Apple beats September-quarter earnings forecasts
Apple reported earnings above expectations for the September quarter, according to the company. It warned that rising memory-chip prices will keep squeezing its margins, and CEO John Ternus said prices will be raised to offset those costs. Growth in the Services segment slowed, prompting investor questions about how it will recover. During the earnings call Apple also introduced a new foldable iPhone Duo.
Key facts
- Apple will include its CFO and COO in future earnings calls, a practice it had not used for years.
Summarised with AI from 1 sourceRead our AI policy
Why it matters
Rising memory-chip costs may push up prices for Apple products, affecting consumers and the company's margins.
What changed
First published from Fortune