iPhone
June-quarter iPhone revenue rose 22% to $54.3B, a June-quarter record. iPhone 18 Pro and Pro Max went on sale September 18, 2026, from $1,199 and $1,299.
The numbers
What it is
The iPhone lineup, from the $599 iPhone 17e through the iPhone 17 and iPhone Air to the iPhone 18 Pro and Pro Max launched in September 2026. The foldable iPhone Duo is tracked as its own project.
Why it matters to the stock. iPhone is about half of revenue, so its unit demand and pricing drive most of the quarterly surprise. The September-quarter results on November 2 are the first to include a full stretch of iPhone 18 Pro sales.
News
Apple shares fall after Nikkei reports iPhone 18 Pro order cuts of 15%
Apple shares fell more than 2.5% in early trading on October 9, 2026 after Nikkei Asia reported that Apple cut iPhone 18 Pro component orders by at least 15% for October on weaker-than-expected demand.
iPhone 18 Pro and Pro Max launch at $1,199 and $1,299 with C2 modem
Apple announced the iPhone 18 Pro and iPhone 18 Pro Max on September 9, 2026 at $1,199 and $1,299.
KeyBanc flags iPhone 18 event as possible negative catalyst, $250 target
A KeyBanc note reported on September 7, 2026 kept its Underweight rating and $250 target on Apple and warned that the September 9 iPhone event could hurt the stock.
Apple 10-Q shows $25.8B of buybacks and $4.0B of dividends in June quarter
Apple's quarterly report for the period ended June 27, 2026 shows net sales of $109.4 billion and cash returns of $25.8 billion in share repurchases plus $4.0 billion in dividends and dividend equivalents.
Apple raises iPhone prices in Japan by up to about 11%
Apple raised iPhone prices in Japan on July 17 U.S.
Citi raises Apple price target to $365 from $315, keeps Buy
Citi lifted its 12-month Apple price target to $365 from $315 on July 13, 2026 and kept a Buy rating ahead of the July 30 earnings report.
Tim Cook says Apple price increases are unavoidable as memory costs surge
In a Wall Street Journal interview published June 17, 2026, Tim Cook said price increases are unavoidable because memory supply has tightened and memory makers are passing on large price increases.