Following today's quarterly results, Apple CFO Kevan Parekh made a statement that is likely to go down in Apple's history books: The iPhone 17 family is the most popular iPhone lineup Apple has ever had. At the same time, Parekh acknowledges that the global storage shortage is increasingly taking its toll – and this could also affect the iPhone 18.
It's not often that Apple's usually reserved CFO uses historical superlatives. But that's exactly what happened today. In an interview with the Financial Times following the Q2 2026 results, Kevan Parekh took stock – and placed the iPhone's success in a historical context. While Tim Cook tells the story of the "off the charts" demand, Parekh provides the structural context: Apple is actively gaining market share in the smartphone market.
The central message
Parekh told the Financial Times: "The iPhone 17 family is now the most popular lineup in our history… we believe we gained market share during the quarter." This is remarkable for two reasons. First, it puts the current iPhone generation ahead of all its predecessors – including the historically strong iPhone 12 and iPhone 15 cycles. Second – and this is the more relevant point for investors – gaining market share means that Apple is not just benefiting from the organic growth of the smartphone market, but is actively taking customers away from competitors.
Apple has not officially reported unit sales figures since 2018. Parekh's statement is therefore likely based on a combination of revenue, internal sell-through data, and external market research figures.
The iPhone 17 family in detail
The current model family includes five models, meaning there are more iPhones at once than ever before:
- iPhone 17
- iPhone 17 Pro
- iPhone 17 Pro Max
- iPhone 17e
- iPhone Air
This is the broadest lineup Apple has ever had in the market in a single model year. The success is apparently spread across several models: According to Cook, the iPhone 17 Pro scores points with its new aluminum chassis and striking Cosmic Orange color option, the standard iPhone 17 has received true Pro features for the first time thanks to ProMotion and an always-on display, and the iPhone 17e caters to the budget-conscious entry-level market. Even the iPhone Air, which wasn't initially considered a high-volume model, contributes to the overall picture.
Memory becomes a real problem
Parekh also brought a second, less optimistic message: Storage cost pressures intensified significantly between the first and second quarters of fiscal year 2026. He spoke of an "increasing impact" - a growing influence on Apple's margins.
The reason is well-known: Hyperscalers like Google, Microsoft, OpenAI, and Anthropic are buying DRAM and high-bandwidth memory worldwide at a rate that is drastically reducing available supplies. At the same time, TSMC's production of the A19 and A19 Pro chips, which power the iPhone 17 family, is operating at full capacity – here, too, Apple is competing with the AI industry for the same resources. The combination of these factors means that Apple cannot supply iPhones as quickly as the market demands.
What this could mean for the iPhone 18
Parekh's memory-related remark is particularly interesting in light of the upcoming iPhone lineup. In the fall of 2026, Apple will unveil the iPhone 18 Pro, iPhone 18 Pro Max, and the first foldable iPhone, while the standard version of the iPhone 18 is expected to follow in early 2027. This is precisely where the global memory shortage could have concrete consequences: Apple plans to increase the RAM in both the iPhone 18 Pro and the standard version from 8 to 12 GB – more storage per device coupled with rising market prices. This is a combination that even Apple is struggling with.
Parekh didn't explicitly say today that the iPhone 18 would be affected – but the implication was unmistakable. Apple will likely have to manage the pressure through a combination of long-term supply contracts, inventory strategy, and possibly price adjustments.
Cook's and Parekh's double message
Taken together, Cook and Parekh's statements paint a clear picture: Apple's iPhone business is stronger than ever – but current growth is limited not by demand, but by the supply chain. This is an unusual finding for shareholders. In the past, demand was the more volatile factor. Now it seems to be the other way around: Apple has customers who are waiting – and must ramp up production without sacrificing margins.
iPhone brand stronger than ever
The fact that the iPhone 17 family is historically the strongest lineup has strategic significance beyond mere sales figures. Apple is gaining market share in a year precisely when the competition is applying pressure with its own AI features, foldable devices, and aggressive pricing strategies. This success, as things stand, is due to the breadth of the model range: from the iPhone 17e at the entry level to the iPhone 17 Pro Max at the top, Apple covers price ranges and target groups in a way never seen before. With the iPhone Air 2 in development and the foldable iPhone Ultra coming this fall, this strategy will have an even broader impact in 2026. Parekh's statement today could already be followed by a successor in the next fiscal year. (Image: Apple)
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