Apple reported record quarterly earnings fueled by strong iPhone demand but warned that worsening chip shortages could disrupt production of Macs, iPhones, and iPads.
Apple posted $29B profit (+26%) but warned chip shortages will hit Macs and iPhone; CEO Tim Cook cited demand surge. On-device AI (Siri beta) differentiates vs. cloud competitors; supply delays risk slowing enterprise adoption timelines.
Apple's net profit grew by 26% to $29 billion in June quarter
Jul 31, 2026
12:59 pm
What's the storyApple has reported a record-breaking quarter, with revenue hitting nearly $110 billion for the June quarter, a 16% increase year-on-year.
The company's net profit also grew by 26% to $29 billion, driven largely by strong demand for its iPhone and Mac products.
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