Apple reported a 16% revenue increase to over $109 billion for its fiscal third quarter ending in June, driven by strong iPhone sales and growth in Mac and Services. Despite missing some Wall Street forecasts in Services revenue, the quarter marks CEO Tim Cook's last before John Ternus takes over on September 1. The company also introduced a new leasing program for devices and faces supply challenges due to chip shortages amid the AI boom. Investors await further insights on product demand, tariffs, and AI developments in Cook's final earnings call.
Apple reported a record $109.4 billion in revenue for the June quarter, driven by strong iPhone, Mac, and Services sales, including a record $30.7 billion in Services revenue and over 1.5 billion paid subscriptions. Despite these results, investors r...
Apple Inc. reported strong Q3 results with growth in iPhone, Mac, and services, alongside record gross margins. Despite these solid fundamentals and shareholder returns, the stock's valuation is high, trading at a forward P/E of 38x compared to its 5...
Apple CEO Tim Cook highlighted the company's significant opportunities in artificial intelligence during his final earnings call as CEO. Apple aims to leverage AI as a key feature to drive iCloud subscription upgrades, particularly through its hybrid...
Apple is experiencing significant memory chip shortages and rising costs due to high demand driven by generative AI, impacting production of iPhones, Macs, and iPads. Despite reporting its strongest June quarter ever with 22% growth in iPhone sales a...
Apple Inc. reported strong Q3 results with $109.42 billion revenue and $2.02 EPS, driven by solid iPhone and Mac sales. However, shares dropped after management forecasted Q4 revenue growth of 9%–11% and gross margins of 45.5%–46.5%, both below analy...
