Apple’s iPhone revenue jumps to $57 billion despite chip shortage

Apple’s iPhone revenues jumped by 22% to $57 billion over the past few months, despite supply chain problems that affected the device’s processor. in Interview with ReutersApple CEO Tim Cook said that “demand for the iPhone has been off the charts,” but there is “a little less flexibility right now to get more parts.” Supply constraints may be coming for Mac as well, “given the continued high levels of demand we’re seeing,” Cook added during the earnings call.

Apple generated $111.2 billion in revenue during the second quarter of 2026, its “best March quarter ever,” according to Cook. The latest earnings report comes just over a week after the company announced its CEO Cook retired in September. John Ternos, the company’s head of hardware engineering, will replace Cook as he transitions to executive chairman.

The new devices helped increase Mac revenues to $8.4 billion, while iPad revenues reached $6.91 billion. Apple’s services segment, which includes subscriptions like Apple One, Apple Music, Apple TV and others, rose to another “record” at $30.98 billion.