Memory Crunch
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Apple tops Q1 earnings estimates on record-breaking iPhone sales; stock falls after Cook's memory warning
Yahoo Finance· 2026-01-29 21:30
Apple (AAPL) reported its first quarter earnings on Thursday, beating Wall Street's expectations on the top and bottom lines, on strong iPhone sales. Apple's iPhone revenue topped out at an all-time record of $85.3 billion in the quarter, well ahead of the $78.3 billion analysts were anticipating. The company recorded iPhone sales of $69.1 billion in the same quarter last year. But during Apple's earnings call, CEO Tim Cook said that the global memory crunch is going to hit the company's margins going ...