Apple Q3 Revenue Hits $109.4B as Foldable iPhone Era Beckons

Apple's third-quarter revenue reached $109.4 billion, a 16% increase year-over-year, with a gross margin of 50.1%. This includes a 2-percentage-point boost from tariff refunds.

In the lead-up to Apple's September 9 product event, investors are eagerly anticipating a refreshed iPhone lineup and potential foldable iPhone debut. GuruFocus notes that AAPL rose around 1.5% ahead of the event.

John Ternus became CEO on September 1, replacing another leader in the company. Meanwhile, Apple is pushing for higher-priced iPhone Pro upgrades in emerging markets like India, where the Pro penetration rate is low. The strategy focuses on trade-ins, financing, and a greater Pro mix to boost revenue.

According to IDC forecasts, Apple will ship over 17 million foldable iPhones in 2027, accounting for about 40% of global foldable shipments, which could create over $45.7 billion in market value.