Trending Now - Apple's CEO Transition Amid Strong Sales and High Hopes
WHO:
CNN - Tim Cook is the current CEO of Apple.
CNN - John Ternus is the head of hardware engineering at Apple and will become CEO in September.
ABC News - Cook has been CEO for 15 years, succeeding the late Steve Jobs.
WHAT:
CNN - Apple reported that it achieved its "best March quarter ever" with $111.2 billion in revenue.
CNN - iPhone revenue hit $57 billion, which is up 22% compared to a year ago.
ABC News - Cook stated that the iPhone achieved a March quarter revenue record, fueled by "such extraordinary demand" for the iPhone 17 lineup.
CNN - Apple expects to see supply constraints in the June quarter due to increased AI-driven demand for the Mac Mini and Mac Studio.
CNN - Computer makers are grappling with memory shortages driven by AI data center demand, pushing global smartphone shipments down 4.1% in the first quarter.
ABC News - Ternus stated, "This is the most exciting time in my 25 year career at Apple to be building products and services."
CNN - Apple reported that iPhone revenue hit $57 billion, roughly in line with analyst estimates and up 22% compared to a year ago.
ABC News - Apple’s revenue rose about 17% to $111.18 billion from $95.36 billion a year earlier.
ABC News - Cook stated that the company experienced "double-digit growth across every geographic segment."
CNN - Apple expects to see supply constraints in the June quarter due to increased AI-driven demand for the Mac Mini and Mac Studio.
CNN - Supply constraints impacted the iPhone and Mac during the March quarter, with the Mac expected to be more heavily affected in the June quarter.
TechCrunch - Cook warned that Apple is facing supply-chain headwinds from RAMageddon that could impact its business.
CNN - Apple reported second-quarter earnings of $111.2 billion, a 17% increase compared to the previous year.
ABC News - Apple earned $29.58 billion, or $2.01 per share, in the January-March period, up about 22% from the same period a year earlier.
ABC News - iPhone revenue was $56.99 billion, contributing significantly to the overall revenue.
CNN - Apple’s iPhone revenue increased by 22% compared to a year ago.
ABC News - Analysts had forecast earnings of $1.95 per share on revenue of $109.46 billion.
CNN - Apple plans to announce AI advancements at the Worldwide Developer Conference in June.
ABC News - Apple introduced the iPhone 17e and the MacBook Neo in March.
WHERE:
ABC News - Apple is headquartered in Cupertino, California.
WHEN:
ABC News - John Ternus will assume the role of CEO on September 1.
CNN - The Worldwide Developer Conference is scheduled for June.
WHY:
CNN - The transition in leadership comes amid strong sales and high expectations for future growth, particularly in AI.
HOW:
CNN - Cook advised Ternus that where he spends his time will be one of his most important decisions as CEO.
CNN - Ternus outlined his approach as CEO, emphasizing the importance of "deep thoughtfulness, deliberateness and discipline" in financial decision-making.
CNN - Ternus plans to continue Cook's approach of thoughtfulness, deliberateness, and discipline in financial decision-making.
(UPDATED May 2, 2026 01:23 UTC)
Apple has announced its "best March quarter ever," achieving an impressive $111.2 billion in revenue, with iPhone sales alone reaching $57 billion, a 22% increase from last year. CEO Tim Cook highlighted the extraordinary demand for the iPhone 17 lineup as a key factor in this record-breaking performance, while also noting that the company anticipates supply constraints in the upcoming June quarter due to rising AI-driven demand for products like the Mac Mini and Mac Studio. In a statement reflecting on the current landscape, Apple executive Ternus expressed that this is the most exciting time in his 25-year career at the company for building innovative products and services.
--
(UPDATED May 1, 2026 23:15 UTC)
Apple has reported impressive financial results, with iPhone revenue reaching $57 billion, which is a 22% increase compared to last year and aligns with analyst expectations. Overall, the company's revenue rose to $111.18 billion, up from $95.36 billion a year earlier, and CEO Tim Cook noted that they experienced double-digit growth across every geographic segment. However, Cook also warned of potential supply constraints in the upcoming June quarter, driven by increased demand for products like the Mac Mini and Mac Studio, as well as ongoing supply-chain challenges.
--
(UPDATED May 1, 2026 16:59 UTC)
Apple has reported impressive second-quarter earnings of $111.2 billion, marking a 17% increase from the previous year, with iPhone revenue alone contributing $56.99 billion and rising by 22%. Tim Cook, who has served as CEO for 15 years, will be succeeded by John Ternus on September 1, as the company prepares to unveil advancements in artificial intelligence at the Worldwide Developer Conference in June. Ternus aims to maintain Cook's thoughtful and disciplined approach to financial decision-making as the company continues to experience strong sales and growth expectations.