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Strong iPhone 17 Sales Boost Apple Earnings

technologyMay 3, 2026·278 words·3 min read

Apple has reported much better results than expected for the second quarter of 2026. The company earned $111.18 billion in revenue, about 17 percent more than a year earlier. This was higher than the $109 billion that financial analysts had predicted. Earnings reached $2.01 per share, and net income — the profit after costs — jumped 22 percent to $29.58 billion.

Many people wanted to buy the new iPhone 17. Apple also sold the cheaper iPhone 17e and a basic new MacBook Neo. Cook said Apple is growing in India, where its market share — the part of the market it controls — is still small. Days before the report, Apple announced that Cook will leave his job on 1 September. He has led Apple for fifteen years. He will stay as chairman.

John Ternus, who leads Apple's hardware team, will be the next CEO. Cook said memory chip costs — chips that store data — will be much higher next quarter. This is because rival companies need more chips for artificial intelligence (AI). Apple has spent less on AI than Google and Microsoft. Cook promised Apple will make AI feel natural and easy to use. A new Siri will arrive later this year.

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