“Apple outpaces sales expectations as it continues to battle surging memory chip costs”

Key points

• Apple reported fourth-quarter revenue of $114.5 billion and profit of $30.7 billion.
• iPhone revenue reached $57.58 billion, both above Wall Street projections.
• Services revenue totaled $31.57 billion, marking an all-time high.
• Fourth-quarter gross margin rose to 47.9%, near the high end of guidance.
• Ternus highlighted a strong year and upcoming lineup, including Siri AI integration.