Overview
- Apple reported roughly $114.5 billion in revenue and $30.7 billion in net income for the quarter, slightly above analyst expectations.
- Management gave guidance for about 7–10% revenue growth and a 45–46% gross margin for the holiday quarter and said memory‑chip prices have risen to levels it called unprecedented.
- The newly launched iPhone Duo sold out quickly and pushed strong iPhone revenue but faces long delivery waits and some reports of cracked inner displays that Apple says affect a small number of units.
- Apple shares fell in after‑hours trading as investors weighed the cautious outlook against a valuation that has climbed sharply this year.
- The near‑term test for CEO John Ternus will be whether Duo supply, pricing and other product moves can offset rising component costs and sustain investor expectations through the holiday season.