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Apple Posts $111 B Revenue, Names John Ternus CEO

5/2/2026

Summary

Story summary

United States – Apple CEO Tim Cook will step down on September 1, 2026, serve as chairman, and John Ternus, head of hardware engineering, will become CEO.
Apple posted Q2 2026 revenue of $111.2 billion, iPhone revenue $57 billion, and EPS $2.01, all up year over year.
CFO Kevan Parekh forecast Q3 iPhone sales to rise 14%-17% year over year, above the 9% estimate.
Services revenue hit $30.9 billion in the March quarter, up from $26.6 billion a year earlier.
Cook said AI tops his agenda and R&D rose to $11.4 billion from $8.5 billion ago.
He warned costs jumped ~500% since August and urged Ternus to keep innovation as ‘North Star.’

Summary

Story summary

Apple faces EU antitrust probes over its App Store, adding regulatory pressure to services.
The company warned that rising memory-chip prices and limited TSMC processor supplies are constraining iPhone output.
Greater China sales surged 28% year-over-year to $20.5 billion, outpacing other regions and driving a record March quarter for the market.
Apple will seek refunds for tariffs paid under the Trump administration and reinvest the funds into U.S. manufacturing.
The $500 MacBook Neo for students targets a $20 billion low-cost laptop market dominated by Chromebooks.

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Story summary

United States – Apple CEO Tim Cook will step down on September 1, 2026, serve as chairman, and John Ternus, head of hardware engineering, will become CEO.
Apple posted Q2 2026 revenue of $111.2 billion, iPhone revenue $57 billion, and EPS $2.01, all up year over year.
CFO Kevan Parekh forecast Q3 iPhone sales to rise 14%-17% year over year, above the 9% estimate.
Services revenue hit $30.9 billion in the March quarter, up from $26.6 billion a year earlier.
Cook said AI tops his agenda and R&D rose to $11.4 billion from $8.5 billion ago.
He warned costs jumped ~500% since August and urged Ternus to keep innovation as ‘North Star.’

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