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Apple shares slide nearly 10% despite record quarter
Apple posted record Q3 2026 revenue of $109.4 billion, but its shares fell nearly 10% as investors awaited stronger guidance.
Apple reported record revenue and profit for the third quarter of fiscal 2026, yet investors sold the stock. Shares fell nearly 10% after the results, even though the company exceeded analysts' expectations for both revenue and profit.
The quarter ended June 27. Apple posted $109.4 billion in revenue, up 16% from the same period a year earlier. Operating profit rose to $35.7 billion, while net income reached $29.8 billion. Both figures represent new records for the company.
iPhone sales reach $55.3 billion
Apple’s product and services results were:
- iPhone: $55.3 billion, up almost one-quarter
- Mac: $10.4 billion, compared with $8 billion a year earlier
- Services: $30.7 billion, compared with $27.4 billion
- iPad: $6.2 billion, compared with $6.6 billion
- Wearables and accessories: $7.9 billion, compared with $7.4 billion
The iPhone remains Apple’s main growth engine. Services, however, provide steadier revenue and higher margins than the company’s hardware, according to the source.
Investors are waiting for the next forecast
The market’s reaction suggests that a strong quarter alone was not enough. Investors also want a more confident outlook for the coming months, but the report as presented does not include Apple’s specific forecast for the next quarter.
The global smartphone market is growing slowly, increasing the importance of premium-device upgrades. IDC estimates that the premium segment is currently supporting the broader industry. That makes Apple’s performance in its most expensive iPhone models particularly significant, although the source does not provide a separate breakdown for those devices.
The next quarter will determine whether the sell-off continues. A cautious forecast, or another stumble in iPhone and services performance, could keep pressure on Apple shares despite the record results.
Ilya Ignatov is a technology journalist and news writer. He graduated from the Moscow Technical University of Communications and Informatics with a degree in information security and has covered hardware, software, and consumer electronics since 2018.