Also hitting shelves this quarter was the Apple Watch Series 12 and Ultra 4, but those didn’t have nearly as big of an impact. Sales in the Wearable, Home, and Accessories category were down about 8 percent year-over-year despite the new products. Also down was iPad revenue, which posted an 11 percent decline. The new OLED iPad mini could help stabilize things in the fourth quarter, but the rest of the iPad lineup isn’t expected to get an update until 2027.
The opposite is true for the Mac. Buoyed by the launch of the M6 Mac mini and M5 Ultra Mac Studio, Apple posted a strong 25 percent increase year-over-year with earnings of $10.8 billion. Ternus said that Apple has, “never sold more Macs in a fiscal year.” That bodes well for the holiday quarter, when the new M6 iMac and MacBook Pro, as well as the new PROLED XDR MacBook arrive.
Finally, Apple’s Services category continues to grow. For the first time, Apple topped $30 billion in revenue for Services on growth of around 10 percent.
Apple is holding a conference call at 5 pm ET to discuss the results and the road ahead for its fiscal 2027, so stay tuned for updates.