Apple Inc. delivered a rocking performance in its fiscal first quarter of 2026, reporting record-breaking revenue as demand for its flagship iPhone 17 lineup surged, easing investor concerns about competitive pressure in the artificial intelligence space. The technology giant reported total revenue of approximately $143.8 billion, up roughly 16 percent year-over-year, and earnings per share that topped analyst forecasts — with iPhone revenue alone contributing more than $85 billion.
CEO Tim Cook highlighted “staggering” demand for the iPhone 17 models during the holiday quarter, saying strong sales especially in markets like Greater China helped fuel the company’s overall growth. In China, Apple saw sales jump sharply, with revenue in the region up nearly 38 percent as both upgraders and switchers moved to Apple devices.
Despite lagging behind rivals in certain artificial intelligence benchmarks, Apple is doubling down on its AI strategy. The company announced it will integrate Google’s Gemini AI model into its revamped Siri assistant and broader Apple Intelligence platform later this year, a partnership executives say will accelerate smarter, more personalized features across devices. Apple also recently acquired Israeli AI startup Q.ai in a multi-billion-dollar deal aimed at strengthening its machine learning capabilities for future hardware and services.
Other segments produced mixed results: services revenue climbed, while Mac and wearables sales experienced modest declines. Apple forecast continued revenue growth for the current quarter, bolstered by anticipated ongoing demand for its key products.
Overall, the strong iPhone performance and expanding AI investments signal Apple’s intention to maintain its leadership in both consumer hardware and next-generation software experiences.
