Apple reports record annual revenue as hardware sales drive growth
Apple posted record annual revenue and earnings per share, bolstered by strong iPhone and Mac demand, despite market concerns over future profit margins.
Apple recorded its most profitable fiscal year to date, driven by significant growth in its core hardware divisions. The company reported a 17.5 percent increase in iPhone revenue to $57.6 billion for the September quarter, while Mac revenue rose 24 percent to $10.8 billion, marking a four-year peak.
The financial results highlight a distinct operational strategy compared to tech peers. While competitors have aggressively increased infrastructure spending to fuel large-scale artificial intelligence initiatives, Apple has managed to maintain fiscal discipline while integrating AI features into its product ecosystem.
Despite the positive performance, Apple’s stock declined in premarket trading on Tuesday. Investors responded to the company’s guidance regarding the upcoming holiday quarter, which warned that rising memory costs are expected to tighten profit margins.
The current financial data reflects a sustained demand for hardware upgrades, providing a stable foundation as the company shifts its focus toward integrating artificial intelligence across its existing device portfolio.