Key Highlights

  • Apple's fiscal fourth quarter Revenue came to $114.5 billion, 12% above the previous year.
  • Palantir claimed second place with $2.313 billion in sales, a 96% increase, and $1.128 billion of GAAP net income.
  • ON Semiconductor's AI Data Center Business leaped 175% to $180 million within total revenue of $1.722 billion.
  • Fabrinet's sales rose 51% to $1,474.5 million, while Lumentum's climbed 136.5% to $1,262.6 million.
  • Apple's revenue is roughly 16.9 times the sum of the other four companies (calculated).

Which Technology Companies Had the Highest Revenue in Their Most Recent Quarter?

Five technology businesses that issued results on Nov 2, 2026 are sorted by revenue. Reading upward from the smallest, Lumentum (NASDAQ:LITE) posts $1,262.6 million, Fabrinet (NYSE:FN) $1,474.5 million, ON Semiconductor (NASDAQ:ON) $1.722 billion, Palantir (NASDAQ:PLTR) $2.313 billion and Apple (NASDAQ:AAPL) $114.477 billion.

This order reflects sales alone, leaving each business model distinct. Growth stretches from ON Semiconductor's 11% to Lumentum's 136.5%, and Apple's advance is 12%.

Calendars do not match up. Periods diverge: Apple's fiscal fourth quarter is one, Fabrinet and Lumentum report fiscal first quarters of 2027, and calendar third quarters came from Palantir and ON Semiconductor, the latter ending Oct 2, 2026. Their operations also differ widely, covering consumer devices, software, power chips, optical Manufacturing services and optical parts, with Apple far larger than the rest.

1. Apple: Set Against Last Year, How Big Was the $114.5 Billion Quarter?

The fiscal fourth quarter brought Apple $114.5 billion in revenue, a 12% rise versus $102.5 billion. Earnings reached $30.7 billion in net income, or $2.10 diluted per share, and Tariff refunds added $0.05 of that. The iPhone line gained 17% to $57.6 billion, Mac 24% to $10.8 billion, and Services posted a record $31.6 billion, carrying a 76% gross Margin and more than 1.5 billion paid subscriptions.

Revenue from iPad dropped 10%, to $6.2 billion, and the Wearables, Home and Accessories group shrank 8%, to $8.3 billion. Sales in Greater China rose 21% to $17.5 billion, and the full fiscal 2026 year reached $478.8 billion, a company record. For the December quarter, Apple expects revenue up 7% to 10%, and gross margin of 45% to 46%, with higher memory costs as the main drag.

2. Palantir: The Forces Behind a Jump to $2.313 Billion in Revenue

Palantir reported a 96% jump in revenue, plus a 20% sequential gain, and cleared $2 billion for the first time. U.S. commercial sales soared 148% to $984 million, passing U.S. government sales of $953 million for the first time. GAAP Net Income attributable to common stockholders reached $1.128 billion, equal to $0.44 per diluted share.

Leadership credited Demand for an offering it labels Sovereign AI. Palantir finished 212 contracts valued at no less than $1 million apiece, closed total contract value of $2.918 billion, and carried $13.4 billion of total remaining deal value. For 2026 the company lifted revenue guidance into an $8.530 billion to $8.534 billion band, and it expects $2.649 billion to $2.653 billion in the fourth quarter.

3. ON Semiconductor: Assessing a $180 Million AI Data Center Line

ON Semiconductor brought in $1.722 billion, versus $1.551 billion previously, which beat the guidance midpoint by about $22 million. Net income landed at $313.9 million, or $0.79 for each diluted share. The AI data center category, newly disclosed as its own end market, produced $180 million, marking a 175% increase on the year before.

Industrial sales expanded 9% to $467 million, while automotive dipped 1% to $777 million due to tight Supply being redistributed. Non-GAAP gross margin registered at 41.2% and free Cash Flow hit $489 million. The Ferric purchase, priced at $600 million with up to $175 million in earn-outs, came alongside a $500 million boost to the 2030 AI data center revenue target, which now exceeds $3 billion. Fourth quarter revenue should fall between $1.715 billion and $1.815 billion.

4. Fabrinet: The Puzzle of Record Sales Alongside Negative Free Cash Flow

Sales hit a record $1,474.5 million for Fabrinet, a 51% (50.8% calculated) rise over $978.1 million. Data center offerings rose 78% to $777 million, equal to 53% of total sales. Under GAAP, net income came in at $103.5 million ($2.86 diluted), versus $157.4 million ($4.34) on a non-GAAP basis.

Cash generated from operations totaled just $21.3 million, since capital expenditures jumped to $158.7 million, including $77 million to purchase a second Santa Clara campus. Free cash flow therefore came in at negative $137.4 million. For the second quarter, sales are expected between $1.6 billion and $1.65 billion. Fabrinet supplies optical packaging and precision manufacturing to producers of optical communication parts, auto components, medical equipment and industrial lasers. Its repurchase plan gained $103.0 million, lifting total authorization to $637.3 million.

5. Lumentum: Tracing Sales Growth of 136.5% to $1,262.6 Million

Lumentum's fiscal first quarter sales hit $1,262.6 million, a 136.5% increase from $533.8 million and a 25.5% gain on the preceding quarter. Within the business, systems revenue leapt 228.8% to $508.4 million while components grew 98.9%, reaching $754.2 million. Profit under GAAP was $360.3 million, which is $3.54 a diluted share, and the non-GAAP Operating Margin came to 42.3%.

Management reported a second major co-packaged optics award, backed by purchase commitments of more than $5 billion. The second quarter forecast calls for revenue between $1.575 billion and $1.625 billion. Flagged risks include shifting product mix, lower average selling prices and changes in customer orders.

Ranking the Five: Apple's Scale Compared With Faster Growth Elsewhere

Compared with the other four combined ($6,772.8 million, calculated), Apple's sales are about 16.9 times larger, and roughly 49.5 times Palantir's alone (calculated). Inside that group, the gap between Palantir and Lumentum reaches $1,050.8 million (calculated).

On growth, a different order emerges. Using the percentages reported, the four smaller names grew about 73.6% on average (calculated), versus 12% for Apple. Computing margins from the reported numbers gives Palantir 48.8%, Lumentum 28.5%, Apple 26.8%, ON Semiconductor 18.2% and Fabrinet 7.0% (all calculated).

Fiscal calendars and differing net income definitions limit direct comparison. Palantir's profit is measured for common stockholders, Apple's includes tariff refund money, Lumentum's prior period held a large loss tied to debt, and Fabrinet posted negative free cash flow.

What to Watch Next: Apple's Payout, Fabrinet's Thailand Construction and the Ferric Deal Timeline

Apple's $0.27 Dividend will be paid Nov 16, 2026 to those on record Nov 12, 2026. Fabrinet's fiscal second quarter ends Dec 25, 2026, and Building 10 in Thailand is slated for completion in January, with Building 11 work coming afterward.

ON Semiconductor expects to complete the Ferric purchase in the fourth quarter but has not named a day. Palantir pointed to fourth quarter results as its next checkpoint; Lumentum pointed to its second quarter report. Neither supplied a day. Apple's materials similarly leave its next report undated.