{"id":108792,"date":"2025-07-31T23:37:09","date_gmt":"2025-07-31T23:37:09","guid":{"rendered":"https:\/\/www.europesays.com\/us\/108792\/"},"modified":"2025-07-31T23:37:09","modified_gmt":"2025-07-31T23:37:09","slug":"apple-surpasses-wall-street-expectations-as-iphone-sales-soar","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/us\/108792\/","title":{"rendered":"Apple surpasses Wall Street expectations as iPhone sales soar"},"content":{"rendered":"

Open this photo in gallery:<\/a><\/p>\n

Sales of iPhones, Apple’s best-selling product, were up 13.5 per cent to US$44.58-billion.Adam Gray\/Reuters<\/p>\n

Apple Inc. AAPL-Q<\/a> forecast revenue well above Wall Street\u2019s estimates on Thursday, following strong June-quarter results supported by customers buying iPhones early to avoid U.S. President Donald Trump\u2019s tariffs.<\/p>\n

Chief financial officer Kevan Parekh said the company expects revenue growth for the current quarter in the \u201cmid to high single digits,\u201d which exceeded the 3.27 per cent growth to US$98.04-billion that analysts expected, according to LSEG data. <\/p>\n

The company\u2019s fiscal third-quarter sales beat expectations by the biggest percentage in at least four years, according to LSEG. But CEO Tim Cook told analysts on a conference call that those tariffs had cost Apple US$800-million in the June quarter and may add US$1.1-billion in costs to the current quarter.<\/p>\n

Apple reported US$94.04-billion in revenue for its fiscal third quarter ended June 28, up nearly 10 per cent from a year earlier and beating analyst expectations of US$89.54-billion, according to LSEG data. Its earnings per share of US$1.57 per share topped expectations of US$1.43 per share.<\/p>\n

Apple shares were up 3 per cent in after-hours trading, extending gains after Apple provided its forecast.<\/p>\n

Sales of iPhones, the Cupertino, Calif., company\u2019s best-selling product, were up 13.5 per cent to US$44.58-billion, beating analyst expectations of US$40.22-billion.<\/p>\n

Microsoft races reaches $4-trillion valuation after solid results<\/a><\/p>\n

Apple has been shifting production of products bound for the U.S., sourcing iPhones from India and other products such as Macs and Apple Watches from Vietnam. Still, the company had warned investors that U.S. tariffs could cost it US$900-million in the fiscal third quarter, and it trimmed its annual share buyback program by US$10-billion, a move analysts viewed as helping to free up cash to remain nimble in uncertain times.<\/p>\n

The ultimate tariffs many Apple products could face remain in flux, and many of its products are currently exempt. Sales in its Americas segment, which includes the U.S. and could face tariff impacts, rose 9.3 per cent to US$41.2-billion.<\/p>\n

In Greater China, where Apple has faced long delays in approval to introduce AI features on its devices, sales were US$15.37-billion, up from a year ago and above expectations of US$15.12-billion, according to a survey of five analysts from data firm Visible Alpha.<\/p>\n

That gain was a turnaround from a year-over-year decline in China sales in the March quarter.<\/p>\n

Opinion: Why Apple can make iPhones only in China, and what Canada can learn from that<\/a><\/p>\n

In an interview with Reuters, Apple CEO Tim Cook said the company set seasonal records for upgrades of iPhones, Macs, and Apple Watches. He said Apple estimates about 1 percentage point of its 9.6 per cent of sales growth in the quarter was attributable to customers making purchases ahead of potential tariffs.<\/p>\n

\u201cWe saw evidence in the early part of the quarter, specifically, of some pull-ahead related to the tariff announcements,\u201d Mr. Cook told Reuters, though he also said the active user base for iPhones hit a record high in all geographies. The U.S. is still negotiating with both China and India, with Mr. Trump saying India could face 25-per-cent tariffs as early as Friday. <\/p>\n

However, analysts said India could still retain cost advantages for Apple in the longer term. \u201cThe results show that Apple\u2019s iPhone strategy is working to offset the impact of looming challenges with AI development timelines [and] tariff pressures,\u201d said Emarketer analyst Jacob Bourne.<\/p>\n

Qualcomm\u2019s high-end smartphone chip reliance, Apple modem loss overshadow upbeat forecast<\/a><\/p>\n

