Apple reported a record-breaking March quarter with $111.2 billion in revenue, representing 17% year-over-year growth, driven by strong iPhone and services performance. Tim Cook announced his transition to Executive Chairman effective September 1st, with John Ternus set to become CEO. Despite supply constraints affecting Mac and iPhone production, the company achieved double-digit growth across all geographic segments, including significant gains in India and Greater China. Apple’s services division reached an all-time revenue high of $31 billion, bolstered by record-high active device installations exceeding 2.5 billion. The board authorized an additional $100 billion for share repurchases and increased the dividend by 4%. Future investments remain heavily focused on AI integration across the product stack, with R&D spending accelerating to support long-term innovation and infrastructure development.
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