Apple reports strong sales growth ahead of CEO transition
Apple shares rose 3% on strong quarterly sales growth. Outgoing CEO Tim Cook warned of rising chip costs before John Ternus takes the helm this September.
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APPLE INC shares rose 3% Friday morning after the hardware giant reported its fastest quarterly sales growth in over four years. Results exceeded Wall Street estimates despite a global memory chip shortage that pressured the consumer electronics industry. Strong momentum provides a stable foundation for incoming CEO John Ternus as the company accelerates its AI infrastructure rollout.
The iPhone 17 Pro series and the MacBook Neo laptop drove the sales surge during the January-March quarter. Apple margins and its fiscal third-quarter forecast both beat analyst projections.
