Apple has recorded sales increase in the first quarter of 2026, driven by unprecedented demand for iPhone and a resurgence in China.
The tech giant reported revenue of $143.8 billion, indicating a 16 percent growth while net profit surged to $42.1 billion up 19 percent in the same period last year.
Tim Cook, Apple’s CEO described the performance as a ‘monster quarter’ and ‘one for the record books,’ reflecting the company’s strongest-ever Q1 showing.
At the heart of Apple’s blockbuster quarter was the iPhone, which recorded its best sales performance in history generating $85.3 billion in revenue, indicating a 23 percent increase from last year.
Read also: Apple loses $56.8bn in market value after iPhone 17 unveiling
Strong global demand for the iPhone 17 lineup drove growth across all regions, with Apple setting all-time sales records in multiple markets.
One of the highlights of the quarter was Apple’s rebound in China. After struggling with declining demand and fierce competition from domestic smartphone brands, Apple reported a 38 percent year-on-year revenue jump in Greater China, marking its best-ever iPhone quarter in the region.
Tim Cook noted that rising consumer enthusiasm, growing store traffic, and strong upgrade cycles contributed to the sharp turnaround, reinforcing China’s importance as a strategic growth market for Apple.
India also continued its rapid ascent, delivering another record-breaking quarter, as Apple deepened its footprint in the world’s second-largest smartphone market.
The company posted strong double-digit growth in the country, underscoring India’s growing role in Apple’s global expansion strategy.
Apple’s fast-growing Services division, which includes the App Store, Apple Music, iCloud, and Apple TV+, generated a record $30 billion in revenue, reflecting strong user engagement across its expanding ecosystem.
However, the company acknowledged challenges in its Wearables segment, citing supply chain constraints and softer consumer demand.
Sales of Mac devices also declined slightly compared to last year, reflecting broader pressures in the global PC market.
Apple highlighted its evolving artificial intelligence strategy, revealing that its partnership with Google will play a key role in powering future AI-driven features across its products.
The company is increasingly positioning AI as central to its next phase of product innovation.
Executives cautioned that rising memory component prices and potential supply constraints could impact production capacity in coming quarters, especially amid sustained high demand for flagship devices.
