Tim Cook's Final Full Quarter as CEO Saw iPhone Revenue Hit $56.99 Billion and Services Revenue Hit a Record $30.98 Billion. Does That Mix Make Apple Stock a Buy as John Ternus Takes Over?
Apple's growth engine is firing on all cylinders, from iPhone and high-margin Services to AI and a massive new product cycle.
Overview
In my opinion, Apple (NASDAQ: AAPL) is pretty much always a buy. The company keeps finding ways to grow revenue, and the numbers speak for themselves. Tim Cook's final full quarter saw $109.42 billion in revenue, up 16.4%. The iPhone pulled in $54.25 billion, while services hit a June-quarter record of $30.74 billion. That mix is a big reason why I'm bullish on Apple.
In Q3 for Apple, iPhone revenue grew 21.7% year over year, driven by the iPhone 17 family, with June-quarter records in every geographic segment and a record quarter for upgraders. Services grew 12.1% and now represents 28.1% of total sales, setting records across every category, including all-time highs in cloud and payment services.
Outgoing Apple CEO Tim Cook. Image source: Apple.
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Originally published at www.fool.com.