Overview
- Apple reported quarterly revenue of $114.5 billion and diluted EPS of $2.10, topping Wall Street estimates in results disclosed on Monday, Nov. 2.
- iPhone sales led the beat with $57.58 billion in September-quarter revenue while Services reached an all-time high of about $31.57 billion.
- The foldable iPhone Duo is selling faster than Apple can make it and the company says a very small share of units were returned for inner-display cracking and are being replaced.
- Apple said an AI-driven surge in memory and flash prices is squeezing margins even after price increases and tariff refunds that added roughly one percentage point to gross margin and about $0.05 to EPS.
- Executives signaled the December quarter will hinge on supply, memory costs, Siri AI operating expenses and product cadence and the board declared a $0.27 per-share dividend payable Nov. 16.