David Page wrote about the mountains and worked to protect them



Apple’s iPhone captured its highest-ever second-quarter global smartphone revenue share of 49% in Q2 2026, according to Counterpoint Research’s latest Market Monitor data. The company’s smartphone revenue rose 22% year-over-year, fueled by a 13% increase in shipments and an 8% rise in average selling price (ASP), even as the broader market saw volumes decline.
Global smartphone revenue grew 7% YoY to a record $109 billion for any second quarter, despite a shipment slump. The disconnect was driven by a 17% jump in industry ASP to a Q2 record of $400, reflecting a sustained shift toward premium devices and memory-related price increases across most Android manufacturers.
Apple’s performance stood out because it largely avoided the steep price hikes that competitors implemented to offset rising bill-of-materials costs from the ongoing memory shortage. Research Director Tarun Pathak noted that growth was led by sustained demand for the iPhone 17 lineup—particularly the base iPhone 17 and iPhone 17 Pro Max—which kept the brand’s mix skewed toward premium models. “Unlike peers that pushed through steep price increases, Apple kept pricing largely stable, reflecting its ability to absorb rising BOM costs and remain insulated from the memory crisis,” Pathak said. He added that Apple will likely raise prices in coming quarters.
This pricing discipline strengthened Apple’s competitive position, enabling simultaneous gains in both volume and value while much of the market contracted. Senior Analyst Shilpi Jain observed that the industry has entered a phase where value, rather than pure shipment volume, is the primary growth lever. Rising component costs have accelerated a shift away from entry-level volume strategies toward higher-storage configurations, premium models, and financing options such as installment plans and trade-ins, especially in emerging markets.
Samsung ranked second with a 16% revenue share. Its revenue and shipments each rose 9% YoY, supported by strength in North America and the Middle East & Africa, though its ASP remained relatively flat. Xiaomi posted the steepest shipment decline among the top five brands at 26% YoY; revenue fell 17% despite a 13% ASP increase. OPPO and vivo revenues declined 10% and 11% respectively, even with ASP gains of 9% and 13%.
MacDailyNews Take: The iPhone 17 family’s continued strength allowed Apple to expand its revenue dominance in a market where premiumization and higher prices are offsetting weaker unit volumes. With memory constraints expected to persist, Apple’s ability to maintain demand without aggressive price increases positioned it as the clear standout in Q2 2026 revenue share.
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Apple today announced financial results for its fiscal 2026 third quarter ended June 27, 2026. The company posted quarterly revenue of $109.4 billion, up 16 percent year over year. Company gross margin was 50.1 percent, including a favorable impact of approximately 2 percentage points from tariff refunds. Diluted earnings per share was $2.02, up 29 percent year over year, and included a favorable impact of $0.11 from tariff refunds.
“Today, Apple is proud to report our strongest June quarter ever, with double-digit revenue growth across iPhone, Mac and Services, and in every geographic segment,” said Tim Cook, Apple’s CEO, in a statement. “At WWDC26, we were thrilled to introduce the all-new Siri AI, alongside all of Apple’s latest software innovations and important new child safety features.”
“We are very pleased with our record business performance during the quarter, which set new June quarter records for both EPS and operating cash flow,” said Kevan Parekh, Apple’s CFO, in a statement. “Our installed base of active devices also reached a new all-time high across all major product categories and geographic segments.”
Net sales by category:
• iPhone: $54.252 billion (vs. $44.582 billion YoY)
• Mac: $10.352 billion (vs. $8.046 billion YoY)
• iPad: $6.191 billion (vs. $6.581 billion YoY)
• Wearables, Home, and Accessories: $7.883 billion (vs. $7.404 billion YoY)
• Services: $30.739 billion (vs. $27.423 billion YoY)
Apple’s board of directors has declared a cash dividend of $0.27 per share of the Company’s common stock. The dividend is payable on August 13, 2026, to shareholders of record as of the close of business on August 10, 2026.
