Apple iPhone buyers aren’t holding off for enhanced AI capabilities. For Apple, this presents a mix of positive and challenging implications. The upside was clear in the company’s fiscal first-quarter earnings released late Thursday. iPhone revenue jumped 23% year-over-year to more than $85 billion (precisely $85.3 billion in reports), significantly exceeding Wall Street forecasts. This marked the strongest December-quarter growth for Apple’s flagship segment in over a decade — and indeed its best iPhone quarter ever. The surge was so robust that Apple is now racing to catch up on supply. On the earnings call, CEO Tim Cook noted that the company had largely depleted its inventory during the quarter and has shifted into “supply chase mode” to ramp up production and meet the exceptionally high demand. Dan Gallagher for The Wall Street Journal:
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Friday, January 30, 2026
Apple posts all-time record earnings, stock ticks down
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