Apple Reports Record iPhone Sales as Tim Cook Prepares to Step Down as CEO

Apple sold more iPhones than ever last quarter — $54.25 billion worth, up 22 percent from a year earlier. Total revenue hit $109.4 billion. Mac sales rose 29 percent to $10.35 billion. Tim Cook, who said customers kept upgrading phones all quarter, is leaving the CEO role. Hardware chief John Ternus replaces him September 1, 2026.