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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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 The iPad Air has looked the same since 2020, making it the longest-running design in Apple's tablet lineup. There is a reasonable case that 2027 could be when that comes to an end.
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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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 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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 Apple's 20th anniversary iPhone is expected to arrive in the fall of 2027 with the most significant redesign the device has seen since the iPhone X.
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 Apple currently plans to unveil its first smart glasses at WWDC 2027 next June, and privacy will be a focus, according to Bloomberg's Mark Gurman.
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