Apple anticipates a significant increase in supply constraints impacting its key products, including the iPhone, Mac, and iPad, during the upcoming September quarter. This warning comes after the company reported strong Q3 2026 results, which saw double-digit growth in iPhone and Mac revenue, though iPad revenue declined and Services experienced its first sequential drop since 2022.

During the earnings call, Apple CFO Kevan Parekh highlighted that currency fluctuations alone are projected to reduce revenue growth by approximately 2.5 percentage points. He explicitly stated that the "impact from supply constraints [is expected] to increase significantly sequentially."

Despite these challenges, Apple expects mid-teen year-over-year growth for iPhone revenue. For services, the growth rate is anticipated to remain similar to the previous quarter, excluding the foreign exchange impact. Overall, Apple forecasts total revenue for Q4 2026 to grow between 9% and 11% year over year.