Apple: iPhone and Services in the latest reported quarter
Apple Inc. · NASDAQ: AAPL. A filing-based view of what changed, what the numbers support, and what they cannot prove.
- Research updated
- Latest filing analyzed
- 10-Q for period ended 2026-06-27, filed 2026-07-31
- SEC filing cutoff
- Publication version
- aapl-pilot-2026-09-18
What Apple does
Company-specific synthesis. Apple designs and sells iPhone smartphones, Mac computers, iPad tablets, and wearables, home devices and accessories. Its Services category includes offerings such as advertising, cloud services, the App Store and subscriptions. A device purchase and continuing service use can generate different kinds of revenue; this mix makes it useful to examine the categories separately. This description is Arqaris wording based on Apple's 2025 Form 10-K, Item 1 and segment information, not copied from a company-profile vendor. The product categories are management reporting categories, not separate audited operating segments.
Key findings
- Reported fact: Quarter sales rose from $94.0 billion to $109.4 billion for the comparable quarter a year later. Calculation: that is approximately 16% growth using the unrounded figures below.
- Reported fact: iPhone sales reached $54.3 billion versus $44.6 billion, while Services reached $30.7 billion versus $27.4 billion. Interpretation: both categories contributed to the increase, but one quarter does not establish whether the pace will persist.
- Reported fact: iPad sales were $6.2 billion versus $6.6 billion a year earlier. Interpretation: growth was uneven across the product lines; total sales alone obscure that variation.
Financial evidence
Amounts are USD millions from Apple's Form 10-Q, consolidated net sales by category, for the three months ended 2026-06-27 and the comparable prior-year quarter. Percent changes are Arqaris calculations: (current ÷ prior − 1) × 100, rounded to whole percentages.
| Category | Latest quarter | Prior-year quarter | Calculated change |
|---|---|---|---|
| Total net sales | 109,417 | 94,036 | 16% |
| iPhone | 54,252 | 44,582 | 22% |
| Services | 30,739 | 27,423 | 12% |
| iPad | 6,191 | 6,581 | -6% |
Reading the filings together
The 2025 Form 10-K reported annual net sales of $416,161 million, including $209,586 million from iPhone and $109,158 million from Services. Calculation: iPhone accounted for about 50% of annual net sales and Services about 26%. These annual shares describe the previous fiscal year, while the table above describes one subsequent quarter; the periods should not be treated as interchangeable.
Interpretation: the latest comparable quarter shows higher iPhone and Services revenue alongside lower iPad revenue. This is evidence of the reported mix, not a forecast, proof of unit demand, or an explanation of why customers bought. Apple's own filing discusses factors affecting sales; revenue alone cannot isolate pricing, product mix, currency or volumes.
Sources, method and limits
- Apple Form 10-Q, period ended 2026-06-27, accession 0000320193-26-000020, filed 2026-07-31: quarter-level product and Services sales.
- Apple Form 10-K, fiscal year ended 2025-09-27, accession 0000320193-25-000079, filed 2025-10-31: business description and annual sales mix.
Primary-source figures come from SEC-hosted Apple filings. Arqaris wrote the business explanation and analysis, transcribed the displayed figures, and calculated comparisons. Figures are historical and rounded in the prose; the table retains the filing's USD million units. This page covers selected revenue categories, not margins, cash flow, valuation, investment suitability, all risk factors or events after the stated filing cutoff. A later filing or correction may supersede this research. Read our methodology.