Apple Inc. released its fiscal third-quarter results for the 2026 financial year, with revenue and profit exceeding market expectations on the back of strong iPhone sales. However, the company's guidance for the upcoming quarter was weaker than anticipated due to ongoing global supply chain constraints, triggering concerns among investors. Following the earnings release, Apple's shares fell over 6% in after-hours trading.

Financial data showed that Apple posted a net profit of $29.79 billion in the third quarter, or $2.02 per share, a significant increase from $23.43 billion (or $1.57 per share) in the same period last year. Total revenue for the quarter reached $109.42 billion, surpassing the market consensus of $108.65 billion. This marks the third consecutive quarter in which Apple has achieved revenue growth exceeding 15%.

Among the specific business segments, the iPhone division performed particularly well, generating $54.25 billion in revenue, up 22% year-over-year and above the market's forecast of $53.86 billion. Revenue from the Mac and wearables segments, at $10.35 billion and $7.88 billion respectively, also exceeded expectations. However, iPad revenue came in at $6.19 billion, and services revenue totaled $30.74 billion, both falling short of market estimates. Gross margin for the quarter stood at 50.1%, while the company's cash reserves at the end of the period reached $146.52 billion.

CEO Tim Cook noted that the ongoing global shortage of memory chips and fierce competition for chip manufacturing capacity have forced the company to raise prices on Mac and iPad products. Market analysts broadly expect that continued supply chain pressure could lead to price increases for iPhones later this year.

Additionally, Apple is accelerating its push into the artificial intelligence space. In September, the company is expected to launch a revamped Siri assistant, rebuilt using Google's technology, alongside the release of new iPhone hardware. This move is seen as a key effort by Apple to address market concerns about its lagging position in AI technology.

Notably, this earnings conference call was the final one under Tim Cook's tenure as CEO. John Ternus, the current head of hardware engineering who has been with Apple for 25 years, will assume the role of CEO.