Apple posted its best March quarter ever, generating $111.2 billion in revenue and double‑digit growth across every region and product line. CEO Tim Cook and CFO Kevan Parekh credited the surge to the newly launched iPhone 17 family, which delivered $57 billion in sales, a 22% year‑over‑year increase. Supply constraints tied to TSMC’s 3nm AI chips kept the top line from climbing higher.

Mac revenue rose six percent to $8.4 billion, driven by strong demand for the MacBook Neo, Mac mini and Mac Studio—both the latter models selling out as AI‑focused users snapped them up. Cook warned that memory costs will climb sharply in the June quarter, a pressure that could erode margins. Wearables hit $7.9 billion, up five percent, while services broke a record with $31 billion in sales.

Apple announced that John Ternus will assume the chief‑executive role on September 1, 2026, receiving Cook’s full endorsement as a “brilliant engineer and born leader.” Reduced IEEPA tariffs softened cost pressures, and any refunds will be funneled back into U.S. manufacturing. Parekh projected June‑quarter revenue growth of 14‑17%, with services expected to maintain a similar trajectory. Apple also expects retail traffic to stay strong.