Apple’s revenues in Q2 2026 (Q3 of its financial year) grew 16% YoY, reaching a June-quarter record of $109 billion. This was also the fourth consecutive quarter in which the company reported revenues of more than $100 billion. Both hardware (18% YoY) and services (12% YoY) grew in double digits. Revenues in every geographic segment grew in double digits, setting a June quarter record.

iPhone revenues grew 22% YoY. For the June quarter, iPhone revenue crossed $50 billion for the first time. Commenting on iPhone’s numbers, Principal Analyst Varun Mishra said, “iPhone’s growth was driven by the strong performance of its 17 series. Apple held iPhone prices throughout the quarter, while competitors’ prices rose by 15%-20%. This worked to Apple’s advantage. Apple was also aggressive with its shipments, especially in China, positioning for market share gains as competitors raised prices. Anticipation of iPhone price increases in the future also pulled forward some demand.”

Apple Revenues by Product Category, CY Q1 2007 – CY Q2 2026

Mac revenues grew 29% YoY, delivering a June quarter record. On Mac’s performance, Associate Director David Naranjo said, “Mac significantly outperformed the PC market, which is facing memory inflation and weak consumer demand. The MacBook Neo has expanded Apple’s market by offering a more attractive and affordable price point to students, first-time Mac buyers, and consumers who might have chosen a Windows PC. Although the MacBook Neo’s lower price reduced average selling prices (ASPs), its additional volume, along with sustained demand for the MacBook Air and MacBook Pro, drove strong revenue growth and further expanded Apple’s installed base.”

iPad was the only segment where revenues declined year on year due to a difficult comparison to last year's growth. Wearables, Home and Accessories revenue grew 6% YoY, driven by growth across Apple Watch, AirPods and accessories. Apple Watch revenues also grew, driven by shipment growth and record upgraders. However, ASPs declined due to the contribution of the SE series.

Commenting on the market outlook, Research Director Tarun Pathak said, “Since memory prices are expected to continue their upward trend, we expect a tougher environment for the smartphone industry in the second half. Rising component costs are forcing price increases across the Android ecosystem. However, Apple is expected to outperform the industry across its key hardware categories driven by the strength of its installed base and initial positive reception of Siri AI. June quarter results reinforce this view. OEMs face a difficult choice between protecting margins and protecting volumes, and the market will feel that pressure. Apple has so far avoided that trade-off.”  

About Counterpoint Research 

Counterpoint Research is a global market research firm specializing in products across the technology ecosystem. We advise a diverse range of clients – from smartphone OEMs to chipmakers and channel players to Big Tech – through our offices located in the world's major innovation hubs, manufacturing clusters and commercial centers. Our analyst team, led by seasoned experts, engages with stakeholders across the enterprise – from the C-suite to professionals in strategy, analyst relations (AR), market intelligence (MI), business intelligence (BI), product and marketing – to deliver services spanning market data, industry thought leadership and consulting. Our core areas of coverage include AI, Automotive, Consumer Electronics, Displays, eSIM, IoT, Location Platforms, Macroeconomics, Manufacturing, Networks and Infrastructure, Semiconductors, Smartphones and Wearables. Visit our Insights page to explore our publicly available market data, insights and thought leadership, and to understand our focus, meet our analysts and start a conversation.