Apple Posts Record Q3 Revenue as Supply Constraints Weigh on Outlook

Apple is racing to bring generative AI deeper into its devices and services, with a long-delayed Siri overhaul seen as critical to reviving product appeal and defending its ecosystem. The fiscal third-quarter results therefore offered investors a broader test of whether robust hardware demand and spending on Apple Intelligence can translate into durable growth as rivals move faster to commercialize AI features.

Apple said on July 30 that revenue for its fiscal third quarter ended in June 2026 rose 16% from a year earlier to $109.4 billion, a record for the period. Chief Executive Tim Cook said testing of the revamped AI-powered Siri had produced positive feedback. Still, constraints on advanced-process manufacturing capacity and component supply limited the outlook, leaving the company’s forecast for the next quarter below Wall Street expectations.