WASHINGTON, 1st May, 2026 (WAM) — Apple on Thursday forecast sales that beat expectations, even as it said it expected to continue to face chip supply constraints, sending shares up more than 3%.
Apple executives said they expect sales growth of 14% to 17% in the current fiscal third quarter, which was above Wall Street estimates of 9.5% growth to $102.93 billion, according to data from LSEG.
Apple reported better-than-expected second-quarter results, with customers showing eagerness to buy a new MacBook model, according to Reuters.
Apple said sales and profits were $111.18 billion and $2.01 per share for the fiscal second quarter ended March 28, above analyst expectations of $109.66 billion and $1.95 per share.
Sales of the iPhone, still the company’s best-selling product nearly 20 years after its introduction, were $56.99 billion, slightly less than estimates of $57.21 billion, according to LSEG data, after the biggest revamp of the lineup since the iPhone X in 2017.
Apple said Mac sales, which included several weeks of Neo sales, were $8.4 billion, compared with estimates of $8.02 billion.
Investors are waiting to hear more about Apple’s plans for Siri, its voice assistant that it plans to improve with Google technology.
Sales of iPads were $6.91 billion, compared with estimates of $6.66 billion, and wearables, which include the Apple Watch, accounted for $7.9 billion in revenue, compared with expectations of $7.7 billion.
Apple’s greater China sales were $20.5 billion, beating analyst estimates of $19.45 billion, according to Visible Alpha data.
Apple updated its capital return programme, saying its board has authorized an additional $100 billion in buybacks, the same as a year ago.
Source: Emirates News Agency