Tim Cook, the outgoing CEO of Apple, expressed his enthusiasm for the Indian market during a recent investor call, highlighting that sales of the iPhone, iPad, and Mac have grown in double digits. Despite this success, Apple maintains a modest market share in India, the second-largest smartphone market and third-largest PC market globally. Cook emphasized the opportunity presented by India's expanding middle class, noting that many customers are new to Apple's products, which bodes well for future growth.

Apple recently opened its sixth retail store in India and is witnessing strong enterprise adoption, with Indian software company Freshworks deploying over 5,000 MacBooks. Cook will transition to the role of executive chairman on September 1, 2026, with John Ternus, the current senior vice president of hardware engineering, stepping in as the new CEO. Cook praised Ternus as a capable leader who will maintain the company's disciplined financial decision-making.

However, Apple is facing supply shortages, particularly for iPhones and Macs, due to constraints in advanced manufacturing nodes. Rising memory costs are also affecting the company's financial outlook, although Apple reported a gross margin of 49.3%, up from 47.1% in the same quarter last year. Analysts believe that Apple's favorable product mix and high average selling prices have helped offset these rising costs.