Apple upbeat despite chip churn, projects record festive revenue amid cost pressures

The “unprecedented” rise in memory chip prices is squeezing Apple’s profit margins, but the company has also forecast better-than-expected sales for the crucial holiday season.

Apple’s sales picked up in the quarter to the end of September, with better-than-expected revenue of $114.5 billion, up 12 per cent year on year.

The quarter included only eight days of iPhone 18 Pro sales, while the new flagship, the iPhone Duo, did not reach store shelves until after the period ended.