Apple is coming off a strong fiscal Q3 (ended June 27) with record June-quarter revenue driven by iPhone, Mac, and Services growth, while preparing for a busy fall hardware season. Key recent moves include the U.S. launch of the new Apple Upgrade leasing program and the release of OS 26.6 updates that optimize devices ahead of the major fall software launch featuring enhanced Siri AI / Apple Intelligence. Attention is focused on expected September launches (iPhone 18 Pro models and a first foldable iPhone) amid ongoing memory-cost pressures that earlier drove some product price increases. Vision Pro continues receiving software support, though longer-term headset hardware plans have been scaled back.
- Strong Q3 FY2026 Results: Apple reported $109.4 billion in revenue (up 16% year-over-year) and $29.8 billion net profit ($2.02 diluted EPS). Records were set for total revenue, EPS, iPhone, Mac, and Services in the June quarter. Gross margin reached 50.1%. Installed base of active devices hit an all-time high. Tim Cook highlighted double-digit growth across iPhone, Mac, Services, and all geographic segments.
- Apple Upgrade Leasing Program Launches: Apple introduced “Apple Upgrade” in the U.S. (partnered with Klarna), allowing leases on most iPhone, iPad, Mac, and Apple Watch models with 12–36 month terms. It replaces the long-running iPhone Upgrade Program (and related iPhone Payments). Customers can upgrade, buy out, or return devices at term end. Entry-level models are generally excluded; AppleCare+ is not bundled.
- OS 26.6 Updates Released: Apple shipped iOS 26.6, iPadOS 26.6, macOS 26.6, watchOS 26.6, tvOS 26.6, and visionOS 26.6. These focus on bug fixes, security patches (dozens across platforms), and Spotlight index optimization to prepare for the fall OS 27 releases and deeper Siri AI / Apple Intelligence features. They are viewed as the final major point updates before the September software launch.
- Fall Hardware Expectations: Reports point to a September event featuring iPhone 18 Pro and 18 Pro Max (A20 Pro chip, camera upgrades including possible variable aperture, smaller Dynamic Island, C2 modem with enhanced satellite capabilities) plus Apple’s first foldable iPhone (often called iPhone Ultra). Apple Watch Series 12 and Ultra 4 are also expected around the same time. Additional Mac and iPad refreshes (M5-series chips, entry-level iPad with Apple Intelligence support, possible OLED iPad mini) are anticipated later in the year. A redesigned “MacBook Ultra” remains more likely in late 2026 or early 2027.
- Vision Pro Status: visionOS 26.6 was released with bug fixes and preparation for visionOS 27 (which adds Siri AI visual intelligence, panorama-to-spatial-scene Environments, faster Wi-Fi, and other refinements). Hardware roadmap has been scaled back under incoming leadership focus; successor headsets appear delayed, with greater emphasis shifting toward future smart glasses. The M5 Vision Pro remains the current model (price previously raised amid memory costs).
- Other Notes: Earlier price increases hit MacBooks, iPads, and Vision Pro due to global memory/storage cost pressures (iPhones largely spared so far). App Store enhancements announced at WWDC 2026 (Creative Assets, better discovery tools, parental controls) continue rolling out. Services growth remains solid but faced some near-term expectations pressure in the latest quarter. No major new hardware was shown at WWDC 2026, which focused on software and AI.
Overall, the immediate focus is post-earnings momentum, the new leasing option, device readiness for fall software, and anticipation of the next iPhone generation.
