Apple Revenue Surges 11.7% to $114.5B on AI Features

Key Takeaways

• <ul><li>Apple Q3 revenue hit $114.5B, up 11.7% YoY, beating estimates despite margin pressure from memory costs</li><li>Alphabet Cloud grew over 100% YoY on TPU sales, but EPS missed by nearly 30%</li><li>Waystar AI bookings made up 43% of Q3 revenue, though Q4 guidance spooked investors</li><li>EverQuote's home insurance vertical grew 70% YoY and targets $1B revenue in 1–2 years</li><li>Goldman Sachs restricted Claude Code and GitHub use to engineers over skill concerns</li><li>ChatGPT now has 1.2B weekly users and claims 20% of Google's search volume</li><li>OpenAI and Anthropic set up election war rooms to combat AI-driven disinformation</li><li>Dan Ives recommends Nvidia, Microsoft, Palantir, CrowdStrike, Apple, and Tesla post-selloff</li><li>Big Tech AI spending may slow in 2028 due to cash flow and credit rating pressures</li><li>Barnsley care workers to receive AI training through £800K UK government fund</li></ul>

Waystar Q3 2026 results show AI growth despite stock drop

Waystar reported Q3 2026 revenue of $326 million, up 21% year over year. Subscription revenue grew 34% to $181 million and now makes up 56% of total revenue. AI-powered solutions accounted for 43% of Q3 bookings. Shares fell 7.4% after hours because investors focused on softer Q4 growth expectations. CEO Matt Hawkins said the company is moving from AI recommendations to AI agents that complete work for clients.

EverQuote Q3 beats estimates as home insurance and AI grow

EverQuote reported Q3 2026 revenue of $218.1 million, up 25.4% year over year and above analyst estimates of $202.6 million. Its home insurance vertical grew 70% year over year. The company launched Luva, an AI-native insurance shopping platform, and expanded SmartCampaigns, an AI-driven bidding solution. CEO Jayme Mendal said carrier demand and AI investments drove results. The company aims to reach $1 billion in revenue within one to two years.

Apple Q3 beats revenue expectations despite margin concerns

Apple reported Q3 2026 revenue of $114.5 billion, up 11.7% year over year and above estimates of $113.6 billion. Strong demand for iPhone Duo, iPhone 18 Pro, and Mac products drove growth. New AI-powered features including Siri AI contributed to results. Services revenue reached an all-time high. However, rising memory costs and supply constraints are expected to pressure gross margins to 45% to 46% next quarter. Market capitalization reached $4.94 trillion.

Everforth Q3 grows on AI and federal contracts

Everforth reported Q3 2026 revenue of $1.03 billion, up 2% year over year and slightly above analyst estimates. Adjusted EPS of $1.11 beat estimates by 6.6%. CEO Theodore Hanson said AI, IT modernization, and cloud transformation drove demand. Federal cybersecurity and national security contracts boosted growth, with federal backlog reaching 2.5 times trailing 12-month revenue. Security and risk bookings rose over 40% year to date. Q4 revenue guidance of $980 million came in below estimates.

Alphabet Q3 revenue rises on AI but profit misses

Alphabet reported Q3 2026 revenue of $127.6 billion, up 24.7% year over year and in line with estimates. However, non-GAAP EPS of $2.12 missed analyst estimates of $3.01 by 29.6%. Google Cloud achieved over 100% year-over-year revenue growth driven by TPU system sales. The Gemini 4 series of models boosted AI usage across products. Nearly 90% of Fortune 100 companies used Gemini Enterprise. CFO Anat Ashkenazi said infrastructure spending will continue to weigh on profits.

Goldman Sachs limits AI coding tools to engineers only

Goldman Sachs stopped most bankers and traders from using AI coding tools like Anthropic's Claude Code and Microsoft's GitHub. The bank changed its rules in October after reviewing productivity and risk. Only technical engineers and a group called strats can still use these tools. Earlier in 2026, the bank's CIO Marco Argenti supported a method called vibe coding. Leadership worries that heavy AI use may weaken the skills of future bankers.

Goldman Sachs bans traders from using AI coding tools

Goldman Sachs banned its traders and other employees from using advanced AI coding tools. The bank cited concerns about productivity and risk. The bank worries that AI tools may cause employees to lose important skills. This could also lower the quality of trading and banking services. The move is part of a larger effort to keep human roles important in the bank.

