John Ternus hosted his first Apple earnings call on Monday, November 2.
Analysts expected revenue of $113.39 billion, up nearly 11 percent from a year earlier, according to Reuters.
Profit was expected to rise about 6 percent. That would be the weakest profit growth in six quarters.
Ternus took over from Tim Cook as CEO in September. This was his first earnings call.
Memory chip prices rose in March, June, and September. Cook called it a 100-year flood of rising costs.
Apple guided a gross margin of 47 to 48 percent. Rising chip costs make that hard to hold.
The iPhone 18 Pro went on sale September 18. Only nine days of sales fell in the quarter.
Apple's first foldable phone starts at $1,999. Online orders sold out within minutes.
Some early Duo buyers reported cracks along the inner display fold. Apple offered replacements.
Bank of America says Duo buyers face average delivery waits of 79 days. Demand beats supply.
The December quarter includes the holiday season and the Duo. Ternus's outlook will move the stock.
Apple's shares are up 27 percent this year. Read the full story on rivenews.com.
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