Apple beats revenue estimates on strong Mac sales
Apple reported second-quarter revenue of 111.18 billion dollars as strong Mac and services sales helped offset chip supply constraints for the iPhone 17 lineup.
APPLE INC reported fiscal second-quarter revenue of $111.18 billion and EPS of $2.01, beating LSEG estimates of $109.66 billion and $1.95. The results reflect a 1.4% revenue beat driven by Mac sales, despite iPhone revenue of $56.99 billion narrowly missing $57.21 billion projections. Investors are assessing Apple's ability to navigate supply constraints as John Ternus prepares to take the CEO role in September.
### Supply Constraints Cap iPhone Growth CEO Tim Cook said iPhone sales were limited by supply constraints for processor chips. These components use the same Taiwan Semiconductor Manufacturing Co technology found in leading AI chips.
