Apple’s iPhone and Mac sales are on the rise even as a global memory shortage squeezes device makers. In its third-quarter earnings report released on Thursday, Apple revealed that iPhone sales jumped 22 percent to $54.25 billion and Mac sales increased 29 percent to $10.35 billion, driving the company’s overall revenue to $109.4 billion.

Apple’s iPhone and Mac sales keep growing despite RAM shortages

iPhone sales jumped 22 percent to $54.25 billion.

iPhone sales jumped 22 percent to $54.25 billion.

This marks Apple’s best third-quarter iPhone revenue, as sales tend to dip ahead of its next major launch event, as noted by Reuters. During an interview with CNBC, Apple CEO Tim Cook attributes the increase in sales to people who were upgrading their iPhones throughout the quarter. “We just had significant momentum on the iPhone really since the launch.”

Apple raised prices across its Macs, iPads, and other devices in June as it contends with a RAM shortage expected to last until 2027 and beyond. The move also included a price hike for the company’s new MacBook Neo, which now costs $699 instead of $599. Since its debut in March, the Neo disrupted the affordable laptop market with its lightweight form factor and speedy performance.

Apple hasn’t raised the prices of its iPhones yet, but analysts predict that the iPhone 18 could cost up to $200 when the lineup launches this fall. Apple is planning to widely release its more personalized Siri AI alongside the iPhone 18, allowing its assistant to answer questions about what’s on your screen, search across apps, and perform tasks, like adding events to your calendar.

It’s the company’s last earnings report with Cook at the helm. Cook is set to step down on September 1st, with John Ternus, Apple’s vice president of hardware engineering, taking his place.

This week, Apple also announced a new Upgrade program that will let you lease an iPhone, iPad, Apple Watch, or Mac for a set monthly price.

Developing…

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