Oct 2015 | after close | $28.64 | $29.23 | ↑ +2.1% | +4.1% | +2.5% | +1.4% | kept going |
| Q2 2015 | 21 Jul 2015 | after close | $32.69 | $30.50 | ↓ −6.7% | −4.2% | +4.0% | −11.7% | gave some back |
| Q1 2015 | 27 Apr 2015 | after close | $33.16 | $33.61 | ↑ +1.4% | −1.6% | +4.6% | −5.1% | reversed |
| Q4 2014 | 27 Jan 2015 | after close | $27.29 | $29.41 | ↑ +7.8% | +5.7% | −0.1% | +14.4% | gave some back |
| Q3 2014 | 20 Oct 2014 | after close | $24.94 | $25.76 | ↑ +3.3% | +2.7% | +0.1% | +8.9% | gave some back |
| Q2 2014 | 22 Jul 2014 | after close | $23.68 | $23.86 | ↑ +0.7% | +2.6% | −0.7% | +0.3% | kept going |
| Q1 2014 | 23 Apr 2014 | after close | $18.74 | $20.29 | ↑ +8.3% | +8.2% | +0.3% | +12.1% | gave some back |
| Q4 2013 | 27 Jan 2014 | after close | $19.66 | $18.17 | ↓ −7.6% | −8.0% | +3.3% | −2.6% | kept going |
| Q3 2013 | 28 Oct 2013 | after close | $18.92 | $19.15 | ↑ +1.2% | −2.5% | +6.8% | −1.9% | reversed |
| Q2 2013 | 23 Jul 2013 | after close | $14.96 | $15.68 | ↑ +4.8% | +5.1% | −0.8% | +11.0% | kept going |
| Q1 2013 | 23 Apr 2013 | after close | $14.51 | $14.06 | ↓ −3.1% | −0.2% | −4.9% | +14.2% | gave some back |
| Q4 2012 | 23 Jan 2013 | after close | $18.36 | $16.43 | ↓ −10.5% | −12.4% | −2.2% | −8.9% | kept going |
| Q3 2012 | 25 Oct 2012 | after close | $21.77 | $21.77 | ↓ 0.0% | −0.9% | −3.0% | −10.9% | flat |
| Q2 2012 | 24 Jul 2012 | after close | $21.46 | $20.52 | ↓ −4.4% | −4.3% | −1.2% | +3.2% | gave some back |
| Q1 2012 | 24 Apr 2012 | after close | $20.01 | $21.99 | ↑ +9.9% | +8.9% | −10.8% | +1.6% | gave some back |
| Q4 2011 | 24 Jan 2012 | after close | $15.02 | $16.23 | ↑ +8.1% | +6.2% | −0.3% | +13.4% | gave some back |
| Q3 2011 | 18 Oct 2011 | after close | $15.08 | $14.33 | ↓ −4.9% | −5.6% | +13.3% | −5.9% | kept going |
| Q2 2011 | 19 Jul 2011 | after close | $13.46 | $14.15 | ↑ +5.1% | +2.7% | +7.8% | +4.2% | gave some back |
| Q1 2011 | 20 Apr 2011 | after close | $12.23 | $12.68 | ↑ +3.7% | +2.4% | +1.3% | +1.2% | gave some back |
| Q4 2010 | 18 Jan 2011 | after close | $12.17 | $12.44 | ↑ +2.3% | −0.5% | +3.4% | +1.1% | reversed |
| Q3 2010 | 18 Oct 2010 | after close | $11.36 | $10.84 | ↓ −4.6% | −2.7% | +14.1% | −2.7% | gave some back |
| Q2 2010 | 20 Jul 2010 | after close | $9.00 | $9.47 | ↑ +5.2% | +0.9% | +1.3% | +4.4% | gave some back |
| Q1 2010 | 20 Apr 2010 | after close | $8.74 | $9.24 | ↑ +5.8% | +6.0% | +2.1% | +4.7% | kept going |
| Q4 2009 | 25 Jan 2010 | after close | $7.25 | $7.36 | ↑ +1.4% | +1.4% | −4.2% | −3.4% | kept going |
| Q3 2009 | 19 Oct 2009 | after close | $6.78 | $7.16 | ↑ +5.6% | +4.7% | +2.1% | −0.6% | gave some back |
| Q2 2009 | 21 Jul 2009 | after close | $5.41 | $5.64 | ↑ +4.1% | +3.5% | +11.9% | +9.0% | gave some back |
| Q1 2009 | 22 Apr 2009 | after close | $4.34 | $4.52 | ↑ +4.2% | +3.2% | +5.7% | +6.2% | gave some back |
| Q4 2008 | 21 Jan 2009 | after close | $2.96 | $3.14 | ↑ +6.3% | +6.7% | −11.0% | +16.5% | kept going |
| Q3 2008 | 21 Oct 2008 | after close | $3.27 | $3.48 | ↑ +6.4% | +5.9% | +2.6% | +12.9% | gave some back |
| Q2 2008 | 21 Jul 2008 | after close | $5.94 | $5.32 | ↓ −10.4% | −2.6% | −5.1% | −3.4% | gave some back |
| Q1 2008 | 23 Apr 2008 | after close | $5.82 | $5.91 | ↑ +1.5% | +3.7% | +7.6% | +13.6% | kept going |
| Q4 2007 | 22 Jan 2008 | after close | $5.56 | $4.86 | ↓ −12.5% | −10.6% | −12.4% | −21.6% | gave some back |
| Q3 2007 | 22 Oct 2007 | after close | $6.23 | $6.73 | ↑ +8.1% | +6.8% | +3.8% | +10.0% | gave some back |
| Q2 2007 | 25 Jul 2007 | after close | $4.90 | $5.21 | ↑ +6.3% | +6.4% | +3.7% | −7.9% | kept going |
| Q1 2007 | 25 Apr 2007 | after close | $3.41 | $3.63 | ↑ +6.5% | +3.7% | +3.0% | +12.6% | gave some back |
| Q4 2006 | 17 Jan 2007 | after close | $3.39 | $3.29 | ↓ −3.0% | −6.2% | +11.9% | −10.8% | kept going |
| Q3 2006 | 18 Oct 2006 | after close | $2.66 | $2.83 | ↑ +6.3% | +6.0% | −1.1% | +6.0% | gave some back |
| Q2 2006 | 11 Aug 2006 | after close | $2.27 | $2.29 | ↑ +0.7% | +0.5% | −3.0% | +5.2% | gave some back |
| Q1 2006 | 19 Apr 2006 | after close | $2.35 | $2.48 | ↑ +5.9% | +3.0% | +7.3% | +8.3% | gave some back |
| Q4 2005 | 18 Jan 2006 | after close | $2.95 | $2.90 | ↓ −1.6% | −4.2% | +10.3% | −12.6% | kept going |
| Q3 2005 | 11 Oct 2005 | after close | $1.84 | $1.74 | ↓ −5.6% | −4.6% | −3.5% | +10.5% | gave some back |
| Q2 2005 | 13 Jul 2005 | after close | $1.37 | $1.46 | ↑ +6.4% | +6.2% | +2.8% | +14.2% | gave some back |
| Q1 2005 | 13 Apr 2005 | after close | $1.47 | $1.39 | ↓ −5.3% | −9.2% | −4.1% | −13.4% | kept going |
| Q4 2004 | 11 Jan 2005 | after close | $1.15 | $1.17 | ↑ +1.1% | +1.4% | +0.6% | +12.5% | kept going |
| Q3 2004 | 13 Oct 2004 | after close | $0.71 | $0.77 | ↑ +8.1% | +13.2% | +2.8% | +31.3% | kept going |