Apple’s sales surge, but supply worries send shares lower in Tim Cook’s final earnings report as CEO

Apple’s sales surge, but supply worries send shares lower in Tim Cook’s final earnings report as CEO

Apple grew sales 16% to $109.4B with iPhone +22%, but supply constraints pushed Q3 guidance to 9-11%. Memory cost pressures drive device price hikes, exposing hardware margin risk. Apple's AI-capex restraint appeals versus rivals' bulky infrastructure bets.