Tech giant Apple reported record revenue of $109.4 billion in the June quarter, driven by strong performance in emerging markets including India and China. The company's revenue grew 16 percent year-on-year. This was the last earnings announcement by current CEO Tim Cook; John Ternes will take over as Apple's new CEO from September 1, 2026.

The company made a big jump in sales of iPhone and MacBook. While iPhone sales increased 21.7 percent to $54.25 billion, MacBook sales grew by a whopping 28.66 percent. At the same time, iPad sales fell 6 percent. Apple also saw a slight increase in sales of other accessories, including smartwatches.

Despite record revenue, officials warned that rising memory chip prices and supply disruptions will pose a major challenge for the company in the coming months. Apple has already increased the prices of MacBooks and iPads due to the increase in chip prices. Although iPhone prices are also likely to increase in the coming weeks, market experts believe that the products will continue to receive good demand in markets including India.