Overview
- Greater China revenue fell 3.59% year over year to $14.493 billion in fiscal Q4 ended Sept. 27.
- Cook attributed the decline primarily to temporary supply constraints, with intensified competition from Chinese brands also weighing on results.
- Apple reported stronger consumer signals in China, including higher store traffic and a robust reception for the iPhone 17 lineup.
- Early Counterpoint Research data indicate iPhone 17 sales are up about 14% versus iPhone 16 in the U.S. and China.
- Apple guided for fiscal Q1 (Oct–Dec) revenue growth of 10% to 12% with double‑digit iPhone growth, while several iPhone 17 models remain supply constrained and management views China and tariff headwinds as temporary.