Overview

• Apple reported $94 billion in revenue for fiscal Q3, a 10% year-over-year increase, with earnings per share of $1.57 surpassing analyst expectations.
• iPhone sales climbed 13% to $44.6 billion, reinforcing the flagship device as the primary engine of growth.
• Services revenue hit a record $27.4 billion, up 13% from a year earlier and highlighting its role as a key growth pillar.
• Apple incurred $800 million in U.S. tariff costs in the June quarter and, after shifting iPhone production to India, projects a $1.1 billion tariff impact in the September quarter.
• Despite pledges by CEO Tim Cook to boost AI spending and seven small acquisitions this year, Apple has not delivered a major Siri upgrade and faces analyst calls to pursue a large AI acquisition such as Perplexity.