Apple guides 14-17% revenue growth for June quarter

Apple expects total company revenue for the June quarter of fiscal 2026 to grow between 14% and 17% year over year, describing it as its 'best view of constrained supply.'

The guidance comes amid a global memory shortage tightening availability of DRAM and NAND, driven by surging demand from AI infrastructure. Apple also flagged a 'difficult compare' for iPad due to the launch of the A16-powered model in the year-ago quarter.

For Services, Apple anticipates year-over-year growth at a rate similar to the March quarter after removing favorable foreign exchange tailwinds. The company reported $30.98 billion in Services revenue for Q2 2026, up 16% year over year.

Apple's outlook assumes global tariff rates and policies remain as of the earnings call, with no worsening of the macroeconomic environment. It projects gross margin between 47.5% and 48.5%, operating expenses between $18.8 billion and $19.1 billion, other income and expense around $250 million excluding minority investment marks, and a tax rate around 17%.

Earlier today, Apple reported $111.2 billion in revenue for Q2 fiscal 2026, a 17% year-over-year increase.