Apple reported fiscal third-quarter 2026 revenue of $109.4 billion on July 30, up 16% from a year earlier, in Tim Cook's final earnings report as chief executive before John Ternus takes over on September 1. Diluted earnings per share rose 29% year-over-year to $2.02. The iPhone led results with revenue of $54.3 billion, up 22%, while Services revenue increased 12% to $30.7 billion. Mac revenue rose 29% to $10.35 billion, while iPad revenue fell 5.9% to $6.19 billion. Apple's active installed base now exceeds 2.5 billion devices worldwide. Cook, who spent 15 years as chief executive, will become executive chairman, while Ternus, currently Apple's hardware engineering leader, assumes the top role. Apple forecast September-quarter revenue growth of 9% to 11%, below analyst expectations, citing advanced-chip supply constraints and foreign exchange headwinds. Shares declined after the report. The company is not signaling a collapse in demand, but production capacity for its most advanced products may be more constrained than expected in the near term. Apple designs its own silicon but depends on third-party foundries for manufacturing, and generates a large share of revenue outside the United States, making its international earnings vulnerable to a stronger dollar.