Apple Revenue Surges 16% to $143.76 Billion as iPhone Sales Jump 23% Despite Supply Constraints
Summary
Apple reports massive Q1 2026 earnings with revenue surging 16% to $143.76 billion, driven by staggering iPhone demand that jumped 23% to $85.27 billion despite supply constraints, with China sales exploding 38% as the tech giant beats Wall Street expectations.
Key Points
- Apple reports Q1 2026 earnings with revenue surging 16% annually to $143.76 billion, beating Wall Street estimates of $138.48 billion
- iPhone sales drive growth with 23% increase to $85.27 billion as CEO Tim Cook describes demand as 'staggering', particularly strong in China where sales jumped 38%
- Company forecasts next quarter revenue growth of 13-16% but warns of constrained iPhone supply due to advanced chip manufacturing limitations and rising memory costs