Apple posts $111.18 billion Q2 revenue with 16.6% YoY growth; Palantir reports 84.7% revenue jump to $1.63 billion on AI deployment surge

Apple's Q2 FY26 revenue reached $111.18 billion, up 16.6% year over year, with iPhone delivering $56.99 billion and Services setting an all-time record at $30.98 billion. Palantir's Q1 FY26 revenue jumped 84.7% to $1.63 billion, with U.S. commercial revenue surging 133% to $595 million.

Apple is returning capital through a $100 billion buyback and 4% dividend hike, backed by a $45.57 billion cash pile and 46.9% gross margin. Palantir is reinvesting into customer acquisition, with U.S. commercial remaining deal value at $4.92 billion (up 112%) and stock-based compensation of $201.6 million in Q1.

Palantir's Rule of 40 score reached 145%, matching only NVIDIA, Micron, and SK hynix. The company closed 206 deals of $1 million or more, with its Artificial Intelligence Platform (AIP) driving growth in commercial accounts. Apple's valuation sits around P/E 37 versus Palantir's P/E 152.