Particle.news
Download on the App Store

Apple Sets All-Time Revenue Record as iPhone Demand Outpaces Supply, Guides Double-Digit March Growth

Guidance points to double-digit March growth despite supply bottlenecks, with rising memory costs looming.

Overview

  • Apple posted fiscal Q1 revenue of $143.8 billion, up 16% year over year, with EPS of $2.84 and net income of $42.1 billion.
  • iPhone revenue hit a record $85.3 billion, up 23% year over year, as Tim Cook said demand exceeded supply due to processor manufacturing constraints at TSMC.
  • Services set a new high at $30.0 billion and Apple’s active installed base surpassed 2.5 billion devices.
  • Management guided March-quarter revenue growth of 13% to 16% and gross margins of 48% to 49%, while analysts flagged DRAM cost pressures as a greater near-term margin risk.
  • Apple highlighted its collaboration with Google’s Gemini to power Apple Intelligence and a more capable Siri, as several firms raised price targets and Evercore kept an Outperform rating but removed the stock from its tactical list.