Apple beat Q3 earnings estimates with $94B revenue, but faces multiple pressures
Apple reported a 10% YoY revenue jump to $94.04 billion and $1.57 earnings per share for Q3, topping Wall Street’s $89.3 billion and $1.43 expectations. iPhone sales surged 13% yearly, driving the upside.
CEO Tim Cook said the company hit a “June quarter revenue record,” buoyed by growth in iPhone, Mac, and services. 
Forrester analyst Dipanjan Chatterjee noted rising services revenue cushions weaker product results. He flagged slow hardware innovation and a glitchy AI rollout as ongoing issues. Apple’s AI features offer only incremental upgrades, and promised Siri AI improvements announced over a year ago still haven’t launched.
Craig Federighi commented on Siri delays at Apple’s developer conference in June.
“This work [on Siri] needed more time to reach our high-quality bar,” said Craig Federighi, Apple’s vice-president of software engineering, during the company’s developer conference in June.
Trade tensions add to Apple’s headaches. Trump’s tariffs on China and now India threaten supply chains as 90% of iPhones get assembled in China. Cook expected tariffs to hike costs by $900 million this quarter.
Apple’s stock has dropped 15% this year, second worst among the “Magnificent Seven” tech giants after Tesla. After hours on earnings day, shares ticked up 1.5%.
Apple is holding value above $3 trillion but must prove it can innovate fast and navigate a tougher global trade landscape to stabilize stock and growth.
