Apple News 24 Hours

Last updated: July 31, 2026, 8:30 AM ET

Apple Reports Q3 Earnings, Supply Constraints Loom

Apple reported record of $109.4 billion, driven by strong Mac sales, particularly the MacBook Neo, which saw over a 25% increase year-over-year according to the company. The tech giant also reached a significant milestone, hitting 1.5 billion paid subscriptions across its services as detailed in its earnings report. Despite these successes expected to impact revenue in the upcoming September quarter, with high demand for the iPhone predicted to go unmet due to limited availability. These supply issues, coupled with ongoing supply chain constraints, have led JP Morgan to to $340, though the firm remains bullish on the company long-term.

AI, iCloud+, and Services Face Evolving Business Models

Apple's strategy for covering its growing AI compute costs currently, with plans to offer paid upgrades for users with higher AI usage limits as reported by Mac Rumors. This approach suggests that heavy AI users, particularly those relying on features like Siri, may eventually to access advanced capabilities. Meanwhile, Apple CFO Kevan Parekh noted that and a general softness in mobile gaming have begun to affect Services revenue growth. The company also announced a quarterly cash dividend of $0.27 per share for shareholders, maintaining the rate introduced earlier in 2026 following its strongest June quarter on record.

Tim Cook Departs, John Ternus Takes the Helm

In a significant leadership transition as Apple CEO, confirming that John Ternus will assume the CEO role on September 1st and will subsequently lead future earnings calls as reported by 9to5Mac. Cook, who will transition to an advisory role, thanked shareholders and discussed the company's performance and challenges, including reluctantly raising prices due to unprecedented memory cost increases. Apple also announced a donation to support earthquake relief efforts in Japan, and separately, donations for European wildfire relief as stated by Cook on social media.

Product Development and Ecosystem Expansion

Developments in Apple's product ecosystem include the release of public betas for iOS 27 and mac OS, which. The company's smart glasses, the Even Realities G2, are offering a glimpse into Apple's cautious entry into the smart glasses field. Apple's Car Keys feature is set to expand to another Chinese automaker's brands, following initial support for GWM's Tank vehicles as indicated by backend code changes. In entertainment, the new Snoopy Presents special, 'There's No Place Like Home, Snoopy,' is now available on Apple TV continuing the partnership with Peanuts. The company is also reportedly planning a major overhaul of its smart home products.

Hardware Updates and Supply Chain Concerns

The upcoming MacBook Ultra is expected to feature a redesigned chassis that will not remain exclusive to that model for long according to Mac Rumors. Apple's R&D spending reached a record $11.73 billion in Q3 2026, reflecting accelerated investment throughout the fiscal year as revealed in its quarterly results. However, US Senators, citing national security concerns. Tim Cook addressed memory supply challenges, suggesting that adding more suppliers may not necessarily lead to lower product prices. Regulatory actions from the FCC banning new foreign-made robot vacuums could also threaten future Matter and HomeKit models.

Software and Service Updates

iOS 27 is set to introduce several new features, including enhancements for the Notes app as detailed by 9to5Mac, and will finally decouple alarm volume from the iPhone ringer. Rumors suggest five additional unannounced features will be included in the iOS 27 release this fall. The Apple Upgrade program has launched, offering new leasing options, while the iPhone Upgrade Program is being discontinued. Separately, Epic Games has launched the Epic Games Store in Brazil, bringing Fortnite and Rocket League Sideswipe to iPhones as announced by the company.

Market Trends and Competitor Activity

In other tech news, Yahoo Weather has received a major overhaul for its iOS app, featuring new functionalities and an enhanced interface. Spotify has introduced a new Running Mode for its iOS app, allowing users to create tempo-matched music playlists for their workouts as announced by the streaming service. Microsoft is preparing to launch a new "super app" for Copilot soon. Meanwhile, Amazon is offering a $300 discount on Samsung's 32-inch M80F smart monitor, bringing the price down to $399.99 matching all-time.