Apple posts record revenue, but cautious forecast spooks investors
TL;DR Summary
Apple beat expectations for the June quarter with revenue of $109.42 billion and earnings of $29.79 billion, driven by iPhone and Mac sales, including a quarterly iPhone revenue record of $54.25 billion. But it guided 9-11% revenue growth for the next quarter, below consensus, citing supply constraints and rising memory costs, which sent shares lower in after-hours trading. It also marked Tim Cook’s final earnings report as CEO, with John Ternus set to take over, and potential price increases for iPads/Macs to offset costs.
- Apple shares fall despite record revenue as outlook disappoints Euronews.com
- Tim Cook signed off on his final Apple earnings call with a warning about a ‘hundred year flood’ in memory chip pricing Fortune
- Apple stock price falls: 3 reasons why AAPL shares are down after a record-breaking quarter Fast Company
- Apple’s Profit Is Up 27%, but Expectations for Current Quarter Disappoint The New York Times
- Tim Cook passes the baton in Apple’s Q3 2026 earnings call Ars Technica
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