Apple Sales Rise Amid Memory Supply Constraints
Apple reported strong third-quarter growth in iPhone and Mac sales, even as a global memory shortage created mounting supply pressures across the technology sector. Quarterly revenue reached $109.4 billion, supported by a 22 percent increase in iPhone sales to $54.25 billion and a 29 percent rise in Mac sales to $10.35 billion.
Company executives cautioned that supply conditions are likely to become more difficult. Chief Financial Officer Kevan Parekh said constraints are expected to increase significantly next quarter, affecting iPhones, Macs, and iPads. Chief Executive Tim Cook also said Apple anticipates paying higher memory costs in the coming months.
The report is Apple’s final quarterly earnings release before Cook steps down on September 1. John Ternus, currently vice president of hardware engineering, is scheduled to succeed him as chief executive.
Apple increased prices for Macs, iPads, and other products in June in response to a RAM shortage that may continue through 2027 and beyond. The MacBook Neo rose from $599 to $699. Apple has not increased iPhone prices, although analysts expect some iPhone 18 models could cost up to $200 more when the lineup launches this fall.
The iPhone 18 release is also expected to accompany a wider rollout of Apple’s personalized Siri AI. The updated assistant is designed to interpret on-screen content, search across applications, and complete tasks such as creating calendar events.
Elsewhere, Apple introduced an Upgrade program offering monthly leases for several devices. Services generated $30.74 billion, with more than 1.5 billion subscriptions reported across Apple’s platforms. Wearables revenue totaled $7.88 billion, while iPad revenue reached $6.2 billion, below expectations.
The results show that demand for Apple’s core products and services remained strong during the quarter, while rising component expenses, constrained supplies, higher device prices, and a planned leadership transition present significant operational changes for the company.