Apple posts record June quarter, but higher prices loom large

Macworld Apple’s third-quarter 2026 earnings report on Thursday wasn’t your typical financial announcement. It was Apple CEO’s Tim Cook’s last full quarter, which gave it a bit of nostalgia. But more importantly, it marked the end of a quarter where Apple announced steep price increases for the Mac, iPad, HomePod, Apple TV, and Apple Vision Pro following increased costs for RAM, storage, and other components. Turns out that Apple posted its strongest June quarter ever. Apple announced revenue of $109.4 billion for the quarter, a 16 percent year-over-year increase. The company’s gross margin was 50.1 percent, and diluted earnings per share (EPS) were $2.02, up 29 percent year over year. “Today, Apple is proud to report our strongest June quarter ever, with double-digit revenue growth across iPhone, Mac and Services, and in every geographic segment,” said Cook in a press release. The Mac boasted a 29 percent increase (a June quarter record), and Apple said it se