Overview

• Analysts project Apple will report roughly $90 billion in Q3 revenue, reflecting about 2–4 percent growth in iPhone sales and 4 percent overall revenue gains.
• The company is set to absorb an estimated $900 million in U.S.-China tariff costs, putting pressure on gross margins projected near 46 percent.
• Services revenue is forecast to increase about 11 percent year-over-year, underscoring its role in offsetting hardware headwinds.
• TD Cowen and other analysts warn Apple has roughly until late 2026 to turn its Apple Intelligence platform into a standout feature against competition from Google’s AI-enhanced Pixel 10.
• Analysts expect Apple to launch a thinner ‘iPhone Air’ model this fall and to introduce a foldable iPhone by September 2026 to drive replacement sales.