Apple’s iPhone revenue jumps to $57 billion despite chip shortages
Published: (April 30, 2026 at 04:58 PM EDT)
1 min read
Source: The Verge
Source: The Verge
iPhone Revenue Surge
Apple’s iPhone revenue jumped 22 percent to $57 billion over the past few months, despite supply‑chain issues affecting the device’s processor. In an interview with Reuters, Apple CEO Tim Cook said iPhone demand was “off the charts” but added there’s “a little less flexibility in the supply chain at the moment for getting more parts.”
Quarterly Earnings
Apple earned $111.2 billion in revenue during the second quarter of 2026, its “best March quarter ever,” according to Cook.
Leadership Update
The earnings report follows the announcement, a little over a week earlier, that CEO Tim Cook will retire in September. John Ternus, the company’s head of hardware engineering, …