AIFortuneabout 2 hours ago
Apple's record iPhone quarter fails to lift stock
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Apple posted record June-quarter iPhone revenue of $54.25bn, up nearly 22%, but shares fell over 7% on supply constraints and softer guidance. The company forecast 9-11% revenue growth, below expectations, citing memory-chip shortages from the AI boom. Tim Cook steps down in September, with John Ternus taking over as CEO.
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