Apple rides iPhone strength, but China and Services miss weigh on stock
TL;DR Summary
Apple beat Q3 estimates with EPS of $2.02 on revenue of $109.4B, powered by iPhone sales ($54.2B) but fell short on Services ($30.7B vs. $31.3B) and Greater China ($18.8B vs. $19.5B), triggering a premarket stock drop as investors weigh margin pressures from higher memory costs and the potential impact of iPhone price hikes; analysts also note a transition with John Ternus taking over from Tim Cook.
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