Apple's net sales quarterly FY 2012-Q2 2026, by region

Net sales of Apple from fiscal 1st quarter 2012 to 2nd quarter 2026, by geographical region or country

Apple is one of the most global companies on earth, and the way its revenue is spread across the world reveals as much about the firm as its headline totals do. Apple divides its net sales into five geographic segments: the Americas, Europe, Greater China, Japan, and the Rest of Asia Pacific. The Americas, dominated by the United States, has always been the largest, but the relative weight of the other regions has shifted dramatically over the years, most notably with the rise and partial retreat of Greater China. This report traces Apple's net sales by region from the early 2010s through to the latest reported quarter, the second quarter of fiscal 2026. The full company wide revenue picture is set out in our Apple total net sales analysis, and a direct rival comparison in our Apple and Google revenue comparison.

A note on the data is important. Apple reports detailed regional figures every quarter, but its quarterly results are highly seasonal: the holiday quarter that ends in December is by far the largest, while the spring and summer quarters are smaller. To show the underlying long run trends clearly, this report uses Apple's annual net sales by region for the fiscal years 2015 to 2025, the period over which the five segment structure has been reported consistently, and then zooms in on the most recent quarter, the March 2026 quarter, for an up to date regional snapshot. All figures are Apple's reported net sales in U.S. dollars. How Apple's overall scale compares with its peers is covered in our big tech companies revenue comparison.

It is worth being precise about what these geographic segments mean, because Apple's definitions are broader than the place names suggest. The Americas covers both North and South America, blending the mature United States market with faster growing economies like Brazil and Mexico. Europe, despite its name, includes India, the Middle East and Africa, which is why some of Apple's quickest emerging market growth shows up inside the European figure. Greater China bundles mainland China with Hong Kong and Taiwan, while the Rest of Asia Pacific gathers up Australia, South Korea, Southeast Asia and other markets. Keeping these definitions in mind is essential, because they explain why a region like Europe can keep growing even when its core Western economies are mature and largely saturated.

The big picture is one of broad based growth with a striking regional twist. Every region is larger today than it was a decade ago, but they have not grown at the same pace. The Americas and Europe have climbed steadily and now account for the bulk of Apple's revenue, the Rest of Asia Pacific has grown fastest in percentage terms from a small base, and Greater China has followed a dramatic boom and slowdown path that makes it the most volatile of the five. Understanding these regional currents is essential to understanding where Apple's future growth is most and least secure, a question explored further in our largest source of revenue of leading tech companies analysis.

Apple Net Sales by Region, by Year

The table sets out Apple's annual net sales for each of the five regions from fiscal 2015 to 2025, with the most recent figures showing the current balance of the business. Reading across any row reveals how dependent Apple remains on the Americas and Europe, which together supply roughly seventy percent of revenue. Reading down the Greater China column tells a more turbulent story, with sales peaking, falling, surging again and then easing back. The Japan and Rest of Asia Pacific columns are smaller but show steady progress, with the latter growing especially quickly. Sorting any column highlights how the regional pecking order has shifted, with Europe pulling clearly ahead of Greater China as Apple's second largest market in recent years.

How Apple's Revenue Splits Across the World

In fiscal 2025 the Americas accounted for about 43 percent of Apple's net sales, comfortably the largest slice, followed by Europe at roughly 27 percent. Greater China contributed around 15 percent, with the Rest of Asia Pacific at about 8 percent and Japan at close to 7 percent. The dominance of the Americas reflects Apple's commanding position in the United States, where it leads the smartphone market by a wide margin and operates its densest network of retail stores. The share picture also shows how much room remains in emerging markets, where Apple's penetration is far lower than at home. Apple's standing among the world's most valuable companies is detailed in our biggest companies by market value overview.

What the share breakdown hides is how much these proportions have moved over time. A decade ago Greater China was on track to rival the Americas, at one point approaching a quarter of all Apple revenue, whereas today it sits at around 15 percent. Europe, meanwhile, has quietly expanded its share and overtaken China to become the clear number two. The Rest of Asia Pacific, which includes fast growing markets such as India, Australia and Southeast Asia, has steadily increased its slice and is now a meaningful contributor. The regional pie is therefore not static but constantly being redrawn, reflecting shifting competitive dynamics, currency swings and the uneven spread of Apple's products across the globe.

Greater China: Apple's Boom-and-Slowdown Market

No region tells a more dramatic story than Greater China, which includes mainland China, Hong Kong and Taiwan. Apple's Chinese revenue exploded in the middle of the last decade, reaching about $59 billion in fiscal 2015 as the iPhone became a status symbol and Apple expanded aggressively. It then slumped for several years amid intensifying local competition and a maturing market, before roaring back to a record of around $74 billion in fiscal 2022. Since then it has eased back to about $64 billion in fiscal 2025, pressured by fierce domestic rivals and a tougher economic backdrop. The broader context of the Chinese economy that shapes this market is examined in our China GDP analysis.

