India Shines as Apple Posts Record September Quarter Under New CEO John Ternus
An all-time revenue record in India headlines a record-setting quarter for the iPhone maker
Apple’s latest results had a clear India angle. In the September 2026 quarter, the company’s first under new CEO John Ternus, India delivered an all-time revenue record while the company as a whole posted its best September quarter ever.
The headline numbers
Apple reported fiscal 2026 fourth-quarter revenue of $114.5 billion, up 12% year over year, for the quarter ended September 26, 2026. Net profit came in at $30.7 billion, and diluted earnings per share were $2.02, up 14%. For the full year, Apple recorded $478.8 billion in sales and $132.2 billion in net income, against previous records of $416.2 billion and $112.0 billion in fiscal 2025.
India’s big moment
Ternus told analysts that Apple set September quarter revenue records in both developed and emerging markets, along with an all-time record in India. Two product stories stand out:
- iPhone upgraders. CFO Kevan Parekh said the iPhone had a record year for upgraders globally and in several markets, including the US, China, India and Japan. YourStory also cited Worldpanel survey data ranking the iPhone among the top-selling smartphone models in India.
- Mac. Mac revenue was $10.8 billion, up 24% year over year, with all-time records in markets such as India and Southeast Asia, helped by the MacBook Neo and MacBook Pro.
Not all smooth sailing
The quarter had soft spots. iPad revenue fell 10% to $6.2 billion, partly because of supply constraints, and Wearables, Home and Accessories declined 8% to $8.3 billion. YourStory’s coverage also noted the results came despite unprecedented memory cost inflation.
Why India matters for Apple
India is now one of the few markets where Apple is posting records alongside its home market. That reflects years of groundwork: expanding retail, local assembly, and a growing base of users upgrading from older phones. The Mac record also suggests Apple’s India story is broadening beyond the iPhone.
What to watch next
- How the holiday quarter performs in India, which is typically festive-season heavy.
- Whether supply constraints on iPad and Mac ease.
- How Ternus balances memory cost pressure with pricing in price-sensitive markets like India.
Note: Apple’s India figures are described in terms of records rather than dollar amounts, since the company doesn’t break out country revenue.
Add Business Connect magazine to your Google News feed