Apple will provide live streaming of its Q3 2026 financial results conference call beginning at 2:00 p.m. PT on July 30, 2026, at apple.com/investor/earnings-call. The webcast will be available for replay for approximately two weeks thereafter.
Wall Street was looking for solid double-digit growth. Consensus forecasts (drawn from roughly 27–31 analysts) called for:
• Revenue of approximately $108.9 billion, up about 16% from $94.0 billion a year earlier.
• Diluted EPS of $1.89, up roughly 20% from $1.57 in the year-ago quarter.
MacDailyNews Take: A strong quarter, but the bears will say that Services delivered $30.7 billion versus projections of $31.3 billion and Greater China revenue was $18.8 billion, short of analyst estimates of $19.5 billion.
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Apple’s second-generation AirTag is currently available at its lowest price ever: $89 for a four-pack, down from the usual $99. The deal matches the previous all-time low first spotted during Amazon’s Prime Day event and remains one of the strongest discounts on the newer model.
A single AirTag 2 is also discounted to $27 (from $29). While that price isn’t quite as aggressive as some earlier promotions, it still ranks among the better current offers for buyers who only need one unit.
The AirTag 2 is a compact Bluetooth tracker that helps users locate everyday items like keys, wallets, bags, or luggage through Apple’s Find My network, showing the last known location on a map and enabling Lost Mode to lock the tag and display a custom contact message via NFC when found by someone else.
AirTag 2 offers Precision Finding with a second-generation Ultra Wideband chip that provides directional arrows, distance readouts, and haptic/audio cues from up to 50% farther away (on compatible iPhone 15 or later models, excluding certain variants), plus the first-time ability to use this feature on Apple Watch Series 9 or later and Ultra 2 or later; an upgraded Bluetooth chip for expanded proximity range; a 50% louder speaker with a distinctive new chime that can be heard from twice as far; “Left Behind” alerts; sharing location access with family or friends; temporary secure sharing with airlines for luggage recovery; a user-replaceable CR2032 battery lasting over a year; IP67 water and dust resistance; and built-in privacy protections including frequent Bluetooth ID rotation and end-to-end encryption so only the owner can access location data.
MacDailyNews Take: Get ’em while they last here.
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Despite heavy – and rather ill-timed – selling that reduced Berkshire Hathaway’s Apple position and sparked talk of a shift under new CEO Greg Abel, the tech giant remains the conglomerate’s largest equity holding by far. At roughly 228 million shares worth about $60 billion (around 22% of the stock portfolio), Apple continues to deliver dividends, massive unrealized gains, and a subtle ownership boost from the company’s relentless share buybacks—showing the trim was about risk management, not a loss of conviction.
Micah Zimmerman for The Motley Fool:
Berkshire also sits on an enormous unrealized gain, since Berkshire’s cost basis is a fraction of today’s price, and the shares throws off a steady stream of dividends every year. Whatever the trimming implied, Apple is not a relic in this portfolio. It is the foundation.
Here’s the part that caught my eye. Apple spends tens of billions of dollars a year buying back its own stock, steadily shrinking the number of shares in circulation. That matters for Berkshire in a subtle but powerful way. Because the total share count keeps falling, Berkshire’s ownership percentage of Apple slowly rises even though it hasn’t bought a single new share. Its claim on Apple’s future profits quietly grows on autopilot.
Buffett has praised exactly this dynamic for years, calling it one of the reasons he loved the investment. He once compared it to your ownership of a business rising simply because your partners keep buying each other out. It means Apple keeps working for Berkshire in the background, compounding its stake without any action at all.
It is tempting to read the share sales as Berkshire’s loss of faith. I would read them differently. Apple’s position had grown so large that, at one point, it was worth more than everything else in the equity portfolio combined, a level of concentration that made even [Warren] Buffett uncomfortable. Trimming was about managing risk and locking in enormous gains at a rich valuation, not abandoning the thesis. Choosing to keep roughly $60 billion in Apple, rather than exiting entirely, is a statement of enduring conviction under Abel, not a goodbye.
MacDailyNews Take: The two most beautiful words in the English language: passive income.
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