This boom and slowdown pattern makes Greater China both Apple's biggest opportunity and its biggest source of risk. On the upside, the region staged a notable recovery in early fiscal 2026, with Greater China sales rising 28 percent year over year in the March quarter to about $20.5 billion, a quarterly record driven by strong demand for the iPhone 17 line. On the downside, the long term trend since the 2022 peak has been one of pressure from well funded local competitors and an unpredictable regulatory and economic environment. How Apple navigates the smartphone battle in China, against rivals tracked in our smartphone market share by vendor analysis, will go a long way to determining whether this volatile region returns to sustained growth or remains a swing factor in Apple's results.

The Americas: Apple's Unshakeable Home Market

If Greater China is the volatile region, the Americas is the rock. Apple's largest segment has grown almost without interruption, climbing from about $94 billion in fiscal 2015 to roughly $178 billion in fiscal 2025, nearly doubling over the decade. The United States provides the overwhelming majority of this revenue, supported by Canada and a growing Latin American market. Apple's strength at home rests on an exceptionally loyal customer base, the highest smartphone market share of any major economy, and an unrivalled retail and services ecosystem. The Americas alone now generates more revenue than Apple's entire global business did as recently as fiscal 2014, a vivid illustration of how much the home market has expanded.

The steady growth of the Americas gives Apple a dependable foundation that offsets the swings in other regions. Even in years when Greater China stumbled or currency movements hurt international results, the Americas kept climbing, anchoring the company's overall trajectory. This reliability is one reason investors are willing to pay a premium for Apple shares: a large and growing share of its revenue comes from a market it dominates and understands intimately. The flip side is concentration risk, since such heavy reliance on a single region leaves Apple exposed to any slowdown in U.S. consumer spending, though the diversity of its other markets provides some cushion against that scenario.

The scale of the Americas also shapes how Apple invests and operates. Because so much of its revenue and profit originates close to home, Apple concentrates its flagship retail stores, marketing and product launches on the U.S. market, reinforcing the loyalty that underpins the region. New services, payment features and trade in programmes are typically rolled out in the Americas first, deepening the ecosystem that keeps customers upgrading. This creates a virtuous circle in which the strongest region receives the most attention and in turn grows further, a dynamic that helps explain why the Americas has avoided the kind of stagnation seen in some other mature markets.

Which Regions Grew Fastest, 2015-2025

Comparing how much each region has grown between fiscal 2015 and fiscal 2025 reframes the regional story in terms of momentum rather than size. On this measure the smaller regions shine: the Rest of Asia Pacific grew by well over a hundred percent, and Europe expanded by a similar margin, both more than doubling over the decade. The Americas grew by around ninety percent, an enormous absolute gain given its already large base. Japan grew solidly despite a weak yen weighing on its dollar figures. Greater China, by contrast, grew only modestly over the full period, around ten percent, because its 2025 figure sits well below the heights it reached in 2015 and 2022.

These growth rates explain why the regional mix has shifted the way it has. Europe and the Rest of Asia Pacific have gained share precisely because they grew faster than the company average, while Greater China has lost share because it grew far slower. For Apple, the strong growth in Europe and the emerging Asia Pacific markets is encouraging, since it suggests the company still has room to expand outside its saturated home market. India in particular, included within the Rest of Asia Pacific and parts of Europe reporting, has become a major focus, with new stores and local manufacturing aimed at turning the world's most populous country into a future growth engine comparable to what China once was.

How the Regional Mix Has Shifted

Placing the regional shares of fiscal 2015 next to those of fiscal 2025 makes the rebalancing of Apple's business unmistakable. Ten years ago Greater China commanded around a quarter of all Apple revenue and looked set to keep climbing; today its share has fallen to roughly 15 percent. Europe has moved in the opposite direction, lifting its share from about 22 percent to nearly 27 percent and overtaking China to become the firm second largest market. The Americas has held and even modestly increased its leading share, while the Rest of Asia Pacific has crept up as new markets mature. The net effect is a more balanced, if Americas anchored, geographic footprint.

This shift has important strategic implications. A business that leans more on Europe and diversified Asia Pacific markets, and less on a single volatile market like China, is arguably more resilient, since its fortunes are spread across a wider range of economies and currencies. At the same time, the relative decline of China removes what was once Apple's most explosive growth engine, putting more pressure on the company to find new sources of expansion. The way these enormous revenue streams ultimately translate into corporate value is explored in our top companies by market capitalization analysis, which ranks Apple against the other global giants.

Europe: A Steady Second Pillar

Europe has been the quiet achiever among Apple's regions. Often overshadowed by the drama in China and the dominance of the Americas, Europe has grown steadily and reliably, from about $50 billion in fiscal 2015 to roughly $111 billion in fiscal 2025, more than doubling over the decade. Apple defines Europe broadly, including not only the major Western European economies such as the United Kingdom, Germany and France but also India, the Middle East and Africa. That broad definition means Europe captures some of the fastest growing emerging markets, which has helped sustain its strong upward trajectory even as growth in mature Western European countries has slowed.

