Apple’s September Quarter Hits $102.5B as Services Set Record; Cook Guides to Best Holiday Yet

Apple reported stronger-than-expected September‑quarter results, buoyed by the iPhone 17 launch and record Services revenue. Shares rose after-hours as Tim Cook said Apple is positioned for its “best holiday season,” guiding to double‑digit growth for the December quarter.

The Headlines

• Revenue reached $102.5B (+8% YoY) with EPS $1.85, topping forecasts.
• iPhone revenue: $49.0B (+6% YoY); Services: $28.75B (+15% YoY, all‑time high).
• Gross margin improved to 47.2%; Mac climbed to $8.7B (+13% YoY).
• Cook guided to 10–12% YoY December‑quarter growth; Apple’s market cap pushed past $4T post‑report.

By the Numbers

• Segment mix: iPhone $49.02B, Services $28.75B, Wearables/Home/Accessories $9.01B, Mac $8.73B, iPad $6.95B.
• Company gross margin: 47.2%; quarterly dividend $0.26/share declared.
• Stock up about 3% in extended trading after the print.

Why It Matters

• Strong iPhone 17 uptake and expanding Services ARPU continue to diversify Apple’s hardware‑heavy mix.
• Record Services provides higher‑margin ballast, helping lift overall profitability even as hardware cycles fluctuate.
• The beat and bullish guide add momentum to Big Tech’s earnings season and support broader market sentiment around consumer tech demand.

What’s Next

• Apple expects December‑quarter revenue to grow 10–12% YoY, implying a potential all‑time high around the holiday period.
• Management flagged ongoing investments in AI (“Apple Intelligence”) and hinted at broader integrations next year, as the company balances services growth with new device cycles.

The Bottom Line

Apple’s September‑quarter results show a resilient hardware cycle complemented by record, high‑margin Services. With double‑digit holiday guidance and mounting AI ambitions, the company enters Q1 on offense—setting expectations for another record stretch if supply and regional demand hold.