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Apple's outgoing CEO, Tim Cook, bade an emotional farewell to analysts and shareholders on Thursday as the company announced a record June quarter. His successor, John Ternus, takes over at the beginning of September with the company seemingly in solid shape.
The results were impressive, though some worrying challenges were confirmed. Apple managed to set a new June quarter record, but acknowledged slowing services growth and an unexpected mishap in forecasting future demand. Mac sales jumped an absolutely astonishing 28.7%, as the MacBook Neo grabbed consumer imagination, and overall the company saw growth everywhere except the iPad.
Apple's fiscal Q3 2026 results saw the company generate $109.4 billion in revenue, up 16% year-over-year for a net quarterly profit of $29.8 billion. Gross margin for the quarter was 50.1%, compared to 46.5% in the year-ago quarter (though two points of this was attributed to tariff returns).
More specifically:
iPhone sales were up 21.7%, an unusually high number for what is traditionally a slower quarter.
Wearables increased 6.5%.
Services revenue increased 12%.
And the iPad declined 5.9%.
The Mac is out the bottle
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After over a month of testing iOS 27, on this week's episode of The MacRumors Show we circle back to the beta and talk through our experiences with Siri AI, Liquid Glass refinements, and more.
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 Back to school deals kicked off this week, with Best Buy's annual sitewide event including some great discounts on Apple products like AirPods Max 2 and MacBook Pro. Below you'll also find a record low price on the AirTag 2 and big savings on Apple Watch Series 11.
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 Sony, Bose, and Sennheiser owners have been able to adjust the audio frequency spectrum of their headphones for years, whereas AirPods owners have had to make do with Apple's default tuning. That's no longer the case in iOS 27, which adds a three-band equalizer to the AirPods settings screen.
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 Softness in mobile gaming and Apple's changes to the App Store business model in some countries impacted the performance of the ?App Store?, Apple CFO Kevan Parekh said during today's earnings call.
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 Apple didn't want to raise its prices but was forced to do so because of exponential increases in memory costs, Apple CEO Tim Cook said today during the company's Q3 2026 earnings call. Apple increased prices for Macs and iPads in June because memory prices have surged.
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 Apple CEO Tim Cook today confirmed that today's call was his last as CEO, with John Ternus set to become Apple's new CEO on September 1. Cook will transition to a new role as executive chairman when Ternus becomes CEO.
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 Apple today announced financial results for its third fiscal quarter of 2026, which corresponds to the second calendar quarter of the year.
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 Apple's AirTag 2 is available for the all-time low price of $89.00 this week, down from $99.00. This sale is on the 4-Pack of the AirTag 2, and it's a match of the record low price first seen during Prime Day.
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 Tim Cook will participate in his final Apple earnings call as the company's CEO today. The call begins at 2 p.m. Pacific Time / 5 p.m. Eastern Time.
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