Apple Calls iPhone 17 Its Most Popular Lineup After Record Quarter

Executives warned that chip and memory shortages are limiting supply.

Overview

Apple reported $111.2 billion in revenue and $29.6 billion in profit for the quarter, with results led by iPhone sales.
Chief financial officer Kevan Parekh said the iPhone 17 family is the most popular in the company’s history and that Apple gained market share.
Chief executive Tim Cook said iPhone demand was “off the charts” but noted supply remains constrained.
Apple said shortages of A19 and A19 Pro chips from TSMC held back shipments because TSMC is also prioritizing fast-growing AI chip orders.
Parekh said memory supply tightened from the first to the second quarter, and reporting says this could affect the iPhone 18 launch that is expected to add Apple’s first foldable.