Apple Sees US Consumer Spend Holding Strong Into Holidays

Core Insights - Apple reported strong Q4 earnings, indicating a resilient U.S. consumer with iPhone demand driving record revenue and expectations for a strong December quarter [1][3] Financial Performance - Apple achieved $102.5 billion in September-quarter revenue and $1.85 in adjusted diluted EPS [7] - iPhone revenue reached $49 billion, up 6%, while Mac revenue was $8.7 billion, up 13%, and iPad revenue remained flat at $7 billion [7] - Services revenue hit an all-time high of $28.8 billion, up 15%, with payment services also reaching record revenue [6] Future Guidance - The company expects December-quarter revenue to grow 10-12% year over year, with iPhone growth projected in double digits [1] - Gross margin is guided to be between 47-48%, despite higher initial costs for new products [5] AI and Technology Investments - Apple is significantly increasing investments in AI, with plans to release a more personalized Siri next year [4] - The company is pursuing M&A opportunities to advance its AI roadmap and has begun manufacturing servers for Apple Intelligence [4][5] Market Dynamics - Apple noted a decline in revenue from Greater China, down 4% year over year, attributed to supply constraints rather than demand issues [7] - Supply remains tight for several iPhone 17 models, indicating strong demand and consumer spending power heading into the holiday season [8]