Apple Q3 2026 earnings landed with a clean answer to one obvious question: the company is still selling a lot of iPhones and Macs while the memory market makes hardware pricing uglier. In results Apple released Thursday, iPhone revenue rose 22 percent to $54.25 billion, and Mac revenue climbed 29 percent to $10.35 billion.
The numbers came during a global RAM shortage that has been pressuring device makers. Apple raised prices in June across Macs, iPads and other products as it dealt with tighter memory supply, according to earlier reporting by The Verge. The company has not yet raised iPhone prices, which is the part customers will watch with the least patience and the most receipts.
How did Apple do in Q3 2026 earnings?
Apple said the quarter was its strongest June quarter to date. CEO Tim Cook said in Apple’s release that the company posted double-digit revenue growth in iPhone, Mac and Services, as well as in every geographic segment.
Reuters reported that the iPhone result was Apple’s best third-quarter iPhone revenue. That is notable because Apple’s phone sales often soften before its next major launch event, when buyers who are paying attention tend to wait instead of buying the outgoing model. Apparently enough people did not wait.
The Mac business also grew sharply despite Apple’s June price increases. One affected product was Apple’s new MacBook Neo, which rose from $599 to $699 after its March debut. The Verge previously reported that the Neo had put pressure on the budget laptop market with a light design and fast performance.
What does the RAM shortage mean for Apple buyers?
RAM is the short-term memory a computer or phone uses to keep apps and tasks ready while the processor works. When RAM is scarce, hardware makers can face higher component costs or tighter supply, and Apple’s response so far has included higher prices on Macs, iPads and other devices.
The shortage is expected to last into 2027 and beyond, according to The Verge. That makes Apple’s current iPhone pricing the next pressure point. MacRumors reported that analysts expect the iPhone 18 lineup could bring price increases of as much as $200 when it arrives this fall.
Apple is also tying the next iPhone cycle to a broader Siri upgrade. The company plans to widely release a more personalized version of Siri alongside the iPhone 18, according to The Verge. The updated assistant is intended to answer questions about what is on a user’s screen, search across apps and carry out tasks such as adding calendar events.
The quarter also closes a long management chapter. It is Apple’s final earnings report with Cook as CEO. Cook is set to step down on September 1, and John Ternus, Apple’s vice president of hardware engineering, will take over the job.
Separately, Apple this week announced a new Upgrade program that will let customers lease an iPhone, iPad, Apple Watch or Mac for a fixed monthly payment. The timing is not subtle: if hardware prices keep rising, Apple would rather turn the pain into a subscription-like line item than watch buyers wander off to cheaper machines.
This story draws on original reporting from The Verge.
