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Apple Reports Strong iPhone and Mac Sales Amidst Global RAM Shortage
Key points
- iPhone sales increased 22% to $54.25 billion.
- Mac sales increased 29% to $10.35 billion.
- Overall revenue reached $109.4 billion.
- Apple raised prices on Macs, iPads, and other devices due to RAM shortage.
Strong Q3 Performance
Apple announced its third-quarter earnings, reporting a significant increase in sales for both its iPhone and Mac product lines. iPhone sales rose by 22 percent to $54.25 billion, while Mac sales saw a 29 percent jump, reaching $10.35 billion. This contributed to the company's total revenue of $109.4 billion for the quarter.
Navigating RAM Shortages
These sales figures were achieved despite an ongoing global memory shortage affecting device manufacturers. Apple has responded to this shortage by increasing prices on several products, including Macs and iPads. The company's new MacBook Neo, for instance, saw its price increase from $599 to $699. The RAM shortage is projected to persist until 2027 or beyond.
iPhone Sales Momentum and Future Outlook
The reported iPhone revenue marks Apple's best third-quarter for the device, a period when sales typically decline before new model launches. CEO Tim Cook attributed this growth to existing users upgrading their iPhones. While iPhone prices have not yet increased, analysts anticipate a potential price hike of up to $200 for the upcoming iPhone 18, which is also expected to feature an expanded Siri AI with enhanced personalization and in-app functionality.
Leadership Transition and Other Revenue Streams
This earnings report is the last under Tim Cook's leadership, as he is scheduled to step down on September 1st, with John Ternus taking over. In addition to product sales, Apple reported $30.74 billion in services revenue, which includes subscriptions like Apple One and Apple TV. Wearables generated $7.88 billion, while iPad revenue was $6.2 billion, falling below expectations.
New Upgrade Program
Apple also introduced a new Upgrade program this week, allowing customers to lease iPhones, iPads, Apple Watches, or Macs for a fixed monthly fee.
✨ This summary was generated by AI from the outlets' reporting listed below. It is not independently verified and may contain errors — check the original sources. How BrevFeed works →
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Reporting from
Apple's third-quarter earnings report shows a 22 percent increase in iPhone sales and a 29 percent increase in Mac sales, totaling $109.4 billion in overall revenue. These sales figures occurred despite a global RAM shortage that has led Apple to raise prices on some devices and is expected to continue until at least 2027.