Strong iPhone demand lifted Apple’s revenue to record levels in the quarter ending September. The company closed its fiscal year with unprecedented profits. Despite global trade tensions and lagging in the AI race, Apple delivered better-than-expected results.
Apple CEO Tim Cook announced quarterly revenue of $102.5 billion and record sales in iPhone and Services. Profits surged to $27.5 billion (€23.8bn), nearly double last year’s figure. Investors responded positively, pushing Apple shares up 2% in after-hours trading.
Apple redesigned the iPhone 17 with a sleek “liquid glass” finish, though it lacks AI tools seen in Samsung and Google devices. The company kept prices stable despite $1.1 billion (€950m) in tariffs on devices made in India and China. Those tariffs may cost another $1.4 billion (€1.2bn) next quarter.
Sales Surge Despite Trade Pressures
Consumers in the U.S. and Europe drove iPhone sales to $49 billion (€42.4bn) between July and September, up 6% year-over-year. Analysts had expected 8% growth, following a 13% increase in the prior quarter.
Quilter Cheviot’s Ben Barringer reported that Mac sales climbed 12%, while iPads and wearables remained flat. He noted weaker performance in China, where sales fell 4% because of supply issues. IDC data shows Apple sold 58.6 million iPhones worldwide, ranking second behind Samsung’s 61.4 million Android devices.
For the full fiscal year, Apple posted a record net income of $112 billion (€96.8bn), a 20% rise from last year. Tim Cook told analysts that he expects iPhone 17 demand to remain strong through the holiday season.
Apple’s finance chief, Kevan Parekh, projected at least 10% growth in holiday iPhone sales compared to last year. Total company revenue should rise at a similar pace. Barringer described Apple’s forecast of 10–12% growth as “robust” heading into Christmas.
Investors Weigh Future Growth Prospects
Apple’s stock soared earlier this month after International Data Corp. reported record iPhone sales. The rally lifted Apple’s market value above $4 trillion, setting up another potential record in Friday’s trading.
However, Apple still trails rivals in the AI boom, where Nvidia recently became the first company valued at $5 trillion. Apple promised several AI upgrades last year but delivered only a few, delaying Siri’s major overhaul until next year.
Barringer warned that some investors may shift focus to faster-growing tech firms like Microsoft and Nvidia amid uncertainty in China. Yet Apple’s history shows a pattern of late innovation followed by market leadership.
Wedbush analyst Dan Ives predicted that if Apple successfully integrates AI into the iPhone, its valuation could grow by $1 trillion (€860bn) to $1.5 trillion (€1.3tr), raising its share price by $75 to $100.
