Counterpoint: Apple (AAPL.US) surpasses $100 billion in revenue for the fourth consecutive quarter 

The Zhitong Finance App learned that Counterpoint Research published an article stating that Apple (AAPL.US) revenue for the second quarter of 2026 (corresponding to its third fiscal quarter of fiscal year 2026) increased 16% year over year to reach 109 billion US dollars, a record high for the June quarter. This is the fourth consecutive quarter in which Apple's revenue surpassed $100 billion. The hardware business (up 17% year over year) and service business (up 16% year over year) both achieved double-digit growth, and all regions achieved double-digit revenue growth, and set a new historical record for the June quarter.

iPhone business revenue increased 22% year over year. In the quarter ending June, iPhone's revenue surpassed $50 billion for the first time. Regarding the iPhone business performance, Varun Mishra, chief analyst at Counterpoint Research, said, “The iPhone business growth has mainly benefited from the strong performance of the iPhone 17 series. Apple kept iPhone prices stable throughout the quarter, while competitors' product prices generally rose by 15%-20%, which further enhanced Apple's market competitiveness. Apple is also actively increasing shipments, especially in the Chinese market, to seize market share as competitors raise prices. At the same time, market expectations that iPhone prices may rise in the future have also prompted some consumers to buy early.”

Apple Revenue by Product Category Q1 2007 to Q2 2026

Source: Counterpoint Research Apple 360 Services

Mac business revenue increased 29% year over year, setting a record for the June quarter. Referring to Mac business performance, David Naranjo, Deputy Director of Counterpoint Research, said, “The Mac business performance is clearly superior to the overall PC market. Currently, the PC industry is facing the double challenge of rising storage costs and weak consumer demand. The MacBook Neo has further expanded Apple's user base by providing students, first-time Mac buyers, and consumers who might have chosen a Windows PC with a more attractive and friendly price position. Although the lower selling price of the MacBook Neo lowered the overall average sales price (ASP), the resulting increase in sales, combined with continued demand for MacBook Air and MacBook Pro, has jointly driven strong revenue growth while further expanding Apple's active equipment installed capacity.”

iPad is the only business segment where Apple's revenue declined year over year, mainly due to the high base for the same period last year. Revenue from the wearables, home and accessories business increased 6% year over year, mainly benefiting from the growth of Apple Watch, AirPods and accessories products. Among them, the Apple Watch business achieved revenue growth, mainly driven by increased shipments and record demand for switch upgrades. However, due to the increase in the share of sales volume of SE series products, their average sales price (ASP) has declined.

Referring to future market prospects, Counterpoint Research Research Director Tarun Pathak said, “As storage prices are expected to continue to rise for some time to come, the smartphone industry will face a more severe market environment in the second half of the year. Rising component costs are driving up prices across the Android ecosystem. However, with the huge active equipment installed capacity advantage and the positive market feedback received by Siri AI in the early days, we expect Apple to continue to outperform the overall industry in its core hardware product categories. The June quarterly results further confirm this view. Currently, most OEMs are facing a difficult trade-off between maintaining profit margins and securing shipments, and the market will feel this pressure. Up to now, Apple has managed to avoid this dilemma.