GoKawiilApple today provided its guidance for the June quarter of fiscal 2026, outlining expectations for revenue growth, margins, and key business trends amid the ongoing memory shortage. Here are the details.
Apple’s June quarter outlook
As part of today’s earnings call, Apple said it expects the June quarter total company revenue to grow between 14% and 17% year over year, reflecting what it described as its “best view of constrained supply.”
That “constrained supply” comment comes, of course, against the ongoing global memory shortage, which has tightened availability of key components like DRAM and NAND as demand from AI infrastructure continues to surge.
The company also noted that its guidance “assumes that global tariff rates, policies, and their application remain in effect as of this call. And the global macroeconomic outlook does not worsen from today.”
On the product side, Apple flagged a “difficult compare” for the iPad, driven by the launch of the A16-powered model in the year-ago quarter.
For Services, Apple said it expects YoY growth to come in at a rate similar to what it reported in the March quarter, “after removing the favorable year-over-year impact from foreign exchange tailwinds.” Apple’s Services revenue came in at $30.98 billion for Q2 2026, a 16% jump year-over-year.
Apple also shared the following expectations for the June quarter:
“We expect gross margin to be between 47.5% and 48.5%. We expect operating expenses to be between $18.8 billion and $19.1 billion. We expect OI&E (Other income and expense) to be around $250 million, excluding any potential impact from the mark to market of minority investments. And our tax rate to be around 17%.”
Earlier today, Apple released its earnings report for the second fiscal quarter of 2026. The company reported $111.2 billion in revenue, a 17% increase year-over-year.
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