# Apple reported $111.2 billion of revenue in the three months to the end of March.

*semiconductor · news · 2026-05-02 · Telegraph India*

## Key points

- Apple reported $111.2 billion revenue for Q1, exceeding Wall Street estimates with 17% year-on-year growth.
- Tim Cook highlighted India as a 'huge opportunity,' noting most Apple buyers there are first-time users.
- Apple expects 'significantly higher memory costs' in the June quarter due to a global memory crunch.
- Processor shortages, not memory chips, are primarily affecting Apple's Mac Mini and Mac Studio availability.
- Apple could seek refunds on Trump-era levies and plans to reinvest them in US innovation and manufacturing.

**Companies:** Apple
**Countries:** India, China, United States

[Read the full story on Telegraph India](https://www.telegraphindia.com/business/apple-seeds-growth-in-india-as-revenue-jumps-17-tim-cook-flags-huge-opportunity-prnt/cid/2158675)

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