Tim Cook passes the baton in Apple's Q3 2026 earnings call
Summary
Apple reported strong iPhone sales and overall revenue of $109.42 billion in the third quarter of 2026, but its services business saw a decline. This earnings call was CEO Tim Cook’s last before John Ternus takes over.Key Facts
- iPhone revenue was $54.25 billion, driven by a 22% increase in iPhone sales.
- Mac revenue reached $10.35 billion, helped by the popular, affordable MacBook Neo.
- iPad revenue was $6.19 billion, and wearables brought in $7.88 billion.
- Services revenue, including Apple TV, Apple Music, AppleCare, and iCloud, fell to $30.74 billion.
- Apple faces rising memory costs and supply limits, which may increase product prices and affect future sales.
- Apple’s stock dropped about 8% in after-hours trading despite strong hardware sales.
- Tim Cook announced his final earnings call and expressed confidence in John Ternus, who will lead future calls.
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