Apple revenue, profits beat expectations on iPhone, Mac sales
iPhone and Mac sales drove the quarter as Apple said supply constraints and higher memory-chip costs will curb near-term growth.
- On Thursday, Chief Executive Tim Cook warned Apple expects "significant" supply constraints to impact iPhone, Mac, and iPad availability in the coming quarter, despite reporting $109.4 billion in quarterly revenue.
- Demand for memory chips in AI data centers is causing a global shortage and skyrocketing prices, which Cook likened to a "hundred-year flood" that forced Apple to reluctantly raise Macs and iPads prices last month.
- IPhone sales jumped 21.7% to $54.25 billion, above estimates of $53.86 billion, while Mac sales surged 28.7% to $10.35 billion, beating estimates of $8.74 billion.
- Apple forecast fourth-quarter revenue growth of 9% to 11%, below analyst expectations of 12%, sending shares down 6% in after-hours trading as investor concerns mounted.
- Incoming Chief Executive Officer John Ternus takes charge September 1 as Cook steps down after 15 years, facing the challenge of adapting Apple to the AI era while European Union negotiations on the redesigned Siri continue.
180 Articles
180 Articles
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Apple's stock fell 7.3% in the pre-market this Friday, after the technology giant warned that supply restrictions will harm growth, leading investors to look beyond the short-term shortage to assess the impact of an expected increase in iPhone prices. The fall puts Apple on the road to losing about $361.6 billion in market value, if losses remain. The company's projection highlighted a broader challenge for the industry, with demand driven by ar…
Strong iPhone demand and services revenue propelled Apple’s Q3 earnings
It was another record-breaking quarter for Apple as strong iPhone demand and revenue from its services were enough to overcome the global memory chip supply constraints that are plaguing the industry. Revenues stood at $109.4 billion - up 16% compared to last year. Net profits came in at $29.8 billion, which is a 27% lift from Q3,2025. Apple had yet another strong quarter of iPhone demand with revenues reaching $54.2 billion for the three-month …
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