Apple Shares Rise as Strong iPhone 17 Demand Boosts Revenue Outlook
Apple’s shares rose 2% in premarket trading on Friday but later slipped slightly. The rise came after Apple predicted strong holiday season sales, showing that high demand for its new iPhone 17 series is helping its revenue recover, even with some shipment delays in China.
Apple stock performance
By 6:13 p.m. AST, Apple’s stock was down 0.2% at $271 per share. Investors are cautious because Apple’s stock has not grown as much as its tech rivals, with some questioning its progress in artificial intelligence (AI).
This year, Apple and Amazon have been the weakest performers among the “Magnificent Seven” big tech companies. However, Amazon’s shares jumped before the market opened on Friday, helped by strong cloud service growth.
Apple’s shares are currently trading at 33.4 times analysts’ profit estimates, compared with Microsoft’s 31.7 and Meta’s 22.3, according to Reuters data from LSEG.
Apple quarterly earnings
For the quarter ending September 27, Apple reported revenue of $102.5 billion and earnings of $1.85 per share. These numbers slightly beat analysts’ expectations of $102.3 billion in revenue and $1.80 per share in earnings.
iPhone sales totaled $49 billion, below forecasts of $50.2 billion. The shortfall came because the iPhone Air did not reach China until October 22 due to regulatory delays related to its e-SIM–only design. Sales in Greater China were $14.5 billion, lower than the expected $16.2 billion.
Apple said it expects new products — including the iPhone Air (possibly a step toward a foldable phone) and upgraded iPhone Pro and standard models — to boost growth in the coming months.
iPhone sales outlook
CEO Tim Cook said Apple expects iPhone sales and total revenue during the holiday season to exceed Wall Street’s forecasts, thanks to strong demand for iPhone 17 models despite supply issues.
Cook told Reuters that iPhone sales this quarter should grow by double digits compared with last year, and total revenue could rise by 10%–12%. Analysts had predicted smaller gains — 9.8% growth in iPhone sales to $75.9 billion and 6.6% growth in total revenue to $132.5 billion.
Cook added that Apple had supply shortages for some iPhone 17 and iPhone 16 models last quarter and that the delayed China launch of the iPhone Air was the main reason for weaker sales in that region.
Despite lower iPhone sales, Apple still beat profit expectations, helped by strong demand for other products like the new AirPods, which include AI-powered translation features.
Tariff impact
Apple’s reliance on hardware sales continues to expose it to the U.S.–China trade conflict. The company reported $1.1 billion in tariff costs during the last quarter, matching its earlier forecast.
CFO Kevan Parekh said Apple expects $1.4 billion in tariff costs this quarter, with gross margins between 47% and 48%.
Big number
Apple’s market value topped $4 trillion earlier this week after launching the new iPhone series in September, joining Nvidia and Microsoft in reaching that milestone.
Published: 1st November 2025
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