Apple reported fiscal fourth‑quarter 2025 results with revenue of $102.5 billion, an 8% year‑over‑year increase, and diluted earnings per share of $1.85, beating consensus estimates of $1.77. Services revenue reached an all‑time high of $28.75 billion, up 15% from the prior year, while iPhone revenue totaled $49.03 billion, a 6% rise YoY. Other segments contributed $7.0 billion from iPad sales, flat YoY, and $9.01 billion from Wearables, Home, and Accessories, down slightly.
Apple’s Q4 2025 revenue surpassed the $94.93 billion reported in Q4 2024 and the $94.0 billion of Q3 2025, reflecting a sequential growth of 8% and a year‑over‑year increase of 7.9%. Diluted EPS rose from $1.57 in Q3 2025 to $1.85 in Q4 2025, while the adjusted EPS for Q4 2024 was $0.97, partly offset by a one‑time $10.2 billion tax charge that had been recorded in the prior year.
On the earnings call, CEO Tim Cook projected that the December holiday quarter would be the company’s best ever, with revenue growth of 10% to 12% and double‑digit iPhone sales. CFO Kevan Parekh highlighted a $600 billion investment in artificial‑intelligence infrastructure over the next four years, noting that AI initiatives are expected to drive future product and services growth. The company also projected a gross margin of 47% to 48% for the holiday quarter and anticipated tariff costs of $1.4 billion.
The company’s Greater China revenue declined 4% YoY, driven by weaker demand for iPhones and services amid regulatory scrutiny and supply‑chain disruptions. Despite this, domestic demand in the United States and China remained strong, and the services segment continued to expand, reinforcing Apple’s resilience in a challenging macro environment. Apple’s market capitalization reached approximately $4.0 trillion by early November 2025, reflecting investor confidence in its high‑margin, high‑growth model.
Apple’s AI investment strategy positions it competitively against peers such as Amazon, Alphabet, and Microsoft, while maintaining a privacy‑first approach. The company’s cautious rollout of AI features, including a delayed Siri overhaul to 2026, contrasts with more aggressive competitor timelines but aligns with its long‑term product roadmap.
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