Apple beats sales estimates, but shares fall as memory chip costs climb

Apple shares fell about 4 per cent after its first results under CEO John Ternus. He called memory pricing "unprecedented" and said costs will rise further.

— John Ternus, Apple CEO

Gross margin, September quarter

47.9 %

Gross margin slipped to 47.9 per cent in the September quarter. Apple expects 45 to 46 per cent in the December quarter.

Apple has been raising prices to cushion the hit, and one analyst warned its products may get more expensive while consumers feel the pinch.

Economy · 15 h ago

Apple beats sales estimates, but shares fall as memory chip costs climb

Apple shares fell about 4 per cent after its first results under CEO John Ternus. He called memory pricing "unprecedented" and said costs will rise further.

Gross margin slipped to 47.9 per cent in the September quarter. Apple expects 45 to 46 per cent in the December quarter.

Apple has been raising prices to cushion the hit, and one analyst warned its products may get more expensive while consumers feel the pinch.

Apple beats sales estimates, but shares fall as memory chip costs climb

Also read