Apple’s iPhone and Mac sales are on the rise even as a global memory shortage squeezes device makers. In its third-quarter earnings report released on Thursday, Apple revealed that iPhone sales jumped 22 percent to $54.25 billion, while Mac sales increased 29 percent to $10.35 billion.
Apple raised prices across its Macs, iPads, and other devices in June as it contends with a global memory shortage expected to last until 2027 and beyond. The move also included a price hike for the company’s new MacBook Neo, which now costs $699 instead of $599. Since its debut in March, the Neo disrupted the affordable laptop market with its lightweight form factor and speedy performance.
It’s the company’s last earnings report with CEO Tim Cook at the helm. Cook is set to step down on September 1st, with John Ternus, Apple’s vice president of hardware engineering, taking his place. “Today, Apple is proud to report our strongest June quarter ever, with double-digit revenue growth across iPhone, Mac and Services, and in every geographic segment,” Cook says in the press release.
Apple hasn’t raised the prices of its iPhones yet, but analysts predict that the iPhone 18 could cost up to $200 when the lineup launches this fall. Apple is planning to widely release its more personalized Siri AI alongside the iPhone 18, allowing its assistant to answer questions about what’s on your screen, search across apps, and perform tasks, like adding events to your calendar.
This week, Apple also announced a new Upgrade program that will let you lease an iPhone, iPad, Apple Watch, or Mac for a set monthly price.
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