Apple posted record revenue of $109.4 billion in the June quarter, up 16% year-over-year, driven by strong iPhone and Mac sales. The stock fell around 4% in after-hours trading as investors expressed concerns over weaker-than-expected Services and iPad results, as well as the impact of tariff refunds on earnings. Tim Cook, who will step down as CEO on September 1 after 15 years leading the company, signed off with net income of $29.8 billion and diluted earnings per share of $2.02. Hardware chief John Ternus will succeed him as CEO.
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