Apple Inc. (AAPL) Stock: Earnings Beat Forecasts as iPhone Growth Offsets China Weakness

TLDR

• Apple reported Q4 EPS of $1.85 on $102.5B revenue, beating expectations.
• iPhone revenue of $49.03B fell slightly below forecasts.
• Greater China revenue missed estimates at $14.49B.
• CEO Tim Cook expects record iPhone revenue in Q1.
• Market cap recently crossed $4 trillion; stock trades at $272.01.

Apple Inc. (NASDAQ: AAPL) stock traded at $272.01 as of 2:36 PM EDT on Friday after reporting stronger-than-expected fourth-quarter results on October 31, 2025.

Apple Inc., AAPL

The company’s earnings beat Wall Street estimates, but iPhone and China revenues came in slightly below expectations. Despite this, Apple CEO Tim Cook offered a confident outlook, predicting double-digit iPhone growth in the coming quarter.

Q4 Earnings Performance

For the fiscal fourth quarter, Apple posted earnings per share (EPS) of $1.85, surpassing the consensus estimate of $1.77. Revenue rose 7.9% year-over-year to $102.5 billion, exceeding analyst expectations of $102.2 billion. Net income surged to $27.47 billion compared to $14.74 billion in the same quarter last year.

Apple CFO Kevan Parekh highlighted that the company’s strong quarter capped off a record fiscal year with total revenue of $416 billion and double-digit EPS growth. Parekh emphasized Apple’s growing installed base of active devices, which reached an all-time high across all product categories and regions.

iPhone 17 and Product Line Highlights

Apple’s iPhone business generated $49.03 billion in revenue, narrowly missing the $49.3 billion projection. The newly launched iPhone 17 lineup, which includes design enhancements for the Pro and Pro Max models, is already facing supply constraints due to high demand. The company discontinued the iPhone Plus in favor of a thinner, lighter iPhone Air, which has received positive early feedback.

Although the iPhone 17 launched only weeks before the quarter ended, early sales contributed to Apple’s positive guidance. Cook stated that Apple expects its December quarter to be the best ever for both total revenue and iPhone sales.

Mixed Regional and Segment Performance

Revenue from Greater China totaled $14.49 billion, falling short of analyst expectations of $16.43 billion. Apple’s Services division, the company’s second-largest revenue driver after iPhones, brought in $28.7 billion, beating expectations of $28.2 billion.

Other segments showed steady performance: iPad revenue reached $6.95 billion, Mac sales came in at $8.73 billion, and Wearables generated $9 billion.

Market Standing and Investor Outlook

Apple’s stock performance remains strong, reflecting investor confidence in its long-term strategy. As of October 31, 2025, Apple’s market capitalization exceeded $4 trillion, joining the ranks of Microsoft (MSFT) and Nvidia (NVDA). Over the past year, Apple shares have returned 20.97%, outperforming the S&P 500’s 19.97% return.

With demand for the iPhone 17 lineup outpacing supply and Services revenue growing steadily, Apple is positioned for another record-breaking quarter ahead.

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