Apple supply constraints threaten iPhone, iPad and Mac Q3 revenue

Apple supply constraints tighten across iPhone, iPad and Mac

During the Q3 2026 earnings call, CEO Tim Cook signaled that Apple supply constraints will hit revenue more heavily than in prior quarters. He noted that demand for the iPhone and Mac has surged beyond forecasts, while the supply chain shows reduced flexibility on the advanced‑node processes that fabricate Apple‑designed chips.

“This isn’t a partner issue; it’s an unprecedented demand wave,” Cook told analysts.

Memory pricing pressure

Apple disclosed that it paid ↑ 12% more for memory in the June quarter versus March, and anticipates further increases in September. The company expects to offset some of the cost through carry‑in inventory and lower non‑memory component prices, yet ↓ 5% margin pressure remains likely.

Analysts at Reuters and Bloomberg warn that a three‑supplier DRAM market limits pricing leverage, and Apple is evaluating all options to secure capacity.

Despite the headwinds, Apple plans to unveil the iPhone 18 Pro, iPhone 18 Pro Max and its first foldable model in September, betting that the premium lineup will sustain demand.