Apple forecasts a turbulent business environment for the quarter ending in September, citing a significant escalation in high-end chip manufacturing bottlenecks. Chief Financial Officer Kevin Parekh warned that supply constraints at the advanced chip fabrication level will "notably intensify."

During the June quarter, supply shortages of Apple's self-developed processors already impacted the Mac product line, with iPhones and iPads facing relatively milder effects. The core issue stems from insufficient chip supply, as Apple relies on Taiwan Semiconductor Manufacturing Co. (TSMC) as its primary foundry. However, chips used by Nvidia for artificial intelligence operations continue to consume a substantial portion of TSMC's wafer capacity.

Apple reported total revenue of $109.4 billion for the June quarter, up 16.4% year-over-year, with net profit reaching $29.8 billion, a 27% increase. iPhone revenue surged nearly 22% to $54.3 billion.

The company projects overall revenue growth of 9% to 11% year-over-year for the September quarter, but iPhone revenue growth is expected to slow to around 15% due to supply chain constraints. Following the earnings guidance, Apple's stock fell more than 7% in after-hours trading.

While many tech stocks faced pressure this week amid concerns over heavy AI spending, Apple stood out by maintaining strict control over AI-related capital expenditures. Before the earnings release, Apple's shares had risen 23% year-to-date, outperforming most tech peers.

CEO Tim Cook revealed during the earnings call that he will soon step down as Apple's top leader, with current hardware chief John Ternus set to take over in September. "This will be my last earnings call, and John will handle future ones," Cook said. "The transition is proceeding very smoothly, and I genuinely look forward to John taking the helm and leading Apple into a new era."