Tariffs are only one of Apple\u2019s challenges. The company faces competition from rivals such as Samsung Electronics Co. in a tough market for premium-priced mobile phones. On the software front, Apple faces challenges from Alphabet, which is quickly weaving AI features into its competing Android operating system. While AI leaders Microsoft and Nvidia have seen their stock market values soar to record highs, Apple\u2019s shares have fallen 17 per cent in 2025, with investors concerned about the impact of tariffs, and about what they view as slow progress integrating AI features into its products.<\/p>\n

Apple has delayed the release of an AI-enriched version of Siri, its virtual assistant, but Mr. Cook said the company is \u201cmaking good progress on a personalized Siri.\u201d He also said Apple, which has thus far not engaged in the massive capital expenditures of its Big Tech rivals to pursue AI, is \u201csignificantly growing\u201d its investments in artificial intelligence.<\/p>\n

\u201cApple has always been about taking the most advanced technologies and making them easy to use and accessible for everyone, and that\u2019s at the heart of our AI strategy,\u201d Mr. Cook said.<\/p>\n

Apple faces regulatory rulings in Europe that threaten to undermine its lucrative App Store business. Apple said sales from its services business, which includes the App Store as well as music and cloud storage, were US$27.42-billion, topping analyst expectations of US$26.8-billion.<\/p>\n

Sales of wearables such as AirPods and Apple Watches were US$7.4-billion, missing estimates of US$7.82-billion. Mac sales of US$8.05-billion beat expectations of US$7.26-billion, while iPads hit US$6.58-billion in sales, missing expectations of US$7.24-billion.<\/p>\n

Apple said gross margins were 46.5 per cent in the fiscal third quarter, beating analyst expectations of 45.9 per cent, according to LSEG estimates. The company forecast gross margins for the current quarter of 46 per cent to 47 per cent, with the entire range above estimates of 45.9 per cent, according to LSEG data.<\/p>\n","protected":false},"excerpt":{"rendered":"Open this photo in gallery: Sales of iPhones, Apple’s best-selling product, were up 13.5 per cent to US$44.58-billion.Adam…\n","protected":false},"author":3,"featured_media":108793,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[17],"tags":[2148,2138,671,104,2132,692,2147,2131,2143,2144,2140,2133,2130,79,407,746,2142,2137,2159,2134,2135,454,2139,1165,728,2149,611,108,2154,2155,2157,2152,2156,2150,2153,2136,85,2146,80,2145,2151,1458,158,1164,2141,67,132,68,1154,107,2158],"class_list":{"0":"post-108792","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-mobile","8":"tag-alberta","9":"tag-arts-news","10":"tag-bc","11":"tag-breaking-news","12":"tag-breaking-news-video","13":"tag-british-columbia","14":"tag-canada","15":"tag-canada-news","16":"tag-canada-sports","17":"tag-canada-sports-news","18":"tag-canada-trafficcanada-weather","19":"tag-canadian-breaking-news","20":"tag-canadian-news","21":"tag-economy","22":"tag-education","23":"tag-environment","24":"tag-federal-government","25":"tag-foreign-news","26":"tag-globe-and-mail","27":"tag-globe-and-mail-breaking-news","28":"tag-globe-and-mail-canada-news","29":"tag-government","30":"tag-life-news","31":"tag-lifestyle","32":"tag-local-news","33":"tag-manitoba","34":"tag-mobile","35":"tag-national-news","36":"tag-new-brunswick","37":"tag-newfoundland-and-labrador","38":"tag-northwest-territories","39":"tag-nova-scotia","40":"tag-nunavut","41":"tag-ontario","42":"tag-pei","43":"tag-photos","44":"tag-political-news","45":"tag-political-opinion","46":"tag-politics","47":"tag-politics-news","48":"tag-quebec","49":"tag-sports-news","50":"tag-technology","51":"tag-travel","52":"tag-trudeau","53":"tag-united-states","54":"tag-unitedstates","55":"tag-us","56":"tag-us-news","57":"tag-world-news","58":"tag-yukon"},"share_on_mastodon":{"url":"","error":"Validation failed: Text character limit of 500 exceeded"},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts\/108792","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/comments?post=108792"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts\/108792\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/media\/108793"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/media?parent=108792"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/categories?post=108792"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/tags?post=108792"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}