Apple Posts Record June Quarter as iPhone and Mac Sales Surge
Apple reported $109.4 billion in fiscal third-quarter revenue as iPhone sales rose 21.7% and Mac revenue increased 28.7%, while advanced chipmaking capacity remained a significant supply constraint.
Why it matters: Apple's results show strong device demand and on-device AI momentum while exposing the growing effect of semiconductor constraints and tariff policy on hardware economics.
Apple reported its strongest June quarter to date as demand for iPhones and Macs exceeded market expectations despite higher component costs and tightening semiconductor capacity.
Fiscal third-quarter revenue increased 16% to $109.4 billion. Diluted earnings reached $2.02 per share, up 29% from the previous year, and Apple's installed base of active devices reached another record.
iPhone revenue increased 21.7% to $54.25 billion, producing Apple's strongest third-quarter iPhone result. Mac revenue rose 28.7% to $10.35 billion, supported by demand for both entry-level and high-performance systems.
The Mac performance is relevant to Apple's AI strategy. The company is emphasizing on-device processing and tighter integration between hardware, operating systems and its Siri AI rollout rather than matching the data-center spending of other large technology companies.
The quarter also included material one-time support. Apple said tariff refunds contributed $0.11 to earnings per share and approximately two percentage points to its 50.1% gross margin. Services revenue increased to $30.74 billion but missed analyst expectations, while iPad revenue declined 5.9%.
CEO Tim Cook identified limited advanced-chip manufacturing capacity as a major supply constraint, particularly for Apple Silicon used in Mac computers. The next test is whether Apple can sustain device demand as component costs rise and convert its AI product cycle into durable upgrade demand.