iPhone revenue rose 17% to $57.6 billion (about Php 3.7 trillion) and Mac revenue 24% to $10.8 billion (about Php 685 billion) in the quarter to September 26th, Apple reports in its latest quarterly results. Total revenue for the company rose 12% to $114.5 billion (about Php 7.3 trillion), a record for the September quarter, in new CEO John Ternus’s first quarterly report at the helm of the company.
Both units grew despite supply constraints, CFO Kevan Parekh said on the earnings call, and he credited the MacBook Neo and MacBook Pro for the Mac’s jump. Ternus also named the Philippines’ Department of Education order for 170,000 MacBook Neos as Apple’s biggest education deal ever for Mac.
Meanwhile, iPad revenue fell 10%, and Wearables, Home and Accessories 8%. Parekh blamed iPad supply constraints and tough comparisons with last year’s launches of the A16 iPad, Apple Watch SE 3 and AirPods Pro 3.
Services revenue, however, rose 10% to an all-time high. Apple’s financial statements have the full breakdown, in the table below.
| Category | September 2025 quarter | September 2026 quarter |
|---|---|---|
| iPhone | 49,025 | 57,583 |
| Mac | 8,726 | 10,792 |
| iPad | 6,952 | 6,229 |
| Wearables, Home and Accessories | 9,013 | 8,300 |
| Services | 28,750 | 31,573 |
| Total | 102,466 | 114,477 |
Gross margin was 47.9%, including about a point from tariff refunds. Leaving the refunds out of both quarters, Parekh said, margin fell about a point from the June quarter, “primarily driven by higher memory costs.”
For the December quarter, Apple expects gross margin of 45% to 46%, which Parekh said “includes primarily the impact of higher memory costs, as well as some costs related to the ramp of Siri AI.” Ternus, who called the memory shortage a crisis in a Time interview, said memory pricing is now “unprecedented,” and Apple expects it to keep rising beyond December.
According to Ternus, price increases on many products, including Macs and iPads at the end of June and iPhones in September, offset some of that cost.
Apple forecasts December-quarter revenue growth of 7% to 10%, which Parekh said would make it “the best quarter for revenue in the history of the company.” Macs and iPads may be harder to get, though: COO Sabih Khan expects both to be supply-constrained this quarter, mostly because of memory.
With the holiday season just around the corner, we may find out just how strong the demand for Apple’s latest products truly is.
