Apple has published its financial report for the fourth quarter of fiscal 2026 (July — September), recording an all-time high in revenue for its mobile division. Smartphone sales grew by 17% year-over-year, reaching $57.58 billion. Notably, this result was achieved even though the autumn iPhone 18 lineup completely lacked a base model — only the flagship Pro and Pro Max versions went on sale. Total quarterly corporate revenue increased by 12% to $114.5 billion.
Pro and Pro Max Flagships as the Sole Sales Engine
The September debut of the iPhone 18 lineup, consisting exclusively of the high-end Pro and Pro Max versions, was the primary driver of the record quarter. Simultaneously, Apple raised prices on previous-generation devices, providing additional support for the average check. During the same period, the company introduced the iPhone Duo — however, revenue from its pre-orders is not yet included in the current report, as sales figures for the foldable smartphone will be reflected in future quarterly data. Thus, the July–September report essentially captures results achieved "on Pros alone," making the $57.58 billion figure even more significant in terms of margin.
Memory Shortage: From Component Cost Hikes to 2027 Delivery Delays
The electronics price increases noted in the report are directly tied to supply chain disruptions and a sharp rise in memory chip costs. According to the company, component shortages severely limited the initial batch of Apple's first foldable smartphone, with delivery times for some customers stretching into 2027. This places additional pressure on the mobile division's margins and could affect shipment volumes in the first half of 2027.
Management Commentary: "Memory Cost Increases Partially Offset"
"We faced increased memory costs compared to the quarter ending in June; this was partly offset by existing inventory and reduced costs for other components," said Apple CEO John Ternus in an interview with American television network CNBC. The statement underscores that the company is actively utilizing strategic component reserves to buffer against price shocks, though medium-term cost pressures will persist unless the memory market stabilizes.
Mac and Services Grow, Tablets Lose Ground
Beyond smartphones, other segments showed noticeable momentum. Mac computer sales grew by 24% to bring in $10.79 billion, marking one of the highest growth rates in the company's portfolio over the past few years. Apple's services revenue, which includes subscriptions, App Store commissions, and cloud services, reached $31.57 billion, confirming the ecosystem's robust monetization. The only segment with negative dynamics was tablets: iPad sales dropped by 10% to $6.24 billion, indicating a continued slowdown in demand within the mid-range mobile device category.
What's Next: iPhone Duo and Supply Chain Pressures
For investors and analysts, the key question for coming quarters will be the commercial launch of the iPhone Duo. Limited initial volume and delivery times stretching into 2027 signal that Apple is forced to balance demand with actual manufacturing capabilities. At the same time, rising memory prices could become a systemic factor influencing pricing across the entire device lineup in 2027. Nevertheless, the current report demonstrates that even under structural constraints and without an affordable base model, Apple is capable of generating record revenue through the premium segment and its service ecosystem.
