Apple is all in on AI — its own and everyone else’s

What happened: Apple reported its best-ever fiscal year for revenue and earnings per share, with iPhone and Mac sales growing in the fourth quarter. Apple also warned that rising memory costs would squeeze holiday quarter profit margins. Key numbers: iPhone revenue rose 17.5% year over year to a September quarter record of $57.6 billion. Why it matters: The margin warning on rising memory costs weighed on shares despite record annual results, showing how Apple is capitalizing on the AI boom without the infrastructure spending consuming competitors.

Apple reported its best-ever fiscal year for revenue and earnings per share, with iPhone and Mac sales growing in the fourth quarter. Apple also warned that rising memory costs would squeeze holiday quarter profit margins.

The margin warning on rising memory costs weighed on shares despite record annual results, showing how Apple is capitalizing on the AI boom without the infrastructure spending consuming competitors.