AAPL · Earnings call · 2026Q2T · Full report

Supply Chain Constraints

Apple Inc. · 2026-07-30 · Importance 44 · Surprise 42 · In source text

Apple said fiscal Q3 supply constraints were driven primarily by limited availability of advanced semiconductor nodes used for its system-on-chip products. Constraints affected Mac most heavily in June, with lesser effects on iPhone and iPad, and are expected to increase significantly in September across iPhone, Mac, and iPad. September-quarter revenue is guided to grow 9% to 11% year over year, reflecting supply constraints and a 2.5-percentage-point sequential foreign-exchange headwind. Apple expects to pay even higher memory costs in September, partly offset by carry-in inventory and lower costs for certain non-memory components.

Key facts

• Expect supply constraints to increase significantly sequentially in the September quarter affecting iPhone, Mac, and iPad
• Tim Cook said they're seeing less flexibility in the supply chain than normal and are 'scrambling' on the supply side for the coming quarter
• Apple experienced supply constraints in the June quarter primarily on Mac and to a lesser extent on iPhone and iPad driven by availability of advanced nodes for SoCs

Impact estimates