The steady rise of Europe has been one of the most important and least heralded developments in Apple's regional story. By overtaking Greater China, Europe has become the dependable second pillar that, alongside the Americas, gives Apple a stable revenue base across developed and emerging markets alike. Currency movements add some noise to the European figures, since a strong dollar reduces the value of euro and pound sales when converted, but the underlying demand has proved durable. As Apple pushes deeper into India and other markets captured within this segment, Europe looks set to remain a key driver of the company's international growth for years to come.

Inside the Latest Quarter: Q2 2026 by Region

Turning from annual trends to the latest quarter brings the regional picture right up to date. In the second quarter of fiscal 2026, the March 2026 quarter, Apple posted record March quarter revenue of about $111 billion, with growth across every single geographic segment for the first time in years. The Americas led with roughly $45 billion, followed by Europe at about $28 billion and Greater China at around $20.5 billion. Japan contributed about $8.4 billion and the Rest of Asia Pacific around $9.1 billion. Crucially, all five regions grew year over year, a sign of broad based strength that Apple had not enjoyed in several quarters and that lifted the company to its best March quarter on record.

The standout performer in the quarter was Greater China, which grew 28 percent year over year, its best result in years and a quarterly record for the region, driven by enthusiasm for the iPhone 17 family. The Rest of Asia Pacific also grew strongly, up around 25 percent, while Europe rose almost 15 percent and Japan about 15 percent. Even the mature Americas managed double digit growth of nearly 12 percent. This synchronised regional growth is significant because it suggests Apple's latest product cycle is resonating worldwide rather than in just one or two markets, broadening the base of the company's revenue and reducing its reliance on any single region for momentum.

It is worth remembering how unusual synchronised growth across all five regions actually is for Apple. In many recent years at least one region, often Greater China, has dragged on the overall result, masking strength elsewhere. The March 2026 quarter broke that pattern, with every segment contributing to the record total, which management pointed to as evidence that the latest product line up was resonating globally. Whether this breadth of growth can be sustained through the smaller summer quarters and into the next holiday season is one of the most important questions for Apple investors, since a return to single region dependence would make results more volatile.

Ranking the Regions in Q2 2026

Ranking the five regions by their March 2026 quarter sales confirms the familiar hierarchy while highlighting the recent shifts. The Americas sits comfortably on top, generating more than the next two regions combined, a reminder of how central the United States remains to Apple's fortunes. Europe holds a clear second place, well ahead of Greater China in third, cementing the reordering that has taken place over the past few years. Japan and the Rest of Asia Pacific occupy the lower rungs, though the latter is now within reach of overtaking Japan as it benefits from growth in India and Southeast Asia. The ranking is a snapshot of a business that is global but still firmly led by its home region.

The quarterly ranking also underlines how different the regions are in character. The Americas and Europe are large, mature and steadily growing, providing the ballast for Apple's results. Greater China is large but volatile, capable of swinging the company's growth rate up or down in any given quarter. Japan is small, stable and sensitive to currency moves, while the Rest of Asia Pacific is the smallest but fastest rising, carrying the hopes of Apple's emerging market ambitions. Read together, the regional rankings show a company that has successfully globalised its revenue while remaining anchored at home, a balance that has served it well through a turbulent decade for the wider technology industry.

China's Shrinking Share of the Pie

One of the clearest ways to see how Apple's centre of gravity has moved is to track Greater China's share of total net sales over time. In fiscal 2015, at the height of the China boom, the region accounted for about 25 percent of Apple's revenue, making it almost as important as the Americas. That share then slid steadily as Chinese sales stagnated and the rest of the business grew, falling below 15 percent by fiscal 2020. A renewed surge lifted it back toward 19 percent in the early 2020s, but it has since drifted down again to around 15 percent in fiscal 2025. The single line of China's revenue share captures the region's entire boom and slowdown arc in one view.

The declining share of Greater China is arguably the most consequential trend in Apple's regional mix, because it marks the fading of what was once expected to be the company's primary growth engine. As China's contribution has shrunk in relative terms, the burden of driving growth has shifted to the Americas, Europe and the emerging Asia Pacific markets. For Apple, the hope is that markets like India can eventually replicate the explosive growth China delivered a decade ago. Whether any single market can do so remains uncertain, which is why Apple is increasingly pursuing growth across many regions at once rather than betting on one, a strategy that fits the broader landscape mapped in our internet companies revenue analysis.

Taken together, Apple's regional net sales tell the story of a company that has grown more global and, in some ways, more balanced over the past decade. The Americas remains the dependable leader, Europe has risen to a clear and growing second place, Greater China has swung from boom to slowdown and back, and the smaller Asia Pacific and Japan segments have steadily expanded. The latest March 2026 quarter, with growth across all five regions and a record result, suggests Apple has found renewed momentum on a broad geographic front. The key questions ahead are whether Greater China can sustain its recent recovery, whether India and the wider Asia Pacific region can become the next great growth engine, and how currency swings reshape the international picture. The wider economic forces behind these regional currents are explored in our global economy overview, and Apple's place among the giants in our Amazon statistics and facts comparison.

Frequently Asked Questions: Apple Net Sales by Region