Apple posts record iPhone quarter as memory costs and Duo supply bite

· Tech · United States

Apple reported fiscal fourth-quarter revenue of $114.5 billion, up 12% year over year, beating Wall Street estimates of $113.46 billion, with earnings per share of $2.10. iPhone revenue hit a record $57.58 billion, up 17%, even though Apple did not release a standard new iPhone in the refresh, while Services reached an all-time high. It was the first earnings report under new chief executive John Ternus, and sales growth was the slowest of the year, with China and iPad revenue missing. Apple also said unprecedented memory chip costs will keep rising and that it cannot predict when iPhone Duo supply will catch up with demand, as shipping delays stretch into next year; inventory climbed 154% to $14.5 billion.

Why it matters：Apple's results show AI-driven memory prices feeding into device economics and a flagship supply shortfall that will shape pricing and availability across the consumer hardware sector.

Key points

  • Services revenue set an all-time record in the quarter.
  • Apple's inventory rose 154% to $14.5 billion amid memory cost inflation.
  • CEO John Ternus said the company cannot predict when iPhone Duo supply and demand will balance.

Sources (original reporting)

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