Apple Q3 Revenue Hits $109.4B, Ternus Takes CEO Role Sept. 1
AAPL sits 42% above its 52-week low of $225.95.
Summary
Apple reported Q3 revenue of $109.4B, up 16% YoY, with gross margin at 50.1% — tariff refunds added about 2 percentage points. John Ternus becomes CEO on Sept. 1, a leadership change traders will price in ahead of the Sept. 9 product event. The company is pushing higher-priced iPhone Pro upgrades in India, where Pro penetration is low, using trade-ins and financing to lift mix. IDC forecasts Apple will ship over 17M foldable iPhones in 2027, roughly 40% of global foldable shipments, potentially creating more than $45.7B in market value. Apple is also testing DRAM chips from Chinese maker CXMT for devices sold in China, and analysts see a possible device leasing plan with iPhone 18 to offset higher upfront costs. This follows the Q2 10-Q showing 27% profit growth and a $100B buyback, but also a 32% R&D surge and component shortage warnings.
Updates
· Wiseek News — EPS was $2.02 and iPhone revenue $54.25B. Incoming CEO John Ternus's target compensation is $58M for FY2027, 75% performance-based; Tim Cook's executive chairman package is $47M.
At the time of this announcement, AAPL was trading at $320.13 on NASDAQ in the Technology sector, with a market capitalization of approximately $4.7T. The 52-week trading range was $225.95 to $344.57. This news item was assessed with positive market sentiment and an importance score of 8 out of 10. Source: Wiseek News.