Apple’s iPhone revenue jumps to $57 billion despite chip shortages

Apple’s iPhone revenue jumped 22 percent to $57 billion over the past few months, despite supply chain issues impacting the device’s processor. During an interview with Reuters , Apple CEO Tim Cook said iPhone “demand was off the charts” but added that there’s “a little less flexibility in the supply chain at the moment for getting more parts.” Apple earned $111.2 billion in revenue during the second quarter of 2026, its “best March quarter ever,” according to Cook. …