Apple’s iPhone revenue jumps to $57 billion despite chip shortages
Apple’s iPhone revenue jumped 22% to $57 billion in recent months, despite supply chain issues affecting the device’s processor. During an interview with ReutersApple CEO Tim Cook said “demand for the iPhone has been off the charts” but added that there is “a little less flexibility in the supply chain right now to get more parts.”
Apple reported $111.2 billion in revenue during the second quarter of 2026, its “best March quarter ever,” according to Cook. This latest earnings report comes just over a week after the company announced the retirement of CEO Cook in September. John Ternus, the company’s head of hardware engineering, will take Cook’s place as he assumes the role of executive chairman.
The new devices helped boost Mac revenue to $8.4 billion, while iPad revenue reached $6.91 billion. Apple’s services segment, which includes subscriptions like Apple One, Apple Music, Apple TV and others, hit another “all-time high” at $30.98 billion.
