Apple reported $57 billion in iPhone revenue for the March quarter of 2026, a 22 percent jump year over year, even as chip shortages constrained how many devices it could ship. Total company revenue hit $111.2 billion, which CEO Tim Cook called Apple's best March quarter ever. Cook told Reuters that iPhone demand was "off the charts" but acknowledged "a little less flexibility in the supply chain at the moment for getting more parts", meaning Apple likely left some sales on the table due to component constraints, not weak demand. The results land just over a week after Apple announced Cook will retire in September, with hardware engineering chief John Ternus set to take over. Investors will be watching whether Ternus can manage supply chain pressure while sustaining the iPhone's growth trajectory. Chip availability and the leadership transition are the two variables that matter most heading into the next quarter.
HDFC Bank's board has approved Rajiv Kumar, former Chief Election Commissioner and financial services secretary, as its Part-time Non-Executive Chairman from June 30, 2026. His chairmanship still requires RBI approval, but the move ends the bank's prolonged search for a permanent board leader.
Indian startups raised $1.1 billion across 16 deals in the week of June 21-26, 2026, up 2.5 times from the prior week, with CRED's $900 million Series H led by Meta accounting for most of the total. Square Yards became India's 131st unicorn after closing a $95 million round.
Jet fuel costs dropped sharply after a US-Iran interim peace deal, but airlines are expected to use the savings to rebuild margins rather than cut fares. Tight capacity, aircraft delivery delays, and weak budget carriers give major carriers unusual pricing power heading into the second half of 2026.
Meta is investing $900 million in CRED at a $4.5 billion valuation, the largest Indian startup round of 2026, as founder Kunal Shah moves to a global leadership role at WhatsApp. Miten Sampat takes over as interim CEO, and a major employee stock buyback is expected within weeks.
