Apple Inc.

Q3 results strong; iPhone/Mac momentum and Services record - Revenue: $109.4B (+16% YoY); June quarter record. - iPhone: $54.3B (+22% YoY), June quarter record; IDC indicates share gains globally; iPhone install base and upgraders at records. - Mac: $10.4B (+29% YoY), best June quarter yet; share gains per IDC; driven by MacBook Pro and all-new MacBook Neo. - Services: $30.7B (+12% YoY); June quarter record and all-time records in some categories (notably cloud and payments). - Installed base: >2.5B active devices, all-time high across major categories.

Margins/financial quality: gross margin slightly up, but not “clean” due to tariff refunds; Services margin down - Company gross margin: 50.1% (+80 bps sequential); included ~2 percentage points benefit from tariff refunds. - Products gross margin: 40.1% (+140 bps sequential); also included ~2.5 percentage points benefit from tariff refunds. - Services gross margin: 75.6% (-110 bps sequential) due to mix (i.e., not primarily technology/AI cost stated, but margin pressure exists sequentially). - Cash: operating cash flow $34.4B (record); ending cash/securities $147B, debt $84B. - Net income $29.8B; EPS $2.02 (+29% YoY).

Capital return / shareholder payouts - Returned $33B to shareholders in the quarter: $4B dividends + $25.8B buybacks. - Board declared a new dividend: $0.27/share, payable Aug 13, 2026 (record date Aug 10, 2026).