Apple beats sales forecasts but costs cloud outlook
Apple exceeded sales expectations in its first earnings report under chief executive John Ternus, but warned that unprecedented memory-chip costs would pressure margins. Financial Times, Fortune and MarketWatch items said iPhone demand remained strong while services growth slowed, inventories rose and investors questioned whether future product pricing could absorb higher component costs.
Why it matters
Apple’s results show how the memory shortage can erode profitability even when flagship product demand remains robust.
Sources
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Part of the November 3, 2026 brief.