Apple Posts $111.2B Quarter, iPhone Sales Soar 22% Despite Supply Limits
AAPL•Apple posted quarterly revenue of $111.2 billion, a 17% year-over-year increase, driven by record iPhone sales of $57 billion, up 22%. Company forecasts June-quarter revenue growth of 14–17% despite supply constraints and warns that significantly higher memory costs will pressure margins.
1. Record-Breaking Quarterly Performance
The company delivered revenue of $111.2 billion in the quarter, a 17% increase year-over-year, with iPhone sales reaching $57 billion, up 22%, marking the most popular lineup through the March quarter.
2. Supply Constraints and Growth Outlook
Management noted that supply shortages prevented additional sales and conservatively guided June-quarter revenue to grow 14–17% year-over-year while factoring in these constraints, signaling untapped demand if production ramps up.
3. Rising Memory Costs and Margin Risks
Memory component costs are expected to rise significantly in the June quarter and beyond, which could compress gross margins from the current three-year peak of 32.6%, making upcoming margin guidance a critical indicator.
