Apple posted record quarterly revenue of $114.48 billion, led by the iPhone, Mac and services, while net profit reached $30.71 billion. Sales in Greater China nevertheless came in at $17.54 billion, $1.2 billion below consensus estimates. Rising memory prices, with purchase commitments surging by $33 billion between June and September, are expected to drive gross margin down to 45% or 46% in the holiday quarter. Apple still forecasts revenue growth of 7% to 10%, ahead of the introduction of its next iPhone models in early 2027.
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