Apple is experiencing significant memory chip shortages and rising costs due to high demand driven by generative AI, impacting production of iPhones, Macs, and iPads. Despite reporting its strongest June quarter ever with 22% growth in iPhone sales and 29% in Mac sales, Apple is stockpiling inventory and has raised product prices to manage supply constraints. Outgoing CEO Tim Cook warned that supply chain flexibility is limited and expects these challenges to worsen. The company forecasts slower revenue growth of 9-11% for the next quarter, down from recent 16% growth, causing a 6% drop in Apple stock after hours. The supply issues are industry-wide, affecting other tech giants as well.
Apple Inc. reported strong Q3 results with $109.42 billion revenue and $2.02 EPS, driven by solid iPhone and Mac sales. However, shares dropped after management forecasted Q4 revenue growth of 9%–11% and gross margins of 45.5%–46.5%, both below analy...
Apple briefly reached a $5 trillion market capitalization driven by strong iPhone sales and excitement around its upcoming Siri AI feature, which is limited to newer iPhones and may encourage some upgrades. The company's recent fiscal Q3 2026 results...
Apple announced it has surpassed 1.5 billion subscribers for its services, including Apple Store, AppleCare, and media services. However, its services revenue for the fiscal third quarter fell short of Wall Street expectations, mainly due to a slowdo...
Apple CEO Tim Cook announced his departure after 15 years, leaving the company with record quarterly revenue of $109.42 billion and a 27% profit increase. However, Apple forecasted lower-than-expected revenue growth for the next quarter due to chip s...
Apple reported its strongest June quarter ever with $109.4 billion in revenue, driven by a 22% rise in iPhone sales and record Mac revenue. CEO Tim Cook, who will step down on Sept. 1 after 15 years, highlighted Apple's pragmatic approach to AI, incl...
