AAPL · 10-Q · 2026Q2 · Full report
Gross Margin Drivers
Apple Inc. · 2026-07-31 · Importance 73 · Surprise 66 · In source text
Total gross margin was $54,770 million for Q3 2026 versus $43,718 million in Q3 2025, and total gross margin percentage rose to 50.1% from 46.5% Y/Y for the quarter. Products gross margin increased to $31,525 million (40.1% margin) in Q3 2026, driven primarily by a different mix of products and tariff refunds, partially offset by higher costs including memory. Services gross margin was $23,245 million (75.6%), with YTD Services gross margin percentage improving to 76.3% from 75.5% due to a different mix of services partially offset by higher costs. Management warns future gross margins may face downward pressure from supply constraints and higher component costs such as advanced semiconductors and memory.
Key facts
- Total gross margin: $54,770 million for the three months ended June 27, 2026; total gross margin percentage: 50.1%. source
Impact estimates
| metric | direction | stage | expected | basis |
|---|---|---|---|---|
| margin | positive | realized | — | Total gross margin: $54,770 million for the three months ended June 27, 2026; total gross margin percentage: 50.1%. |