Apple announced iOS 27, macOS 27 Golden Gate, iPadOS 27, watchOS 27, visionOS 27 and tvOS 27 during Q3, and introduced Siri AI. R&D expense rose 32% year over year to $11.7 billion, primarily reflecting higher infrastructure investment—including artificial intelligence—and headcount-related costs.
Q3 product and service performance was led by iPhone revenue of $54.3 billion, up 22% year over year, primarily from higher Pro-model sales; Mac revenue rose 29% to $10.4 billion, and Services rose 12% to $30.7 billion, driven mainly by advertising and cloud services. iPad revenue declined 6% to $6.2 billion, primarily due to lower iPad mini and iPad Air sales.
Apple reported ongoing supply constraints and rising costs for advanced semiconductors, NAND storage and DRAM, and expects these pressures to intensify. Manufacturing purchase obligations totaled $57.0 billion at quarter-end, including $56.2 billion payable within 12 months; tariffs and tariff-related measures remain an operational and margin risk, although tariff refunds received reduced product cost of sales.
Apple continued changing App Store, iOS, iPadOS and Safari practices to address EU Digital Markets Act requirements and maintained changes to U.S. App Store developer communications and external purchasing links. The European Commission’s DMA investigations remain active, while the U.S. Supreme Court granted Apple’s petition on June 30 to review the applicable legal standard in the Epic Games contempt dispute; further business-practice changes remain possible.
(Filed on May 1, 2026)
+16.6%
49.3%
$45.6B
Apple announced or updated iPad Air, iPhone 17e, MacBook Pro, MacBook Air, MacBook Neo and AirPods Max 2 during Q2 2026, expanding its current hardware lineup.
Q2 product and service activity strengthened: iPhone net sales rose 22% year over year to $57.0 billion, driven by higher Pro-model sales; Services rose 16% to $31.0 billion, led by advertising, the App Store and cloud services. Mac sales increased 6% to $8.4 billion, while iPad rose 8% to $6.9 billion and Wearables, Home and Accessories rose 5% to $7.9 billion.
Regional sales increased across all reported markets in Q2, including Greater China up 28% to $20.5 billion, Rest of Asia Pacific up 25% to $9.1 billion, Europe up 15% to $28.1 billion, Japan up 15% to $8.4 billion and the Americas up 12% to $45.1 billion; Apple attributed the Greater China increase primarily to higher iPhone sales.
Apple reported supply constraints and rising costs for advanced semiconductors, NAND and DRAM, with expectations that these pressures may intensify. Tariff exposure also remains uncertain; Apple is applying for refunds of certain tariffs invalidated by a February 2026 U.S. Supreme Court ruling, while further tariff or trade measures could affect its supply chain, component availability and pricing.
(Filed on January 30, 2026)
+15.7%
48.2%
$45.3B
iPhone net sales rose 23% to $85.3 billion in Q1 2026, driven by higher Pro-model sales; Services increased 14% to $30.0 billion, primarily from advertising, the App Store and cloud services. Mac declined 7% to $8.4 billion, while iPad rose 6% to $8.6 billion and Wearables, Home and Accessories declined 2% to $11.5 billion.
Apple announced updated 14-inch MacBook Pro, iPad Pro and Apple Vision Pro products during the quarter. Research and development expense increased 32% to $10.9 billion, driven primarily by infrastructure costs, headcount-related expenses and engineering program costs.
Greater China net sales increased 38% to $25.5 billion, primarily due to higher iPhone sales; sales also increased in the Americas by 11%, Europe by 13%, Japan by 5% and Rest of Asia Pacific by 18%.
Product gross margin percentage increased to 40.7% from 39.3%, primarily due to product mix, partially offset by tariff costs. Apple had $44.4 billion of manufacturing purchase obligations as of December 27, 2025, including $43.7 billion payable within 12 months.
Apple continued modifying its App Store compliance plan in response to European Commission engagement under the Digital Markets Act. Separately, the Ninth Circuit upheld and modified portions of the 2025 Epic Games injunction, allowing Apple to require parity in the size, form and placement of external purchase links and holding that Apple may charge a commission on link-out purchases.
(Filed on October 31, 2025)
+7.9%
47.2%
$35.9B
Q4 2025 product launches: Apple introduced iPhone 17, iPhone Air, iPhone 17 Pro and iPhone 17 Pro Max, along with Apple Watch Series 11, Apple Watch SE 3, Apple Watch Ultra 3 and AirPods Pro 3.
Annual context: Apple’s fiscal 2025 Services net sales increased 14% to $109.2 billion, primarily from advertising, the App Store and cloud services; iPhone net sales increased 4% to $209.6 billion, driven by higher Pro-model sales. The filing does not provide Q4-only sales by product or service.
During Q4, the company utilized the remaining $19.8 billion under its May 2024 repurchase authorization and repurchased 89.5 million shares; as of September 27, 2025, $221 million had been used under the new $100 billion May 2025 authorization.
Apple continued modifying its EU iOS, iPadOS, App Store and Safari business practices to comply with the Digital Markets Act. The European Commission had fined Apple €500 million in April 2025 and issued preliminary findings in a separate investigation; the company also remained subject to a U.S. court order barring commissions or fees on certain purchases made outside apps, pending appeal.
Tariffs announced beginning in Q2 2025, including additional U.S. tariffs on imports from China, India, Japan, South Korea, Taiwan, Vietnam and the EU, affected Apple’s supply-chain planning and contributed to annual product gross-margin pressure. The filing says the ultimate impact of further tariffs and retaliatory measures remains uncertain.
