{
  "id": 17938102,
  "title": "Apple posts $114.5bn revenue despite ‘unprecedented’ memory costs",
  "url": "https://urgent.news/2026/11/03/apple-posts-114-5bn-revenue-despite-unprecedented-memory-costs",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-11-03T08:55:12.000Z",
  "source": {
    "name": "Silicon Republic",
    "slug": "silicon-republic",
    "url": "https://www.siliconrepublic.com/business/apple-posts-114-5bn-revenue-despite-unprecedented-memory-costs"
  },
  "original_language": "en",
  "account": "Apple has reported a revenue of $114.5 billion for its latest fiscal year, marking a 12% increase compared to the previous year, despite facing \"unprecedented\" memory shortages and a decline in iPad sales. The company's CEO, John Ternus, warned that memory costs are expected to rise further in the December quarter, leading to a dip in Apple shares by over 7.5% in overnight trading. Despite these challenges, iPhone sales grew by 17.5% to $57 billion, driven by Apple's first foldable smartphone launch. The gross margin for the quarter was 47.9%, influenced by favorable tariff refunds. CEO Ternus emphasized that the company's current memory pricing situation is unprecedented, and the December quarter will benefit from carry-in inventory and lower costs on non-memory components. CFO Kevan Parekh expects revenue growth of between 7% and 10% for the upcoming quarter, slightly higher than the 6.1% forecast by analysts. The tech giant has also increased its manufacturing purchase commitments by $33 billion from June to September to address supply issues amid the ongoing AI boom.",
  "summary": "Expect even higher memory costs for the December quarter, CEO Ternus warns. 5bn revenue despite ‘unprecedented’ memory costs",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 2,
    "also_reported_by": [
      {
        "outlet": "Techmeme",
        "title": "Apple expects Q1 revenue to rise 7%-10% YoY, above 6% est., and gross margins of 45%-46%, below 47% est., as John Ternus says memory costs are \"unprecedented\" (Michael Acton/Financial Times)",
        "url": "https://urgent.news/2026/11/03/apple-expects-q1-revenue-to-rise-7-10-yoy-above-6-est-and-gross",
        "published": "2026-11-03T10:35:00.000Z"
      }
    ]
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}