Apple Inc. (AAPL) Earnings Call Transcripts

Apple Inc.'s Latest Earnings Call - Q3 FY2026

In the third quarter of fiscal year 2026, Apple Inc. reported a revenue of $109.4 billion, a 16% increase year-over-year, marking a June quarter record. Earnings per share (EPS) reached $2.02, up 29% year-over-year. Management guided for a revenue growth of 9% to 11% in the upcoming September quarter, citing supply constraints and foreign exchange headwinds as key factors affecting performance. Overall, the strong iPhone and Mac sales drove the results, but the anticipated deceleration in growth may raise concerns among investors.

Reported metrics

Guidance from management

Management expects total company revenue growth of 9% to 11% for the September quarter, impacted by foreign exchange and supply constraints. Gross margin is projected to be between 47% and 48%.

What management said

Yes. Thanks, Tim. Ben, let me jump in here. And the dynamics Tim mentioned, combined with the foreign exchange impact I mentioned earlier sequentially is really what's built into the 9% to 11% guidance we're giving for the September total company revenue year-on-year growth rate. Beyond September, we're not providing any color at this point. You mentioned December, so we're not providing any kind of color or guidanc...

Yes. Let me stress again. This isn't a partner or a supplier issue. This issue is an incredibly strong -- it's a great issue in some ways. It's an incredibly strong iPhone and Mac product cycle that has really yielded a demand beyond our expectation. In Arizona, we do source over 100 million components this year out of Arizona. And so we have -- it is part of our $600 billion commitment to the U.S. and we could not b...

What analysts pressed on

Analysts expressed concerns regarding the anticipated deceleration in growth for the September quarter, particularly how supply constraints and foreign exchange impacts will affect revenue. There were also inquiries about pricing strategies in light of rising memory costs and the potential impact on customer demand.

Main topics on the call

• Record Revenue Growth — Apple achieved a revenue of $109.4 billion, representing a 16% year-over-year increase and a June quarter record. Tim Cook stated, "We were able to achieve this despite supply constraints and sequential foreign exchange ...
• iPhone and Mac Performance — iPhone revenue grew 22% year-over-year to $54.3 billion, while Mac revenue surged 29% to $10.4 billion, both achieving June quarter records. Cook noted, "This is the most powerful and most popular iPhone lineup we've eve...
• Services Revenue Growth — Services revenue reached $30.7 billion, up 12% year-over-year, setting a June quarter record. Despite foreign exchange headwinds, management expressed optimism about the long-term growth of the Services segment.
• Supply Constraints Impact — Management indicated that supply constraints are expected to increase significantly in the September quarter, affecting iPhone, Mac, and iPad. Cook mentioned, "We expect the impact from the supply constraints to increase...

Read the full Apple Inc. transcript (Q3 FY2026) → Summary generated from the call transcript; every figure above is stated by management on the record.

Earnings Call History

EarningsCalls.dev has 29 Apple Inc. earnings call transcripts on record, spanning January 28, 2020 to July 30, 2026. Based on this history, Apple Inc. reports quarterly. The most recent call on file is dated July 30, 2026. The full list is below — each row opens the complete, free-to-read transcript.

Ticker

AAPL

Exchange

NasdaqGS

Country

US

Sector

Information Technology

Industry

Technology Hardware, Storage and Peripherals

Calls on record

29

First call

January 28, 2020

Most recent

July 30, 2026

Reporting cadence

quarterly