Apple 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 outlook for the June quarter
As part of today’s earnings conference call, Apple said it expects the company’s total revenue for the June quarter to increase between 14% and 17% year over year, reflecting what it described as its “best view of limited supply.”
This comment about “constrained supply” of course comes against the backdrop of the current global memory shortage, which has restricted the availability of key components such as DRAM and NAND, as demand for AI infrastructure continues to rise.
The company also noted that its forecast “assumes that global tariff rates, policies, and enforcement remain in effect as of this call. And the global macroeconomic outlook does not deteriorate from today.”
On the product side, Apple reported a “tough comparison” for the iPad, due to the A16-powered model launching in last year’s quarter.
For services, Apple said it expects annual growth at a similar pace to that reported for the March quarter, “after removing the favorable year-over-year impact of foreign exchange tailwinds.” Apple’s services revenue was $30.98 billion in the second quarter of 2026, an increase of 16% 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 Expenses) to be approximately $250 million, excluding any potential mark-to-market impact on minority investments. And our tax rate will be approximately 17%.”
Earlier today, Apple released its fiscal second quarter 2026 earnings report. The company reported revenue of $111.2 billion, a 17% year-over-year increase.
For the full breakdown of Apple’s results, follow this link.
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