Apple cannot make the iPhone Duo fast enough, and its chief executive says he cannot say when that will change. John Ternus made the admission in his first earnings week as CEO, after Apple reported a record September quarter.
An order for the folding phone placed on 2 November shows a January delivery estimate, and store stock for online reservations has been thin. None of that is in the results yet, because the Duo went on sale after the quarter ended on 26 September.
What Ternus said about supply and the screen
In an interview after the results, quoted by MacRumors, Ternus described the Duo as constrained today. Production is ramping well, he said, but he could not forecast when supply would catch up with orders. He also addressed the inner-display problem some owners have hit, saying only a very small percentage of units have come back and that Apple is offering replacements. Apple said last week it knew of the issue and asked affected customers to contact AppleCare.
The quarter in numbers
In its earnings release, Apple put revenue for the fiscal fourth quarter at $114.5 billion, up 12% on a year earlier. Diluted earnings per share were $2.10, up 14%, and gross margin was 47.9%, which includes roughly one percentage point from tariff refunds. Total revenue, iPhone revenue and earnings per share all set September-quarter records, Apple says, while Services hit a new all-time high.
For the whole of fiscal 2026 Apple reports record revenue of $479 billion. It generated $28 billion in operating cash flow in the quarter and returned $28 billion to shareholders. The board declared a dividend of $0.27 a share, payable on 16 November to holders of record on 12 November.
Ternus credited the iPhone Duo, the iPhone 18 Pro and iPhone 18 Pro Max, new home hardware, Touch on the Mac and the new Siri for what he called Apple’s most ambitious lineup yet heading into the holidays. The iPhone figures also cover a quarter in which Apple released no standard iPhone model.
With the iPhone Duo still short of supply, the next earnings report in the new year will be the first to show how many it sold.
