Apple News 24 Hours

Last updated: July 31, 2026, 11:40 AM ET

Apple Reports Q3 Earnings and CEO Transition

Apple reported Q3 with $109.4 billion in revenue and a $29.8 billion profit, marking its strongest June quarter on record. The company across its platform, though this still fell short of Wall Street's expectations. Despite strong demand, Apple for iPhones, iPads, and Macs in the upcoming September quarter, with CEO Tim Cook attributing price increases to a "100-year flood on memory pricing." In a significant leadership change, Tim Cook as the new CEO, marking Cook's final earnings call before his planned resignation.

iPhone 18 Pro and Future iPhones Face Price Hikes and Supply Issues

Anticipation for the iPhone 18 Pro is mounting, with reports suggesting a potential starting price of $1,399, and some analysts predicting a substantial $300 price hike due to escalating chip shortages and memory costs. One analyst the iPhone 18 Pro and Pro Max could be $250-$300 more expensive than their predecessors. Apple's CFO indicated that regulatory changes to the App Store business model and a softening in mobile gaming have begun to affect Services revenue. Despite these challenges, demand for the upcoming iPhone models remains incredibly strong, though supply is expected to be a limiting factor throughout the September quarter. The iPhone 18 Pro may also feature an Apple-designed C2 modem, signaling a potential departure from Qualcomm.

iOS 27 and mac OS 27 Bring Refinements and New Features

The upcoming iOS 27 is poised to introduce significant upgrades, including a highly anticipated "just works" search functionality for the Mail app and expanded landscape features that hint at the arrival of an "iPhone Ultra" model. mac OS 27 iPhone Mirroring capabilities, allowing for quicker iPhone access from Macs. Additionally, iOS 27 is set to bring new features to Apple Notes, including improvements for Car Play and the Messages app. The Shazam app also received an update featuring iMessage stickers inspired by Ariana Grande's new album.

Apple's Hardware and Services Ecosystem Evolves

Apple's Mac sales experienced a notable surge of over 25% in the last quarter, largely driven by the MacBook Neo. Meanwhile, the M4 Pro Mac mini is available at a 30-day low price on Amazon, though supply is limited. In a move to address AI compute costs, Apple plans to offer paid iCloud+ upgrades for heavy users, with daily usage limits tied to subscription tiers. The company also continues to expand its smart home offerings, with reports indicating a major overhaul of its smart home products is imminent. Apple is also preparing to expand its Car Keys feature to additional Chinese car brands.

Financial Performance, R&D, and Market Reactions

Apple's fiscal Q3 2026 results have prompted a mixed reaction from Wall Street, with the stock opening down approximately 10%. Despite this, the company saw its gross margins and earnings per share boosted by tariff refunds. Apple spent record during Q3 2026, reflecting a continued acceleration in spending. The company will pay shareholders a quarterly cash dividend of $0.27 per share on August 13. Securities firm Rosenblatt has maintained a bearish outlook on Apple, citing short-term supply problems, while JP Morgan lowered its price target due to supply constraint worries but remains bullish long-term.

Other Apple Ecosystem News

In other news, Apple is reportedly preparing for a significant overhaul of its smart home products. The FCC has banned new foreign-made robotic vacuums, potentially impacting future Matter and Home Kit devices. Epic Games has launched the Epic Games Store in Brazil, bringing Fortnite and Rocket League Sideswipe to iPhones. Apple CEO Tim Cook also announced a donation to support earthquake relief efforts in Japan.