Apple to report $89.34B revenue, avoiding tariff hit
Apple is set to report Q3 revenue of about $89.34 billion, aligning with Wall Street's forecasts even as it faces tariffs and slow progress in AI.
The company's quick supply chain moves and booming services business are keeping investors interested.
Despite a tough environment—including the threat of a steep 25% US tariff on imported iPhones and delays in new AI features—Apple continues to navigate challenges.
iPhone production shift to India
To deal with the US tariff, Apple shifted much of its iPhone production for America to India, leading to a huge 240% jump in Indian-made phones last quarter.
This helped keep tariff costs well below the $900 million it had estimated in May.
Even with ongoing US-China tensions, iPhone sales are still expected to rise by 2.2%, thanks mostly to strong demand and promotions in China.
Services driving growth
While Apple trails rivals in rolling out flashy AI upgrades (Siri's big update isn't coming until 2026), its services like the App Store, Apple Music, and subscriptions are on fire—expected to jump 10.7% this quarter alone.
For now, these digital offerings are driving growth way beyond just selling devices.