Apple today announced its expectations regarding revenue growth, margins, and significant business trends in the context of the ongoing memory shortage for the June quarter of the 2026 fiscal year. Here are the details.

Apple's June Quarter Expectations

In today's earnings call, Apple stated that it expects total company revenue for the June quarter to grow between 14% and 17% year-over-year, describing this as "our best view for limited supply."

This "limited supply" statement corresponds, of course, to the ongoing global memory shortage, which has tightened the availability of key components such as DRAM and NAND due to increased demand from AI infrastructure.

The company also mentioned, "We assume that global tariff rates, policies, and their implementation remain valid as of this call. And we expect the global macroeconomic outlook not to worsen from today."

On the product side, Apple noted that there is a "challenging comparison" for the iPad due to the launch of the A16-supported model in the same quarter a year ago.

For Services, Apple expects growth to occur at a similar pace to the rate reported in the March quarter, excluding the positive year-over-year impact of exchange rates. Apple's Services revenue was recorded at $30.98 billion in the second quarter of 2026, representing a 16% increase year-over-year.

Apple also shared the following expectations for the June quarter:

“We expect our gross margin to be between 47.5% and 48.5%. We expect our operating expenses to be between $18.8 billion and $19.1 billion. We expect other income and expense (OI&E) to be around $250 million, excluding the potential impact of adjusting minority investments to market value. And we expect our tax rate to be around 17%.”

Earlier today, Apple released its earnings report for the second quarter of the 2026 fiscal year. The company reported $111.2 billion in revenue, which represents a 17% increase year-over-year.

Follow this link for the full breakdown of Apple's earnings results.