In the third quarter of 2026, Apple experienced a significant surge in demand for its iPhone and MacBook product lines, leading to record revenues. During his final earnings call, outgoing CEO Tim Cook reported that iPhone sales increased by 22% to $54 billion, while Mac sales reached $10 billion, largely driven by the popularity of the entry-level MacBook Neo. The company also reported $6 billion in iPad sales, nearly $8 billion from wearables, home and accessories, and $31 billion from services, culminating in approximately $109 billion in net sales and nearly $30 billion in net income for the quarter. Cook expressed optimism about the company's performance but acknowledged concerns regarding future pricing due to a global memory shortage. He explained that Apple had raised prices on many products in June as a response to the ongoing RAM shortage, which has been exacerbated by the high memory demands of AI tools and products. As supply chain constraints on memory chips continue, many questions during the call focused on price uncertainty and product availability, with Cook indicating that a price hike could be forthcoming. He characterized the current situation as a '100-year flood' in memory pricing, suggesting that the upward trend in memory costs is likely to persist in the coming months. Cook emphasized that Apple is considering the long-term implications of these challenges rather than just short-term results. He expressed confidence in the company's future leadership, praising incoming CEO John Ternus, who is set to take over on September 1, 2026.