Apple achieves record holiday quarter fuelled by iPhone 17 sales

Core Insights - Apple Inc. reported a record revenue of $143.8 billion for the holiday quarter, exceeding Wall Street estimates of $138.4 billion, driven by strong demand for the iPhone 17, growth in services, and a rebound in China [1][5] - The iPhone generated $85.3 billion in revenue, surpassing the estimate of $78.3 billion, with a year-over-year growth of 23% [6] - Services revenue reached $30 billion, reflecting a 14% increase from the previous year, aligning with market expectations [6] Revenue Breakdown - Total revenue for the holiday quarter increased by 16% compared to the previous year [1] - Revenue from China was reported at $25.5 billion, marking a significant 38% increase year-over-year, exceeding Wall Street's projection of $21.8 billion [5] - The Mac segment saw a decline in revenue, falling 6.7% to $8.39 billion, which was below the expected $9.13 billion [7] Market Position and Future Outlook - Apple regained its position as the No. 1 smartphone seller globally, surpassing Samsung Electronics [3] - The company faces uncertainty in maintaining its market dominance, particularly regarding pricing strategies and the development of next-generation devices [4] - The wearables segment showed sluggish performance, with sales declining 2.2% to $11.5 billion, falling short of the $12.1 billion expectation [7]