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Apple boss Tim Cook said the company's latest iPhones have seen "a tremendous response" worldwide as the tech giant announced its latest financial results. The release of the thinnest iPhone, the Air, in September, along with upgraded iPhone 17 models, has provided a strong boost for the firm. Apple forecasts a blockbuster Christmas and New Year's period, projecting overall revenue to be up to 12% higher than the same period last year.
But Apple narrowly missed estimates for iPhone sales in its fourth quarter that ended in September, which boss Tim Cook blamed on supply constraints for several iPhone models along with a lag in shipments to China.
Despite that, during a call with analysts Mr Cook said Apple is heading into the holiday season "with our most powerful lineup ever".
The iPhone Air helped entice customers and boost sales. If the company meets its sales forecast for the holiday season, it would be Apple's "best quarter ever", chief financial officer Kevan Parekh told analysts on Thursday.
Apple reported overall fourth quarter revenue of $102.5bn (£77bn), topping analysts' estimates and representing an 8% increase from the previous year. But iPhone revenue, specifically, came in slightly below expectations at $49bn (£37bn).
Mr Cook stressed that global demand for iPhone 16 and 17 models has been robust, despite constraints that led to the sales miss in the recent quarter.
"We're not predicting when the supply and demand will balance," Mr Cook said. "We're obviously working very hard to achieve that, because we want to get as many of these products out to customers as possible.”
In the Chinese market, he said he "couldn't be more pleased with how things are going", citing strong reception to the new iPhone 17. Data from Counterpoint, a technology market research firm, showed that the first 10 days of iPhone 17 sales in the US and China were up 14% compared with sales of the iPhone 16.
The effects of US President Donald Trump's tariffs also remain top of mind for Apple's investors. It manufactures many iPhones in China and its global supply chain leaves it vulnerable to trade wars - though a recent meeting between Trump and President Xi raised hopes for a de-escalation of tensions.
