Apple beats expectations on Mac strength, but weighed on by iPhone

Published: 2026-05-01 02:20:54 ET AAPL

The group has posted solid Q2 results, bolstered by its computers and services, despite supply constraints weighing on iPhone sales.

Esteban Tesson

Published on 05/01/2026 at 02:20 am EDT

Apple reported better-than-expected results for the quarter ended March, with revenue of $111.18bn and EPS of $2.01, compared to forecasts of $109.66bn and $1.95 respectively. Performance was driven by Mac sales, which reached $8.4bn, notably supported by the launch of the MacBook Neo. Services also contributed to growth, generating $30.98bn, while iPad and wearables sales amounted to $6.91bn and $7.9bn respectively.In contrast, iPhone sales came in at $56.99bn, slightly below expectations, despite what was described as very strong demand. CEO Tim Cook cited supply constraints for advanced chips, linked to their technological proximity to those used in artificial intelligence, which limited production capacity. This situation comes as the new iPhone 17 lineup, developed under the leadership of John Ternus, aims to strengthen the appeal of upmarket models, while maintaining stable pricing.Its gross margin reached 49.27%, above expectations, reflecting the group's ability to absorb rising costs. In China, sales exceeded forecasts, reaching $20.5bn. Apple also announced a new $100bn share buyback program, confirming its shareholder return policy amid overall solid performance.Following these results, Apple shares fell 1% during extended trading on Thursday.