Dan Ives shares 6 AI stock picks after tech sell-off

Analyst Dan Ives says investors should stay calm after a recent tech stock selloff. He shared six AI stock picks across different areas. The picks include Nvidia, Microsoft, Palantir, CrowdStrike, Apple, and Tesla. Ives said these companies have strong and growing demand. He believes Wall Street has added $866 billion to its 2027 hyperscaler capital spending estimates.

AI image of Imran Khan spreads in Pakistan

An AI-created image of Imran Khan sitting in a jail cell spread on social media in Pakistan. The image appeared as emergency rule was imposed in his stronghold of Khyber Pakhtunkhwa. The picture differs from official photos of Khan's real cell at Adiala Jail. A detection tool found an invisible SynthID watermark showing it was AI-generated. Khan has been in jail since 2023 on corruption charges he denies.

Barnsley care workers to get AI training

Four training projects in Barnsley will share over £800,000 to teach AI skills. The money comes from the AI Upskilling Challenge Fund. Training will reach care workers, builders, small businesses, and women returning to work. Barnsley College will run mobile units for hospital and social care staff. The pilots are part of the Tech Town initiative launched in February, aiming to become a national blueprint.

SBA expects spectrum AI and 6G to extend wireless investment

SBA Communications says spectrum deployments, AI, and 6G will keep driving wireless infrastructure investment into the next decade. CEO Brendan Cavanagh said carriers are upgrading leases with 5G mid-band spectrum like C-band and massive MIMO. U.S. mobile data grew 20% in 2025 and demand is expected to quadruple by 2032. The upper C-band auction starts in April 2027 and will add 160 MHz of spectrum. SBA also sees new opportunities with satellite and edge computing providers.

OpenAI and Anthropic set up war rooms against election disinfo

OpenAI and Anthropic have created dedicated operations centers to stop AI tools from being used to disrupt the midterm elections. OpenAI has over a dozen people working around the clock in San Francisco to monitor threats like deep fakes and cyberattacks. Anthropic has assembled analyst teams in San Francisco, New York, and Washington for its own war room. Google and Meta have also promised efforts to prevent misuse of their AI tools. The companies face criticism for not doing enough to limit malicious AI content.

Big Tech AI spending expected to slow in 2028

Major U.S. cloud computing companies are expected to keep increasing AI infrastructure spending through 2027. After that, spending may slow in 2028 due to mounting cash flow pressures and concerns over credit ratings. The shift could mark a turning point in how much these companies invest in AI technology.

ChatGPT claims 20% of Google search volume

ChatGPT says it has reached 20% of Google's search volume based on search-like queries. Product lead Adam Fry said the chatbot now has 1.2 billion weekly active users, adding about 200 million in two months. The models generate about 1.5 billion images per week and 250 million people use ChatGPT Voice. Fry described search-like queries as anything users would traditionally search for but now ask ChatGPT instead.

Axion 1.0 open agent model uses simple training recipe

Axion 1.0 is a fully open agent foundation model with strong agentic capabilities and a simple training recipe. It is trained in three stages: two supervised fine-tuning stages followed by reinforcement learning. The model performs well on agentic benchmarks and competes with leading commercial models. The team released the complete recipe including data construction, prompts, and training code. This allows anyone to reproduce and extend the development process.

Sources

• Waystar Q3 2026 slides: AI drives growth despite stock decline
• EVER Q3 deep dive: AI-driven growth and new product launches expand addressable market
• AAPL Q3 deep dive: AI, new products, and memory costs shape quarterly outlook
• EFOR Q3 deep dive: AI-led growth and service expansion shape outlook
• GOOGL Q3 deep dive: AI investment drives revenue growth but profit falls short of expectations
• Goldman Sachs Restricts AI Coding Tools for Traders and Bankers, Limits Access to Engineers
• Goldman bans traders and bankers from using AI coding tools
• Tech Selloff Doesn’t Spook Dan Ives for Halloween: Here Are His 6 AI Stock Picks
• AI image of Imran Khan spreads as emergency rule imposed in ex-PM's stronghold
• Barnsley care workers and builders to get £800k of AI training
• SBA sees spectrum, AI, and 6G extending wireless investment cycle
• OpenAI and Anthropic Set Up ‘War Rooms’ to Fight Disinfo About Midterm Elections
• AI spending by Big Tech to slow in 2028 as cash flow pressures mount
• ChatGPT Claims to Have Achieved 20% of Google's Search Volume
• Axion 1.0: Open Agent Foundation Models, Simplified